Imperial Oil sees FY25 capital expenditures C$1.9B-C$2.1B

Sees FY25 upstream production 433,000-456,000 gross oil equivalent barrels per day. Sees FY25 downstream production 405,000-415,000 barrels per day. Imperial provided an update on its corporate guidance outlook for 2025. “Our 2025 plan builds on our momentum and positions the company to achieve even stronger operating performance with higher volumes and lower unit cash costs1 at Kearl and Cold Lake,” said Brad Corson, chairman, president and chief executive officer. In the Downstream, a lighter turnaround schedule supports higher refinery throughput year-over-year, and start-up of the Strathcona Renewable Diesel project is expected to increase product sales. “Our strategic investments and continued focus on profitable volume growth, lowering costs and driving efficiencies have enhanced Imperial’s ability to increase free cash flow1 over a range of business conditions,” Corson added.