TotalFinaElf, Europe's third largest publicly floated oil company, is looking to improve returns from its retail fuel business amid the industry's biggest slump in a decade or more. The French based international is “reorganizing” its networks, Thomas Fell, a spokesman for the company, said in an interview, declining to be more specific. The Figaro newspaper reported last Saturday that Total will use the Elf name as a discount fuel retailer in towns, renaming other outlets under the Total brand. “It's not a bad idea to differentiate the two brands within France,” said Ignace De Coene, a fund manager at Fortis Investment Management in Brussels, who oversees 110 billion euros ($99 billion) of assets. “What they will try to do now is keep the Total brand as a premium brand and with the Elf brand just go for low prices. It is a pretty sensible thing to do.” Oil companies such as BP and Royal Dutch/Shell Group have said their first quarter results, expected to be announced this week, will reflect the worst refining and marketing environment in more than ten years.
Russian small missile ships - the Grad Sviyazhsk and the Great Ustyug - set off for a mission to the Mediterranean Sea
These days, Russia is welcoming over 2 million fans from all over the world. Many of them came to Russia expecting something dangerous and even life-threatening