TotalEnergies Sees Refining Margin Nearly Quadruple in Third Quarter
The French energy company expects its refining margin to reach $33.20 per barrel, with full quarterly results due October 29.
Key takeaways
- TotalEnergies expects a third-quarter refining margin of $33.20 per barrel.
- The company reported a margin of $8.40 per barrel in the year-earlier quarter.
TotalEnergies expects its third-quarter refining margin to reach $33.20 per barrel, nearly four times the $8.40 reported a year earlier, the company said.
The war involving the United States, Israel and Iran has effectively closed the Strait of Hormuz, disrupting global supplies and pushing oil and gas prices to multi-year highs, according to Der Spiegel.
TotalEnergies shares traded at €81, up 1.04% from the previous close, as of 09:52 UTC on October 15. The company is scheduled to publish full quarterly results on October 29.
This article was produced with the help of AI technology. Based on reporting by the outlets listed above.
