Total: refining margin recovers in Q3

(CercleFinance.com) - Total reports that its margin on variable costs, refining Europe (refining margin), has rebounded to 47.
4 dollars per tonne in the third quarter of 2019, well above the 27.6 dollars in the previous quarter, alghough broadly in line with 47.2 dollars a year ago.

For the record, this margin equals the difference between the sales of refined products made by Total's European refining and purchases of crude oil, with associated variable costs, divided by refined quantities in tonnes.

In addition, Total said that over the past quarter, the average price per barrel of Brent stood at 62 dollars ($/b), while the average price of liquid sales was 58 dollars per barrelf gas was 3.48 dollars/Mbtu.



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