TotalEnergies has become the latest supermajor to flag weak refining margins as the key drivers of expected lower third-quarter results. The downstream earnings of TotalEnergies are expected “to sharply decrease given much lower refining margins” in Europe and in the rest of the world, the French oil and gas giant said in a preview of its Q3 earnings to be published on October 31. The European Refining Margin Marker (ERM) – the market indicator for European refining representative of the company’s European refining system…
