Imperial Oil lifts 2026 forecast for spending, output to boost cash flow, cut costs
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Imperial Oil plans to increase capital spending and upstream production in 2026, focusing on high-return oil sands projects to boost cash flow and reduce costs. The company aims to achieve volume and unit cash cost targets at Kearl and Cold Lake. Capital expenditures are projected between C$2.0 billion and C$2.2 billion, with upstream production forecasted at 441,000 to 460,000 boepd. However, downstream throughput is expected to decrease due to planned refinery turnarounds.
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