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Imperial profits top $1b

PHOTO. A 2011 photo of Syncrude's production facility at the Mildred Lake site. File photo.

Imperial Oil’s first quarter earnings passed the one billion mark this year.

That’s thirty percent higher than last year, when the company made a profit of just under 800 million.

Unplanned maintenance at Syncrude pushed down its share of production there from 80 to 74 thousand barrels per day.

The company still expects its 110 thousand b-p-d Kearl project to open this year.

Published April 27, 2012