Total: refining margin falls in Q2
(CercleFinance.com) - Total has announced that its variable cost margin, Refining Europe (refining margin), fell to 14.
3 dollars per tonne in Q2 2020, from 26.3 dollars in Q1 2020 and 27.6 dollars a year ago.
For the record, this margin is equal to the difference between Total's European sales of refined products and purchases of crude oil, coupled with associated variable costs, divided by the quantities refined in tonnes.
In addition, Total said that over the past quarter the average Brent crude oil price was 29.6 dollars per barrel, the average sale price of liquids was 23.4 dollars per barrel, the average gas price was 2.61 dollars per Mbtu and the average LNG price was 4.40 dollars per Mbtu.
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