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TotalEnergies expects a significant increase in first-quarter earnings.
TotalEnergies' refining margin in Europe rose 192% year-on-year to $11.40 per barrel.
KEY POINTS
- The Iran war shut down 15% of TotalEnergies' production but overall upstream earnings rose.
- Strait of Hormuz closure and Gulf attacks damaged LNG supply to Total and the SATORP refinery.
- TotalEnergies saw significant LNG trading earnings gains from market volatility amid regional conflict.
COMPANIES
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