Total Appear Set To Merge Refinery & Petrochemicals

Total is preparing a reorganisation to merge its refinery and petrochemical activities, the newspaper Les Echos reported, citing several trade union sources. The reorganisation, which entails making the distribution of petrol independent from refineries, is expected to be announced during the autumn and seeks to extract cost savings.

Total petrochemicals has nearly 6,000 employees worldwide, according to the company's website. The refinery business makes fuels & LPG.

The reorganisation would be Total's biggest since it created French specialty chemical maker Arkema in 2004.

 PETROLWORLD 25/08/2011

Source: Les Echos, Reuters