Euro Refining Margins Hit Total's Bottom Line

摘要

French major Total reported a slide in thirdquarter earnings, with management citing an "endemic problem" of extremely weak refining margins in Western Europe, plus ongoing security issues in Libya and Nigeria and higher exploration charges. The company's adjusted net profit of ?2.72 billion ($3.7 billion)--down by 19% year-onyear--beat an RBC Capital Markets forecast of around ?2.62 billion and a companycompiled analysts' consensus forecast of ?2.6 billion.