Total Fina to move offices to Houston

Journal Record, The (Oklahoma City), Sep 28, 1999

PLANO, Texas (Bloomberg) -- Total Fina, France's largest oil company, will move the Dallas-area offices of its Fina unit to Houston next year to cut costs and better oversee operations in southeastern Texas.

Paris-based Total bought Fina's parent company, PetroFina of Brussels, in early July. Total Fina now plans to buy French rival Elf Aquitaine for $54 billion to create the world's fourth-largest oil company.

Fina is asking its 500 employees in Plano to move to Houston, and has offered to pay moving costs. Those who don't accept a transfer will receive severance or early-retirement packages. Relocating the unit will put the staff closer to Total Fina and Elf offices, fields, and chemical plants in southeastern Texas, the company said Monday.