Chevron
North America Crude Oil Marketing - May 2002 Summary California Bulletins 02-CA38 to 02-CA51, 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
CaliforniaAPICA38
05/01
CA39
05/02
CA40
05/06
CA41
05/07
CA42
05/08
CA43
05/13
CA44
05/14
CA45
05/15
Asphalto24.9524.4524.2024.4525.7026.2027.2025.95
Belridge Hvy (under 28°)22.6022.1021.8522.1023.3523.8524.8523.60
Belridge Lt (over 28°)24.9024.4024.1524.4025.6526.1527.1525.90
Buena Vista Hills24.2023.7023.4523.7024.9525.4526.4525.20
Cal Canal25.7025.2024.9525.2026.4526.9527.9526.70
Coalinga22.9022.4022.1522.4023.6524.1525.1523.90
Cymric22.4021.9021.6521.9023.1523.6524.6523.40
Huntington Beach23.2522.7522.5022.7524.0024.5025.5024.25
Kern River22.5022.0021.7522.0023.2523.7524.7523.50
Kettleman Hills25.1024.6024.3524.6025.8526.3527.3526.10
Lost Hills24.8524.3524.1024.3525.6026.1027.1025.85
McKittrick22.5022.0021.7522.0023.2523.7524.7523.50
Midway Sunset22.5022.0021.7522.0023.2523.7524.7523.50
Montebello23.9023.4023.1523.4024.6525.1526.1524.90
Pt Arguello (onshore)19.1518.6518.4018.6519.9020.4021.4020.15
Railroad Gap24.9024.4024.1524.4025.6526.1527.1525.90
San Ardo21.1520.6520.4020.6521.9022.4023.4022.15
Seal Beach24.5524.0523.8024.0525.3025.8026.8025.55
Gravity AdjustmentPrice Adjustment $/bbl/Tenth°API
Above 40.0°API0.00000.00000.00000.00000.00000.00000.00000.0000
34.0° to 40.0°API0.01000.01000.01000.01000.01000.01000.01000.0100
Below 34.0°API0.01000.01000.01000.01000.01000.01000.01000.0100
CaliforniaAPICA46
05/21
CA47
05/23
CA48
05/24
CA49
05/28
CA50
05/30
CA51
05/31
 Mthly
Avg
Asphalto24.9524.4524.2023.4522.4522.70 24.9097
Belridge Hvy (under 28°)22.6022.1021.8521.1020.1020.35 22.5597
Belridge Lt (over 28°)24.9024.4024.1523.4022.4022.65 24.8597
Buena Vista Hills24.2023.7023.4522.7021.7021.95 24.1597
Cal Canal25.7025.2024.9524.2023.2023.45 25.6597
Coalinga22.9022.4022.1521.4020.4020.65 22.8597
Cymric22.4021.9021.6520.9019.9020.15 22.3597
Huntington Beach23.2522.7522.5021.7520.7521.00 23.2097
Kern River22.5022.0021.7521.0020.0020.25 22.4597
Kettleman Hills25.1024.6024.3523.6022.6022.85 25.0597
Lost Hills24.8524.3524.1023.3522.3522.60 24.8097
McKittrick22.5022.0021.7521.0020.0020.25 22.4597
Midway Sunset22.5022.0021.7521.0020.0020.25 22.4597
Montebello23.9023.4023.1522.4021.4021.65 23.8597
Pt Arguello (onshore)19.1518.6518.4017.6516.6516.90 19.1097
Railroad Gap24.9024.4024.1523.4022.4022.65 24.8597
San Ardo21.1520.6520.4019.6518.6518.90 21.1097
Seal Beach24.5524.0523.8023.0522.0522.30 24.5097
Gravity AdjustmentPrice Adjustment $/bbl/Tenth°API
Above 40.0°API0.00000.00000.00000.00000.00000.0000 0.0000
34.0° to 40.0°API0.01000.01000.01000.01000.01000.0100 0.0100
Below 34.0°API0.01000.01000.01000.01000.01000.0100 0.0100
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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