Amoco Profit Declines on Low Oil Prices

Amoco Corp. said its fourth-quarter earnings fell 63%, mostly because oil prices were about $10 a barrel cheaper than they had been a year earlier.

Amoco said earnings for the fourth quarter of 1991 were $200 million, or 40 cents per share, on revenue of $7.2 billion. That compared to earnings of $538 million, or $1.07 a share, on revenue of $9.2 billion in the same period in 1990.

The Chicago-based oil giant also reported that earnings for all of 1991 were $1.22 billion, or $2.45 a share, excluding a $311-million benefit from a change in accounting practices, compared to $1.91 billion, or $3.77 a share, in 1990.

Revenue for 1991 was $28.3 billion, down from $31.6 billion in 1990.

Earnings, D14