"VAZELINA BILOPPHØGGERS" - should be a common print font, its from an album cover from 1986

Ideal-Antiqua  Suggested by akira1975 
Bordeaux  Suggested by Heron2001 

Perhaps?

Have a look at the bowls on the B, P, and R. The ones in Bordeaux look more rounded.
It’s definitely Ideal-Antiqua.

https://fontsinuse.com/typefaces/231497/ideal-antiqua
https://resolver.sub.uni-hamburg.de/kitodo/PPN1764068025

See p. 15 of this pdf:
http://www.klingspor-museum.de/KlingsporKuenstler/Schriftdesigner/Thiele/EThiele.pdf

Spot on, Akira. Great find!
Do you know of any digital versions of it?

Probably, there is no digital version of this typeface.

On dirait que la lettre g ne va pas avec le reste.