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Total seeks buyer for half of Texas refinery

Total has been trying to cut its exposure to refining since 2012, and plans to reduce its European refining and petrochemical capacity by 20 per cent by 2017.

New York

FRENCH oil major Total SA is selling a 50 per cent stake in its sole US refinery in Port Arthur, Texas, and has retained investment bank Lazard to advise on the deal, according to a source familiar with the matter.

Total, which has been trying to reduce its downstream