Total in $20-Billion Asset Disposal Plan; Expects Major Savings from Refining, Chemicals Restructuring

Total, one of Europe’s major oil companies, said today that it plans a $15-billion–$20-billion asset disposal program over 2012–14. The company is today holding an investor day in London, where chairman and CEO Christophe de Margerie is due to present Total’s outlook and objectives for the next few years.   Total’s strategic vision as outlined by management last year is progressing, the company says. Its exploration program is focused on high-risk, high-reward prospects, and new acreage has added to the potential for giant...

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