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Imperial Oil saw reduced earnings and revenue in Q2 2025 due to lower commodity prices and downstream margins. However, the company recorded its highest second-quarter upstream production in over 30 years and successfully completed major turnaround projects.
Net income for Q2 2025 was CAD 949 million, down from CAD 1.13 billion in Q2 2024
EPS was CAD 1.86, reflecting reduced upstream realizations and margin capture
Upstream production reached 427,000 barrels per day, a 30-year high for Q2
Commissioned Canada’s largest renewable diesel facility at Strathcona refinery
Imperial expects a stronger second half in 2025, supported by completed turnaround activities and the full ramp-up of the renewable diesel facility.