1
 
                                                                    EXHIBIT 99.3
 
                        CONSENT OF CHASE SECURITIES INC.
 
     Chase Securities Inc. hereby consents to the use of our name and to the
description of our opinion letter, dated as of April 14, 1998 in, and to the
inclusion of such opinion letter as Annex C to, the Proxy Statement/Prospectus
of Quaker State Corporation and Pennzoil Products Company, which Proxy
Statement/Prospectus is part of the Registration Statement on Form S-4 of
Pennzoil Products Company. By giving such consent, we do not hereby admit that
we are experts with respect to any part of such Registration Statement within
the meaning of the term "expert" as used in, or that we come within the category
of persons whose consent is required under, the Securities Act of 1933, as
amended, or the rules and regulations of the Securities and Exchange Commission
promulgated thereunder.
 
                                          CHASE SECURITIES INC.
 
New York, New York
August 12, 1998