BOE Report

Imperial declares third quarter 2021 dividend

CALGARY, Alberta--(BUSINESS WIRE)--Imperial Oil Limited (TSE: IMO, NYSE American: IMO) today declared a quarterly dividend of 27 cents per share on the outstanding common shares of the company, payable on October 1, 2021, to shareholders of record at the close of business on September 3, 2021.   This third quarter 2021 dividend compares with the second quarter 2021 dividend of 27 cents per share. Imperial has a long and successful history of growth and financial stability in Canada [Read more]

Imperial announces second quarter 2021 financial and operating results

CALGARY, Alberta - Imperial Oil Limited (TSX, NYSEAM: IMO): Second quarter earnings of $366 million with cash flow from operating activities of $852 million Successfully completed significant planned turnaround activities at Kearl, Syncrude and Strathcona Highest second quarter production in over 25 years driven by record production at Kearl Accelerating plans to extend intervals between planned turnarounds at Kearl, eliminating need for second annual turnaround beginning in 2021 [Read more]

Chevron announces second quarter 2021 results

Earnings of $3.1 billion; adjusted earnings of $3.3 billion Cash flow from operations of $7.0 billion; free cash flow of $5.2 billion Resuming share repurchases, targeted at $2-3 billion per year SAN RAMON, Calif. - Chevron Corporation (NYSE: CVX) today reported earnings of $3.1 billion ($1.60 per share - diluted) for second quarter 2021, compared with a loss of $8.3 billion ($(4.44) per share - diluted) in second quarter 2020. Included in the current quarter were remediation charges [Read more]

ConocoPhillips announces quarterly dividend

HOUSTON - ConocoPhillips (NYSE: COP) announced today a quarterly dividend of 43 cents per share, payable Sept. 1, 2021, to stockholders of record at the close of business on July 26, 2021. Headquartered in Houston, Texas, ConocoPhillips had operations and activities in 15 countries, $84 billion of total assets, and approximately 10,300 employees at March 31, 2021. Production excluding Libya averaged 1,488 MBOED for the three months ended March 31, 2021, and proved reserves were 4.5 BBOE as of [Read more]

Imperial to hold 2021 second quarter earnings call

CALGARY, Alberta - (TSE:IMO, NYSE American: IMO) Brad Corson, chairman, president and chief executive officer, and Dave Hughes, vice-president investor relations, Imperial Oil Limited, will host a 2021 Second Quarter Earnings Call on Friday, July 30, following the company’s second quarter earnings release that morning. The event begins at 9 a.m. MT and will be accessible by webcast. During the call, Mr. Corson will offer brief remarks prior to taking questions from Imperial’s covering [Read more]

OGCI Chairman Bob Dudley on what post-pandemic recovery of energy demand means for reducing global emissions; investing in new technologies and why a value on carbon is needed

WASHINGTON - In the first episode of the CERAWeek Conversations series for 2021, Bob Dudley, chairman of the Oil and Gas Climate Initiative (OGCI), discusses how the post-pandemic recovery of energy demand “shows the size, scale and complexity” of the challenge to reduce global emissions and why “no one company, no one real industry [can do it alone].” In a conversation with Daniel Yergin, vice chairman, IHS Markit, Dudley discusses the organization’s initiatives for reducing [Read more]

Canadian oil sands production exceeds pre-pandemic levels, but lingering COVID impacts and other factors trim long-term growth

IHS Markit 10-year forecast expects oil sands production in 2030 to be 3.6 million barrels per day, well above current level, but lower than prior projections CALGARY, Alberta - Canadian oil sands production has fully recovered from last year’s “COVID-19 Shock”—the largest contraction of upstream production in Canadian history—and has exceeded pre-pandemic levels. However, lingering COVID impacts, pipeline constraints and uncertainties related to an accelerating energy transition have reduced [Read more]

Imperial committed to long-term shareholder value

CALGARY, Alberta - Imperial Oil Limited (TSE: IMO, NYSE American: IMO) announced today that it has received final acceptance from the Toronto Stock Exchange (TSX) for a normal course issuer bid (NCIB) to repurchase up to five percent of its 711,673,439 outstanding common shares as of June 15, 2021, or a maximum of 35,583,671 shares during the next 12 months. This maximum will be reduced by the number of shares purchased from Exxon Mobil Corporation (ExxonMobil), Imperial’s majority shareholder, [Read more]

Inclusive Energy creates strategic partnerships with ROK Resources and Jayhawk Resources

CALGARY, Alberta -Inclusive Energy Ltd. (“Inclusive”), a leader in the oil and gas services sector, is pleased to announce a strategic partnership with ROK Resources Inc. (“ROK”), whereby Inclusive has invested in ROK as part of a recent private placement financing. ROK is a junior oil and gas producer focused on developing its light oil properties in the Glen Ewen area of southeast Saskatchewan. The investment in ROK is an integral part of Inclusive Energy’s recent initiative to diversify its [Read more]

Oil and gas companies most committed to radical reinvention expect twice the revenue and margin growth of those least committed, Accenture report finds

NEW YORK - The oil and gas companies most committed to reinventing themselves over the next three years as a result of the COVID-19 pandemic expect to grow their revenues and margins at twice the rate of companies least committed to reinvention, according to a new report from Accenture (NYSE: ACN) that outlines best practices companies should adopt to thrive in the energy transition. The report, titled “Necessity is the Mother of (Re)invention” features results from a global survey of more [Read more]