TotalEnergies Sees Bonanza in Refining Margins, Adds Output in Europe
Attachment: TotalEnergies3Q22 overall, TotalEnergies3Q22 refining
July 19, 2022--Researched by Industrial Info Resources (Sugar Land, Texas)--TotalEnergies SE (NYSE:TTE) (Courbevoie, France) expects to ride a wave of high margins for refined petroleum products, such as distillates and gasoline. Executives are preparing to announce "exceptional" second-quarter results for the company's refining and chemicals operations, notably in its European business, which is seeing some of the tightest conditions in the global refining sector. The results could bode well for other refiners, who also are set to benefit from the high-demand, low-supply forecast.
Industrial Info is tracking about US$79 billion worth of active projects from TotalEnergies, including US$1.72 billion worth in the Petroleum Refining Industry. In addition to major refining projects in France and Texas, the company is commissioning a new ethane cracker at its Port Arthur complex and bolstering production in the Danish North Sea.
Other companies featured: NOVA Chemicals, Borealis AG and Norwegian Energy Company ASA.