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Imperial Pushes Forward With Projects After Prices Decline

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Imperial Oil Ltd., the Canadian producer majority owned by Exxon Mobil Corp., is pushing ahead with multibillion-dollar expansion plans even after the collapse in crude prices.

“Our near-term investment plans remain largely unchanged,” Rich Kruger, chairman and chief executive officer of the Calgary-based company, said in a statement Monday. “However, we will continue to closely monitor and respond to market conditions, rigorously examining operating costs and capital investments to maximize value.”