Soviets Agree to Cut

Price of Oil to FinlandHELSINKI, Finland - The Soviet Union has agreed to reduce the contract price for its 1988 crude oil exports to Finland from a previously agreed $18 a barrel to $16.50 for oil for Finnish consumption and to $16 a barrel for oil to be traded by Finland on the international market, senior executives of Neste Oy, the Finnish state oil company, said.

Under the agreement, Finland will take 80.6 million barrels of Soviet crude for domestic use and 29.3 million barrels for trading.

The trading crude will be divided equally between Neste and Finnish Petroleum.

Soviet Oil Exports

To OECD Seen Rising

FRANKFURT, West Germany - The Soviet Union's net crude oil exports to member countries of the Organization for Economic Cooperation and Development are expected to rise to 66 million to 73 million barrels during the first quarter, up from 47.6 million barrels a year earlier, the International Energy Agency said Monday.

In 1987, Soviet net sales to the OECD were 294 million barrels, up from 256 million barrels in the previous year, according to preliminary IEA estimates.

Exports in the fourth quarter of 1987 were 88 million barrels, up from 75.5 million barrels a year earlier.

The OECD is made up of the United States, Canada, the Western European industrial countries and Japan.

Texaco, S. Calif. Ed

Dedicate Joint Plant

BAKERSFIELD, Calif. - Texaco U.S.A. and Southern California Edison Co. last week dedicated a $165 million cogeneration plant near Bakersfield.

The Sycamore plant and a nearby facility, Omar Hill, produce electricity and steam from a single fuel source. Together, they comprise the largest privately owned cogeneration operation in the world, Texaco said.

The cogeneration plants will use natural gas.

The two companies jointly developed the project for $315 million. The plants will feed up to 600 megawatts of electricity to the Southern California Edison grid, and will generate more than 3.6 million pounds of steam an hour for heavy crude oil recovery operations from the Kern River oil field in Kern County.

US Working Rig Count

Falls by 32 to 946

HOUSTON - The number of oil and gas rigs working in the United States decreased by 32 this week to total 946, Baker Hughes Inc. announced.