press release

Texaco Press Release - John E. Bethancourt Elected Vice President of Texaco Inc.


WHITE PLAINS, N.Y., April 26 - John E. Bethancourt has been elected Vice President of Texaco Inc., effective immediately, it was announced today by Texaco Chairman and Chief Executive Officer Peter I. Bijur. Bethancourt will continue to be responsible for Texaco's worldwide oil and gas production as President, Production Operations.

Commenting on the appointment, Bijur said, "Texaco's increasing investment in high impact upstream initiatives is a cornerstone of our growth strategy. John Bethancourt's proven ability to maximize value from our portfolio of producing assets will be key to that strategy as we continue to strengthen our position as a leader in the upstream sector."

Bethancourt, 48, joined Getty Oil Company as a field engineer in Kilgore, Texas, in 1974 after graduating from Texas A&M University with a bachelor of science degree in petroleum engineering. He subsequently held a series of engineering and management positions of increasing responsibility.

Bethancourt joined Texaco upon the company's acquisition of Getty Oil in 1984, and was appointed Area Manager - South Texas in Texaco U.S.A. Producing Operations. In 1989 he was appointed Assistant Division Manager for the Midland Producing Division in Midland, Texas.

He was named Assistant to the President and Chief Executive Officer of Texaco in 1991 and joined the company's Middle East/Far East Division in 1993 as Managing Director - Business Development. In 1996 he was appointed Vice President of International Business Development for Texaco International Marketing and Manufacturing. In November 1997 he was named Vice President - Upstream Corporate Development, and was appointed President, Production Operations in March 2000.

In his new role, Bethancourt will continue to be based at Texaco's Corporate Center in White Plains, N.Y.

Updated: April 2000