Imperial Oil Production Matching Levels From 30 Years Ago

Imperial Oil saw production reach limits not seen in 30-years in the third quarter of 2019.

The oil company released their quarterly report last week highlighting an average production of 407,000 barrels of oil equivalent per day.

This is the first time Imperial has reached this output from July to September in three decades.

Their Kearl site, north of Fort McMurray, produced 224,000 barrels per day. This is down from the 244,000 they averaged during the same period of 2018.

They also added another 69,000 bbls/d with their share in Syncrude.

Meanwhile, Imperial saw a profit of $424 million in the third quarter. This is down $749 million they brought in last year.

More from 100.5 Cruz FM