Imperial Oil Ltd Q1 2022 Earnings Call Transcript

The following is excerpted from the question-and-answer section of the transcript.

Question: David Lorenzo Fernandez - BofA Securities, Research Division - Analyst : Hello. This is David Fernandez in for Doug. Well, thank you for taking these questions. My first one is just on -- again, on the SIB, if I can ask around it a little bit differently. Clearly, it's a large number, it's larger than maybe what we had envisioned. So therefore, it allows you guys a lot of optionality going forward. How do you guys think about the pace on executing on that going forward that you also have the renewal of the NCIB there as well?

Question: David Lorenzo Fernandez - BofA Securities, Research Division - Analyst : It's -- no.

Question: David Lorenzo Fernandez - BofA Securities, Research Division - Analyst : Got it. And that makes sense. And if I can go back to Kearl. So I guess we're going to wait until post turnaround to get an update around that. Like I guess you're implying that potentially you could still meet the full year target, which like if we run some numbers here, I mean, it would kind of imply like a second half run rate at or above 300,000 barrels per day. I mean, is there something that you can point to perhaps that gives you conviction that maybe that's still achievable? Or are my numbers off?

Question: David Lorenzo Fernandez - BofA Securities, Research Division - Analyst : Appreciate it. Thank you. And congrats again on the SIB.

Question: Travis Wood - National Bank Financial, Inc., Research Division - Analyst : Yes. Thanks for taking my question. You alluded to some cost pressure, largely volume related at Kearl, but I wanted to hear your thoughts around kind of broader inflation pressures we've heard it from a couple that have reported already this quarter. So just broader inflationary pressures on CapEx and OpEx side. And then maybe are you seeing any of that in a positive tone into the Chemicals business?