May 22, 1997

Unocal Corp, more than any other big American oil company, has staked its future on investments abroad, mainly in Asia, even as it disposes of its American refineries and gas stations; many oil companies, including Unocal, are finding that politics back home is new focus of risk; threat of unilateral economic sanctions, typically directed by US Government at governments accused of human rights violations, has become big enough to cast shadow over investment decisions; Unocal has placed its biggest bet so far in Myanmar, where it is part of international consortium that is investing $1.2 billion to develop Yadana natural gas field; and while field will not start operating until next year, Unocal's presence in Myanmar has already become case study in politics and pressures that are increasingly affecting energy industry; last month, Clinton Administration approved use of sanctions against Myanmar under legislation that Clinton signed last fall; tables; graphs; photos (L)

Elizabeth Kolbert, in Metro Matters column, contends that Gov George E Pataki replaced Senate majority leader Joseph L Bruno as chief target of tenants' ire after he introduced his proposal supporting vacancy decontrol and mandatory deposit of rent during disputes (M)

Private product liability lawyers representing states claiming billions of dollars in reimbursements from tobacco industry for Medicaid spending on smoking-related illnesses have assumed extraordinary role in settlement talks with tobacco industry; take much of credit for forcing industry to bargain, stand backed by many states; legal experts, public health advocates and other critics cite potential conflicts of interest (M)

Sarah Brady, whose husband was wounded during assassination attempt on Pres Reagan, comes to State House to promote bill that would require handguns sold in New Jersey to be personalized so that only their owners can use them (New Jersey Daily Briefing) (S)

New Plan to Revamp Finance In outlining a long-awaited plan to revamp the nation's financial services industry, the Clinton Administration has retreated from its proposal to allow banks to own nonfinancial companies. Page D1. Fees for Inmate Health Care The Giuliani administration wants to charge inmates a fee for medical care in city jails, arguing it would deter inmates who are not sick from going to clinics as a pretext for leaving detention areas. Page B1.