Exhibit 15.1

July 23, 2003

Premcor Inc.
1700 East Putnam Avenue
Suite #400
Old Greenwich, CT 06870

We have made a review, in accordance with standards established by the American
Institute of Certified Public Accountants, of the unaudited interim financial
information of Premcor Inc. and subsidiaries for the three-month and six-month
periods ended June 30, 2003 and 2002, as indicated in our report dated July 23,
2003. Because we did not perform an audit, we expressed no opinion on that
information.

We are aware that our report referred to above, which is included in your
Quarterly Report on Form 10-Q for the quarter ended June 30, 2003, is
incorporated by reference into Registration Statement No. 333-87210 on Form S-8.

We also are aware that the aforementioned report, pursuant to Rule 436(c) under
the Securities act of 1933, is not considered a part of the Registration
Statement prepared or certified by an accountant or a report prepared or
certified by an accountant within the meaning of Sections 7 and 11 of that Act.

Yours truly,


DELOITTE & TOUCHE LLP