06:18:42 EDT Mon 29 Apr 2024
Enter Symbol
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CA



Imperial Oil Ltd
Symbol IMO
Shares Issued 535,836,803
Close 2024-03-18 C$ 91.56
Market Cap C$ 49,061,217,683
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Globe says Imperial shutters pipeline in Central Canada

2024-03-19 08:01 ET - In the News

The Globe and Mail reports in its Tuesday, March 19, edition that Imperial Oil has closed a crucial pipeline that provides gasoline, diesel and jet fuel to the Winnipeg region. The Globe's Temur Durrani and Emma Graney write that the company is currently working on repairing the pipeline and finding alternative methods to transport fuel to the city, such as through trucks and trains. Routine inspections by Imperial earlier this year found what the provincial government calls "integrity concerns" in a section of the Winnipeg Products Pipeline under the Red River near St. Adolphe. The line was shut down on Sunday as a result -- an unplanned move that Imperial Oil says is "preventative maintenance to ensure the integrity of the line." Imperial would not provide details about what the inspections uncovered that required the repairs. The City of Winnipeg's chief administrative officer, Michael Jack, initially contended that the problem is far worse than Imperial has said but changed his opinion on Monday. Later on Monday, Manitoba Premier Wab Kinew said while there is no reason for the public to panic or for people to stock up on fuel, the government is looking at obtaining backup supplies in case Imperial falls short.

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