ENERGY & ENVIRONMENT
From Times Staff and Wire Reports
Pennzoil Sells Chevron Shares: Houston-based Pennzoil collected $721 million from the block sale of nearly 8.2 million shares of Chevron Corp. common stock on the New York Stock Exchange. At a price of about $89 a share, the sale brought Pennzoil $171 million more than it paid for the stock, the company said. Pennzoil had owned about 9% of Chevron and still owns about 2.8%.
