Chevron
North America Crude Oil Marketing - January 2003 Summary California Bulletins 03-CA1 to 03-CA16, 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
CaliforniaAPICA1
01/02
CA2
01/03
CA3
01/06
CA4
01/07
CA5
01/08
CA6
01/09
CA7
01/10
CA8
01/13
CA9
01/15
Asphalto29.6030.8529.8529.1028.8530.1029.8530.3531.35
Belridge Hvy (under 28°)26.1527.4026.4025.6525.4026.6526.4026.9027.90
Belridge Lt (over 28°)29.4030.6529.6528.9028.6529.9029.6530.1531.15
Buena Vista Hills28.4529.7028.7027.9527.7028.9528.7029.2030.20
Cal Canal30.4531.7030.7029.9529.7030.9530.7031.2032.20
Coalinga26.4527.7026.7025.9525.7026.9526.7027.2028.20
Cymric25.8027.0526.0525.3025.0526.3026.0526.5527.55
Huntington Beach27.0528.3027.3026.5526.3027.5527.3027.8028.80
Kern River26.0027.2526.2525.5025.2526.5026.2526.7527.75
Kettleman Hills29.8531.1030.1029.3529.1030.3530.1030.6031.60
Lost Hills29.3530.6029.6028.8528.6029.8529.6030.1031.10
McKittrick26.0027.2526.2525.5025.2526.5026.2526.7527.75
Midway Sunset26.0027.2526.2525.5025.2526.5026.2526.7527.75
Montebello27.9529.2028.2027.4527.2028.4528.2028.7029.70
Pt Arguello (onshore)22.6523.9022.9022.1521.9023.1522.9023.4024.40
Railroad Gap29.5030.7529.7529.0028.7530.0029.7530.2531.25
San Ardo24.5025.7524.7524.0023.7525.0024.7525.2526.25
Seal Beach28.9030.1529.1528.4028.1529.4029.1529.6530.65
Gravity AdjustmentPrice Adjustment $/bbl/Tenth°API
Above 40.0°API0.00000.00000.00000.00000.00000.00000.00000.00000.0000
34.0° to 40.0°API0.01000.01000.01000.01000.01000.01000.01000.01000.0100
Below 34.0°API0.01500.01500.01500.01500.01500.01500.01500.01500.0150
CaliforniaAPICA10
01/16
CA11
01/17
CA12
01/21
CA13
01/23
CA14
01/24
CA15
01/27
CA16
01/29
 Mthly
Avg
Asphalto31.8532.1032.6031.8532.1031.1031.85 31.0355
Belridge Hvy (under 28°)28.4028.6529.1528.4028.6527.6528.40 27.5855
Belridge Lt (over 28°)31.6531.9032.4031.6531.9030.9031.65 30.8355
Buena Vista Hills30.7030.9531.4530.7030.9529.9530.70 29.8855
Cal Canal32.7032.9533.4532.7032.9531.9532.70 31.8855
Coalinga28.7028.9529.4528.7028.9527.9528.70 27.8855
Cymric28.0528.3028.8028.0528.3027.3028.05 27.2355
Huntington Beach29.3029.5530.0529.3029.5528.5529.30 28.4855
Kern River28.2528.5029.0028.2528.5027.5028.25 27.4355
Kettleman Hills32.1032.3532.8532.1032.3531.3532.10 31.2855
Lost Hills31.6031.8532.3531.6031.8530.8531.60 30.7855
McKittrick28.2528.5029.0028.2528.5027.5028.25 27.4355
Midway Sunset28.2528.5029.0028.2528.5027.5028.25 27.4355
Montebello30.2030.4530.9530.2030.4529.4530.20 29.3855
Pt Arguello (onshore)24.9025.1525.6524.9025.1524.1524.90 24.0855
Railroad Gap31.7532.0032.5031.7532.0031.0031.75 30.9355
San Ardo26.7527.0027.5026.7527.0026.0026.75 25.9355
Seal Beach31.1531.4031.9031.1531.4030.4031.15 30.3355
Gravity AdjustmentPrice Adjustment $/bbl/Tenth°API
Above 40.0°API0.00000.00000.00000.00000.00000.00000.0000 0.0000
34.0° to 40.0°API0.01000.01000.01000.01000.01000.01000.0100 0.0100
Below 34.0°API0.01500.01500.01500.01500.01500.01500.0150 0.0150
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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