Chevron
North America Crude Oil Marketing - February 2003 Summary California Bulletins 03-CA17 to 03-CA33, 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
CaliforniaAPICA17
02/03
CA18
02/04
CA19
02/05
CA20
02/06
CA21
02/07
CA22
02/10
CA23
02/11
CA24
02/12
CA25
02/13
Asphalto31.3532.1032.5032.7533.5033.0034.0034.2534.75
Belridge Hvy (under 28°)27.9028.6528.7028.9529.7029.2030.2030.4530.95
Belridge Lt (over 28°)31.1531.9032.2532.5033.2532.7533.7534.0034.50
Buena Vista Hills30.2030.9531.2031.4532.2031.7032.7032.9533.45
Cal Canal32.2032.9533.3533.6034.3533.8534.8535.1035.60
Coalinga28.2028.9529.0029.2530.0029.5030.5030.7531.25
Cymric27.5528.3028.3028.5529.3028.8029.8030.0530.55
Huntington Beach28.8029.5529.6029.8530.6030.1031.1031.3531.85
Kern River27.7528.5028.5028.7529.5029.0030.0030.2530.75
Kettleman Hills31.6032.3532.7533.0033.7533.2534.2534.5035.00
Lost Hills31.1031.8532.2032.4533.2032.7033.7033.9534.45
McKittrick27.7528.5028.5028.7529.5029.0030.0030.2530.75
Midway Sunset27.7528.5028.5028.7529.5029.0030.0030.2530.75
Montebello29.7030.4530.6030.8531.6031.1032.1032.3532.85
Pt Arguello (onshore)24.4025.1525.1525.4026.1525.6526.6526.9027.40
Railroad Gap31.2532.0032.3532.6033.3532.8533.8534.1034.60
San Ardo26.2527.0026.9527.2027.9527.4528.4528.7029.20
Seal Beach30.6531.4031.7031.9532.7032.2033.2033.4533.95
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°API0.01500.01500.02000.02000.02000.02000.02000.02000.0200
CaliforniaAPICA26
02/14
CA27
02/18
CA28
02/19
CA29
02/20
CA30
02/25
CA31
02/26
CA32
02/27
CA33
02/28
Mthly
Avg
Asphalto35.2535.5035.7535.5035.0036.5036.0035.5034.3446
Belridge Hvy (under 28°)31.4531.7031.9531.7031.2032.7032.2031.7030.5946
Belridge Lt (over 28°)35.0035.2535.5035.2534.7536.2535.7535.2534.1018
Buena Vista Hills33.9534.2034.4534.2033.7035.2034.7034.2033.0661
Cal Canal36.1036.3536.6036.3535.8537.3536.8536.3535.1946
Coalinga31.7532.0032.2532.0031.5033.0032.5032.0030.8946
Cymric31.0531.3031.5531.3030.8032.3031.8031.3030.2018
Huntington Beach32.3532.6032.8532.6032.1033.6033.1032.6031.4946
Kern River31.2531.5031.7531.5031.0032.5032.0031.5030.4018
Kettleman Hills35.5035.7536.0035.7535.2536.7536.2535.7534.5946
Lost Hills34.9535.2035.4535.2034.7036.2035.7035.2034.0518
McKittrick31.2531.5031.7531.5031.0032.5032.0031.5030.4018
Midway Sunset31.2531.5031.7531.5031.0032.5032.0031.5030.4018
Montebello33.3533.6033.8533.6033.1034.6034.1033.6032.4804
Pt Arguello (onshore)27.9028.1528.4028.1527.6529.1528.6528.1527.0518
Railroad Gap35.1035.3535.6035.3534.8536.3535.8535.3534.2018
San Ardo29.7029.9530.2029.9529.4530.9530.4529.9528.8589
Seal Beach34.4534.7034.9534.7034.2035.7035.2034.7033.5589
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°API0.02000.02000.02000.02000.02000.02000.02000.02000.0193
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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