press release

ChevronTexaco Announces New Global Gas Organization; Names John Gass as Vice President; Jim Blackwell becomes Managing Director of Southern Africa Business Unit

SAN RAMON, Calif., May 21, 2003 -- ChevronTexaco Corp. today announced the creation of ChevronTexaco Global Gas (CTGG). John D. Gass, 51, has been named to lead CTGG effective June 1, and will serve as a corporate vice president. Gass currently serves as managing director of ChevronTexaco's Southern Africa business unit located in Luanda, Angola.

James R. Blackwell, 44, currently president of ChevronTexaco Pipeline Co., a wholly owned subsidiary of ChevronTexaco Corp., responsible for the transportation of the company's petroleum, natural gas and chemical products in the United States, will replace Gass as managing director in Luanda.

In his new position, Gass will be responsible for building the company's global natural gas business. The newly created organization will play a key role in ChevronTexaco's strategic plans to commercialize its existing natural gas resource base and enable the creation and development of new natural gas growth opportunities worldwide.

Gass also will oversee ChevronTexaco's shipping company and pipeline operations. Over time, it is expected that natural gas will become a larger part of their businesses. CTGG will also have oversight of ChevronTexaco's participation in the Sasol Chevron gas-to-liquids joint venture, and Gass will serve as a director on the board of the joint venture.

"John's selection as vice president of this new organization is a direct result of his background in and deep understanding of the natural gas business and his extensive commercial and operational experience," said Dave O'Reilly, ChevronTexaco chairman and chief executive officer. "It is appropriate that someone of John's stature be the first to lead our newly formed worldwide natural gas business."

Gass will report to Peter Robertson, ChevronTexaco vice chairman, who is also responsible for the company's worldwide exploration and production activities.

The new company will consist of existing gas-focused organizations including ChevronTexaco Natural Gas (current marketer of North American gas), the International Gas Group and Worldwide Power and Gasification.

Gass, a native of Key Biscayne, Fla., joined Chevron U.S.A. in 1974 as a design engineer, working primarily in the company's offshore Louisiana operations. After serving in various engineering, drilling and staff positions of increasing responsibility, he was appointed operations manager - Amoseas Indonesia Inc. in Jakarta, Indonesia in 1988; project manager, Alba Field Development Project - Chevron U.K. Ltd. in 1991, and profit center manager, Bay Marchand - Chevron U.S.A. Production Company in 1994.

Gass assumed the position of managing director, Chevron Australia Pty. Ltd., in April 1996. He was responsible for managing the company's interest in the expansion of the North West Shelf liquefied natural gas (LNG) facility. He served as general manager, operations in Angola beginning in January 2001 and assumed his current position in 2002. In Angola, Gass has been responsible for development of the Angola LNG project with our partner Sonangol.

Gass graduated from Vanderbilt University in 1974 with a bachelor's degree in civil engineering and earned a master's of civil engineering from Tulane University in 1980.

He serves on a variety of industry and civic organizations, including the American Society of Civil Engineers and the Society of Petroleum Engineers.

Blackwell began his career with Gulf Oil in 1980 as a roustabout based in Venice, La., and worked his way through a wide range of assignments of increasing responsibilities, both technical and supervisory, in the Gulf of Mexico. After the Gulf/Chevron merger in 1985, he became an engineer for the company's Health, Safety and Environment (HSE) department.

In 1988, he was named HSE manager for Chevron Nigeria Ltd., based in Lagos, Nigeria, and went on to be named manager, operations, for the company's exploration and production activities in Nigeria.

In 1992, Blackwell was named HSE manager for Tengizchevroil (TCO), based in Kazakhstan. After a brief assignment in the United States in 1996, he was named general manager of TCO operations.

In 2000, he returned to the United States and was selected as general manger, ChevronTexaco Overseas Petroleum Inc., headquartered in the San Ramon, Calif. He was named vice president for Chevron Overseas Petroleum Inc., upon the formation of ChevronTexaco Corp., on Oct. 9, 2001. He assumed his present position in May 2002.

Blackwell, a native of Mississippi, received bachelor of science degrees in biology and environmental engineering in 1980 from the University of Southern Mississippi. In 1984, he earned a master's degree in petroleum engineering from Tulane University in Louisiana.

Cautionary Statement Relevant to Forward-Looking Information for the Purpose of "Safe Harbor" Provisions of the Private Securities Litigation Reform Act of 1995.

This news release contains forward-looking statements about ChevronTexaco's strategic plans for a global natural gas business and its effect on the company's pipeline business. The statements are based on management's current expectations, estimates and projections; are not guarantees of future performance; and are subject to certain risks, uncertainties and other factors, some of which are beyond the company's control and are difficult to predict. You should not place undue reliance on these forward-looking statements, which speak only as of the date of this press release. Unless legally required, ChevronTexaco undertakes no obligation to update publicly any forward-looking statements, whether as a result of new information, future events or otherwise.

Updated: May 2003