for-phone-onlyfor-tablet-portrait-upfor-tablet-landscape-upfor-desktop-upfor-wide-desktop-up
Oil and Gas

Imperial Oil expects higher capital spend in 2022

Dec 17 (Reuters) - Canada’s Imperial Oil Ltd on Friday joined its rivals in forecasting higher capital expenditure next year, betting on a recent recovery in commodity prices from pandemic-led historic lows.

Calgary-based Imperial, which is majority-owned by Exxon Mobil Corp expects 2022 spending to be at C$1.4 billion ($1.09 billion), higher than 2021 estimates of C$1.1 billion.

$1 = 1.2821 Canadian dollars Reporting by Rithika Krishna in Bengaluru; Editing by Vinay Dwivedi

for-phone-onlyfor-tablet-portrait-upfor-tablet-landscape-upfor-desktop-upfor-wide-desktop-up