Trading Statement

Trading Statement

TOTAL

Total: Main Indicators

Total (Paris:FP) (LSE:TTA) (NYSE:TOT) :

Chart updated around the middle of the month following the end of each quarter

	Â		Â		Â		Â		Â
				European refining
Â	Â	€/$	Â	margins ERMI* ($/t)**	Â	Brent ($/b)	Â	Average liquids price*** ($/b)	Â	Average gas price ($/Mbtu)***
Second quarter 2011	Â	1.44	Â	16.3	Â	117.0	Â	110.6	Â	6.60
First quarter 2011	Â	1.37	Â	24.6	Â	105.4	Â	99.5	Â	6.19
Fourth quarter 2010	Â	1.36	Â	32.3	Â	86.5	Â	83.7	Â	5.62
Third quarter 2010	Â	1.29	Â	16.4	Â	76.9	Â	72.8	Â	5.13
Second quarter 2010	Â	1.27	Â	31.2	Â	78.2	Â	74.8	Â	4.82
											Â

* European Refining Margin Indicator (ERMI) is an indicator intended to represent the margin after variable costs for a hypothetical complex refinery located around Rotterdam in Northern Europe that processes a mix of crude oil and other inputs commonly supplied to this region to produce and market the main refined products at prevailing prices in this region. - The indicator margin may not be representative of the actual margins achieved by Total in any period because of Total’s particular refinery configurations, product mix effects or other company-specific operating conditions.

** 1 $/t = 0.136 $/b

*** consolidated subsidiaries, excluding fixed margin and buy-back contracts

Disclaimer : these data are based on Total’s reporting and are not audited. They are subject to change.

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