Halliburton's Chief Executive Officer, Dick Cheney, was
optimistic about the outlook for 2000 and beyond because of
robust global economic conditions and strong oil and gas prices
that were boosting cash flows for its energy industry customers.
``These customers plan to increase their worldwide 2000
spending by slightly more then 10 percent, which will likely be
most evidenced in Halliburton's performance in the second half of
the year,' Cheney said in a statement.
dailynews.yahoo.com
Schlumberger Ltd (NYSE:SLB - news). (NYSE:SLB - news), the
world's No. 2 oilfield services company, said on Wednesday its fourth-quarter earnings fell sharply,
in line with analysts' expectations, but it added that business was starting to pick up again and
predicted that this trend would continue.
``Industry confidence is being restored by rising oil demand and renewed OPEC discipline,'
Schlumberger Chairman and Chief Executive Officer Euan Baird said in a written statement.
Unlike oil companies, which benefited immediately from the sharp rebound in oil prices triggered by
OPEC production curbs last year, service companies have only recently begun to feel the first
positive effects.
biz.yahoo.com
PS I think we are just very early in changing trends...$30 bucks oil would seem like huge bargain when adjusted for inflation in 2-3 years...Gold at $280, would seem like a joke, like AOL at $5 while back |
