Chevron
North America Crude Oil Marketing - May 2005 Summary California Bulletins 05-CA67 to 05-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
CaliforniaAPICA67
05/02
CA68
05/03
CA69
05/04
CA70
05/05
CA71
05/06
CA72
05/09
CA73
05/11
CA74
05/12
CA75
05/13
CA76
05/17
Buena Vista Hills43.0041.6042.2542.9543.1044.1542.5540.6540.8541.25
Coalinga38.5537.1537.8038.5038.6539.7038.1036.2036.4036.80
Huntington Beach39.8038.4039.0539.7539.9040.9539.3537.4537.6538.05
Kettleman Hills46.0044.6045.2545.9546.1047.1545.5543.6543.8544.25
Lost Hills44.7043.3043.9544.6544.8045.8544.2542.3542.5542.95
McKittrick37.9036.5037.1537.8538.0039.0537.4535.5535.7536.15
Midway Sunset37.9036.5037.1537.8538.0039.0537.4535.5535.7536.15
Pt Arguello (onshore)34.2032.8033.4534.1534.3035.4033.8031.9032.1032.50
San Ardo35.5034.1034.7535.4535.6036.7035.1033.2033.4033.80
Seal Beach43.8542.4543.1043.8043.9545.0043.4041.5041.7042.10
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°API0.03500.03500.03500.03500.03500.03500.03500.03500.03500.0350
CaliforniaAPICA77
05/18
CA78
05/19
CA79
05/20
CA80
05/23
CA81
05/24
CA82
05/25
CA83
05/27
CA84
05/31
 Mthly
Avg
Buena Vista Hills39.5039.1539.1040.5041.6543.1044.2044.40 42.0177
Coalinga35.0534.7034.6536.0537.2038.6539.7539.95 37.5677
Huntington Beach36.3035.9535.9037.3038.4539.9041.0041.20 38.8177
Kettleman Hills42.5042.1542.1543.5544.7046.1547.2547.45 45.0371
Lost Hills41.2040.8540.8542.2543.4044.8545.9546.15 43.7371
McKittrick34.4034.0533.9535.3536.5037.9539.0539.25 36.8984
Midway Sunset34.4034.0533.9535.3536.5037.9539.0539.25 36.8984
Pt Arguello (onshore)30.7530.4030.3531.7532.9034.3535.4535.65 33.2548
San Ardo32.0531.7031.6033.0034.1535.6036.7036.90 34.5355
Seal Beach40.3540.0040.0041.4042.5544.0045.1045.30 42.8871
Gravity AdjustmentPrice Adjustment $/bbl/Tenth°API
Above 40.0°API0.00000.00000.00000.00000.00000.00000.00000.0000 0.0000
34.0° to 40.0°API0.01000.01000.01000.01000.01000.01000.01000.0100 0.0100
Below 34.0°API0.03500.03500.04000.04000.04000.04000.04000.0400 0.0369
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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