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Total confirms UK downstream review

10 September, 2010

Total UK has confirmed it is undertaking a strategic review of its UK downstream operations. As part of this review it is considering the sale of its marketing assets in the UK. The sale would exclude Aviation, Special Fluids and Lubricants.

The process concerning Lindsey Oil Refinery (LOR) continues independently of this.

A spokesman said: "Total has been present in all aspects of the energy supply chain in the UK for many years. This review does not affect Totalís other UK activities in Upstream (Exploration and production, gas and power) and Chemicals."

With its recent £2.5 billion investment in the West of Shetland, Total confirmed its commitment to pursuing its investments in the North Sea and to its long-term objective of helping to secure energy supplies for the United Kingdom.