TotalEnergies: refining margin increases in Q1

(CercleFinance.com) - TotalEnergies reports that its European refining margin indicator rose sequentially to $71.
7 per tonne in Q1 2024, up from $52.6 in Q4 last year.

Downstream results reflect higher refining margins, with refinery utilization rates in Q1 2024 broadly stable compared to Q4 2023, the energy group said.

TotalEnergies adds that it anticipates stable hydrocarbon production in excess of 2.45 Mboe/d (million barrels of oil equivalent per day), driven by higher LNG production and the start-ups of Mero 2 in Brazil and Akpo West in Nigeria.


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