No. 21



Chevron Raises Tengiz Stake

Chevron Corp of the US announced on 17 May that it had increased its stake in TengizChevroil (TCO) to 50% with the purchase of an additional 5% of the consortiums shares from the Government of Kazakstan, which now holds a 20% interest through the state-owned oil company Kazakoil. Chevron is the main shareholder in TCO and is also operator of the giant Tengiz field in western Kazakstan. TCO, whose partners include Chevron (50%),...