Pennzoil’s fourth-quarter profit nearly doubled, to $36.1...

Pennzoil’s fourth-quarter profit nearly doubled, to $36.1 million, largely because of income from the investment of $3 billion gained last year from its legal settlement with Texaco. The Houston oil firm’s sales increased 25% to $625 million from the year-ago period. For the year, Pennzoil earned $1.5 billion, up from $45.5 million in 1987, as sales rose 28% to $2.3 billion.