MOSCOW (MRC) -- French oil and gas company Total said that its refining margins in Europe had fallen to USD35.1/ton in the first quarter of the year, said Reuters.
Europe's biggest refiner still reported a European refining margins indicator (ERMI) of USD38.1/ton in the fourth quarter of 2015, a table showed on its website.
As MRC wrote previously, Total intends to invest EUR160m before 2016 to adapt its petrochemical platform in Carling, in the Lorraine region of eastern France, and to restore its competitiveness.
Besides, in April 2015, Total announced that its proposed new ethane cracker near its refinery in Port Arthur, Texas, is being designed to have a capacity of 1 million tpy.
Total S.A. is a French multinational oil and gas company and one of the six "Supermajor" oil companies in the world with business in Europe, the United States, the Middle East and Asia. The company's petrochemical products cover two main groups: base chemicals and the consumer polymers (polyethylene, polypropylene and polystyrene) that are derived from them.
MRC