Chevron
North America Crude Oil Marketing - February 2003 Summary East of the Rockies Bulletins 03-E23 to 03-E42, 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 RockiesE23
02/01
E24
02/03
E25
02/04
E26
02/05
E27
02/06
E28
02/07
E29
02/10
E30
02/11
E31
02/12
E32
02/13
E33
02/14
Gvty
Adj*
Altamont Yellow Wax33.5132.7633.5833.9334.1635.1234.4835.4435.7736.3636.80B
Bonito Sour (Onshore)33.0032.2533.0033.2533.5034.5034.0035.0035.2535.7536.25A
Deepwater Sour (Onshore) (30°)30.2529.5030.2530.7531.0032.0031.2532.2532.5033.2533.50F,G
East Texas34.2433.4934.3134.6634.8935.8535.2136.1736.5037.0937.53none
Eugene Island Sour (Onshore)32.5031.7532.7533.0033.2534.2533.5034.5034.7535.5036.00A
Heavy Louisiana Sweet (Onshore)34.0033.2534.0034.5034.7535.7535.0036.0036.2537.0037.25A
Light Louisiana Sweet (Onshore)34.0033.2534.0034.5034.5035.5035.0036.0036.2536.7537.25A
New Mexico Intermediate34.6233.8734.6935.0435.2736.2335.5936.5536.8837.4737.91none
New Mexico Sour (34°)33.3332.5833.4033.7533.9834.9434.3035.2635.5936.1836.62none
North Texas Sweet33.5032.7533.5733.9234.1535.1134.4735.4335.7636.3536.79none
Oklahoma Sour33.3332.5833.4033.7533.9834.9434.3035.2635.5936.1836.62none
Oklahoma Sweet34.7333.9834.8035.1535.3836.3435.7036.6636.9937.5838.02none
South Texas Light Sweet33.2932.5433.3633.7133.9434.9034.2635.2235.5536.1436.58none
Southwest Wyoming Sweet34.3133.5634.3834.7334.9635.9235.2836.2436.5737.1637.60E
Uinta Basin Black Wax30.2629.5130.3330.6830.9131.8731.2332.1932.5233.1133.55B
West Texas Intermediate34.0733.3234.1434.4934.7235.6835.0436.0036.3336.9237.36none
West Texas Sour (34°)32.8732.1232.9433.2933.5234.4833.8434.8035.1335.7236.16none
Western Colorado34.3033.5534.3734.7234.9535.9135.2736.2336.5637.1537.59B
East of the RockiesE34
02/18
E35
02/19
E36
02/20
E37
02/21
E38
02/24
E39
02/25
E40
02/26
E41
02/27
E42
02/28
 Gvty
Adj*
Mthly
Avg
Altamont Yellow Wax36.9637.1636.7935.5836.4836.0637.7037.2036.60 35.6339
Bonito Sour (Onshore)36.5036.5036.2535.0036.0035.5037.2536.7536.00 35.0804
Deepwater Sour (Onshore) (30°)33.7534.0033.5032.2533.2532.7534.5034.0033.50 32.4018
East Texas37.6937.8937.5236.3137.2136.7938.4337.9337.33 36.3639
Eugene Island Sour (Onshore)36.0036.2536.0034.7535.5035.2536.7536.2535.75 34.7411
Heavy Louisiana Sweet (Onshore)37.5037.7537.2536.0037.0036.5038.2537.7537.00 36.1429
Light Louisiana Sweet (Onshore)37.5037.5037.2536.0037.0036.5038.2537.7537.00 36.0893
New Mexico Intermediate38.0738.2737.9036.6937.5937.1738.8138.3137.71 36.7439
New Mexico Sour (34°)36.7836.9836.6135.4036.3035.8837.5237.0236.42 35.4539
North Texas Sweet36.9537.1536.7835.5736.4736.0537.6937.1936.59 35.6239
Oklahoma Sour36.7836.9836.6135.4036.3035.8837.5237.0236.42 35.4539
Oklahoma Sweet38.1838.3838.0136.8037.7037.2838.9238.4237.82 36.8539
South Texas Light Sweet36.7436.9436.5735.3636.2635.8437.4836.9836.38 35.4139
Southwest Wyoming Sweet37.7637.9637.5936.3837.2836.8638.5038.0037.40 36.4339
Uinta Basin Black Wax33.7133.9133.5432.3333.2332.8134.4533.9533.35 32.3839
West Texas Intermediate37.5237.7237.3536.1437.0436.6238.2637.7637.16 36.1939
West Texas Sour (34°)36.3236.5236.1534.9435.8435.4237.0636.5635.96 34.9939
Western Colorado37.7537.9537.5836.3737.2736.8538.4937.9937.39 36.4239
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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