Imperial Oil (TSE:IMO) has released an update.
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Imperial Oil has announced the start of production at its Grand Rapids project in Cold Lake, leveraging a new solvent-assisted technology expected to cut emissions intensity by up to 40%. This innovation aligns with the company’s strategy to reduce its operated oil sands emissions intensity by 30% by 2030, contributing to Canada’s net zero goals. The project is also set to ramp up to 15,000 barrels per day, marking a significant progression in environmentally responsible energy production.
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