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Stock impact report

World has 'never experienced' soaring refining margins like this, TotalEnergies CEO tells CNBC [MSNBC.com]

TotalEnergies SE Ordinary Shares (TTE) 
Company Research Source: MSNBC.com
Roughly 15% ofTotalEnergies'With Brent crude trading solidly above $100 a barrel, much of the attention has focused on oil prices, but Pouyanné said the crisis is having a much larger impact on product prices."The Brent market is ok, but the products market, which is the one which impacts customers … is much higher than Brent," he told CNBC at S&P Global's CERAWeek energy conference in Houston. He added, the world has "never experienced" refining margins from products including Asian jet fuel at current levels. In addition to petroleum products, about 30% of global fertilizer moves through the Strait of Hormuz, jeopardizing the spring planting season.TotalEnergies is a major player in the global LNG market, including the largest exporter of U.S. LNG. The CEO said the company can still fulfill customer orders in Europe and Asia thanks to its diversified global portfolio.Last week, Qatar said its Ras Laffan plant suffered "extensive damage" following Iranian drone attacks, effectively t Show less Read more
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