Chevron
North America Crude Oil Marketing - March 2004 Summary California Bulletins 04-CA29 to 04-CA49, 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
CaliforniaAPICA29
03/01
CA30
03/02
CA31
03/03
CA32
03/04
CA33
03/05
CA34
03/08
CA35
03/09
CA36
03/10
CA37
03/11
CA38
03/12
CA39
03/15
Asphalto35.1534.9034.1534.9035.7535.0034.7534.5035.0034.7535.75
Belridge Hvy (under 28°)30.9530.7029.9530.7031.2530.5030.2530.0030.5030.2531.25
Belridge Lt (over 28°)34.8534.6033.8534.6035.4534.7034.4534.2034.7034.4535.45
Buena Vista Hills33.7033.4532.7033.4534.2033.4533.2032.9533.4533.2034.20
Cal Canal36.0035.7535.0035.7536.6535.9035.6535.4035.9035.6536.65
Coalinga31.2531.0030.2531.0031.5530.8030.5530.3030.8030.5531.55
Cymric30.5030.2529.5030.2530.7029.9529.7029.4529.9529.7030.70
Huntington Beach31.9531.7030.9531.7032.3031.5531.3031.0531.5531.3032.30
Kern River30.7530.5029.7530.5031.0030.2530.0029.7530.2530.0031.00
Kettleman Hills35.4035.1534.4035.1536.0535.3035.0534.8035.3035.0536.05
Lost Hills34.7534.5033.7534.5035.3534.6034.3534.1034.6034.3535.35
McKittrick30.7530.5029.7530.5031.0030.2530.0029.7530.2530.0031.00
Midway Sunset30.7530.5029.7530.5031.0030.2530.0029.7530.2530.0031.00
Montebello33.0532.8032.0532.8033.4532.7032.4532.2032.7032.4533.45
Pt Arguello (onshore)27.2527.0026.2527.0027.5026.7526.5026.2526.7526.5027.50
Railroad Gap35.0034.7534.0034.7535.6034.8534.6034.3534.8534.6035.60
San Ardo29.1028.8528.1028.8529.3028.5528.3028.0528.5528.3029.30
Seal Beach34.2534.0033.2534.0034.8034.0533.8033.5534.0533.8034.80
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°API0.02000.02000.02000.02000.02500.02500.02500.02500.02500.02500.0250
CaliforniaAPICA40
03/17
CA41
03/18
CA42
03/22
CA43
03/23
CA44
03/24
CA45
03/25
CA46
03/26
CA47
03/29
CA48
03/30
CA49
03/31
Mthly
Avg
Asphalto36.5036.2535.5036.0035.5033.7534.0033.7534.5034.0035.0919
Belridge Hvy (under 28°)32.0031.7531.0031.5031.0029.2529.5029.2530.0029.5030.6306
Belridge Lt (over 28°)36.2035.9535.2035.7035.2033.4533.7033.4534.2033.7034.7919
Buena Vista Hills34.9534.7033.9534.4533.9532.2032.4532.2032.9532.4533.5548
Cal Canal37.4037.1536.4036.9036.4034.6534.9034.6535.4034.9035.9855
Coalinga32.3032.0531.3031.8031.3029.5529.8029.5530.3029.8030.9306
Cymric31.4531.2030.4530.9530.4528.7028.9528.7029.4528.9530.0935
Huntington Beach33.0532.8032.0532.5532.0530.3030.5530.3031.0530.5531.6742
Kern River31.7531.5030.7531.2530.7529.0029.2529.0029.7529.2530.3871
Kettleman Hills36.8036.5535.8036.3035.8034.0534.3034.0534.8034.3035.3855
Lost Hills36.1035.8535.1035.6035.1033.3533.6033.3534.1033.6034.6919
McKittrick31.7531.5030.7531.2530.7529.0029.2529.0029.7529.2530.3871
Midway Sunset31.7531.5030.7531.2530.7529.0029.2529.0029.7529.2530.3871
Montebello34.2033.9533.2033.7033.2031.4531.7031.4532.2031.7032.8177
Pt Arguello (onshore)28.2528.0027.2527.7527.2525.5025.7525.5026.2525.7526.8871
Railroad Gap36.3536.1035.3535.8535.3533.6033.8533.6034.3533.8534.9419
San Ardo30.0529.8029.0529.5529.0527.3027.5527.3028.0527.5528.6935
Seal Beach35.5535.3034.5535.0534.5532.8033.0532.8033.5533.0534.1484
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°API0.02500.02500.02500.02500.02500.02500.02500.02500.02500.02500.0244
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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