1.   Among his holdings are the integrated oil companies Repsol of Spain and YPF of Argentina.

2.   And I like integrated oil company stocks like Conoco, and some of the bigger companies, like Exxon Mobil.

3.   And we are looking at interest-sensitive areas that pay dividends, like utilities, high-quality financial service stocks and integrated oil companies.

4.   Another favorite is the Howell Corp., an integrated oil and gas company in Houston.

5.   He also likes integrated oil companies, which do exploration, production, refining and marketing.

6.   If Repsol acquired YPF, the merged company would be the eighth-largest integrated oil company in the world as measured by asset value.

7.   In one such deal, Tosco, an independent refiner, has acquired the refining arm of Unocal, the big integrated oil company based in Los Angeles.

8.   Independent refiners generally buy their oil on the open market, in contrast to integrated oil companies, which do their own exploring and producing.

9.   Integrated oil and oil services stocks did well after BP Amoco announced a sharp increase in capital spending for the next three years.

10.   Integrated oil companies can offset some of the volatility with their discovery and exploration activities.