Texaco Inc: The nation’s third-largest oil company,...

Texaco Inc: The nation’s third-largest oil company, based in White Plains, N.Y., said third-quarter net profit rose 11% to $305 million from 1988’s third quarter. Revenue edged up 3% to $8.4 billion. The company said ongoing operations improved as earnings related to finding and producing petroleum benefited from increased crude oil prices. Strong demand contributed to record petrochemical earnings in 1989. The results exclude Texaco Canada, Deutsche Texaco and 50% of the Star Enterprise joint venture, which were sold as part of a restructuring.