Imperial Oil Hikes Production, Refining Guidance for 2025

December 17, 2024--Researched by Industrial Info Resources (Sugar Land, Texas)--Imperial Oil Limited (Calgary, Alberta), which is a publicly traded subsidiary of ExxonMobil Corporation (NYSE:XOM) (Spring, Texas), plans to boost production in Canada's oil sands with between C$1.9 billion and C$2.1 billion (US$1.33 billion to US$1.48 billion) in capital and exploration expenditures (capex) throughout 2025. The company also expects to see higher refinery throughput amid a lighter turnaround schedule, along with the startup of a highly anticipated renewable diesel project. Industrial Info is tracking more than US$1.8 billion worth of active and planned projects from Imperial Oil, about 85% of which is in Alberta's oil sands region. The company recently announced its corporate guidance outlook for 2025, where it aims for stronger operating performance, higher volumes and lower unit cash costs at its Kearl and Cold Lake developments in Alberta's oil sands. Other companies featured: Air Products and Chemicals Incorporated (NYSE:APD)