press release

Chevron Lifts Force Majeure

THIRD PARTY RELEASE

This is news concerning ChevronTexaco but issued by a ChevronTexaco subsidiary, Chevron Nigeria Ltd., and archived here for record purpose.

Lagos, July 31, 2002 -- Crude oil lifting activities at the NNPC/Chevron Escravos Terminal have resumed following the lifting of a Force Majeure declared 10 days ago as a result of a fire incident at the facility.

In a statement today announcing the lifing Jay Pryor, the company's chairman and managing director, said: "We sincerely thank our customers for their understanding and cooperation during the period that we suspended further exports from our terminal. Though the decision to declare a force majeure was a difficult one, it was the honest and ethical option open to us if we were to maintain our world class standard in safety, reliability and environmental stewardship."

Updated: July 2002