13 February 2013 08:39 [Source: ICIS news]
(recasts lead, with details added)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)
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