BAKU, Azerbaijan, April 27. TotalEnergies' refining throughput experienced an uptick of 3 percent quarter-to-quarter, reaching 1,424 thousand barrels per day (kb/d), compared to 1,381 kb/d in 4Q2023, Trend reports.
According to the company, this increase also reflects a 2-percent rise year-on-year, with throughput standing at 1,403 kb/d in 1Q023.
The restart of Satorp in Saudi Arabia played a significant role in driving this growth, despite an unplanned shutdown at the Donges refinery in France, the company explained. Of the total throughput, France contributed 382 kb/d, while the majority came from the rest of Europe at 618 kb/d. The rest of the world accounted for 424 kb/d.
Furthermore, petrochemicals production witnessed a substantial increase, with monomers rising by 16 percent quarter-to-quarter from 1,114 thousand tons (kt) to 1,287 kt, and polymers increasing by 9 percent from 985 kt to 1,076 kt. This growth was fueled by improved steam cracker utilization rates in Europe and the US, TotalEnergies noted.
Meanwhile, the adjusted net operating income for refining and chemicals soared to $962 million in 1Q2024, marking a 52-percent increase compared to the previous quarter. This surge can be attributed to elevated refining margins and increased refinery throughput, the company said.