French energy giant Total is planning to relocate its trading operations to Geneva, in a move thought to affect around 200 jobs.
The firm will move the jobs from London to Geneva in a bid to consolidate marketing activities split between those two cities and Paris.
Total said Brexit was “not at all a factor” and that the firm’s North Sea operations are not affected by the plans.
The firm said the changes came following its $1.5bn (£1.1bn) acquisition last year of Engie’s LNG business.
It is understood that Total is in talks to sell some of its North Sea assets, with reports emerging in November that the French energy giant was in talks with investment managers First Alpha Energy and Albion Energy Capital.
Total also completed a £5.8bn takeover of Maersk Oil in March last year.