TotalEnergies CEO: Refining Margins Unprecedented Amid Iran Conflict
ByAinvest
Tuesday, Mar 24, 2026 3:32 pm ET1min read
TTE--
TotalEnergies CEO Patrick Pouyanné says the world has "never experienced" soaring refining margins like the current levels, driven by the ongoing war with Iran and surging oil prices. Brent crude is trading above $100 a barrel, with product prices, including Asian jet fuel, reaching record highs. Pouyanné expects prices to move substantially higher if the conflict continues through the summer. The company is investing in U.S. oil and gas projects after abandoning its offshore wind projects in exchange for $1 billion.
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