press release

Texaco Press Release - Texaco Inc. Senior Vice President C. Robert Black to Retire

FOR RELEASE: WEDNESDAY, MARCH 10, 1999.

WHITE PLAINS, N.Y., March 10 - C. Robert Black, Senior Vice President of Texaco Inc., will retire from the company, effective May 1, 1999, after 41 years of service, it was announced today by Texaco Inc. Chairman and Chief Executive Officer Peter I. Bijur.

Since January 1998, Black has been Senior Vice President in the office of the Chairman and has had responsibility for developing and managing the company's business and industry relationships on a worldwide basis. In addition, he has oversight of the company's Technology Division, along with the Corporate Reserves Audit Group and serves as Corporate Compliance Officer. Black also is a member of Texaco's Executive Council, which is charged with setting corporate strategy.

"Bob Black has managed some of Texaco's most strategic and successful assets, from the Middle East to Indonesia and Latin America," said Bijur. "Bob's accomplishments during his career have added measurably to our success and contributed significant value to the company. In the process, Bob Black has developed numerous valuable relationships across the globe and has won the respect and admiration of his peers throughout the industry. We will miss Bob's counsel and wisdom, and wish him well in his retirement."

Upon graduating from Texas Tech University in 1958 with a bachelor of science degree in petroleum engineering, Black joined Texaco in the Producing Department at Monument, N.M., as a field engineer. He served in petroleum engineering assignments in Midland, Texas, from 1960 until 1966, when he was named a district petroleum engineer in Wichita Falls, Texas. He subsequently was named senior petroleum engineer in Houston in 1967 and Assistant to the Division Gas Superintendent in New Orleans in 1968.

Black was appointed Assistant to the General Manager in charge of Supply and Distribution in New York in 1969, Coordinator - Crude Oil Division (International) in 1970, and Coordinator - Crude Oil in 1971. He was appointed Assistant to the Vice President of the Producing Department - Eastern Hemisphere in 1974, and Manager - Middle East Operations in the same department in 1976.

Black was named President and General Manager of Texaco Iran Ltd., located in London, in 1977, where he also served as General Manager in charge of oil trading activities. In 1980 he was appointed Vice President of Texaco Oil Trading Company, located in Harrison, N.Y., and in 1981 was named Vice President - Trading of Texaco Oil Trading and Supply Company, and President of Texaco International Trader Inc. when the two companies merged.

In 1983 Black was elected a Vice President of Texaco Inc. In that same year, he also was appointed Senior Vice President of Texaco Middle East/Far East, and in 1984 he was named President of the division, which had oversight of Texaco's producing interests in those areas. He was named President of Texaco Latin America/West Africa in 1987.

In 1992 Black was elected a Senior Vice President of Texaco Inc., relinquishing his assignment as head of Latin America/West Africa. In January 1997, Black assumed additional responsibilities as President of Texaco's Worldwide Exploration and Production unit, which includes Worldwide Exploration, International Producing and North American Producing.

During his career he served on the Boards of Directors of Caltex Petroleum Corporation, Arabian American Oil Company (ARAMCO), Amoseas Indonesia as well as numerous other Texaco subsidiaries. Currently, he serves as a Director of the American Petroleum Institute (API), the National Association of Manufacturers, and U.S. Saudi Arabian Business Council. Black is a member of several boards of trustees; the United States-Azerbaijan Chamber of Commerce (USACC), the University of Texas Engineering Advisory Council, and the Committee of Economic Development. He is a Governor for the Foreign Policy Association and a member of the Business Committee for the Metropolitan Museum of Art in New York City. He has served on numerous other community boards and is a long time member of the Society of Petroleum Engineers.

Updated: March 1999