Imperial Oil Attributes Q4 2020 Net Loss To Non-Cash Impairment Charge

Imperial Oil Limited reported net losses of $1.15 billion and $1.86 billion for Q4 and year-end 2020, reflecting a non-cash impairment charge of $1.17 billion after-tax in the fourth quarter, which relates to a previously-announced decision to no longer develop a significant portion of the company’s unconventional portfolio.

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