Shell, Total to align trading and refining units to drive profits

London

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.

Snapping at their heels are energy brokerages Vitol and Gunvor, which have bought refining plants in Europe i…