Catégorie Refining

Total’s refining margin reaches 5-year low

Europe’s biggest refiner, said third-quarter crude-processing margins shrank to the lowest level in almost five years as fuel demand continued to slide. Total earned $10.60 a metric ton, compared with $51 a ton a year earlier, it said on Tuesday on its website. The indicator, which was $24.10 a ton in the second quarter, has […]

The European refining industry is undergoing a shake-out

Gary Klesch likes trouble. The American financier made his name in the City of London in the 1980s by buying debt in struggling companies, taking on groups such as Eurotunnel, Euro Disney and Heron International, the property group. Today his €5bn Klesch Group empire is focused on industrial commodities but his appetite for businesses in […]