U.S. INDUSTRY SCOREBOARD 4/5 [44,127 bytes]
Topping oil industry news is the planned merger of BP Amoco and ARCO (see story, p. 38). The deal to create the world's second-largest oil company comes only 3 months after completion of the BP-Amoco merger.
In other merger news, the European Commission has approved the union of Total and Petrofina, under the provision that Total sell minority interests in two of its five oil storage depots in northern France. Total says this means its acquisition of the Petrofina shares held by Belgium's Electrafina, Tractebel, Electrabel, and other major shareholders-about 41% of Petrofina stock-is now effective. The approval is also ...