EXHIBIT 12

CHEVRONTEXACO CORPORATION – TOTAL ENTERPRISE BASIS

COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES

	Nine Months
	Ended		Year Ended December 31,
	September 30,
	2002		2001			2000			1999			1998		1997
	(Dollars in Millions)
Net Income Before Extraordinary Items	$	228	$	3,931		$	7,727		$	3,247		$	1,917	$	5,920
Income Tax Expense		2,332		4,360			6,322			2,565			919		3,273
Distributions Greater Than (Less Than) Equity in Earnings of Affiliates		333		(489	)		(26	)		(288	)		49		(908	)
Minority Interest		35		121			111			71			62		82
Previously Capitalized Interest Charged to Earnings During Period		52		67			71			74			57		53
Interest and Debt Expense		424		833			1,110			1,132			1,057		870
Interest Portion of Rentals*		294		357			340			249			255		251
Earnings Before Provision for Taxes And Fixed Charges	$	3,698	$	9,180		$	15,655		$	7,050		$	4,316	$	9,541
Interest and Debt Expense	$	424	$	833		$	1,110		$	1,132		$	1,057	$	870
Interest Portion of Rentals*		294		357			340			249			255		251
Preferred Stock Dividends of Subsidiaries		4		48			50			55			33		33
Capitalized Interest		53		122			108			38			63		109
Total Fixed Charges	$	775	$	1,360		$	1,608		$	1,474		$	1,408	$	1,263
Ratio Of Earnings To Fixed Charges		4.77		6.75			9.74			4.78			3.07		7.55

*  Calculated as one-third of rentals.

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