EXHIBIT 12


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                                           COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
                                           OF TEXACO ON A TOTAL ENTERPRISE BASIS (UNAUDITED)
                                             FOR THE THREE MONTHS ENDED MARCH 31, 1999 AND
                                          FOR EACH OF THE FIVE YEARS ENDED DECEMBER 31, 1998
                                          --------------------------------------------------
                                                         (Millions of dollars)


                                                              For the Three
                                                              Months Ended               Years Ended December 31,
                                                             March 31, 1999     1998     1997      1996      1995       1994

<S>                                                                   <C>      <C>      <C>       <C>      <C>      <C>   
Income from continuing operations,  before provision or
   benefit for income taxes and cumulative effect of
   accounting changes effective 1-1-98 and 1-1-95..........           $ 227    $  892   $3,514    $3,450   $1,201   $1,409
Dividends from less than 50% owned companies
   more or (less) than equity in net income................              15        --      (11)      (4)        1       (1)
Minority interest in net income............................              19        56       68        72       54       44
Previously capitalized interest charged to
   income during the period................................               4        22       25        27       33       29
                                                                      -----    ------   ------    ------   ------   ------
        Total earnings.....................................             265       970    3,596     3,545    1,289    1,481
                                                                      -----    ------   ------    ------   ------   ------

Fixed charges Items charged to income:
     Interest charges......................................             142       664      528       551      614      594
     Interest factor attributable to operating
          lease rentals....................................              22       120      112       129      110      118
     Preferred stock dividends of subsidiaries
          guaranteed by Texaco Inc.........................               8        33       33        35       36       31
                                                                      -----    ------   ------    ------   ------   ------
        Total items charged to income......................             172       817      673       715      760      743

   Interest capitalized....................................               8        26       27        16       28       21
   Interest on ESOP debt guaranteed by Texaco Inc..........              --         3        7        10       14       14
                                                                      -----    ------   ------    ------   ------   ------
        Total fixed charges................................             180       846      707       741      802      778
                                                                      -----    ------   ------    ------   ------   ------

Earnings available for payment of fixed charges............           $ 437    $1,787   $4,269    $4,260   $2,049   $2,224
   (Total earnings + Total items charged to income)                   =====    ======   ======    ======   ======   ======


Ratio of earnings to fixed charges of Texaco
   on a total enterprise basis.............................            2.43      2.11     6.04      5.75     2.55     2.86
                                                                      =====    ======   ======    ======   ======   ======
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