Shell, Total align trading and refining units to drive profit growth
By Dmitry Zhdannikov and Ron Bousso: 1 May 2015
Shell, Total align trading and refining units to drive profit growth
* Shell, Total restructure to combat falling oil prices
* Refinery profits also under pressure from competition
* Oil firms fighting off challenge from trading houses
LONDON, May 1 (Reuters) – Top oil firms Royal Dutch Shell and Total are bringing their refining and trading operations closer together, seeking alternative ways to drive profits as oil prices fall and independent trading houses expand into their territory.
The restructuring will enable the Anglo-Dutch and French companies’ in-house traders to capture profits faster from the fluctuating prices of the different crude oil sources and products coming through their refineries.
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