Overview

This report covers 2005 data and activities. We also occasionally mention events that took place in early 2006 when they help provide a clearer picture of our performance. This report covers our owned or operated businesses and does not address the performance of our suppliers, contractors or partners unless otherwise noted. All financial information is reported in U.S. dollars. Our previous report was published in August 2005 and covered 2004 data and activities.

Information contained in this report has not been subject to external assurance, with the exception of data included in the company's consolidated financial statements and our 2002 and 2003 greenhouse gas emissions data.

We continue to be informed by reporting frameworks and guidelines that include the Global Reporting Initiative (GRI) and the Oil and Gas Industry Guidance on Voluntary Sustainability Reporting, published in 2005 by the International Petroleum Industry Environmental Conservation Association (IPIECA) and the American Petroleum Institute (API). We have included an index to help readers find information corresponding to the GRI and API/IPIECA indicators.

In August 2005, Chevron completed a major acquisition of the energy company Unocal Corporation. We have integrated Unocal data as of Aug. 1, 2005, wherever parallel information existed for both companies, following Chevron's practice for consolidated financial reporting. Where this was not possible, it is noted in the data charts.

Cautionary Statement Relevant to Forward-Looking Information

This Corporate Responsibility Report by Chevron Corporation contains forward-looking statements relating to the manner in which Chevron intends to conduct certain of our activities, based on management's current plans and expectations. These statements are not promises or guarantees of future conduct or policy and are subject to a variety of uncertainties and other factors, many of which are beyond our control.

Therefore, the actual conduct of our activities, including the development, implementation or continuation of any program, policy or initiative discussed or forecast in this report may differ materially in the future. The reader should not place any undue reliance upon such forward-looking statements, which speak only as of the date of this report. Chevron undertakes no obligation to publicly update any statements contained in this report.

Legal Notice

As used in this report, the term "Chevron" and such terms as "the company," "the corporation," "their," "our," "its," "we" and "us" may refer to one or more of Chevron's consolidated subsidiaries or affiliates or to all of them taken as a whole. All of these terms are used for convenience only and are not intended as a precise description of any of the separate entities, each of which manages its own affairs.