Chevron 2003 Annual Report Download - page 87

Download and view the complete annual report

Please find page 87 of the 2003 Chevron annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.

Page out of 90

  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
  • 8
  • 9
  • 10
  • 11
  • 12
  • 13
  • 14
  • 15
  • 16
  • 17
  • 18
  • 19
  • 20
  • 21
  • 22
  • 23
  • 24
  • 25
  • 26
  • 27
  • 28
  • 29
  • 30
  • 31
  • 32
  • 33
  • 34
  • 35
  • 36
  • 37
  • 38
  • 39
  • 40
  • 41
  • 42
  • 43
  • 44
  • 45
  • 46
  • 47
  • 48
  • 49
  • 50
  • 51
  • 52
  • 53
  • 54
  • 55
  • 56
  • 57
  • 58
  • 59
  • 60
  • 61
  • 62
  • 63
  • 64
  • 65
  • 66
  • 67
  • 68
  • 69
  • 70
  • 71
  • 72
  • 73
  • 74
  • 75
  • 76
  • 77
  • 78
  • 79
  • 80
  • 81
  • 82
  • 83
  • 84
  • 85
  • 86
  • 87
  • 88
  • 89
  • 90

6;8IEBAG8K46B6BECBE4G<BA%##&4AAH4?E8CBEG+(
7Ti\W=!BºEX\__l(*
6[T\e`TabYg[X5bTeWTaW6[\XY8kXVhg\iX
BYÂVXef\aVX%##$!;XjTfX_XVgXW6[T\e`Ta
TaW6[\XY8kXVhg\iXBVXebY6[Xieba6becbeT
g\ba\a%###!CeXi\bhf_l[XjTfX_XVgXWT
7\eXVgbeTaWI\VX6[T\e`TaeXfcbaf\U_XYbe
jbe_Wj\WXXkc_beTg\baTaWcebWhVg\baTaW
VbecbeTgX[h`TaeXfbheVXf\a$,,+.CeXf\WXag
bY6[XiebaCebWhVgf6b`cTal\a$,,'.TaWT
I\VXCeXf\WXag\a$,,$!;X]b\aXW6[Xieba
GXkTVb\a$,)+!;X\f6[T\e`TabYg[X4`Xe\VTa
CXgeb_Xh`<afg\ghgXÀf5bTeWbY7\eXVgbef!
CXgXe=!EbUXegfba(*
I\VX6[T\e`TabYg[X5bTeWTaWT7\eXVgbe
f\aVX%##%!;X\feXfcbaf\U_XYbeg[XVb`cT
alÀfjbe_Wj\WXXkc_beTg\bacebWhVg\baTaW
Z_bUT_ZTfUhf\aXffXf!;XT_fb\fT7\eXVgbebY
FTfb_6[Xieba;b_W\aZf?gW!CeXi\bhf_l[XjTf
X_XVgXWCeXf\WXag6[XiebaBiXefXTfCXgeb
_Xh`<aV!\a%###.T6becbeTgXI\VXCeXf\WXag
TaWCeXf\WXag6[XiebaH!F!4!CebWhVg\ba
6b`cTaleXfcbaf\U_XYbeAbeg[4`Xe\VTa
Xkc_beTg\baTaWcebWhVg\ba\a$,,*!;X]b\aXW
6[XiebaGXkTVb\a$,*&!
FT`hX_;!4e`TVbfg)'
7\eXVgbef\aVX$,+%!;X\f6[T\e`TabYFE<
<agXeaTg\baT_!CeXi\bhf_l[XjTfT@TaTZ\aZ
7\eXVgbebYJX\ffCXV^:eXXe??6!;XT_fb
\fT7\eXVgbebYG[X=T`Xf<ei\aX9bhaWTg\ba
7X_@bagX9bbWf6b`cTalTaW8kcbaXag
<aV!&'
EbUXeg=!8Tgba)'
7\eXVgbef\aVX%##$!;X\feXg\eXW6[T\e`TabY
g[X5bTeWbY@TaTZX`XagbY7T\`_Xe6[elf_Xe
4:!CeXi\bhf_l[XjTf6[T\e`TabYg[X5bTeW
TaW6[\XY8kXVhg\iXBVXebY6[elf_Xe6becb
eTg\baTaWjTfX_XVgXWTGXkTVb<aV!7\eXVgbe
\a%###!;XT_fb\fT7\eXVgbebY<agXeaTg\baT_
CTcXe6b`cTal!%'
FT`:\aa))
7\eXVgbef\aVX$,+,!;X\feXg\eXW6[T\e`Ta
bYIbWTYbaX4\eGbhV[C?6!CeXi\bhf_l[XjTf
6[T\e`TabYg[X5bTeWTaW6[\XY8kXVhg\iX
BYÉVXebY4\eGbhV[6b``ha\VTg\baf<aV!
TaW6[T\e`TabYg[X5bTeWCeXf\WXagTaW
6[\XY8kXVhg\iXBYÉVXebYCTV\ÉVGX_Xf\f
:ebhc!;XT_fb\fT7\eXVgbebY;Xj_Xgg
CTV^TeW6b`cTalTaWGX`c_Xgba8`XeZ\aZ
@Te^Xgf<aiXfg`XagGehfgC?6!$
6Te_T4!;\__f*#
7\eXVgbef\aVX$,,&!F[X\f6[T\e`TaTaW
6[\XY8kXVhg\iXBYÉVXebY;\__f6b`cTal
<agXeaTg\baT_6bafh_gTagf!F[XfXeiXWTfH!F!
GeTWXEXceXfXagTg\iXYeb`$,+,gb$,,&TaW
FXVeXgTelbYg[X7XcTeg`XagbY;bhf\aZTaW
HeUTa7XiX_bc`XagYeb`$,*(gb$,**!F[X\f
T7\eXVgbebY4`Xe\VTa<agXeaTg\baT_:ebhc
<aV!.?hVXagGXV[ab_bZ\Xf<aV!.TaWG\`XJTe
aXe<aV!&'
9eTa^_la:!=Xa\YXe)(
7\eXVgbef\aVX%##$!;X\fCeXf\WXagbYG[X
Ha\iXef\glbYGXkTfTg7T__Tf!CeXi\bhf_l[X
jTfCeXf\WXagbY;bjTeWHa\iXef\glTaW
6[TaVX__bebYg[X@TffTV[hfXggf5bTeWbY
EXZXagfbY;\Z[Xe8WhVTg\ba!;XjTfX_XVgXW
TGXkTVb<aV!7\eXVgbe\a$,,&!;X\fT7\eXVgbe
bYg[XGXkTfFV\XaVXTaWGXV[ab_bZl6bhaV\_
7T__Tf6\g\mXaf6bhaV\_TaWg[X@ba\gbe\aZ
6b``\ggXXYbeg[X?bh\f\TaT7XfXZeXZTg\ba
FXgg_X`Xag4ZeXX`Xag!$
=!5XaaXgg=b[afgba*$
7\eXVgbef\aVX$,,*!;X\f6[\XY8kXVhg\iX
BYÉVXebY=b[afgba4ffbV\TgXfTZbiXea
`XagT_TaWUhf\aXffVbafh_g\aZÉe`!;X
fXeiXWTfTH!F!FXaTgbeYeb`?bh\f\TaTYbe
%'lXTef!;X\fCeXf\WXagbYg[XH!F!CTV\ÉV
8Vbab`\V6bbcXeTg\ba6bhaV\_TaWT7\eXVgbe
bYAXkTag<aV!TaW9eXXcbeg @V@bETa6bc
cXe:b_W<aV!%'
FT`Ahaa)(
7\eXVgbef\aVX%##$!;X\f6b 6[T\e`TaTaW
6[\XY8kXVhg\iXBYÉVXebYg[XAhV_XTeG[eXTg
<a\g\Tg\iXTV[Te\gTU_XbeZTa\mTg\ba!;XT_fb
\fTW\fg\aZh\f[XWcebYXffbeTgg[XFT`Ahaa
FV[bb_bY<agXeaTg\baT_4YYT\ef:XbeZ\TGXV[!
;XfXeiXWTfTH!F!FXaTgbeYeb`:XbeZ\TYbe
%'lXTefTaWjTfX_XVgXWTGXkTVb<aV!7\eXV
gbe\a$,,*!;X\fT7\eXVgbebYG[X6bVT 6b_T
6b`cTal.7X__<aV!.<agXeaXgFXVhe\glFlfgX`f
<aV!.FV\Xag\ÉV 4g_TagT<aV!.TaW:XaXeT_8_XV
ge\V6b`cTal!%&
6[Te_XfE!F[bX`TgX)'
7\eXVgbef\aVX%##$!;X\feXg\eXW6[T\e`Ta
bYg[X5bTeWCeXf\WXagTaW6[\XY8kXVhg\iX
BYÉVXebY5XfgYbbWf!;XjTfX_XVgXWTGXkTVb
<aV!7\eXVgbe\a$,,+!;X\fT7\eXVgbebY
<agXeaTg\baT_CTcXe6b`cTalTaW6<:A4
6becbeTg\ba!$
9eTa^4!F[ebagm*%
7\eXVgbef\aVX$,,)!;X\feXg\eXW6[T\e`Ta
bYg[X5bTeWbYG[X5bX\aZ6b`cTal!9eb`
$,*&gb$,**[XfXeiXWTf4ff\fgTagFXVeXgTel
bY7XYXafXTaW4ff\fgTagFXVeXgTelbYg[X4\e
9beVX!;XT_fb\fT7\eXVgbebY5b\fX6TfVTWX
6becbeTg\ba!%'
G[b`Tf4!ITaWXef_\VX*%
7\eXVgbef\aVX%##$!;X\fTce\iTgX\aiXfgbe!
CeXi\bhf_l[XjTf6[T\e`TaTaW6[\XY8kXVh
g\iXBYÉVXebY@"4 6B@<aV!.6[T\e`TaTaW
6[\XY8kXVhg\iXBYÉVXebY4cb__b6b`chgXe
<aV!.TaWCeXf\WXagTaW6[\XYBcXeTg\aZ
BYÉVXebY:G86becbeTg\ba!;XjTfX_XVgXWT
GXkTVb<aV!7\eXVgbe\a$,+#!;X\fT7\eXVgbe
bYJ!E!:eTVX6b!$
6Te_JTeX)#
7\eXVgbef\aVX%##$!;X\fFXa\be4Wi\fXegb
g[X6[\XY8kXVhg\iXBVXebYG[X6bVT 6b_T
6b`cTalTaWeXg\eXW8kXVhg\iXI\VXCeXf\WXag
bY:_bUT_ChU_\V4YYT\efTaW4W`\a\fgeTg\baYbe
G[X6bVT 6b_T6b`cTal!CeXi\bhf_l[XjTf
CeXf\WXagbYG[X6bVT 6b_T6b`cTalÀf4Ye\VT
:ebhc!;X\fT7\eXVgbebY:XbeZ\TCbjXe6b`
cTal.C:4GBHE:b_Y6bhefXCebcXeg\Xf<aV!.
TaWATg\baT_?\YXbYIXe`bag!%&
=b[a4!LbhaZ*$
7\eXVgbef\aVX$,+(!;X\f6[T\e`TabYg[X
5bTeWbY6\c[XeZXa5\bflfgX`f<aV!CeXi\
bhf_l[XjTfI\VX6[T\e`TabYg[X5bTeWbY
AbiX__<aV!.I\VX6[T\e`TabYg[X5bTeWbY
F`\g[>_\aX5XXV[T`C?6.TaWCeXf\WXagTaW
6[\XY8kXVhg\iXBYÉVXebY;Xj_Xgg CTV^TeW
6b`cTal!;XfXeiXfbaah`XebhfUbTeWf
\aV_hW\aZ4YYl`Xge\k<aV!TaW?hVXagGXV[
ab_bZ\Xf<aV!$
EXg\e\aZ7\eXVgbe.j\__abgfgTaWYbeeXX_XVg\baTgg[X
4ce\_%+%##'4aahT_@XXg\aZ!
6B@@<GG88FB9G;85B4E7
$4hW\g-FT`:\aa6[T\e`Ta
%ChU_\VCb_\Vl-=!5XaaXgg=b[afgba6[T\e`Ta
&5bTeWAb`\aTg\aZTaW:biXeaTaVX-
6Te_T4!;\__f6[T\ejb`Ta
'@TaTZX`Xag6b`cXafTg\ba-
FT`hX_;!4e`TVbfg6[T\e`Ta
5B4E7B97<E86GBEF
74I<7=!BÀE8<??L C8G8E=!EB58EGFBA F4@H8?;!4E@46BFG EB58EG=!84GBA F4@:<AA
9E4A>4!F;EBAGM G;B@4F4!I4A78EF?<68 64E?J4E8 =B;A4!LBHA:
64E?44!;<??F 9E4A>?LA:!=8A<98E =!58AA8GG=B;AFGBA F4@AHAA 6;4E?8FE!F;B8@4G8