Refinery closure, drop in oilsands production hurts Canadian firms.

摘要

Imperial Oil announced that its 2Q profit declined by 49% from 2Q 2012 levels to $317MM due to a one-time $256MM charge related to the conversion of its Dartmouth refinery in Nova Scotia to an oil storage terminal. The shutdown of two of its oilsands projects during the quarter for planned maintenance negatively impacted production though rising output from its Kearl oilsands project led to a 7K b/d production increase from 2Q 2012 levels to 276K b/d. Kearl should reach a production level of 110K b/d by die end of 2013 with eventual output reaching 345K b/d by 2020.