QUAKER STATE <KSF> ARRANGES 100 MLN DLR CREDIT
  Quaker State Oil Refining Corp
  said it signed a 100 mln dlr revolving credit and term loan
  agreement with a group of six banks, for which Mellon Bank N.A.
  is agent.
      The four-year arrangement has an additional four-year term
  loan amortization agreement, Quaker said.
      Quaker said the credit line will be used to finance
  expansion plans. Quaker's total capital spending program for
  1987 is expected to exceed 125 mln dlrs, it said. In 1986, the
  company's capital spending totaled 71.0 mln dlrs.
      Quaker also said costs of new store openings and new
  product introductions will depress earnings in the first half.
  For the first half of 1986, Quaker reported net income of 26.0
  mln dlrs on sales of 473.5 mln dlrs.
      In the first two months, Quaker opened about 25 new stores.
  It said it expects to add 150 Minit-Lube fast lubrication
  service centers in 1987 at a cost of 75 mln dlrs.
      The company said it is optimistic it will recover in the
  second half and report higher earnings for full year fiscal
  1987. The company reported net income of 50.3 mln dlrs on sales
  of 899.1 mln dlrs for 1986.