Total: sequential fall in refining margin
(CercleFinance.com) - According to the European Refining Margin Indicator (ERMI), Total's refining margin dropped to 33 dollars per tonne in the first quarter of 2019, down from 40.
8 dollars in Q4 2018, although up from 29.8 dollars year ago.
In addition, Total said that over the past quarter, the average price of Brent stood at 63.1 dollars per barrel, the average price of liquid sales at 58.7 dollars per barrel, while gas was 4.51 dollars/Mbtu.
Indicators of average liquid sales prices and average gas sales prices have been modified and a new margin indicator on variable refining costs in Europe has been introduced to replace the ERMI (European Refining Margin Indicator).
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8 dollars in Q4 2018, although up from 29.8 dollars year ago.
In addition, Total said that over the past quarter, the average price of Brent stood at 63.1 dollars per barrel, the average price of liquid sales at 58.7 dollars per barrel, while gas was 4.51 dollars/Mbtu.
Indicators of average liquid sales prices and average gas sales prices have been modified and a new margin indicator on variable refining costs in Europe has been introduced to replace the ERMI (European Refining Margin Indicator).
Copyright (c) 2019 CercleFinance.com. All rights reserved.