Total: refining margin up in Europe, but stock down

(CercleFinance.com) - On Thursday Total reported that its European refining margin increased in the first quarter to around 5.
3 dollars per tonne.

In comparison, the oil group recorded a margin of 4.6 dollars per tonne over the last three months of 2020.

On an annual basis, i.e. relative to Q1 2020, its margin is nevertheless down sharply, having reached 26.3 dollars in the first three months of last year.

Over the first quarter, the average price of liquids was 56.4 dollars per barrel compared to 41 dollars in the fourth quarter 2020, driven by a recovery in Brent prices.

The average gas price also increased in the last quarter, reaching 4.06 dollars per million British thermal unit (BTU) compared to 3.31 dollars in the previous three months.

However, the Total shares is down 0.5% on Thursday morning after these figures were released.


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