TEXACO NETHERLANDS UNAFFECTED BY CHAPTER 11 FILING
Texaco Petroleum Maatschaapij
(Netherlands) BV said its operations were unaffected by
yesterday's move by Texaco Inc <TX.N> to file for protection
under Chapter 11 of the U.S. Bankruptcy code.
    A Texaco spokesman said the Dutch unit, wholly owned by
Texaco Inc through holding companies, had its own financial
relationship with banks, its own distribution facilities and
refinery, and bought its own crude oil and products.
    There had been no negative reaction from trading partners
to the U.S. Move, although there was some negative influence on
publicity, he said.
    "The Dutch operations are not dependent on the U.S. For
money or products. We are informing our customers that our
business is not affected in any way," the spokesman said.
    He said trading partners had not made demands for stricter
credit terms than was normal in the international oil markets.
    Spot market traders at Dutch arms of other major companies
said they were acting as usual towards Texaco so far, but some
were maintaining contact with their headquarters' credit
control offices. One trader said his company hoped to meet
representatives of Texaco personally to clarify the position.
 Reuter
