Earnings
May 8, 2021 - IPL
New! Inter Pipeline Ltd - Q1-2021 Earnings - Price Target Update .....
May 6, 2021 - NFI
New! NFI Group Q1-2020 Earnings, Price Target Update .....
May 5, 2021 - RUS
Russel Metals Inc. Q1-2021 Earnings, Price Target Update .....
May 4, 2021 - GEI
Gibson Energy Inc. Q1-2021 Earnings, Price Target Update .....
May 2, 2021 - BCE
BCE Inc Q1-2021 Earnings, 2021 Forecast .....
May 1, 2021 - ALA
AltaGas Ltd - Q1-2021 Earnings, Price Target Update .....
April 30, 2021 - WCP
Whitecap Resources Inc. Q1-2021 Earnings, Price Target Update .....
April 29, 2021 - VET
Vermilion Energy Inc. Q1-2021 Earnings, Price Target .....
Recommendation Changes
HR.UN, MKP, BDT, SPB, MTL, more...

Imperial Oil Ltd, Q3-2020 Earnings, 2020 Forecast

This is only a sample of the article, please login to view the entire article

Imperial Oil (IMO-TSX) is Canada's second-largest integrated oil company next to Suncor Energy Inc. (SU). Exxon Mobil Corp.(XOM-NYSE), owns 69.6% of Canadian based Imperial Oil. Imperial integrated business model includes Upstream, Downstream and Chemical segments. The upstream segment contributes approximately 30% of earnings, Downstream at 65% and Chemical processing 5%. Imperial Oil has assets of $39.4B as Sept-30-2020 compared to $42.2B at Dec-31-2019. Annual revenues for 2019 were $34B and forecast at $25B for 2020. Exxon Mobil has assets of $363B and annual revenues of $265B for 2019.

Upstream assets are composed of mainly long life oil sands reserves comprised of Kearl, Syncrude and Cold Lake projects. Kearl and Cold Lake each contribute about 40% of production, Syncrude – 20%. Kearl is 71% owned, Syncrude -25% and Cold Lake is 100% owned. Kearl and Cold Lake contribute about 80% of production priced based on the WCS benchmark, Syncrude prices are tied to WTI. They have a 50% interest of 650,000 acres of the Duvernay and Montney fields.

The Downstream segment serves predominantly Canadian markets with refining, logistics and marketing assets. This segment is comprised of three refineries, Strathcona in Alberta, Nanitcoke and Sarnia in Ontario with aggregate distillation capacity of 423,000 barrels per day. Refining margins are driven by differences in commodity prices and are a function of the difference between what a refinery pays for its raw materials (primarily crude oil) and the market prices for the range of products produced (primarily gasoline, heating oil, diesel oil, jet fuel and fuel oil).

You must be a member to view the entire article, please subscribe or login


Login
Username
Password
New Issues & Acquisition
May 7, 2021
New! Coverage Universe - Weekly Price Change: Apr 30 - May 7, 2021
April 30, 2021
Coverage Universe - Weekly Price Change: Apr 23-30, 2021
April 23, 2021
Coverage Universe - Weekly Price Change: Apr 16-23, 2021
April 16, 2021
Coverage Universe - Weekly Price Change: Apr 9-16, 2021
April 9, 2021
Coverage Universe - Weekly Price Change: Apr 2-9, 2021
April 2, 2021
Coverage Universe - Weekly Price Change: Mar 26-Apr 2, 2021
March 26, 2021
Coverage Universe - Weekly Price Change: Mar 19-26, 2021
March 24, 2021
Emera Inc. - 4.25% Rate Reset Preferred Shares - New Issue