Total’s refining margins grow

Suzie Neuwirth
FRENCH power giant Total yesterday said its refining margins in Europe rose to $10.90 (£6.40) per tonne in the second quarter, recovering from the start of the year.

This was an increase from $6.60 per tonne in the first three months of 2014, but a sharp decline from $24.10 per tonne a year ago. European oil refineries have suffered due to the economic slowdown and a glut of refined oil products from the US due to an export ban on the country’s crude.

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