Chevron
North America Crude Oil Marketing - December 2003 Summary California Bulletins 03-CA183 to 03-CA199, 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
CaliforniaAPICA183
12/01
CA184
12/02
CA185
12/03
CA186
12/04
CA187
12/05
CA188
12/08
CA189
12/10
CA190
12/12
CA191
12/16
Asphalto27.5028.0028.2528.5028.2529.5029.7531.0030.75
Belridge Hvy (under 28°)23.7024.2024.4524.7024.4525.7025.9527.2026.95
Belridge Lt (over 28°)27.2527.7528.0028.2528.0029.2529.5030.7530.50
Buena Vista Hills26.2026.7026.9527.2026.9528.2028.4529.7029.45
Cal Canal28.3528.8529.1029.3529.1030.3530.6031.8531.60
Coalinga24.0024.5024.7525.0024.7526.0026.2527.5027.25
Cymric23.2523.7524.0024.2524.0025.2525.5026.7526.50
Huntington Beach24.6025.1025.3525.6025.3526.6026.8528.1027.85
Kern River23.5024.0024.2524.5024.2525.5025.7527.0026.75
Kettleman Hills27.7528.2528.5028.7528.5029.7530.0031.2531.00
Lost Hills27.2027.7027.9528.2027.9529.2029.4530.7030.45
McKittrick23.5024.0024.2524.5024.2525.5025.7527.0026.75
Midway Sunset23.5024.0024.2524.5024.2525.5025.7527.0026.75
Montebello25.6026.1026.3526.6026.3527.6027.8529.1028.85
Pt Arguello (onshore)20.0020.5020.7521.0020.7522.0022.2523.5023.25
Railroad Gap27.3527.8528.1028.3528.1029.3529.6030.8530.60
San Ardo21.9022.4022.6522.9022.6523.9024.1525.4025.15
Seal Beach26.7027.2027.4527.7027.4528.7028.9530.2029.95
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°API0.02000.02000.02000.02000.02000.02000.02000.02000.0200
CaliforniaAPICA192
12/17
CA193
12/18
CA194
12/19
CA195
12/22
CA196
12/24
CA197
12/29
CA198
12/30
CA199
12/31
Mthly
Avg
Asphalto31.2531.7531.0029.7530.7530.5031.0030.7530.0565
Belridge Hvy (under 28°)27.4527.9527.2025.9526.9526.7027.2026.9526.2565
Belridge Lt (over 28°)31.0031.5030.7529.5030.5030.2530.7530.5029.8065
Buena Vista Hills29.9530.4529.7028.4529.4529.2029.7029.4528.7565
Cal Canal32.1032.6031.8530.6031.6031.3531.8531.6030.9065
Coalinga27.7528.2527.5026.2527.2527.0027.5027.2526.5565
Cymric27.0027.5026.7525.5026.5026.2526.7526.5025.8065
Huntington Beach28.3528.8528.1026.8527.8527.6028.1027.8527.1565
Kern River27.2527.7527.0025.7526.7526.5027.0026.7526.0565
Kettleman Hills31.5032.0031.2530.0031.0030.7531.2531.0030.3065
Lost Hills30.9531.4530.7029.4530.4530.2030.7030.4529.7565
McKittrick27.2527.7527.0025.7526.7526.5027.0026.7526.0565
Midway Sunset27.2527.7527.0025.7526.7526.5027.0026.7526.0565
Montebello29.3529.8529.1027.8528.8528.6029.1028.8528.1565
Pt Arguello (onshore)23.7524.2523.5022.2523.2523.0023.5023.2522.5565
Railroad Gap31.1031.6030.8529.6030.6030.3530.8530.6029.9065
San Ardo25.6526.1525.4024.1525.1524.9025.4025.1524.4565
Seal Beach30.4530.9530.2028.9529.9529.7030.2029.9529.2565
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°API0.02000.02000.02000.02000.02000.02000.02000.02000.0200
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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