Imperial Oil posts $1.17B first-quarter profit, best in over 30 years

Imperial Oil Ltd. says it posted its highest first-quarter profit in over 30 years as it earned $1.17 billion, boosted by higher oil prices. The company also announced plans to buy back up to $2.5 billion of its common shares. Imperial says the profit amounted to $1.75 per diluted share for the quarter ended March 31, up from a profit of $392 million or 53 cents per share a year earlier. Total revenue and other income amounted to $12.69 billion, up from $7 billion in the first three months of 20