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Gold/Mining/Energy : Strictly: Drilling and oil-field services -- Ignore unavailable to you. Want to Upgrade?

To: The Fix who wrote (57283)	12/23/1999 12:38:00 AM
From: IndioBlues	Respond to of 95453

SLB introduces eCommerce to the Patch. Check out this story reported tonight on Bloomberg: Schlumberger Conducts First Online Auction with Commerce One MarketSite Portal; Four Suppliers Offer Industrial Commodities in Reverse Auction Business Editors and High Tech Writers WALNUT CREEK, Calif.--(BUSINESS WIRE)--Dec. 22, 1999--Commerce One, Inc.(NASDAQ:CMRC), the global leader in business-to-business electronic commerce solutions, today announced that Schlumberger Oilfield Services, a global business segment of Schlumberger Limited, has conducted its first live auction using Commerce One Auction Services. The reverse auction with four suppliers was conducted on December 15 and was the first live auction completed through Commerce One MarketSite, the global trading portal. A Schlumberger procurement center located in Houston, Texas, issued an online request for quotations (RFQ) for two industrial commodities to four suppliers. The suppliers responded online with competing price quotes. When the auction closed with a winner, Schlumberger had achieved significant cost savings by purchasing the required goods at prices lower than would have been possible using previous paper-based transactions. "We were pleased with the cost and time saving results we achieved with our first reverse auction through Commerce One MarketSite," said William Lynch, director, global procurement and logistics for Schlumberger Oilfield Services. "Having experienced this initial reverse auction, we now see even greater opportunity for additional auctions and cost savings than initially expected."