Imperial Oil reports fourth-quarter profit

Canada's integrated oil company Imperial Oil Ltd on Friday posted a quarterly profit, driven by gains from cheap crude prices at its refining division.

Imperial, majority owned by Exxon Mobil Corp , said its net profit in the fourth quarter ended Dec. 31 was C$853 million ($649.2 million), or C$1.08 per share.

The Calgary, Alberta-based company had posted a net loss of C$137 million, or 16 Canadian cents per share, a year earlier, due to a surge in refining and oil production costs.

The company took impairment charges of C$566 million in the year-ago quarter.

(Reporting by Shradha Singh in Bengaluru; Editing by James Emmanuel)