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

To: Thean who wrote (12869)2/26/1998 7:47:00 AM
From: marc chatman  Read Replies (1) | Respond to of 95453
 
I heard on CNBC something about OPEC members calling for an emergency session to do something about oil prices. I cannot confirm this yet. Has anyone else heard this news? CNBC also reported that European oil companies (they mentioned Elf Aquataine and one other) were up about 3% on the news (or rumor?), and as Thean pointed out, oil is also up substantially.

I'll continue to search for the news and will post if I find anything.



To: Thean who wrote (12869)2/26/1998 7:56:00 AM
From: Teddy  Respond to of 95453
 
In London trading:
"Overnight, newspapers reported that oil services and engineering company Halliburton Co (HAL - news) was on the verge of
announcing a bid for rival Dresser Industries Inc (DI - news) for $7.7 billion.

Halliburton shares were down $5/8 at $43-5/8 while Dresser was indicated up $1-1/2 at $40.

Others in the sector benefited, with Schlumberger (SLB - news) marked up $3/8 at $74 and Baker Hughes Inc (BHI - news)
up $5/8 at $37-1/2."


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