TotalEnergies reports that its European refining margin indicator rose sequentially to $71.7 per tonne in the first quarter of 2024, compared with $52.6 in the last three months of last year.

Downstream results will reflect higher refining margins, with refinery utilization rates in the first quarter of 2024 broadly stable compared to the fourth quarter of 2023', says the energy group.

TotalEnergies adds that it anticipates stable hydrocarbon production in excess of 2.45 Mboe/d (million barrels of oil equivalent per day), driven by higher LNG production and the start-ups of Mero 2 in Brazil and Akpo West in Nigeria.

Copyright (c) 2024 CercleFinance.com. All rights reserved.