The FINANCIAL — France's oil and gas major Total SA Monday said that its European refining margin, an indicator much scrutinized within the industry, dropped in the first quarter this year from the previous to $26.9 per ton.
MAIN FACTS:
In the fourth quarter last year, the European refining margin stood at $33.9 per ton.
In the first quarter last year though, the margin was at $20.9 per ton.
The European Refining Margin Indicator is an indicator intended to represent the margin after variable costs for a hypothetical complex refinery located around Rotterdam in Northern Europe that processes a mix of crude oil and other inputs commonly supplied to this region to produce and market the main refined products at prevailing prices in this region, according to Borsa Italiana Spa.
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