Total Confirms Plans to Merge Refining and Chemicals

De Margerie: Integration from oil and gas, to refined products and plastics. 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 reorganization is due to take effect in January 2012. The new refining and chemicals division will...

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