Imperial Oil Ltd , Canada's No. 2 oil producer and refiner, on Thursday named Exxon Mobil Corp executive Richard Kruger to replace chief executive, Bruce March, as the company readies the start-up of its C$12.9 billion ($12.7 billion) Kearl oil sands mine.March, who ran the company for five years, will become senior vice-president at Exxon's chemical unit. Kruger, currently president of ExxonMobil Production Co, will take over at the Canadian company on March 1. Exxon has a 69.6 percent stake in Imperial.March laid the groundwork for a big expansion of Imperial's oil production as he completed construction of the Kearl project, which is expected to begin producing before the end of the first quarter.However the project was plagued by cost overruns that pushed the budget two-thirds above Imperial's original C$7.9 billion estimate.
Imperial Oil Limited (Imperial) is an integrated oil company. Shares of IMO fell by 1.81% or $-0.76/share to $41.31. In the past year, the shares have traded as low as $38.16 and as high as $50.00. On average, 235970 shares of IMO exchange hands on a given day and today's volume is recorded at 123916.
Exxon Mobil Corporation (Exxon Mobil) is a manufacturer and marketer of commodity petrochemicals, including olefins, aromatics, polyethylene and polypropylene plastics and a range of specialty products. Shares of XOM fell by 0.42% or $-0.37/share to $88.60. In the past year, the shares have traded as low as $77.13 and as high as $93.67. On average, 13130500 shares of XOM exchange hands on a given day and today's volume is recorded at 3360962.
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