Overview

• Extreme cold in February 2025 reduced Kearl oilsands mine output to an average of 256,000 barrels per day for Q1, down from 277,000 barrels per day a year earlier.
• April production recovered to nearly 300,000 barrels per day, approaching record levels for the site.
• Imperial Oil posted a Q1 profit of $1.29 billion, up from $1.2 billion in the same period last year, aided by improved heavy-oil pricing and narrower price differentials.
• The company is implementing enhanced cold-weather protocols and infrastructure upgrades to bolster resilience during future extreme temperature events.
• CEO Brad Corson is set to retire after the annual meeting, with John Whelan succeeding him as Imperial's new leader.