Market Intelligence

Imperial Oil reports fourth-quarter profit

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Feb 1 (Reuters) - Canada's integrated oil company Imperial Oil Ltd on Friday posted a quarterly profit, driven by gains from cheap crude prices at its refining division.

Imperial, majority owned by Exxon Mobil Corp, said its net profit in the fourth quarter ended Dec. 31 was C$853 million ($649.2 million), or C$1.08 per share.

The Calgary, Alberta-based company had posted a net loss of C$137 million, or 16 Canadian cents per share, a year earlier, due to a surge in refining and oil production costs.

($1 = 1.3140 Canadian dollars)

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