Total in $20-billion divestment plan; restructures refining, chemicals

Total has announced a $15 billion–$20 billion asset-disposal program across its businesses in 2012–14. Chairman and CEO Christophe de Margerie announced the program and outlined Total’s outlook and objectives for the next few years at a recent investor meeting in London. De Margerie: Restructuring of refining and chemicals will improve synergies and efficiencies. Implementation of Total’s strategic vision, outlined by the company’s management last year, is progressing, the company says. Its exploration program is focused on...

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