ENERGY BRIEFS

ENERGY BRIEFS

W. German Oil Imports

Increased in JanuaryFRANKFURT, West Germany - West German crude oil imports in January were 43.9 million barrels, up from 38.6 million in December and 39.9 million in January 1987, the federal Office for the Economy in Eschborn said Thursday.

The average price of imports in January was 29.38 deutsche marks a barrel (about US$17.25 at Wednesday's prices), down from DM30.9 in December and DM33.6 in January 1987.

West Germany's leading suppliers in January were the United Kingdom with 12.1 million barrels, Norway with 6.3 million barrels and Libya with 6.0 million barrels.

Texaco to Sell Stake

To Saudi Arabia?

LONDON - Texaco Inc. plans to sell a stake of about 50 percent in its extensive U.S. Gulf Coast refining operations to Saudi Arabia for more than $1 billion, according to the International Herald Tribune.

A final agreement between Petromin, the Saudi Arabian oil holding arm, and Texaco is expected to be reached within a month, the Herald Tribune reported Thursday, quoting unidentified Texaco and Arab oil executives.

In White Plains, N.Y., a spokesman at Texaco's headquarters refused to confirm or deny the accuracy of the report.

Wolverine Discovers

Natural Gas Off Texas

FORT WORTH, Texas - Wolverine Exploration Co. announced a significant natural gas discovery offshore Texas.

The well produced 17.7 million cubic feet of gas a day with 451.2 barrels of 47.9-degree American Petroleum Institute gravity oil a day, from a 30-foot zone.