press release

Texaco Press Release - Robert C. Oelkers Named President of Texaco International Trader Inc.

FOR IMMEDIATE RELEASE: MARCH 9, 1999.

WHITE PLAINS, N.Y., March 9 - Robert C. Oelkers, currently Vice President and Comptroller of Texaco Inc., has been named President of Texaco International Trader Inc., effective April 1, it was announced today by Texaco Chairman and Chief Executive Officer Peter I. Bijur. Oelkers remains a Vice President of Texaco Inc.

Commenting on the appointment, Bijur said, "Bob Oelkers has done an outstanding job as Comptroller and brings to his new assignment over 32 years of fiscal and operational management experience. Bob's demonstrated leadership capabilities and his track record of success will be invaluable in the management of our worldwide supply and trading operations." Oelkers succeeds John W. McHale, who will report to Oelkers with responsibility for marine operations and commercialization of new crude oil streams.

Oelkers was graduated from Pace University in 1966 with a bachelor of business administration degree. He joined Texaco in New York that year as an auditor in the Comptroller's Department.

From 1966 to 1971 he held auditing positions with increasing responsibility in New York and then in Houston. Subsequently, he filled roles of increasing importance in both international and domestic fiscal areas.

In 1977 he was named Manager - Internal Auditing, and in 1979 he was appointed Director of Internal Auditing. He was appointed Assistant Comptroller in Houston in 1980, with responsibilities for U.S. reporting and operational data and played a key role in developing the programs to restructure Texaco's downstream activities.

Prior to his appointment in 1993 as Senior Vice President of Texaco Refining and Marketing Inc. (TRMI) in Los Angeles, Oelkers served as Vice President of TRMI's Western Region between 1990 and 1993 and Vice President of the Tulsa-based Central Region of TRMI between 1988 and 1990. He was named to his present position as Comptroller of Texaco Inc. in March 1994, and was elected a company Vice President in December 1996.

Oelkers is a member of Financial Accounting Standards Advisory Committee.

Oelkers will continue to be located at Texaco's offices in White Plains, N.Y.

Updated: March 1999