SQL 7.0 logging (SQL.log) – how to disab

SQL 7.0 server seems to maintain a text logfile called SQL.log which records
details of T-SQL statements. Is it possible to enable/disable
recording to this logfile, and the degree of detail of recorded info.?

Also, is the logfile location configurable? If so, how?

We have a runaway SQL.log file growing in size, and cannot see
how to control growth, other than stopping the SQLServerAgent service.