press release

Texaco Press Release - Arthur A. Nicoletti Named Vice President, Texaco International Trader Inc.

FOR RELEASE: THURSDAY, JULY 6, 2000

WHITE PLAINS, N.Y., July 6 - Arthur A. Nicoletti has been named Vice President, Texaco International Trader Inc., effective July 1, it was announced today by Robert C. Oelkers, Texaco Inc. Vice President and President of Texaco International Trader Inc. Nicoletti recently served as President of Equiva Trading Company, which is the trading unit for Equilon Enterprises LLC and Motiva Enterprises LLC.

In his new position, Nicoletti will direct several key projects designed to broaden Texaco's growth in energy commodity trading and risk management services.

In making the announcement, Oelkers said, "Art's trading and management experience will be of significant benefit to us as we strive to achieve our strategic business objectives."

Prior to joining Equiva Trading Company, Nicoletti was President of Texaco Trading and Transportation Inc. with responsibilities in the area of crude oil gathering, purchasing, trading activities, and pipeline transportation of both crude and petroleum products for U.S. operations.

Nicoletti graduated from Pace University in Pleasantville, N.Y., with a bachelor of business administration degree in 1969, and earned a master of business administration degree from the University in 1974.

He joined Texaco in 1970 as a financial analyst in the Comptroller's Department in New York, and was named Senior Financial Analyst in 1972. Nicoletti was appointed Senior Research Analyst in the Marine Department in 1974, Coordinator-Financial Analysis in 1977, and Manager-Traffic in 1978. That same year, he was named Manager-Logistics for the company's Supply and Distribution Department.

In January 1981, Nicoletti was named Assistant to Management, assigned to the Office of the Chairman. He was appointed Assistant General Trading Manager in Texaco Oil Trading and Supply Company in August 1981. Nicoletti was appointed Assistant General Manager for the International Marine Sales Department in 1987, and named Deputy General Manager, Texaco Fuel and Marine Marketing Department in 1990.

In July 1994, Nicoletti was named President of Texaco Trading and Transportation Inc. and was named to his current position in 1998.

Updated: July 2000