ENERGY

Unocal Acquires 5% Interest in Pacific Pipeline Systems Inc.: Los Angeles-based Unocal said it acquired a stake in the California-based public utility, which plans to build a $145-million oil pipeline in Southern California from Denver-based Anschutz Cos. Unocal will contribute a total of $27 million for engineering, permit and construction costs of the pipeline, which will daily carry 130,000 barrels of crude oil 130 miles, from the southern San Joaquin Valley to refineries in the Los Angeles Basin. In return, Unocal will receive a 10-cents-a-barrel price break on its first 20,000 barrels each day. Between reduced transportation costs and its 5% share of the revenue from users of the pipeline, the company expects pretax savings of $14.4 million a year, said Barry Lane, a spokesman for Unocal.