Total: sharp recovery in refining margin
(CercleFinance.com) - According to the European Refining Margin Indicator (ERMI), Total's refining margin rose to 34.
7 dollars per tonne in the second quarter of 2018, up from 25.6 dollars per tonne in the previous quarter and 41 dollars per tonne a year earlier.
The ERMI indicator represents a complex theoretical North European refinery located in Rotterdam, which processes a raw cocktail representative of the region's average supply to supply major products listed in the same zone.
In addition, the energy company said that over the past quarter, the average price of Brent oil was 74.4 dollars per barrel ($/b), the average price of liquid sales was 69.5 dollars/b, and that of gas was 4.49 dollars/Mbtu.
Copyright (c) 2018 CercleFinance.com. All rights reserved.
7 dollars per tonne in the second quarter of 2018, up from 25.6 dollars per tonne in the previous quarter and 41 dollars per tonne a year earlier.
The ERMI indicator represents a complex theoretical North European refinery located in Rotterdam, which processes a raw cocktail representative of the region's average supply to supply major products listed in the same zone.
In addition, the energy company said that over the past quarter, the average price of Brent oil was 74.4 dollars per barrel ($/b), the average price of liquid sales was 69.5 dollars/b, and that of gas was 4.49 dollars/Mbtu.
Copyright (c) 2018 CercleFinance.com. All rights reserved.