Another oil company has reported a sharp drop in quarterly profits; Imperial Oil plummeted from $1.2 billion in Q2 2014 to $120 million in the same period in 2015, a 90 per cent drop.
Another oil company has reported a sharp drop in quarterly profits; Imperial Oil plummeted from $1.2 billion in Q2 2014 to $120 million in the same period in 2015, a 90 per cent drop. Earnings per share were 14 cents compared to $1.45 a year earlier. Lower oil prices and a charge of $320 million for Alberta corporate taxes hit profits.
