The Imperial Oil logo is shown at the company's annual meeting in Calgary on April 28, 2017. CALGARY - Imperial Oil Ltd. is reducing its spending for this year by $1 billion, including a $500-million cut to its capital spending plan as it deals with the COVID-19 Wholesale Area Manager, Western USA & Canada ... including annual budget, monthly earnings forecasting and strategic reviews. Peter Shaw Lubricants Manager, Canada at Imperial Oil. The company also says it has identified additional opportunities to cut another $500 million from its 2020 operating budget. The reduction reflects a response to the market conditions resultin CALGARY, Alberta--(BUSINESS WIRE)--Imperial Oil Limited (TSX:IMO):Net income of $424 million; cash generated from operations of nearly $1.4 billionHighest third quarter production in 30 years at 407,000 gross oil-equivalent barrels per dayReturned $512 million to shareholders through share purchases and dividends Calgary, Canada Area. CALGARY — Imperial Oil Ltd. is reducing its spending for this year by $1 billion, including a $500-million cut to its capital spending plan as it deals with the COVID-19 pandemic and crash in oil prices.The company says its capital budget for this year is now set at $1.1 billion to $1.2 billion, down Calgary, Canada Area. Imperial Oil cutting spending plans for 2020 by $1 billion The company says its capital budget for this year is now set at $1.1 billion to $1.2 billion, down from its … 2018 – May 2020 2 years. Peter Shaw. Pricing Advisor ... Midstream Business Development Manager at Imperial Oil. Overall, Imperial Oil reported a net loss of $188 million in Q1, including a $301 million write-down on asset valuations. In a press release, Imperial Oil Limited announced its revised capital budget of C$1.1 – 1.2 billion, down about C$500 million (or ~30%) from its previous capital budget of C$1.6 – 1.7 billion, announced in January 2020. Imperial Oil Communication - March 18, 2020 March 18, 2020 Imperial Oil has shared the following communication regarding the proactive and preventative measures they have put in place to protect the health and safety of their workforce and the community.