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Main Indicators
Chart updated around the middle of the month following the end of each quarter.
2012
| €/$ | European refining margins ERMI* ($/t)** | Brent ($/b) | Average liquids price*** ($/b) | Average gas price*** ($/Mbtu) | |
|---|---|---|---|---|---|
| First Quarter | 1.31 | 20.9 | 118.6 | 115.2 | 7.16 |
* European Refining Margin Indicator (ERMI) is an indicator intended to represent the margin after variable costs for a hypothetical complex refinery located around Rotterdam in Northern Europe that processes a mix of crude oil and other inputs commonly supplied to this region to produce and market the main refined products at prevailing prices in this region. - The indicator margin may not be representative of the actual margins achieved by Total in any period because of Total's particular refinery configurations, product mix effects or other company-specific operating conditions.
** 1 $/t = 0.136 $/b
*** consolidated subsidiaries, excluding fixed margin and buy-back contracts. Beginning with the first quarter of 2012, includes hydrocarbon production overlifting / underlifting position valued at market price.
2011
| €/$ | European refining margins ERMI* ($/t)** | Brent ($/b) | Average liquids price*** ($/b) | Average gas price*** ($/Mbtu) | |
|---|---|---|---|---|---|
| Fourth Quarter | 1.35 | 15.1 | 109.3 | 104.3 | 6.79 |
| Third Quarter | 1.41 | 13.4 | 113.4 | 106.8 | 6.56 |
| Second Quarter | 1.44 | 16.3 | 117.0 | 110.6 | 6.60 |
| First Quarter | 1.37 | 24.6 | 105.4 | 99.5 | 6.19 |
* European Refining Margin Indicator (ERMI) is an indicator intended to represent the margin after variable costs for a hypothetical complex refinery located around Rotterdam in Northern Europe that processes a mix of crude oil and other inputs commonly supplied to this region to produce and market the main refined products at prevailing prices in this region. - The indicator margin may not be representative of the actual margins achieved by Total in any period because of Total's particular refinery configurations, product mix effects or other company-specific operating conditions.
** 1 $/t = 0.136 $/b
*** consolidated subsidiaries, excluding fixed margin and buy-back contracts
Disclaimer: these data are based on Total's reporting and are not audited. They are subject to change.
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Updated Apr. 16, 12
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