Total S.A.
12 July 2005
Total Increases Its Interest In Italy's Rome Refinery
and Disposes of Stake in France's Reichstett Refinery
Paris - July 12, 2005 - Total announces the signature of a Memorandum of
Understanding for the acquisition of Shell's 20% stake in the Raffineria di Roma
S.p.A which owns Italy's Rome refinery, raising its own stake to 77.5%, in
return for Group's 18% interest in the Compagnie Rhenane de Raffinage S.A. which
owns France's Reichstett refinery to Shell. Definitive shareholding
percentages are conditional to partners possible exercise of their right of
pre-emption.
The Rome refinery has a capacity of 4 million metric tons a year and is located
near the port of Fiumicino. Total's downstream activities in Italy also include
marketing automotive fuel through a network of around 1,400 service stations, as
well as petroleum products, such as lubricants, asphalt and bitumen, aviation
fuel, liquefied petroleum gas (LPG), fuel oil and heating oil.
Total is Europe's largest refiner, operating 12 facilities in Europe. With this
agreement, Total confirms both its commitment to strengthening its presence on
the Mediterranean Rim and its growth strategy in Italy.
*****
Total is the fourth largest oil end gas company in the world with operations in
more then 130 countries. Total's activities cover the whole energy chain of the
petroleum industry: exploration, oil and gas production, refining and marketing,
trading and power generation. The Group is also a major player in chemicals.
Total has more than 111,000 employees worldwide. More information can be found
on the company's website: www.total.com
This information is provided by RNS
The company news service from the London Stock Exchange
*A Private Investor is a recipient of the information who meets all of the conditions set out below, the recipient:
Obtains access to the information in a personal capacity;
Is not required to be regulated or supervised by a body concerned with the regulation or supervision of investment or financial services;
Is not currently registered or qualified as a professional securities trader or investment adviser with any national or state exchange, regulatory authority, professional association or recognised professional body;
Does not currently act in any capacity as an investment adviser, whether or not they have at some time been qualified to do so;
Uses the information solely in relation to the management of their personal funds and not as a trader to the public or for the investment of corporate funds;
Does not distribute, republish or otherwise provide any information or derived works to any third party in any manner or use or process information or derived works for any commercial purposes.
Please note, this site uses cookies. Some of the cookies are essential for parts of the site to operate and have already been set. You may delete and block all cookies from this site, but if you do, parts of the site may not work. To find out more about the cookies used on Investegate and how you can manage them, see our Privacy and Cookie Policy
To continue using Investegate, please confirm that you are a private investor as well as agreeing to our Privacy and Cookie Policy & Terms.