Exhibit 12.1

ChevronTexaco Corporation – Total Enterprise Basis

Computation of Ratio of Earnings to Fixed Charges

(Dollars in Millions)

	Year Ended December 31,
	2001			2000			1999			1998		1997
Net Income Before Extraordinary Item	$	3,931		$	7,727		$	3,247		$	1,917	$	5,920
Income Tax Expense		4,360			6,322			2,565			919		3,273
Distributions (Less Than) Greater Than Equity in Earnings of Affiliates		(489	)		(26	)		(288	)		49		(908	)
Minority Interest		121			111			71			62		82
Previously Capitalized Interest Charged to Earnings During Period		67			71			74			57		53
Interest and Debt Expense		833			1,110			1,132			1,057		870
Interest Portion of Rentals*		357			340			249			255		251
Earnings Before Provision for Taxes And Fixed Charges	$	9,180		$	15,655		$	7,050		$	4,316	$	9,541
Interest and Debt Expense	$	833		$	1,110		$	1,132		$	1,057	$	870
Interest Portion of Rentals*		357			340			249			255		251
Preferred Stock Dividends of Subsidiaries		48			50			55			33		33
Capitalized Interest		122			108			38			63		109
Total Fixed Charges	$	1,360		$	1,608		$	1,474		$	1,408	$	1,263
Ratio Of Earnings To Fixed Charges		6.75			9.74			4.78			3.07		7.55

*  Calculated as one-third of rentals. Considered a reasonable approximation of interest factor.

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