Friday, April 30, 2010

Oil stocks slide as Gulf spill grows

Gulf Oil 14 Inch Lighted Wall Clock
Oil stocks slide as Gulf spill grows | Reuters

Philadelphia Stock Exchange Oil Service Index. OSX, which includes Halliburton and Transocean, down nearly 4 percent in morning trade.

"This concern is valid direct responsibility, but concerns about disruption in the Gulf of Mexico activity durations (and possibly others) is an additional concern," the energy research firm Tudor Pickering Holt & Co. in a note to clients Friday. (Exploration and production) companies usually compensate for the oil companies and drillers and service counter problems of control. "

Oil and Politics in the Gulf of Guinea (Columbia/Hurst)
Transocean owned horizon depth, which last week sank after an explosion likely killed 11 employees. Oil flows from the seabed to the Louisiana coast, threatening wildlife and commercial fisheries.

Platforms have been entrusted to BP Plc (BP.L) (BP.N), the cost of cleaning the oil slick hole. Anadarko Petroleum Corp. (APC.N) has a 25 percent stake in the well.

Halliburton has a series of works on the stage, while Cameron International Corp. (CAM.N) provided the platform shutter.

BP shares traded in the U.S. fell 1.1 percent, while shares of Transocean in the New York Stock Exchange slid more than 10 percent. Halliburton fell 5 percent and shares fell 4 percent from Cameron.

Anadarko shares fell nearly 6 percent on the New York Stock Exchange trading in the morning.


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