Canada's Imperial Oil posts quarterly loss on impairment charges

Imperial Oil Ltd, one of Canada's biggest crude producers and refiners, on Tuesday swung to a quarterly loss, hit by impairment charges of C$1.17 billion ($913.35 million)related to abandoned assets in Alberta.

The Calgary, Alberta-based company posted a loss of C$1.15 billion, or C$1.56 per share, for the fourth quarter ended Dec. 31, from a profit of C$3 million, or breakeven per share, in the third quarter.