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CALGARY - Imperial Oil Ltd. investors have voted 86 per cent to defeat a shareholder resolution that it adopt a target to achieve net-zero carbon emissions by 2050.
Imperial Oil logo at the company s annual meeting in Calgary on April 28, 2017. THE CANADIAN PRESS/Jeff McIntosh
CALGARY - Imperial Oil Ltd. investors have voted 86 per cent to defeat a shareholder resolution that it adopt a target to achieve net-zero carbon emissions by 2050.
But the vote held during the Calgary-based company s virtual annual meeting exposes a rift between its parent, U.S. giant Exxon Mobil Corp., which owns 69.6 per cent of Imperial, and its other shareholders, as the company noted 58 per cent of the shares not held by Exxon were voted in favour of the resolution.
Winnipeg Free Press By: The Canadian Press
Last Modified: 1:44 PM CST Thursday, Feb. 25, 2021
CALGARY - Imperial Oil Ltd. is cutting one billion barrels from its inventory of oilsands bitumen following a year marked by low oil prices and budget cutting amid the COVID-19 pandemic and a global price war between major oil producers.
Imperial Oil logo as seen at the company s annual meeting in Calgary, Friday, April 29, 2016.THE CANADIAN PRESS/Jeff McIntosh
CALGARY - Imperial Oil Ltd. is cutting one billion barrels from its inventory of oilsands bitumen following a year marked by low oil prices and budget cutting amid the COVID-19 pandemic and a global price war between major oil producers.
Imperial Oil reports one-billion-barrel drop in bitumen reserves at end of 2020 | iNFOnews infotel.ca - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from infotel.ca Daily Mail and Mail on Sunday newspapers.
Five things to watch for in the Canadian business world in the coming week
Imperial Oil logo at the company s annual meeting in Calgary on April 28, 2017. THE CANADIAN PRESS/Jeff McIntosh January 31, 2021 - 7:00 AM
TORONTO - Five things to watch for in the Canadian business world in the coming week:
Oilpatch earnings
Investors will see financial results from some of the big names in the oilpatch this week. Imperial Oil will host a conference call with analysts to discuss its fourth-quarter results on Tuesday and Suncor will release its results after the close of markets on Wednesday followed by a conference call Thursday. Canada s oil and gas producers are expected to maintain spending discipline in 2021 as optimism from stronger oil prices is offset by fears of weak demand due to new strains of the COVID-19 pandemic.