Total's EU Refining Margins Soar to Q2 Record

French oil company Total, Europe's biggest refiner, said refining margins in the region had risen to a record high in the second quarter of the year.

French oil company Total, Europe's biggest refiner, said refining margins in the region had risen to a record high in the second quarter of the year.

Total's European refining margins indicator (ERMI) rose to $54.1 per tonne in the second quarter of 2015 from $47.1 in the previous quarter, a table showed on its website on Wednesday.

That was the highest level since records started in 2003, according to figures available on the website. The indicator had hit a four-year low in the first three months of last year.

The Paris-based group announced a restructuring plan for its French refineries in April that will include capacity cuts at its La Mede refinery in Marseille and investments at its Donges refinery on the Atlantic coast.

Reporting by Michel Rose