Texaco Inc.’s earnings fell 27% on lower...

Texaco Inc.’s earnings fell 27% on lower crude oil prices.

Texaco earned $202 million, or 69 cents per share, on revenue of $7.43 billion in the first three months of the year. A year ago, the company earned $278 million, or 97 cents per share, on revenue of $8.23 billion.

The White Plains, N.Y.-based firm’s exploration and production earnings fell 43% to $120 million. The refining and marketing profit rose 18.7% to $203 million.