Proposed Chevron Tengiz venture stalls amid Soviet political squabble

Journal Article · Mon Aug 05 04:00:00 EDT 1991 · Oil and Gas Journal; (United States)

OSTI ID:5382553

This paper reports on the status of foreign investment in Soviet oil and gas joint ventures which has reached a critical juncture. Just as the U.S. is considering granting most favored nation trade status to the U.S.S.R., the joint venture petroleum deal seen as the litmus test for such deals-Chevron Corp.'s proposed addition of supergiant Tengiz oil field to its Caspian Sea joint venture-has stalled amid controversy. Unconfirmed reports from Soviet officials and other foreign joint venture participants in the U.S.S.R. have Chevron pulling out of the long negotiated, multibillion dollar project after the Soviets rejected the company's terms. Chevron, however, insists the project is still alive.

• OSTI ID: 5382553
• Journal Information: Oil and Gas Journal; (United States), Journal Name: Oil and Gas Journal; (United States) Vol. 89:31; ISSN OIGJA; ISSN 0030-1388
• Country of Publication: United States
• Language: English

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