Total: refining margin down in 2nd quarter

(CercleFinance.com) - Total says that its contribution margin (refining margin) has dropped to 27.
6 dollars per tonne in the second quarter of 2019, compared to 33 dollars in the previous quarter and 33.9 dollars the year before.

This margin is equal to the difference between sales of refined products achieved by Total's European refining, and purchases of crude oil with the variable associated costs divided by the quantities refined in tonnes.

The energy company also specifies that in this quarter just gone, the average Brent crude oil price came to 68.9 dollars per barrel ($/b), the average realised liquids price to 63.7 $/b, and gas to 3.82 $/Mbtu.

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