1、Up to the Challenge2002 Annual Report Up to the Challenge2002 Annual Report ChevronTexaco Corporation is one of the worlds largest integrated energy companies.We are active in more than180 countries,and our operations span the spectrum of energy activities,including oil and natural gas explorationan
2、d production,and refining,marketing and transportation of petroleum products.We also have significant positionsin the petrochemicals and power generation industries and are working to develop and commercialize the nextgeneration of promising energy technologies.TABLE OF CONTENTSUp to the Challenge 1
3、Chairmans Letter 8Upstream 16Downstream 20Technology 23Chemicals 24Power and Gasification 25Corporate Social Responsibility 25Health,Environment and Safety 26Glossary of Energy and Financial Terms 28Financial Review 29Five-Year Financial Summary 76Five-Year Operating Summary 84Board of Directors 85C
4、orporate Officers 86Cover photo:Genesis,the first platform of its kind,floats in more than 2,600 feet(792 meters)of water in the U.S.Gulf of Mexico.Commissionedin 1999,the platform has a cylinder-shaped hull,called a spar,and is designed for 24-hour simultaneous drilling and high-volume production.T
5、his annual report contains forward-looking statements identified by words like“expects,”“intends,”“projects,”etc.that reflect managementscurrent estimates and beliefs,but are not guarantees of future results.Please see“Forward-Looking Statements”on Page 47 for a discussion of someof the factors that
6、 could cause actual results to differ materially.Up to the ChallengeProfitably producing the energy that helpspower todays world is a tremendous under-taking,and ChevronTexaco is up to thechallenge.Determined to improve financialperformance in the near term and continueto grow over the longer term,w