Chevron
North America Crude Oil Marketing - March 2003 Summary California Bulletins 03-CA34 to 03-CA53, 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
CaliforniaAPICA34
03/03
CA35
03/04
CA36
03/05
CA37
03/07
CA38
03/10
CA39
03/11
CA40
03/12
CA41
03/13
CA42
03/14
CA43
03/17
CA44
03/18
Asphalto34.7535.7535.5036.2536.0035.5036.5034.7534.2533.7530.50
Belridge Hvy (under 28°)30.9531.9531.7032.4532.2031.7032.7030.9530.4529.9526.70
Belridge Lt (over 28°)34.5035.5035.2536.0035.7535.2536.2534.5034.0033.5030.25
Buena Vista Hills33.4534.4534.2034.9534.7034.2035.2033.4532.9532.4529.20
Cal Canal35.6036.6036.3537.1036.8536.3537.3535.6035.1034.6031.35
Coalinga31.2532.2532.0032.7532.5032.0033.0031.2530.7530.2527.00
Cymric30.5531.5531.3032.0531.8031.3032.3030.5530.0529.5526.30
Huntington Beach31.8532.8532.6033.3533.1032.6033.6031.8531.3530.8527.60
Kern River30.7531.7531.5032.2532.0031.5032.5030.7530.2529.7526.50
Kettleman Hills35.0036.0035.7536.5036.2535.7536.7535.0034.5034.0030.75
Lost Hills34.4535.4535.2035.9535.7035.2036.2034.4533.9533.4530.20
McKittrick30.7531.7531.5032.2532.0031.5032.5030.7530.2529.7526.50
Midway Sunset30.7531.7531.5032.2532.0031.5032.5030.7530.2529.7526.50
Montebello32.8533.8533.6034.3534.1033.6034.6032.8532.3531.8528.60
Pt Arguello (onshore)27.4028.4028.1528.9028.6528.1529.1527.4026.9026.4023.15
Railroad Gap34.6035.6035.3536.1035.8535.3536.3534.6034.1033.6030.35
San Ardo29.2030.2029.9530.7030.4529.9530.9529.2028.7028.2024.95
Seal Beach33.9534.9534.7035.4535.2034.7035.7033.9533.4532.9529.70
Gravity AdjustmentPrice Adjustment $/bbl/Tenth°API
Above 40.0°API0.00000.00000.00000.00000.00000.00000.00000.00000.00000.00000.0000
34.0° to 40.0°API0.01000.01000.01000.01000.01000.01000.01000.01000.01000.01000.0100
Below 34.0°API0.02000.02000.02000.02000.02000.02000.02000.02000.02000.02000.0200
CaliforniaAPICA45
03/19
CA46
03/20
CA47
03/21
CA48
03/24
CA49
03/25
CA50
03/26
CA51
03/27
CA52
03/28
CA53
03/31
 Mthly
Avg
Asphalto28.7527.5026.2526.7526.0026.2528.0027.7528.00 31.7500
Belridge Hvy (under 28°)24.9523.7022.4522.9522.2022.4524.2023.9524.20 27.9500
Belridge Lt (over 28°)28.5027.2526.0026.5025.7526.0027.7527.5027.75 31.5000
Buena Vista Hills27.4526.2024.9525.4524.7024.9526.7026.4526.70 30.4500
Cal Canal29.6028.3527.1027.6026.8527.1028.8528.6028.85 32.6000
Coalinga25.2524.0022.7523.2522.5022.7524.5024.2524.50 28.2500
Cymric24.5523.3022.0522.5521.8022.0523.8023.5523.80 27.5500
Huntington Beach25.8524.6023.3523.8523.1023.3525.1024.8525.10 28.8500
Kern River24.7523.5022.2522.7522.0022.2524.0023.7524.00 27.7500
Kettleman Hills29.0027.7526.5027.0026.2526.5028.2528.0028.25 32.0000
Lost Hills28.4527.2025.9526.4525.7025.9527.7027.4527.70 31.4500
McKittrick24.7523.5022.2522.7522.0022.2524.0023.7524.00 27.7500
Midway Sunset24.7523.5022.2522.7522.0022.2524.0023.7524.00 27.7500
Montebello26.8525.6024.3524.8524.1024.3526.1025.8526.10 29.8500
Pt Arguello (onshore)21.4020.1518.9019.4018.6518.9020.6520.4020.65 24.4000
Railroad Gap28.6027.3526.1026.6025.8526.1027.8527.6027.85 31.6000
San Ardo23.2021.9520.7021.2020.4520.7022.4522.2022.45 26.2000
Seal Beach27.9526.7025.4525.9525.2025.4527.2026.9527.20 30.9500
Gravity AdjustmentPrice Adjustment $/bbl/Tenth°API
Above 40.0°API0.00000.00000.00000.00000.00000.00000.00000.00000.0000 0.0000
34.0° to 40.0°API0.01000.01000.01000.01000.01000.01000.01000.01000.0100 0.0100
Below 34.0°API0.02000.02000.02000.02000.02000.02000.02000.02000.0200 0.0200
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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