Exhibit 12.1

ChevronTexaco Corporation – Total Enterprise Basis

Computation of Ratio of Earnings to Fixed Charges

(Dollars in Millions)

		Three Months
		Ended			Year Ended December 31,
		March 31,
		2002			2001			2000			1999			1998		1997
Net Income Before Extraordinary Item		$	725		$	3,931		$	7,727		$	3,247		$	1,917	$	5,920
Income Tax Expense			590			4,360			6,322			2,565			919		3,273
Distributions (Less Than) Greater Than Equity in Earnings of Affiliates			(51	)		(489	)		(26	)		(288	)		49		(908	)
Minority Interest			12			121			111			71			62		82
Previously Capitalized Interest Charged to Earnings During Period			18			67			71			74			57		53
Interest and Debt Expense			147			833			1,110			1,132			1,057		870
Interest Portion of Rentals*			99			357			340			249			255		251
Earnings Before Provision for
	Taxes And Fixed Charges	$	1,540		$	9,180		$	15,655		$	7,050		$	4,316	$	9,541
Interest and Debt Expense		$	147		$	833		$	1,110		$	1,132		$	1,057	$	870
Interest Portion of Rentals*			99			357			340			249			255		251
Preferred Stock Dividends of Subsidiaries			2			48			50			55			33		33
Capitalized Interest			16			122			108			38			63		109
Total Fixed Charges		$	264		$	1,360		$	1,608		$	1,474		$	1,408	$	1,263
Ratio Of Earnings To Fixed Charges			5.83			6.75			9.74			4.78			3.07		7.55

*  Calculated as one-third of rentals.

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