French refiners may close more than one plant as fuel demand weakens, following losses of as much as 3.5 billion euros ($3.8 billion) over the past six years, an industry lobby group said. Should Total SA, which operates five of France’s eight refineries, halt production at one of its sites, more closures would probably follow, Francis Duseux, president of the Union Francaise des Industries Petrolieres, which represents oil companies in the country, told reporters on Tuesday in Paris. “Unfortunately I don’t think it will be finished,” said Duseux, the former head Exxon Mobil Corp.’s French unit. “It will not stop at one refinery except if the state intervenes.” French refineries lost hundreds of millions of euros last year as the 22 euros a metric ton average margin for processing crude was below the break-even level, UFIP said. While Total has yet to unveil details of a refinery […]