France’s Total Q4 refining and chemicals profit rise to €406m

13 February 2013 08:39  [Source: ICIS news]

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SINGAPORE (ICIS)--French oil and gas major Total said on Wednesday its refining and chemical business’ adjusted net operating income rose from €35m ($47m) year on year to €406m in the 2012 fourth quarter due to improvements in the refining environment.

The European refining margin indicator averaged $33.90/tonne in the fourth quarter of 2012, nearly double the average of $15.10/tonne during the same period of 2011, Total said.

The company’s overall adjusted net income increased by 13% year on year to €3.08bn in the fourth quarter, with sales up by 5% to €49.9bn, the company said.

For the full year of 2012, Total’s adjusted net income rose by 8% year on year to €12.4bn, with sales up by 8% at €200.1bn.

($1 = €0.74)

By: Surinder Malhi
+65 6780 4327

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