Chevron
North America Crude Oil Marketing - May 2004 Summary California Bulletins 04-CA66 to 04-CA84, 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
CaliforniaAPICA66
05/03
CA67
05/04
CA68
05/05
CA69
05/06
CA70
05/07
CA71
05/10
CA72
05/11
CA73
05/12
CA74
05/13
CA75
05/14
Asphalto36.9037.6538.1537.9038.4037.4038.4039.1539.6539.90
Belridge Hvy (under 28°)32.0032.7533.2533.0033.5032.5033.5034.2534.7535.00
Belridge Lt (over 28°)36.5537.3037.8037.5538.0537.0538.0538.8039.3039.55
Buena Vista Hills35.2035.9536.4536.2036.7035.7036.7037.4537.9538.20
Cal Canal37.8038.5539.0538.8039.3038.3039.3040.0540.5540.80
Coalinga32.3033.0533.5533.3033.8032.8033.8034.5535.0535.30
Cymric31.4532.2032.7032.4532.9531.9532.9533.7034.2034.45
Huntington Beach33.1033.8534.3534.1034.6033.6034.6035.3535.8536.10
Kern River31.7532.5033.0032.7533.2532.2533.2534.0034.5034.75
Kettleman Hills37.2037.9538.4538.2038.7037.7038.7039.4539.9540.20
Lost Hills36.4037.1537.6537.4037.9036.9037.9038.6539.1539.40
McKittrick31.7532.5033.0032.7533.2532.2533.2534.0034.5034.75
Midway Sunset31.7532.5033.0032.7533.2532.2533.2534.0034.5034.75
Montebello34.4035.1535.6535.4035.9034.9035.9036.6537.1537.40
Pt Arguello (onshore)28.2529.0029.5029.2529.7528.7529.7530.5031.0031.25
Railroad Gap36.7037.4537.9537.7038.2037.2038.2038.9539.4539.70
San Ardo29.9530.7031.2030.9531.4530.4531.4532.2032.7032.95
Seal Beach35.8036.5537.0536.8037.3036.3037.3038.0538.5538.80
Gravity AdjustmentPrice Adjustment $/bbl/Tenth°API
Above 40.0°API0.00000.00000.00000.00000.00000.00000.00000.00000.00000.0000
34.0° to 40.0°API0.01000.01000.01000.01000.01000.01000.01000.01000.01000.0100
Below 34.0°API0.02500.02500.02500.02500.02500.02500.02500.02500.02500.0250
CaliforniaAPICA76
05/18
CA77
05/19
CA78
05/20
CA79
05/21
CA80
05/24
CA81
05/25
CA82
05/26
CA83
05/27
CA84
05/28
Mthly
Avg
Asphalto39.1540.1539.4038.6540.1539.6539.1538.1538.6538.6565
Belridge Hvy (under 28°)34.2535.2534.5033.7535.2534.7534.2533.2533.7533.7823
Belridge Lt (over 28°)38.8039.8039.0538.3039.8039.3038.8037.8038.3038.3097
Buena Vista Hills37.4538.4537.7036.9538.4537.9537.4536.4536.9536.9661
Cal Canal40.0541.0540.3039.5541.0540.5540.0539.0539.5539.5565
Coalinga34.5535.5534.8034.0535.5535.0534.5533.5534.0534.0823
Cymric33.7034.7033.9533.2034.7034.2033.7032.7033.2033.2323
Huntington Beach35.3536.3535.6034.8536.3535.8535.3534.3534.8534.8790
Kern River34.0035.0034.2533.5035.0034.5034.0033.0033.5033.5323
Kettleman Hills39.4540.4539.7038.9540.4539.9539.4538.4538.9538.9565
Lost Hills38.6539.6538.9038.1539.6539.1538.6537.6538.1538.1629
McKittrick34.0035.0034.2533.5035.0034.5034.0033.0033.5033.5323
Midway Sunset34.0035.0034.2533.5035.0034.5034.0033.0033.5033.5323
Montebello36.6537.6536.9036.1537.6537.1536.6535.6536.1536.1694
Pt Arguello (onshore)30.5031.5030.7530.0031.5031.0030.5029.5030.0030.0323
Railroad Gap38.9539.9539.2038.4539.9539.4538.9537.9538.4538.4597
San Ardo32.2033.2032.4531.7033.2032.7032.2031.2031.7031.7387
Seal Beach38.0539.0538.3037.5539.0538.5538.0537.0537.5537.5661
Gravity AdjustmentPrice Adjustment $/bbl/Tenth°API
Above 40.0°API0.00000.00000.00000.00000.00000.00000.00000.00000.00000.0000
34.0° to 40.0°API0.01000.01000.01000.01000.01000.01000.01000.01000.01000.0100
Below 34.0°API0.02500.02500.02500.02500.02500.02500.02500.02500.02500.0250
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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