Chevron
North America Crude Oil Marketing - May 2006 Summary California Bulletins 06-CA78 to 06-CA99, 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
CaliforniaAPICA78
05/01
CA79
05/02
CA80
05/03
CA81
05/04
CA82
05/05
CA83
05/08
CA84
05/09
CA85
05/10
CA86
05/11
CA87
05/12
CA88
05/15
CA89
05/16
Buena Vista Hills66.8567.8065.5063.1563.4063.0064.0065.4566.6565.4062.8062.95
Coalinga62.3563.3061.0058.6558.9058.5059.5060.9562.1560.9058.3058.45
Huntington Beach63.6064.5562.2559.9060.1559.7560.7562.2063.4062.1559.5559.70
Kettleman Hills69.9570.9068.6066.2566.5066.1067.1068.5569.7568.5065.9066.05
Lost Hills68.6069.5567.2564.9065.1564.7565.7567.2068.4067.1564.5564.70
McKittrick61.6562.6060.3057.9558.2057.8058.8060.2561.4560.2057.6057.75
Midway Sunset61.6562.6060.3057.9558.2057.8058.8060.2561.4560.2057.6057.75
Pt Arguello (onshore)58.8059.7557.4555.1055.3554.9555.9557.4058.6057.3554.7554.90
San Ardo58.7059.6557.3555.0055.2554.8555.8557.3058.5057.2554.6554.80
Seal Beach67.7568.7066.4064.0564.3063.9064.9066.3567.5566.3063.7063.85
Gravity AdjustmentPrice Adjustment $/bbl/Tenth°API
Above 40.0°API0.00000.00000.00000.00000.00000.00000.00000.00000.00000.00000.00000.0000
34.0° to 40.0°API0.01000.01000.01000.01000.01000.01000.01000.01000.01000.01000.01000.0100
Below 34.0°API0.03750.03750.03750.03750.03750.03750.03750.03750.03750.03750.03750.0375
CaliforniaAPICA90
05/17
CA91
05/18
CA92
05/19
CA93
05/22
CA94
05/23
CA95
05/24
CA96
05/25
CA97
05/26
CA98
05/30
CA99
05/31
 Mthly
Avg
Buena Vista Hills62.1562.9061.9562.8065.0563.2564.7064.8565.6064.90 64.2306
Coalinga57.6558.4057.4558.3060.5558.7560.2060.3561.1060.40 59.7306
Huntington Beach58.9059.6558.7059.5561.8060.0061.4561.6062.3561.65 60.9806
Kettleman Hills65.2566.0065.0565.9068.1566.3567.8067.9568.7068.00 67.3306
Lost Hills63.9064.6563.7064.5566.8065.0066.4566.6067.3566.65 65.9806
McKittrick56.9557.7056.7557.6059.8558.0559.5059.6560.4059.70 59.0306
Midway Sunset56.9557.7056.7557.6059.8558.0559.5059.6560.4059.70 59.0306
Pt Arguello (onshore)54.1054.8553.9054.7557.0055.2056.6556.8057.5556.85 56.1806
San Ardo54.0054.7553.8054.6556.9055.1056.5556.7057.4556.75 56.0806
Seal Beach63.0563.8062.8563.7065.9564.1565.6065.7566.5065.80 65.1306
Gravity AdjustmentPrice Adjustment $/bbl/Tenth°API
Above 40.0°API0.00000.00000.00000.00000.00000.00000.00000.00000.00000.0000 0.0000
34.0° to 40.0°API0.01000.01000.01000.01000.01000.01000.01000.01000.01000.0100 0.0100
Below 34.0°API0.03750.03750.03750.03750.03750.03750.03750.03750.03750.0375 0.0375
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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