04:04 PM EST - Imperial Oil : announced net income for 2008 of $3.878 million or $4.36 per share compared with $3.188 million or $3.41 per share in 2007. Fourth-quarter earnings were $660 million or $0.76 per share in
2008 compared with $886 million or $0.96 per share in the fourth quarter of 2007. Fourth-quarter earnings were primarily impacted by lower crude oil and natural gas commodity prices. For the full year 2008, earnings increased primarily due to higher crude oil and natural gas commodity prices with improved upstream realizations partially offset by the negative impacts of lower upstream volumes, higher royalties, higher energy and maintenance costs and lower overall downstream margins. Imperial Oil
shares T.IMO are trading down $0.87 at $38.92.
