Total third-quarter profit falls as European refining hurts

French oil company Total (FP.PA) said third-quarter adjusted net profit fell 19 percent year-on-year to 2.7 billion euros ($3.72 billion), hit by very low refining margins in Europe and higher exploration costs. "Refining margins are extremely weak, we still have this endemic problem," Chief Financial Officer Patrick de La Chevardiere told reporters on a conference call on Thursday.

via Business News - Yahoo Finance http://finance.yahoo.com/news/total-third-quarter-profit-falls-071227822.html