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SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 of 15(d)
of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported):
March 10, 1995
CHEVRON CORPORATION
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(Exact name of registrant as specified in its charter)
Delaware 1-368-2 94-0890210
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(State or other (Commission File Number) (I.R.S. Employer No.)
jurisdiction of
incorporation)
225 Bush Street, San Francisco, CA 94104
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(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code:
(415) 894-7700
Item 5. Other Events.
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Summarized Financial Data for the three years ended December
31, 1994 for Chevron Corporation's wholly owned subsidiary
Chevron Transport Corporation is attached hereto as
Exhibit 99.1 and made a part hereof.
Item 7. Financial Statements and Exhibits.
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(c) Exhibits.
23.1 Consent of Price Waterhouse LLP, independent
accountants, for Form 8-K.
99.1 Chevron Transport Corporation's Summarized Financial
Data (audited) for the three years ended December 31,
1994.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of
1934, the registrant has duly caused this report to be signed on its behalf
by the undersigned hereunto duly authorized.
Dated: March 10, 1995
CHEVRON CORPORATION
By /s/ M.J. McAULEY
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M.J. McAuley, Secretary
Exhibit 23.1
CONSENT OF INDEPENDENT ACCOUNTANTS
We hereby consent to the application of our report dated February 28, 1995,
which appears on page FS-13 of Chevron's Current Report on Form 8-K dated
March 10, 1995, to the summarized financial data of Chevron Transport
Corporation appearing in this Form 8-K when such data are read in conjunction
with the consolidated financial statements of Chevron Corporation appearing in
the Current Report on Form 8-K dated March 10, 1995. The audit referred to
in this report also included such data.
/s/ Price Waterhouse
PRICE WATERHOUSE LLP
San Francisco, California
February 28, 1995
Exhibit 99.1
SUMMARIZED FINANCIAL DATA OF
CHEVRON TRANSPORT CORPORATION
Chevron Transport Corporation (CTC), a Liberian corporation, is an indirect,
wholly owned subsidiary of Chevron Corporation. CTC is the principal operator
of Chevron's international tanker fleet and is engaged in the marine
transportation of oil and refined products. Most of CTC's shipping revenue is
derived by providing transportation services to other Chevron companies. The
following table sets forth certain summary financial data for Chevron
Transport Corporation and its subsidiaries (Chevron Tankers (Bermuda) Limited,
Chevron Manning Services Limited and Chevron Product Carriers Corporation)
derived from the financial statements prepared on a stand alone basis in
conformity with generally accepted accounting principles.
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Year Ended December 31
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Dollars in Millions 1994 1993* 1992
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Sales and other operating revenues $440 $542 $519
Total costs and other deductions 504 553 514
(Loss) income before cumulative effect
of changes in accounting principles (58) (3) 6
Cumulative effect of changes in accounting principles - (15) -
Net (loss) income (58) (18) 6
At December 31
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1994 1993 1992
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Current assets $ 75 $108 $164
Other assets 851 796 791
Current liabilities 404 376 360
Other liabilities 208 185 207
Net equity 314 343 388
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* Effective January 1, 1993, Chevron Transport Corporation adopted Statement
of Financial Accounting Standards No. 109 (SFAS 109), "Accounting for Income
Taxes." In prior periods, Chevron Transport Corporation accounted for income
taxes in accordance with SFAS 96, "Accounting for Income Taxes."
Separate financial statements and other disclosures with respect to CTC are
omitted as such separate financial statements and other disclosures are not
material to investors in CTC's debt securities. There were no restrictions on
CTC's ability to pay dividends at year end 1994.