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2002 ChevronTexaco Corporate Responsibility ReportOverview & StrategyOur Values & VisionCompany DescriptionAt ChevronTexaco, we define corporate responsibility as applying ourcore values consistently and balancing the needs of our key stakeholders.It means integrating social and environmental considerations into ourcore business practices and decision-making to maximize the positiveimpact of our operations on current and future generations. We aim tobe admired not only for the goals we achieve but how we achieve them.The ChevronTexaco Way defines our vision and values. It describes ourcommitment to respect the law, conduct our business in a sociallyresponsible and ethical manner, support universal human rights, protectpeople and the environment, and benefit the communities where wework. These values shape our culture and guide our decisions and actions.They are the starting points for the development of a more integratedcorporate responsibility strategy that builds on our on-the-ground experiencein areas ranging from environmental conservation to communitydevelopment. Our goal is to create value for our stakeholders by operatingwith integrity, effectively responding to society’s expectations and continuallyimproving our social, economic and environmental performance.From The ChevronTexaco Way:Our company’s foundation is built on our Values, which distinguishus and guide our actions. We conduct our business in a sociallyresponsible and ethical manner. We respect the law, supportuniversal human rights, protect the environment, and benefitcommunities where we work. Our Values include:> Integrity> Trust> Diversity> Partnership> High Performance> Responsibility> Growth> Protecting People and the EnvironmentChevronTexaco Corp. is a global energy company engaged in all aspectsof the oil and gas industry, including exploration and production; refining,marketing and transportation; chemicals manufacturing and sales;and power generation. We are also working to develop and commercializethe next generation of promising energy technologies. Our companyis headquartered in San Ramon, California and, at the end of 2002,employed approximately 53,000 people. Active in more than 180 countries,the company’s Caltex-, Texaco-, and Chevron-branded productshold top-tier rankings worldwide. ChevronTexaco was formed in 2001by the merger of Chevron Corporation and Texaco Inc.As of December 31, 2002, ChevronTexaco’s worldwide operations include:Exploration and Production (Upstream):> ChevronTexaco has net proven reserves of about 12 billion barrels ofoil and gas equivalent. It produces about 2.6 million barrels equivalentper day of crude oil and natural gas.> Outside North America, ChevronTexaco has major oil and gas productionoperations in Angola, Argentina, Australia, China, Indonesia,Kazakhstan, Nigeria, Philippines, Republic of Congo, Thailand,Venezuela, the North Sea and the Middle East.> Major oil and gas producing areas in North America includeCalifornia, Gulf of Mexico, Texas and Canada.Refining, Marketing and Transportation (Downstream):> ChevronTexaco’s worldwide network of 23 wholly owned and jointventure refineries have total refining capacity of more than 2.3 millionbarrels of crude oil a day.> The company operates more than 24,000 retail outlets (includingaffiliates) and markets under the Chevron, Texaco and Caltex brands.> Downstream global businesses include lubricants and aviation fuelsmarketing, fuels trading and shipping.> ChevronTexaco’s pipeline business transports crude oil and otherpetroleum products throughout the United States. The company alsoholds a 15 percent interest in the 935-mile crude oil export pipelinebetween the Tengiz oil field in Kazakhstan and the Black Sea portof Novorossiysk.© 2003 ChevronTexaco Corporation. All Rights Reserved.3