Japanese to Receive

Oil Price CompensationAbu Dhabi will compensate Japanese oil companies for losses resulting from the difference between official Organization of Petroleum Exporting Countries' crude oil prices and spot market prices, the French oil magazine Petrostrategies reported Monday.

The weekly said the United Arab Emirates had given its Japanese customers verbal assurances of compensation, adding that UAE Oil Minister Mana Saeed al- Otaiba had agreed to the deal in Tokyo with Japanese oil companies, which will pay official rates for Abu Dhabi crude, but the necessary adjustments will be made retroactively, it said.

Senior Managers Plan

Buy-out of Yankee Gas

DUBLIN, Ohio - A group of senior managers of the Yankee Gas Co., said they will purchase the company from its parent and reorganize the business under the new name Access Energy Corp.

Yankee Gas Co., a subsidiary of Yankee Cos. Inc., Boston, is one of a number of natural gas brokering firms that have flourished under new federal regulations that allow open access to interstate pipelines.

The buy-out will be engineered by Donaldson Lufkin and Jenrette Securities Corp., New York., which will retain a substantial interest in the company.

Under the agreement, Yankee Cos. will exchange its interest in Yankee Gas and certain other property for $45 million in debt securities and accrued interest held by Donaldson Lufkin & Jenrette. The transaction is valued at approximately $53 million.

Lance W. Schneier, president and chief executive officer of Access Energy said in a written statement that the company would consider acquiring other gas marketing companies.

Gulf Canada Resources

Bids for Asamera

CALGARY, Alberta - Gulf Canada Resources Ltd. announced an offer to

purchase for cash all of the outstanding common shares, 8 percent Series C cumulative redeemable convertible second preferred shares and common share

purchase warrants of Asamera Inc. for C$10.50 a common share, C$25 a preferred share and C$0.35 a warrant.

Gulf Canada said the purpose of the offer is to acquire control of, and the entire equity interest in, Asamera for cash, consistent with Gulf's expanded mandate in the search for oil and gas internationally.

Lead Emissions in Air

Fell 59 percent During 1986

WASHINGTON - Emissions of lead into the atmosphere declined a record 59 percent in 1986, the second largest drop in a row, the Environmental Protection Agency's said in its annual air pollution report.

The decline results from the EPA's decision in 1985 to lower the permissible lead concentration of gasoline by more than 90 percent in two steps, reaching 0.1 grams per gallon in 1986.

Lead in high concentrations is a poison, causing kidney and brain damage.

Though lead can serve as a cheap octane booster in gasoline, it also disables the pollution control equipment installed on most new cars from 1975 to 1980 and on all new cars sold in the United States after that.

As older cars are junked, leaded gasoline has represented a smaller share of the market - 31 percent in 1986 and 24 percent in 1987 - and lead emissions should continue to fall, officials say.

EPA's annual National Air Quality and Emissions Trends Report estimated lead emissions to the air at 9,500 tons in 1986 compared with 23,300 tons in 1985 and 44,200 tons in 1984.

Non-vehicle sources of lead emissions, such as from smelters, showed little change as the decline in vehicle emissions was even more dramatic: from 38,300 tons in 1984 to 17,100 tons in 1985 and 3,900 tons in 1986.

Overall, airborne lead emissions have declined 94 percent since they peaked in 1976, and vehicle emissions have fallen 97 percent.