Imperial (TSX: IMO, NYSE American: IMO) has announced its corporate guidance outlook for 2025, emphasizing its strategy to maximize the value of existing assets and pursue high-value growth opportunities. The company's focus on increasing free cash flow over a range of business conditions is evident in its forecasted capital and exploration expenditures, ranging between $1.9 to $2.1 billion.
In the upstream sector, Imperial anticipates production to grow to between 433,000 and 456,000 gross oil equivalent barrels per day, driven by continued growth at Kearl and the first full-year contribution from Grand Rapids at Cold Lake. Additionally, the company expects to start up the Leming redevelopment project late in the year, with the primary contributions expected in 2026 and beyond.
Regarding downstream operations, Imperial forecasts refinery throughput to be between 405,000 and 415,000 barrels per day, with planned turnarounds at each of its refineries. The company aims to minimize the expected impacts on throughput and costs compared to 2024, reflecting its commitment to further improving its advantaged Canadian downstream business.
In terms of specific operational costs, the company has provided detailed figures for the planned turnarounds in both the upstream and downstream sectors, including anticipated operating costs for each quarter.
Imperial's commitment to delivering value to its shareholders while maintaining high standards across all areas of its business is highlighted throughout the announcement. The company's emphasis on technology, innovation, and responsible development of Canada's energy resources underpins its position as an industry leader.
As a result of these announcements, the company's shares have moved -6.6% on the market, and are now trading at a price of $68.48. For more information, read the company's full 8-K submission here.
