Imperial Oil Ltd., the 141-year-old elder statesman of Canadian fossil fuel firms, said it is encouraged by the rising global demand for petroleum products, but it also is bracing for potential impacts that could follow the United Nations climate summit in Glasgow, Scotland.

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The Calgary-based company, majority owned by ExxonMobil, issued its 3Q2021 results on Friday (Oct. 29). ExxonMobil also reported its third quarter results on Friday.

Since the start of this year, “demand for petroleum and petrochemical products has continued to recover, with each of the company’s sequential quarterly financial results benefiting from stronger prices when compared to the prior quarter,” the management team said.

“Imperial’s strong operational performance enabled the company to...