Chevron
North America Crude Oil Marketing - November 2003 Summary East of the Rockies Bulletins 03-E217 to 03-E235, with Monthly Averages

Chevron has changed its posted prices as shown below:

Effective 7:00 a.m. on the date(s) indicated, and subject to change without notice and subject to the terms and conditions of its division orders or other contracts, Chevron will pay the following prices ($/bbl) for oil at 40.0° API and above, except as noted below, delivered into pipelines for its account into the custody of its authorized carrier or receiving agent. The posted prices for crude oil transported by truck or barge will be the following prices less appropriate trucking or barge cost. The posted prices for crude oil received off shore will be the following prices less appropriate transportation and quality costs to get the crude on shore. Regarding technical issues of Chevron's most recent posted prices, call Christine Mathwig 832-854-5159.

* Prices are subject to a Gravity Adjustment Scale
East of the RockiesE217
11/01
E218
11/03
E219
11/04
E220
11/05
E221
11/06
E222
11/07
E223
11/10
E224
11/11
E225
11/12
E226
11/13
Gvty
Adj*
Altamont Yellow Wax29.1128.9028.7530.3030.2630.8530.8831.1531.3331.90B
Bonito Sour (Onshore)28.2528.0028.0029.5029.5030.0030.0030.2530.5031.00A
Deepwater Sour (Onshore) (30°)26.0025.7525.5027.0027.0027.7527.7528.0028.0028.75F,G
East Texas28.7528.5428.3929.9429.9030.4930.5230.7930.9731.54none
Eugene Island Sour (Onshore)28.0027.7527.7529.2529.2529.7529.7530.0030.2530.75A
Heavy Louisiana Sweet (Onshore)29.5029.2529.0030.5030.5031.2531.2531.5031.7532.25A
Light Louisiana Sweet (Onshore)29.5029.2529.0030.7530.5031.2531.2531.5031.7532.25A
New Mexico Intermediate29.0728.8628.7130.2630.2230.8130.8431.1131.2931.86none
New Mexico Sour (34°)26.6126.4026.2527.8027.7628.3528.3828.6528.8329.40none
North Texas Sweet28.0127.8027.6529.2029.1629.7529.7830.0530.2330.80none
Oklahoma Sour26.6126.4026.2527.8027.7628.3528.3828.6528.8329.40none
Oklahoma Sweet29.2429.0328.8830.4330.3930.9831.0131.2831.4632.03none
South Texas Light Sweet27.7427.5327.3828.9328.8929.4829.5129.7829.9630.53none
Southwest Wyoming Sweet29.9129.7029.5531.1031.0631.6531.6831.9532.1332.70E
Uinta Basin Black Wax26.3626.1526.0027.5527.5128.1028.1328.4028.5829.15B
West Texas Intermediate28.5328.3228.1729.7229.6830.2730.3030.5730.7531.32none
West Texas Sour (34°)26.0625.8525.7027.2527.2127.8027.8328.1028.2828.85none
Western Colorado29.9029.6929.5431.0931.0531.6431.6731.9432.1232.69B
East of the RockiesE227
11/14
E228
11/17
E229
11/18
E230
11/19
E231
11/20
E232
11/21
E233
11/24
E234
11/25
E235
11/26
Gvty
Adj*
Mthly
Avg
Altamont Yellow Wax32.3731.7333.2832.9232.8631.6129.7429.7730.4130.9510
Bonito Sour (Onshore)31.5031.0032.5032.0032.0030.7529.0029.0029.5030.1000
Deepwater Sour (Onshore) (30°)29.2528.5030.0029.7529.7528.5026.5026.5027.2527.7833
East Texas32.0131.3732.9232.5632.5031.2529.3829.4130.0530.5910
Eugene Island Sour (Onshore)31.2530.7532.2532.0031.7530.5028.7528.7529.5029.9000
Heavy Louisiana Sweet (Onshore)32.7532.0033.5033.2533.2532.0030.0030.0030.7531.2917
Light Louisiana Sweet (Onshore)32.7532.0033.7533.2533.2532.0030.0030.0030.7531.3083
New Mexico Intermediate32.3331.6933.2432.8832.8231.5729.7029.7330.3730.9110
New Mexico Sour (34°)29.8729.2330.7830.4230.3629.1127.2427.2727.9128.4510
North Texas Sweet31.2730.6332.1831.8231.7630.5128.6428.6729.3129.8510
Oklahoma Sour29.8729.2330.7830.4230.3629.1127.2427.2727.9128.4510
Oklahoma Sweet32.5031.8633.4133.0532.9931.7429.8729.9030.5431.0810
South Texas Light Sweet31.0030.3631.9131.5531.4930.2428.3728.4029.0429.5810
Southwest Wyoming Sweet33.1732.5334.0833.7233.6632.4130.5430.5731.2131.7510
Uinta Basin Black Wax29.6228.9830.5330.1730.1128.8626.9927.0227.6628.2010
West Texas Intermediate31.7931.1532.7032.3432.2831.0329.1629.1929.8330.3710
West Texas Sour (34°)29.3228.6830.2329.8729.8128.5626.6926.7227.3627.9010
Western Colorado33.1632.5234.0733.7133.6532.4030.5330.5631.2031.7410
Note: Prices in $/bbl

Measurement
The prices are based upon computation of quantities by mutually acceptable automatic measuring equipment in accordance with provisions of API Standard 1101 or from 100% tank tables with corrections of volume and gravity for temperature to 60°F in accordance with ASTM D-1250 and supplements thereto, if any, and with deductions for full sediment, water and other impurities. Only merchantable oil acceptable to the receiving agency designated by Chevron and containing not more than 1% sediment and water will be accepted.

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