TEXACO <TX> NO COMMENT ON SETTLEMENT STATEMENT
Texaco Inc said that it had no comment
in response to a statement by Pennzoil Co <PZL> chairman J.
Hugh Liedtke that any settlement with Texaco must be above the
two billion dlrs range.
    "We have no commment at this time. We have said in the past
that we were willing to discuss a reasonable and economic
settlement but have no comment now," a Texaco spokeswoman said
in response to a Reuter inquiry.
    Liedtke told a group of security analysts in New york, "if
anyone thinks this (litigation) could be setled in the two
billion dlrs range, they're not being realistic."
    Liedtke also told analysts Pennzoil would consider any
reasonable settlement in its ongoing 11.0-billion-dlr suit with
Texaco.
    Neither Pennzoil nor Texaco has said that any talks were
presently underway to resolve the dispute that arose when
Pennzoil charged Texaco had improperly wrested control of Getty
Corp from Pennzoil.
 Reuter
