Chevron
North America Crude Oil Marketing - March 2003 Summary East of the Rockies Bulletins 03-E43 to 03-E64, 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 RockiesE43
03/01
E44
03/03
E45
03/04
E46
03/05
E47
03/06
E48
03/07
E49
03/10
E50
03/11
E51
03/12
E52
03/13
E53
03/14
E54
03/17
Gvty
Adj*
Altamont Yellow Wax36.6035.8836.8936.6937.0037.7837.2736.7237.8336.0135.3834.93B
Bonito Sour (Onshore)35.0034.2535.2535.0035.5036.2535.7535.2536.2534.5033.7533.25A
Deepwater Sour (Onshore) (30°)31.5030.7531.7531.7532.0032.7532.2531.7532.7531.0030.2530.00F,G
East Texas37.4736.7537.7637.5637.8738.6538.1437.5938.7036.8836.2535.80none
Eugene Island Sour (Onshore)34.7534.0035.0034.7535.0035.7535.2534.7536.0034.0033.5033.00A
Heavy Louisiana Sweet (Onshore)36.5035.7536.7536.5036.7537.5037.0036.5037.7535.7535.2534.75A
Light Louisiana Sweet (Onshore)36.5035.7536.7536.7537.0037.7537.2536.7537.7536.0035.2535.00A
New Mexico Intermediate37.7136.9938.0037.8038.1138.8938.3837.8338.9437.1236.4936.04none
New Mexico Sour (34°)33.8533.1334.1433.9434.2535.0334.5233.9735.0833.2632.6332.18none
North Texas Sweet36.7336.0137.0236.8237.1337.9137.4036.8537.9636.1435.5135.06none
Oklahoma Sour33.8533.1334.1433.9434.2535.0334.5233.9735.0833.2632.6332.18none
Oklahoma Sweet37.9637.2438.2538.0538.3639.1438.6338.0839.1937.3736.7436.29none
South Texas Light Sweet36.3835.6636.6736.4736.7837.5637.0536.5037.6135.7935.1634.71none
Southwest Wyoming Sweet37.4036.6837.6937.4937.8038.5838.0737.5238.6336.8136.1835.73E
Uinta Basin Black Wax33.3532.6333.6433.4433.7534.5334.0233.4734.5832.7632.1331.68B
West Texas Intermediate37.1636.4437.4537.2537.5638.3437.8337.2838.3936.5735.9435.49none
West Texas Sour (34°)33.3932.6733.6833.4833.7934.5734.0633.5134.6232.8032.1731.72none
Western Colorado37.3936.6737.6837.4837.7938.5738.0637.5138.6236.8036.1735.72B
East of the RockiesE55
03/18
E56
03/19
E57
03/20
E58
03/21
E59
03/24
E60
03/25
E61
03/26
E62
03/27
E63
03/28
E64
03/31
 Gvty
Adj*
Mthly
Avg
Altamont Yellow Wax31.6729.8828.6126.9128.6627.9728.6330.3730.1631.04 33.2239
Bonito Sour (Onshore)30.0028.2527.0025.2527.0026.5027.0028.7528.5029.50 31.6210
Deepwater Sour (Onshore) (30°)26.7524.7523.5021.7523.5023.0023.5025.2525.0026.00 28.1452
East Texas32.5430.7529.4827.7829.5328.8429.5031.2431.0331.91 34.0939
Eugene Island Sour (Onshore)29.7528.0026.7525.0026.7526.0026.7528.5028.2529.00 31.2984
Heavy Louisiana Sweet (Onshore)31.5029.7528.5026.7528.5027.7528.5030.2530.0031.00 33.0565
Light Louisiana Sweet (Onshore)31.5029.7528.5026.7528.5028.0028.5030.2530.0031.00 33.1371
New Mexico Intermediate32.7830.9929.7228.0229.7729.0829.7431.4831.2732.15 34.3339
New Mexico Sour (34°)28.9227.1325.8624.1625.9125.2225.8827.6227.4128.29 30.4739
North Texas Sweet31.8030.0128.7427.0428.7928.1028.7630.5030.2931.17 33.3539
Oklahoma Sour28.9227.1325.8624.1625.9125.2225.8827.6227.4128.29 30.4739
Oklahoma Sweet33.0331.2429.9728.2730.0229.3329.9931.7331.5232.40 34.5839
South Texas Light Sweet31.4529.6628.3926.6928.4427.7528.4130.1529.9430.82 33.0039
Southwest Wyoming Sweet32.4730.6829.4127.7129.4628.7729.4331.1730.9631.84 34.0239
Uinta Basin Black Wax28.4226.6325.3623.6625.4124.7225.3827.1226.9127.79 29.9739
West Texas Intermediate32.2330.4429.1727.4729.2228.5329.1930.9330.7231.60 33.7839
West Texas Sour (34°)28.4626.6725.4023.7025.4524.7625.4227.1626.9527.83 30.0139
Western Colorado32.4630.6729.4027.7029.4528.7629.4231.1630.9531.83 34.0139
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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