Imperial Oil announced its second quarter 2025 financial and operating results, reporting estimated net income of $949 million, a decrease from $1,133 million in the second quarter of 2024. Diluted earnings per share were $1.86, down from $2.11 year-over-year. Cash flows from operating activities were $1,465 million, or $1,413 million excluding working capital impacts.
The company achieved its highest second-quarter upstream production in over 30 years, averaging 427,000 gross oil-equivalent barrels per day. Kearl recorded its highest-ever second-quarter gross production at 275,000 barrels per day, following a planned turnaround. Imperial also announced plans to double Kearl's turnaround intervals to an industry-leading four years.
A significant operational milestone was the start-up of Canada's largest renewable diesel facility at the Strathcona refinery during the quarter. This project is expected to deliver high-quality, lower-emission fuels to the Canadian transportation sector. Imperial also renewed its annual normal course issuer bid in June and plans to accelerate share repurchases to complete the program prior to year-end.
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