Total: refining margin falls in Q4
(CercleFinance.com) - Total says that its margin on variable costs, refining Europe (refining margin), fell to 30.
2 dollars per tonne in Q4 02019, compared to 47.4 dollars in Q3 and 40.8 dollar a year earlier.
For the record, this margin is equal to the difference between the sales of refined products made by Total's European refining and the purchases of crude oil, with associated variable costs, divided by the quantities refined in tonnes.
In addition, the energy giant specifies that over the past quarter, the average price of Brent stood at 63.1 dollars per barrel ($/b), the average sale price of liquids was 59.1 dollars/b, while that of gas was 3.76 dollars/Mbtu.
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2 dollars per tonne in Q4 02019, compared to 47.4 dollars in Q3 and 40.8 dollar a year earlier.
For the record, this margin is equal to the difference between the sales of refined products made by Total's European refining and the purchases of crude oil, with associated variable costs, divided by the quantities refined in tonnes.
In addition, the energy giant specifies that over the past quarter, the average price of Brent stood at 63.1 dollars per barrel ($/b), the average sale price of liquids was 59.1 dollars/b, while that of gas was 3.76 dollars/Mbtu.
Copyright (c) 2020 CercleFinance.com. All rights reserved.