Imperial Oil Issues C$1.9-C$2.1 Billion Capex Guidance for 2025

Core Insights - Imperial Oil Limited (IMO) has released its corporate guidance outlook focusing on profitable volume growth and increased cash flow, forecasting capital and exploration expenditures of C$1.9 to C$2.1 billion [1] Upstream Projections - A significant portion of the capital investment will be directed toward upstream operations to enhance production volumes, with key projects including Kearl, Leming redevelopment, and Grand Rapids [2] - Anticipated investments in these projects are expected to boost production levels between 433,000 and 456,000 barrels of oil equivalent per day by 2025 [3] Downstream Transformation - Downstream capital investments will focus on efficiency and low-carbon initiatives, particularly the Strathcona renewable diesel project and other optimization initiatives [4] - The Strathcona renewable diesel project, expected to start in mid-2025, represents a shift toward lower-carbon products and is anticipated to increase sales volume due to a lower turnaround schedule [5] Capacity Optimization - IMO expects investments in its projects to boost throughput between 405,000 and 415,000 barrels per day, with capacity optimization between 94% and 96% [6]