Arco International Oil Gas Co

Arco Will Invest $1 Billion in Algerian Oil Field: Arco International Oil & Gas Co., a subsidiary of Los Angeles-based Atlantic Richfield Co., said it has agreed with Sonatrach, the Algerian state oil company, to enhance oil recovery at the Rhourde El Baguel oil field, the second-largest field in the country. Arco expects to invest the $1 billion over the 25-year life of the project.

Arco Will Invest $1 Billion in Algerian Oil Field: Arco International Oil & Gas Co., a subsidiary of Los Angeles-based Atlantic Richfield Co., said it has agreed with Sonatrach, the Algerian state oil company, to enhance oil recovery at the Rhourde El Baguel oil field, the second-largest field in the country. Arco expects to invest the $1 billion over the 25-year life of the project.

Up to 280 employees of Atlantic Richfield's international unit will be transferred from Los Angeles to the Dallas area by early next year, Arco said Friday. The move is part of the relocation of the headquarters of Arco International Oil & Gas Co. to Plano, a Dallas suburb. The company said all 280 headquarters employees, who work in leased space at the Wells Fargo building downtown, will be offered jobs at the new site.

Up to 280 employees of Atlantic Richfield's international unit will be transferred from Los Angeles to the Dallas area by early next year, Arco said Friday. The move is part of the relocation of the headquarters of Arco International Oil & Gas Co. to Plano, a Dallas suburb. The company said all 280 headquarters employees, who work in leased space at the Wells Fargo building downtown, will be offered jobs at the new site.

Arco has announced the election of two executive vice presidents and a senior vice president and a realignment of reporting relationships of certain operating companies. Ronald J. Arnault, currently senior vice president, will become executive vice president. Arnault will remain chief financial officer. James A. Middleton, currently senior vice president, will become executive vice president. Middleton will remain president of Arco Oil and Gas Co., with headquarters in Dallas.

Atlantic Richfield Co. on Monday announced the promotion of Mike R. Bowlin to executive vice president and member of the board of directors as part of a continuing reshuffling of senior management. The announcement may suggest a change in the ranks of possible successors for the job of Chairman Lodwrick M. Cook, 64, who is to retire in 1995. Bowlin, 49, had been president of Arco International Oil & Gas Co. and senior vice president of Atlantic Richfield Co.

Prices of key raw materials jumped Monday, boosting a closely watched commodity index to a five-year high and reigniting worries about inflation. Surging prices of oil, cotton, silver and some grains drove the Knight-Ridder Commodity Research Bureau index of 21 commodities up 2.59 points to 239.92, the highest closing price since October, 1990, when the approaching Gulf War sent oil prices above $40 a barrel.