VOL. XL

No. 04

27-January-1997

FSU

Chevron Sells 10% Of Tengizchevroil Holding To Lukoil

Chevron has agreed to sell 10% of its holding inTengizchevroil to Lukoil, a move that will give the Russian oil company a 5% stake in thejoint venture company established by Chevron and the state of Kazakstan in 1993. Uponcompletion of the agreement, equity ownership will be Chevron 45%; Kazakstan 25%, Mobil25%, and Lukoil 5%. Chevron had previously held 50% of Tengizchevroil, which was createdto develop...