Australia's BHP

Sells Oil to BurmaSYDNEY, Australia - Australia's BHP Petroleum Pty. Ltd. has sold between 700,000 and 800,000 barrels of crude oil to Burma for delivery at the end of March, BHP's marketing manager, Daryl Pattison, said Wednesday.

It is the first instance of Burma importing crude oil in several years, Mr. Pattison was quoted as sayinging in the Daily Commercial newspaper.

The crude oil left Westernport Tuesday on board the Sunrise Trader, he said.

He said BHP had won the sale through open tender, adding that no further crude oil contracts have been signed with Burma.

Iroquois Seeks New Site

For Trail Crossover

WASHINGTON - The developer of a proposed 358-mile natural gas pipeline in the Northeast is vowing to find a more suitable place for the project to cross the Appalachian Trail.

Officials at Iroquois Gas Transmission System said they are confident of

finding a new cross-over site that would satisfy Interior Secretary Donald P. Hodel, who rejected the current plan.

Mr. Hodel, in a letter to Sen. Lowell P. Weicker Jr. R-Conn., said the current Iroquois pipeline plan would cross the 2,000-mile Appalachian Trail at a point in New York near the Connecticut border where it would have significant environmental and scenic impacts.

The plan now is to find a place along the New York-Connecticut border where we can cross, said company spokesman Gary B. Davis.

We will have to sit down with the Park Service again and discuss our concern. Something will have to be worked out.

The pipeline would have to cross the Appalachian Trail at some point. The project would bring Canadian natural gas from Ontario through New York and Connecticut to Long Island, serving New York, New Jersey and Connecticut. The hiking trail runs from Maine to Georgia.

Pauley Completes

Fletcher Acquisition

LOS ANGELES - Pauley Petroleum Inc. announced Wednesday that it has completed the acquisition of Fletcher Oil & Refining Co.

The operations of Fletcher's 29,500 barrel-a-day refinery in Carson, Calif., will be coordinated with those of Pauley's Newhall refinery. Both plants produce a full range of petroleum products.

Mark G. Newgard, executive vice president of Pauley Petroleum, will be president of the Fletcher refinery. James H. Lopman will continue as executive vice president at Carson. Alan L. Siegner, president of Newhall, will also

serve as executive vice president of Fletcher.

Pauley acquired the Fletcher refinery, which had been operating under Chapter 11 of the federal Bankruptcy Code, as part of a plan of reorganization approved by the Bankruptcy Court.

Texaco to Turn Over

Reorganization Data

WHITE PLAINS, N.Y. - Texaco Inc. says it will turn over information sought by several small shareholders who have objected to the company's bankruptcy reorganization plan.

The company's largest shareholder, financier Carl Icahn, also has objected to provisions of the plan that would release officers of Texaco, Getty Oil Co. and various Getty trusts from any liability in Texaco's acquisition of Getty Oil.

Phillips Debt Rating

Increased to BB+

NEW YORK - Standard & Poor's announced it raised Phillips Petroleum Co's senior debt rating to BB+ from BB-, subordinated to BB- from B- and preferred stock to BB+ from B.

Phillips, based in Bartlesville, Okla., has about $5.6 billion of debt outstanding.

The action reflects the financial resiliency Phillips has demonstrated by continuing to reduce debt in the face of adverse oil and natural gas markets, S&P said.