Petrolane Gas Service Limited Partnership: The big...
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Petrolane Gas Service Limited Partnership: The big New York-based propane distributor reported a second-quarter net loss of $33.5 million, more than the $4.9-million loss in the year-ago quarter. The partnership said results suffered from lower retail deliveries, reduced wholesale business, higher unit costs for propane and higher interest expenses because of debt used to finance the acquisition of Petrolane by QFB Partners Aug. 1. Second-quarter revenue of $129 million was down 4% from 1989.
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