Chevron
North America Crude Oil Marketing - March 2004 Summary East of the Rockies Bulletins 04-E41 to 04-E63, 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 RockiesE41
03/01
E42
03/02
E43
03/03
E44
03/04
E45
03/05
E46
03/08
E47
03/09
E48
03/10
E49
03/11
E50
03/12
E51
03/15
E52
03/16
Gvty
Adj*
Altamont Yellow Wax36.8636.6635.8036.6437.2636.5736.2836.1036.7836.1937.4437.48B
Bonito Sour (Onshore)34.7534.5033.7534.5035.2534.5034.2534.0034.7534.0035.2535.50A
Deepwater Sour (Onshore) (30°)31.2531.0030.2531.0031.7531.0030.7530.5031.2530.5031.7531.75F,G
East Texas37.5837.3836.5237.3637.9837.2937.0036.8237.5036.9138.1638.20none
Eugene Island Sour (Onshore)34.2534.0033.2534.0034.7534.0033.7533.5034.2533.7535.0035.00A
Heavy Louisiana Sweet (Onshore)36.0035.7534.7535.7536.2535.7535.2535.2535.7535.2536.5036.50A
Light Louisiana Sweet (Onshore)36.5036.2535.5036.2537.0036.2536.0035.7536.5035.7537.0037.25A
New Mexico Intermediate37.3637.1636.3037.1437.7637.0736.7836.6037.2836.6937.9437.98none
New Mexico Sour (34°)33.9333.7332.8733.7134.3333.6433.3533.1733.8533.2634.5134.55none
North Texas Sweet36.8436.6435.7836.6237.2436.5536.2636.0836.7636.1737.4237.46none
Oklahoma Sour33.9333.7332.8733.7134.3333.6433.3533.1733.8533.2634.5134.55none
Oklahoma Sweet38.0737.8737.0137.8538.4737.7837.4937.3137.9937.4038.6538.69none
South Texas Light Sweet36.0335.8334.9735.8136.4335.7435.4535.2735.9535.3636.6136.65none
Southwest Wyoming Sweet37.6637.4636.6037.4438.0637.3737.0836.9037.5836.9938.2438.28E
Uinta Basin Black Wax34.1133.9133.0533.8934.5133.8233.5333.3534.0333.4434.6934.73B
West Texas Intermediate36.8236.6235.7636.6037.2236.5336.2436.0636.7436.1537.4037.44none
West Texas Sour (34°)33.3833.1832.3233.1633.7833.0932.8032.6233.3032.7133.9634.00none
Western Colorado37.6537.4536.5937.4338.0537.3637.0736.8937.5736.9838.2338.27B
East of the RockiesE53
03/17
E54
03/18
E55
03/19
E56
03/22
E57
03/23
E58
03/24
E59
03/25
E60
03/26
E61
03/29
E62
03/30
E63
03/31
Gvty
Adj*
Mthly
Avg
Altamont Yellow Wax38.1837.9338.0837.1137.4537.0135.5135.6535.4536.2535.7636.7355
Bonito Sour (Onshore)36.0035.7536.0035.0035.2535.0033.5033.5033.2534.2533.7534.6371
Deepwater Sour (Onshore) (30°)32.5032.2532.5031.5031.7531.5030.0030.0029.7530.7530.2531.1290
East Texas38.9038.6538.8037.8338.1737.7336.2336.3736.1736.9736.4837.4555
Eugene Island Sour (Onshore)35.5035.2535.5034.5035.0034.5033.0033.0033.0033.7533.2534.1855
Heavy Louisiana Sweet (Onshore)37.2537.0037.2536.2536.5036.0034.5034.7534.5035.2534.7535.7984
Light Louisiana Sweet (Onshore)37.7537.5037.7536.7537.0036.7535.2535.2535.0036.0035.5036.3871
New Mexico Intermediate38.6838.4338.5837.6137.9537.5136.0136.1535.9536.7536.2637.2355
New Mexico Sour (34°)35.2535.0035.1534.1834.5234.0832.5832.7232.5233.3232.8333.8055
North Texas Sweet38.1637.9138.0637.0937.4336.9935.4935.6335.4336.2335.7436.7155
Oklahoma Sour35.2535.0035.1534.1834.5234.0832.5832.7232.5233.3232.8333.8055
Oklahoma Sweet39.3939.1439.2938.3238.6638.2236.7236.8636.6637.4636.9737.9455
South Texas Light Sweet37.3537.1037.2536.2836.6236.1834.6834.8234.6235.4234.9335.9055
Southwest Wyoming Sweet38.9838.7338.8837.9138.2537.8136.3136.4536.2537.0536.5637.5355
Uinta Basin Black Wax35.4335.1835.3334.3634.7034.2632.7632.9032.7033.5033.0133.9855
West Texas Intermediate38.1437.8938.0437.0737.4136.9735.4735.6135.4136.2135.7236.6955
West Texas Sour (34°)34.7034.4534.6033.6333.9733.5332.0332.1731.9732.7732.2833.2555
Western Colorado38.9738.7238.8737.9038.2437.8036.3036.4436.2437.0436.5537.5255
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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