Total Posts Drop In Q1 Refining Margin

Total SA

reported a drop in its refining margin in the first quarter versus with the first quarter of the previous year. Total's refining margin fell to $20.9 per metric ton, from $24.6 per ton in the year-ago quarter and versus $15.1 per ton in the fourth quarter of 2011. Total's gas price in the quarter climbed to $7.16 per million of British thermal units, versus $6.79 in the fourth quarter 2011 and versus $6.19 in the year-ago quarter. Total's shares closed at $47.77 on Friday.