Trading Statement

Trading Statement

Total

 

Total (Paris:FP) (LSE:TTA) (NYSE:TOT):

Â	$/€	Brent ($/b)	Average liquids price* ($/b)	Average gas price* ($/Mbtu)	Variable cost margin, European refining** ($/t)
Fourth quarter 2019	1.11	63.1	59.1	3.76	30.2
Third quarter 2019	1.11	62.0	58.0	3.48	47.4
Second quarter 2019	1.12	68.9	63.7	3.82	27.6
First quarter 2019	1.14	63.1	58.7	4.51	33.0
Fourth quarter 2018	1.14	68.8	59.2	5.01	40.8

* Sales in $ / sales in volume for consolidated subsidiaries (excluding stock value variation).
** This indicator represents the average margin on variable costs realized by Total’s European refining business (equal to the difference between the sales of refined products realized by Total’s European refining and the crude purchases as well as associated variable costs, divided by refinery throughput in tons).

Disclaimer: data is based on Total’s reporting and is not audited. To the extent permitted by law, TOTAL S.A. disclaims all liability from the use of the main indicators.

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