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Total Confirms Plans to Merge Refining and Chemical Businesses

8:31 AM MDT | October 10, 2011 | Ian Young

Total has confirmed earlier reports that it will combine its refining and chemicals businesses into a single division. Total's marketing operations will be split from refining to create a separate supply and marketing division. The move is a "response to profound changes in the business and competitive environment" but it will not involve any job cuts, Total says. The company did not say when the reorganization would take place. The new refining and chemicals division will comprise Total's refining and petrochemical operations, as well as its Atotech...

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