Imperial oil reduces spending by $1 billion

Imperial provides corporate update, reduces spending by $1 billion.imperial oil ltd - updated capital outlook of $1.1 billion to $1.2 billion for 2020.imperial oil ltd - identified opportunities to reduce operating expenses by $500 million compared to 2019 levels.imperial oil ltd - suspending share repurchases under program effective april 1, 2020.imperial oil - impact of covid-19,current business environment, expected to result in negative impacts on co's upstream production over near term.imperial oil - impact of covid-19 expected to result in negative impacts on co's downstream refinery utilization and product sales over the near term.
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