TOTAL STILL EXPECTS 1.5 BILLION FRANC 1986 LOSS French oil group Total Cie Francaise des Petroles <TPN.PA> is still expecting a 1.5 billion franc consolidated net loss, including minority interests, for 1986, after taking account of stock losses of 7.5 billion francs, the company said in a communique after a board meeting here. In late January group president Francois-Xavier Ortoli told journalists that the slump in oil prices and the weak dollar had caused the stock depreciation, turning a consolidated net profit, before losses on stocks, of six billion francs into a consolidated net loss of 1.5 billion francs. Earlier today Armand Guilbaud, president of Total's refining and distribution subsidiary Cie de Raffinage-Distribution (CRD) Total France <RAFF.PA>, told journalists that 1986 had marked a return to profit for the subsidiary before stock depreciation. CRD made a net profit before stock depreciation and currency factors of 1.95 billion francs last year after a 1.16 billion loss in 1985. But its net loss last year, taking account of that depreciation as well as currency fluctuations, was 1.16 billion francs after a 1.05 billion loss in 1985. In 1986 CRD's sales fell 5.7 pct to 19.7 mln tonnes from 20.9 mln "due to the growth in imports by independent distributors following a relaxation of regulations," Guilbaud said. The subsidiary is expecting to cut its workforce to 6,000 this year and 5,000 in 1988 from 6,800 last year, under a job reduction scheme which will eventually save the group 600 mln francs, he said. Concerning business in 1987, he said that "January was a good month, but the situation deteriorated in February."