Total restructuring downstream businesses

By OGJ editors

Total SA is restructuring its downstream business to separate manufacturing from supply and marketing while emphasizing that it remains committed to its integrated structure.

“We remain fully integrated, from oil and gas exploration to the manufacturing and sale of refined products and plastics,” said Christophe de Margerie, chairman and chief executive officer.

Some oil and gas companies recently have abandoned integrated organization. Marathon Oil Corp. has spun off its downstream properties into a separate company (OGJ Online, July 1, 2011). And ConocoPhillips has disclosed plans to split into upstream and downstream entities (OGJ Online, July 25, 2011).

Under its new structure, a refining and chemicals division, based in Brussels and Paris with senior managers in Brussels, will operate all downstream production. The operations will include specialty chemicals and fertilizers.

The other new division will oversee global supply and marketing of petroleum products.

At yearend 2010, Total had 2.363 million b/d of refining capacity worldwide in the 24 refineries in which it held interests, operating 12 of them. The refineries are in Western Europe, the US, Africa, and China. In a joint venture with Saudi Aramco, it is building a 400,000 b/d high-conversion refinery at Jubail, Saudi Arabia (OGJ Online, Mar. 30, 2010).

Total’s worldwide product sales in 2010 averaged 3.776 million b/d, including trading operations. Its global marketing network last year comprised 17,490 service stations.

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