Chevron
North America Crude Oil Marketing - May 2003 Summary East of the Rockies Bulletins 03-E86 to 03-E106, 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 RockiesE86
05/01
E87
05/02
E88
05/05
E89
05/06
E90
05/07
E91
05/08
E92
05/09
E93
05/12
E94
05/13
E95
05/14
E96
05/15
Gvty
Adj*
Altamont Yellow Wax26.0325.6726.4925.7226.2326.9827.7227.3528.5029.1728.74B
Bonito Sour (Onshore)24.2524.0024.7524.0024.5025.2526.0025.5026.7527.5027.00A
Deepwater Sour (Onshore) (30°)21.5021.0021.7521.0021.5022.2523.0022.7523.7524.5024.00F,G
East Texas27.2726.9127.7326.9627.4728.2228.9628.5929.7430.4129.98none
Eugene Island Sour (Onshore)23.5023.2524.0023.2523.7524.5025.2525.0026.0026.7526.25A
Heavy Louisiana Sweet (Onshore)24.7524.2525.2524.5025.0025.7526.5026.0027.2527.7527.50A
Light Louisiana Sweet (Onshore)25.5025.2526.0025.2525.7526.5027.2526.7528.0028.7528.25A
New Mexico Intermediate27.5927.2328.0527.2827.7928.5429.2828.9130.0630.7330.30none
New Mexico Sour (34°)24.4924.1324.9524.1824.6925.4426.1825.8126.9627.6327.20none
North Texas Sweet26.5326.1726.9926.2226.7327.4828.2227.8529.0029.6729.24none
Oklahoma Sour24.4924.1324.9524.1824.6925.4426.1825.8126.9627.6327.20none
Oklahoma Sweet27.7627.4028.2227.4527.9628.7129.4529.0830.2330.9030.47none
South Texas Light Sweet26.2625.9026.7225.9526.4627.2127.9527.5828.7329.4028.97none
Southwest Wyoming Sweet26.8326.4727.2926.5227.0327.7828.5228.1529.3029.9729.54E
Uinta Basin Black Wax22.7822.4223.2422.4722.9823.7324.4724.1025.2525.9225.49B
West Texas Intermediate27.0426.6827.5026.7327.2427.9928.7328.3629.5130.1829.75none
West Texas Sour (34°)24.0323.6724.4923.7224.2324.9825.7225.3526.5027.1726.74none
Western Colorado26.8226.4627.2826.5127.0227.7728.5128.1429.2929.9629.53B
East of the RockiesE97
05/16
E98
05/19
E99
05/20
E100
05/21
E101
05/22
E102
05/23
E103
05/27
E104
05/28
E105
05/29
E106
05/30
Gvty
Adj*
Mthly
Avg
Altamont Yellow Wax29.1428.8329.2829.0328.8529.1629.3528.5829.1029.5628.1155
Bonito Sour (Onshore)27.5027.0027.5027.2527.0027.5027.5026.7527.2527.7526.3790
Deepwater Sour (Onshore) (30°)24.5024.2524.7524.5024.2524.5024.7524.0024.5025.0023.4677
East Texas30.3830.0730.5230.2730.0930.4030.5929.8230.3430.8029.3555
Eugene Island Sour (Onshore)26.7526.2526.7526.5026.5026.7527.0026.0026.7527.0025.6613
Heavy Louisiana Sweet (Onshore)27.7527.5028.0027.7527.5027.7528.0027.2527.7528.2526.7903
Light Louisiana Sweet (Onshore)28.7528.2528.7528.5028.2528.7528.7528.0028.5029.0027.6290
New Mexico Intermediate30.7030.3930.8430.5930.4130.7230.9130.1430.6631.1229.6755
New Mexico Sour (34°)27.6027.2927.7427.4927.3127.6227.8127.0427.5628.0226.5755
North Texas Sweet29.6429.3329.7829.5329.3529.6629.8529.0829.6030.0628.6155
Oklahoma Sour27.6027.2927.7427.4927.3127.6227.8127.0427.5628.0226.5755
Oklahoma Sweet30.8730.5631.0130.7630.5830.8931.0830.3130.8331.2929.8455
South Texas Light Sweet29.3729.0629.5129.2629.0829.3929.5828.8129.3329.7928.3455
Southwest Wyoming Sweet29.9429.6330.0829.8329.6529.9630.1529.3829.9030.3628.9155
Uinta Basin Black Wax25.8925.5826.0325.7825.6025.9126.1025.3325.8526.3124.8655
West Texas Intermediate30.1529.8430.2930.0429.8630.1730.3629.5930.1130.5729.1255
West Texas Sour (34°)27.1426.8327.2827.0326.8527.1627.3526.5827.1027.5626.1155
Western Colorado29.9329.6230.0729.8229.6429.9530.1429.3729.8930.3528.9055
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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