to the formation of Equilon and Motiva or that occurred during the period of Texaco’s ownership interest in the joint ventures. In general, the environmental conditions or events that are subject to these indemnities must have arisen prior to December 2001. Claims must be asserted no later than February 2009 for Equilon indemnities and no later than February 2012 for Motiva indemnities. Under the terms of these indemnities, there is no maximum limit on the amount of potential future payments. The company has not recorded any liabilities for possible claims under these indemnities. The company posts no assets as collateral and has made no payments under the indemnities.

     The amounts payable for the indemnities described above are to be net of amounts recovered from insurance carriers and others and net of liabilities recorded by Equilon or Motiva prior to September 30, 2001, for any applicable incident.

     In the acquisition of Unocal, the company assumed certain indemnities relating to contingent environmental liabilities associated with assets that were sold in 1997. Under the indemnification agreement, the company’s liability is unlimited until April 2022, when the indemnification expires. The acquirer shares in certain environmental remediation costs up to a maximum obligation of $200 million, which had not been reached as of December 31, 2007.

     Securitization  During 2007, the company completed the sale of its U.S. proprietary consumer credit card business and related receivables. This transaction included terminating the qualifying Special Purpose Entity (SPE) that was used to securitize associated retail accounts receivable.

     Through the use of another qualifying SPE, the company had $675 million of securitized trade accounts receivable related to its downstream business as of December 31, 2007. This arrangement has the effect of accelerating Chevron’s collection of the securitized amounts. Chevron’s total estimated financial exposure under this securitization at December 31, 2007, was $65 million. In the event that the SPE experiences major defaults in the collection of receivables, Chevron believes that it would have no additional loss exposure connected with third-party investments in this securitization.

     Minority Interests  The company has commitments of $204 million related to minority interests in subsidiary companies.

     Long-Term Unconditional Purchase Obligations and Commitments, Including Throughput and Take-or-Pay Agreements  The company and its subsidiaries have certain other contingent liabilities relating to long-term unconditional purchase obligations and commitments, including throughput and take-or-pay agreements, some of which relate to suppliers’ financing arrangements. The agreements typically provide goods and services, such as pipeline and storage capacity, drilling rigs, utilities, and petroleum products, to be used or sold in the ordinary course of the company’s business. The aggregate approximate amounts of required payments under these various commitments are: 2008 – $4.7 billion; 2009 – $3.3 billion; 2010 – $3.3 billion; 2011 – $1.9 billion; 2012 – $1.3 billion; 2013 and after –