Tenneco Inc. profits jumped by 117% in...

Tenneco Inc. profits jumped by 117% in the first three months of 1988, boosted mainly by a one-time $25-million foreign tax credit, the Houston-based company announced. Tenneco’s energy businesses reported a 21% rise in operating income for the three months ended March 31. Despite lower domestic crude oil volumes and prices, and lower natural gas volumes, exploration and production operating results improved from the first quarter of 1987, the company said.