ENERGY BRIEFS

ENERGY BRIEFS

RUSSIAN ENERGY SLUMP

WORSENS, REPORT SAYSOil production in Russia has dropped by 13 percent, or 36.5 million barrels in March compared to last year, according to a report issued by the Russian State Committee for Statistics Monday.

The report also said that refining activities had dropped 8 percent and electric power output fell 2.5 percent for the first two weeks of March compared with the same period last year.

In addition, coal production has dropped 15 percent, or 4.7 million tons for the first quarter of 1992.

Forecasts of natural gas production for the first quarter, however, were basically unchanged.

MCDERMOTT TO BEGIN

AZERI OIL FIELD STUDY

NEW ORLEANS - Robert Howson, McDermott International Inc. chairman, said Tuesday the company has been given the go-ahead by Amoco Corp. to begin a feasibility study that could lead to the development of the giant Azeri oil field in the Caspian Sea off Azerbaijan.

Amoco has estimated that the field contains reserves of more than 1.5 billion barrels of crude.

Amoco had won the right last June to negotiate an agreement to conduct the feasibility study. An Amoco spokeswoman said officials from Azerbaijan are in Houston this week for talks with Amoco toward finalizing that agreement.