Monday, April 19, 2010

Imperial Oil (TSE:IMO): Low Margins Expected

Margins at Imperial Oil (TSE:IMO) are expected to push down earnings, as the company prepares to release its latest quarterly report on April 29.

Those oil companies with strong investment in the downstream are expected to have low margins at their refining businesses, which is sure to result in lower earnings.

Imperial Oil, whose largest shareholder is ExxonMobil (NYSE:XOM), and which has controlling interest in the company, has also said they have started their maintanance at the Strathcona refinery in Edmonton, Alberta, which shouldn't cause any supply problems with the usual 187,000 barrels a day processed there.

The shutdown is expected to last into May.

No comments: