Imperial Oil Confirms Diesel Leak in St. Claire, Cleanup Underway

Imperial Oil Ltd. IMO, a leading integrated oil company based in Canada, has reportedly identified a small diesel leak from its dock in Ontario. The company stated that the diesel leaked into the Saint Clair River from the dock and it has undertaken measures to contain the spillage.

IMO reported that containment booms were rolled out in the river to limit the damage caused by the leakage. The source of the leak was identified and stopped promptly. The company also confirmed that the diesel sheen on the river water was fully contained.

Imperial Oil has mentioned that efforts to clean up the spill are currently underway. Additionally, as a precautionary measure, a quality check on the river water downstream has been carried out and the results indicate that no significant levels of hydrocarbons have been detected.

IMO’s Zacks Rank & Key Picks

IMO currently carries a Zacks Rank #3 (Hold).

Some better-ranked stocks from the energy sector are Flotek Industries Inc. FTK, Oceaneering International OII and RPC, Inc. RES. While Flotek Industries sports a Zacks Rank #1 (Strong Buy) at present, Oceaneering International and RPC carry a Zacks Rank #2 (Buy) each. You can see the complete list of today’s Zacks #1 Rank stocks here.

Flotek Industries specializes in green chemistry, which provides innovative solutions aimed at reducing the environmental impact of the energy industry. Flotek develops specialty chemicals tailored for both domestic and international energy producers, as well as oilfield service companies. These chemicals not only help reduce the environmental impact of hydrocarbon production but also lower operational costs.

Oceaneering International delivers integrated technology solutions across all stages of the offshore oilfield lifecycle. The company is a leading offshore equipment and technology solutions provider to the energy industry. OII’s proven ability to deliver innovative, integrated solutions supports ongoing client retention and new business opportunities, ensuring steady revenue growth.

RPC generates strong and stable revenues through a diverse range of oilfield services, including pressure pumping, coiled tubing and rental tools. The company is strongly committed to returning value to its shareholders through consistent dividend payments and share buybacks, making it an attractive choice for investors seeking steady returns.

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This article originally published on Zacks Investment Research (zacks.com).

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