Dutch Shell, French Total in cooperation to boost profits

(MENAFN) Royal Dutch Shell and French Total, amongst the top oil companies, are set to cooperate in their refining and business operations in hopes of maneuvering over falling prices and boosting profits, Reuters reported.

The bilateral stratagem, the two companies are set to undertake, will enable both from seizing rapid profits from the always-changing prices of distinct oil sources and products imported into their plants.

"As traders grew assets in downstream, majors realized there was a lot of money to be made on optimization. So to a certain extent, trading houses encouraged us to change," an official from one if the firms said.