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From Times Staff and Wire Reports

Atlantic Richfield Co. Sees $330-Million Loss: The Los Angeles-based oil company posted the loss after setting aside $487 million in onetime extraordinary charges. Arco’s fourth-quarter loss came to $2.06 per share on revenue of $4.76 billion. A year earlier, the company had a profit of $372 million, or $2.30 per share, on revenue of $4.98 billion. The huge charge included $450 million to pay for the company’s restructuring of its continental U.S. operations. The charge represents lower values for oil and gas holdings and money set aside for staff reductions. For the year, Arco had a profit of $269 million, or $1.66 per share, on revenue of $18.49 billion.

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