The operation of five refineries of oil company is currently very disturbed. With a significant economic impact for a group that has invested heavily in its downstream arm in France.
How is costing the strike in refineries to an operator like Total? The tricolor company is in first line since it operates five of the eight French refineries. The French group is silent on the subject but according to several recurrent estimates, the economic impact would vary between 40 and 45 million per week. The French group saw particularly badly the current movement that has invested heavily in modernizing its refining in France, more than 2 billion since 2012. By the way, technically, the interruption of a refinery is nothing trivial: if the site is indeed completely stopped, it takes several weeks for the re-start
a few days ago, in an email. to all sites, Philippe Sauquet, general manager of the refining and chemical branch at Total, sent a warning shot: “the events unfolding right now in our refineries are extremely serious and are a hostage our activities and our sites to feed a fight that is not ours, “he first indicated. “If we were not able to avoid such circumstances in the judgment of our units, it goes without saying that our customers would reconsider the confidence they have placed in us, and we should revise our projects future with lucidity, “said he said.
This warning shot was followed by a real warning from Patrick Pouyanné, the CEO of Total. Speaking Tuesday on the sidelines of the general meeting of shareholders, the officer was very firm, noting that the total or partial blockage of the five refineries could lead the French group to “seriously review” the investments it had planned to restructure the area. In the entourage of Total, we refuse to use the word “blackmail”, and highlights the vision of Patrick Pouyanné is guided first and foremost by pragmatism.
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