European leader
More than 80% of TotalFinaElf's refining capacity and product sales are located in Western Europe. The Group, which is Europe's leading refiner with 16% of total capacity, is also the front-ranked marketer in the group of countries made up of the six biggest European markets.
The new Group can count on an extensive and well balanced grid, combined with quality petrochemicals facilities, established near or linked to the refineries by pipelines.
Optimizing the refining base
Out of 12 refineries operated in Europe, nine are wholly-owned and three are partnerships. The Group also has interests in, but does not operate, two other refineries in France and Germany, and is present in four refineries in Spain through its 45.3% stake in Cepsa.
In 2000, TotalFinaElf's European refining capacity, excluding its stake in Cepsa, was 2.1 Mb/d, and its utilization rate was high, with 2 Mb/d of crude processed taking into account downtime.
Seven refineries (excluding Cepsa) are managed in integrated hub mode with major synergies associated with product exchanges and refining/petrochemical integration exploited during 2000.
In 2000, the break-even point of TotalFinaElf's refining operations averaged $ 10/t, dropping steadily for the last ten years. The impact of synergies generated by the merger of Total and PetroFina and the initial effects of synergies from the merger of Totalfina and Elf Aquitaine contributed to this improvement.
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