OGJ GROUP SHOWS SHARP REBOUND IN EARNINGS

Robert J. Beck Economics Editor Valerie Sanders Statistics Editor First quarter 1993 profits for Oil & Gas Journal's group of 22 large U.S. oil companies totaled $4.136 billion, a big turnaround from a loss of $956 million in the same period of 1992. The pronounced improvement flowed mainly from one time charges that depressed earnings last year. Last year the adoption of new accounting rules associated with future postretirement costs led to significant one time charges. Sixteen of the

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