ChevronTexaco Reports Fourth Quarter Net Income of $904 Million And Operating Earnings of $1.1 Billion

biz.yahoo.com Press Release Source: ChevronTexaco Corp. Friday January 31, 9:02 am ET

-- Higher crude oil and natural gas prices boost upstream results but weaken downstream -- Exploration and production operating earnings of $1.2 billion up 125 percent from year-ago quarter -- Refining, marketing and transportation segment incurs an operating loss of $151 million -- Merger synergies on track toward annual savings target of $2.2 billion before-tax by end of first quarter -- Oil and gas reserves replacement for 2002 exceeds 100 percent for tenth consecutive year