Chevron
North America Crude Oil Marketing - December 2002 Summary California Bulletins 02-CA115 to 02-CA126, with Monthly Averages

Chevron has changed its posted prices as shown below:

Effective 7:00 AM on the above listed effective date, subject to change without notice, Chevron will pay the following prices per barrel for crude oil and condensate delivered for its account into the custody of its authorized carrier or receiving agent. Prices are subject to deduction for transportation and other charges where applicable. Prices for oil apply to quantities measured by approved automatic custody transfer facilities or 100% tank table with customary adjustment of volume and gravity for temperature and full deduction for sediment and water.

* Prices are subject to a Gravity Adjustment Scale
CaliforniaAPICA115
12/04
CA116
12/05
CA117
12/10
CA118
12/12
CA119
12/13
CA120
12/16
CA121
12/18
Asphalto24.5024.7525.2525.7526.0027.5028.00
Belridge Hvy (under 28°)20.7020.9521.4521.9522.2023.7024.20
Belridge Lt (over 28°)24.2524.5025.0025.5025.7527.2527.75
Buena Vista Hills23.2023.4523.9524.4524.7026.2026.70
Cal Canal25.3525.6026.1026.6026.8528.3528.85
Coalinga21.0021.2521.7522.2522.5024.0024.50
Cymric20.3020.5521.0521.5521.8023.3023.80
Huntington Beach21.6021.8522.3522.8523.1024.6025.10
Kern River20.5020.7521.2521.7522.0023.5024.00
Kettleman Hills24.7525.0025.5026.0026.2527.7528.25
Lost Hills24.2024.4524.9525.4525.7027.2027.70
McKittrick20.5020.7521.2521.7522.0023.5024.00
Midway Sunset20.5020.7521.2521.7522.0023.5024.00
Montebello22.6022.8523.3523.8524.1025.6026.10
Pt Arguello (onshore)17.1517.4017.9018.4018.6520.1520.65
Railroad Gap24.3524.6025.1025.6025.8527.3527.85
San Ardo18.9519.2019.7020.2020.4521.9522.45
Seal Beach23.7023.9524.4524.9525.2026.7027.20
Gravity AdjustmentPrice Adjustment $/bbl/Tenth°API
Above 40.0°API0.00000.00000.00000.00000.00000.00000.0000
34.0° to 40.0°API0.01000.01000.01000.01000.01000.01000.0100
Below 34.0°API0.02000.02000.02000.02000.02000.02000.0200
CaliforniaAPICA122
12/23
CA123
12/26
CA124
12/27
CA125
12/30
CA126
12/31
 Mthly
Avg
Asphalto29.3530.1030.3529.3529.10 27.0774
Belridge Hvy (under 28°)25.9026.6526.9025.9025.65 23.3790
Belridge Lt (over 28°)29.1529.9030.1529.1528.90 26.8419
Buena Vista Hills28.2028.9529.2028.2027.95 25.8210
Cal Canal30.2030.9531.2030.2029.95 27.9274
Coalinga26.2026.9527.2026.2025.95 23.6790
Cymric25.5526.3026.5525.5525.30 22.9935
Huntington Beach26.8027.5527.8026.8026.55 24.2790
Kern River25.7526.5026.7525.7525.50 23.1935
Kettleman Hills29.6030.3530.6029.6029.35 27.3274
Lost Hills29.1029.8530.1029.1028.85 26.7919
McKittrick25.7526.5026.7525.7525.50 23.1935
Midway Sunset25.7526.5026.7525.7525.50 23.1935
Montebello27.7028.4528.7027.7027.45 25.2500
Pt Arguello (onshore)22.4023.1523.4022.4022.15 19.8435
Railroad Gap29.2530.0030.2529.2529.00 26.9419
San Ardo24.2525.0025.2524.2524.00 21.6581
Seal Beach28.6529.4029.6528.6528.40 26.3065
Gravity AdjustmentPrice Adjustment $/bbl/Tenth°API
Above 40.0°API0.00000.00000.00000.00000.0000 0.0000
34.0° to 40.0°API0.01000.01000.01000.01000.0100 0.0100
Below 34.0°API0.01500.01500.01500.01500.0150 0.0185
Note: Prices in $/bbl

Measurement
The prices are based upon computation of quantities by mutually acceptable automatic measuring equipment in accordance with the latest ASTM Standards and API Manual of Petroleum Measurement Standards (MPMS) generally accepted in the petroleum industry with deductions for full sediment, water and other impurities.

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