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SECURITIES AND EXCHANGE COMMISSION
FORM 13F-E
Report for the Calendar Year or Quarter Ended: 06/30/98
Institutional Investment Manager:
PENNZOIL COMPANY
PENNZOIL PLACE
P.O. BOX 2967
HOUSTON TX 77252-2967
I represent that I am authorized to submit this form and that all
information in this form and the attachments to it is true, correct, and
complete and I understand that all required items, statements, and
schedules are integral parts of this form and that the submission of any
amendment represents that all unamended items, statements, and
schedules remain true, correct and complete as previously submitted.
I am signing this report as required by the Securities Exchange Act of 1934.
Name, Title and Telephone Number of Person Submitting Report:
DAVID P. ALDERSON, II GROUP VP-FINANCE & ACCOUNTIN (713) 546-4521
Signature, Place and Date of Signing:
/s/ DAVID P. ALDERSON, II HOUSTON TX 07/07/98
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VALUE SHARES/ SH/ PUT/ INVSTMT -----VOTING AUTHORITY-----
NAME OF ISSUER -TITLE OF CLASS- --CUSIP-- (x$1000) PRN AMT PRN CALL DSCRETN -MANAGERS- SOLE SHARED NONE
Chevron Corporation Common Stock 166751107 1490630 17798568 SH Sole
REPORT SUMMARY 1 DATA RECORDS 1490630 0 OTHER MANAGERS ON WHOSE BEHALF REPORT IS FILED
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