News wire — Canada’s Imperial Oil reported a sharp drop in second-quarter profit on Friday as oil prices fell from last year’s peaks amid economic uncertainty.
The company reported a net income of C$675 million ($510.82 million), or C$1.15 per share, for the quarter ended June 30, down from C$2.4 billion or C$3.63 per share, a year earlier.
$1 = 1.3214 Canadian dollars
Reporting by Sourasis Bose in Bengaluru Editing by Vinay Dwivedi – Reuters
This article was originally posted at sweetcrudereports.com
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