First Olsen Tankers

To Acquire Four ShipsA new company sponsored by Citicorp and Fred Olsen & Co. of

Oslo, Norway approved the acquisition of four standard crude oil tankers.

First Olsen Tankers Ltd. was formed to invest primarily in medium-sized to large crude oil tankers. Citicorp said it raised $47 million from a group of international investors.

Citicorp and First Olsen Tankers said they expect the tanker market will be strong over the next few years.

White House to Comply

With Congress' Wishes

The Reagan administration will not send to Congress implementing legislation for the U.S.-Canada trade agreement until after June 1.

In a letter to congressional leaders, Treasury Secretary James A. Baker III and U.S. Trade Representative Clayton Yeutter said they would comply with the wishes of Congress and give lawmakers a chance to consider the agreement in detail.

The two senators, Robert Byrd, D-W.Va., Lloyd Bentsen, D-Texas, and the two representatives, Jim Wright, D-Texas and Dan Rostenkowski, D-Ill., responded by promising in a letter to vote on the Canada-U.S. trade liberalization accord in 1988. See related story, elsewhere on this page.

President Nominates

Highway Administrator

WASHINGTON - President Reagan nominated Robert E. Farris to be the new administrator of the Federal Highway Administration, an arm of the Department of Transportation, the White House announced.

Mr. Farris, the agency's deputy administrator since he joined the department in August 1986, has been serving as acting administrator for the last six weeks. He succeeds Ray A. Barnhart, who resigned Dec. 31, 1986.

The Federal Highway Administration supervises the construction and maintenance of the nation's interstate and primary road systems and coordinates and enforces truck safety programs.

EC Forces Change

In NutraSweet Contracts

BRUSSELS, Belgium - Coca-Cola Co. and PepsiCo Inc. have been forced to change their contracts with NutraSweet Co. as exclusive European suppliers of aspartame because they restricted competition, the European Community's

Commission said Thursday.

NutraSweet, a U.S. company, is the world's largest producer of aspartame, a low-calorie, artificial sweetener used in soft drinks.

The commission said it acted after receiving complaints in 1986 from two NutraSweet competitors - Angus Fine Chemicals Ltd. of Ireland and Holland Sweetener Co. At the time of their complaints, Angus and Holland Sweetener were building new plants in Ireland and Holland to compete with NutraSweet.

Coca-Cola is the largest purchaser of aspartame in the EC; PepsiCo the second largest.

Under terms of the agreement, in effect until 1990, NutraSweet retains the right to supply Coca-Cola and PepsiCo with a fixed quantity of aspartame but made room for its competitors, the Commission said. No quantities were given.