Chevron
North America Crude Oil Marketing - December 2007 Summary California Bulletins 07-CA228 to 07-CA247, 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
CaliforniaAPICA228
12/03
CA229
12/04
CA230
12/05
CA231
12/06
CA232
12/07
CA233
12/10
CA234
12/11
CA235
12/12
CA236
12/13
CA237
12/14
CA238
12/17
Buena Vista Hills83.4082.4581.6084.3582.4082.0584.2088.5586.4585.5084.90
Coalinga78.0577.1076.2579.0077.0576.7078.8583.2081.1080.1579.55
Huntington Beach79.6078.6577.8080.5578.6078.2580.4084.7582.6581.7081.10
Kettleman Hills86.9085.9585.1087.8585.9085.5587.7092.0589.9589.0088.40
Lost Hills85.1584.2083.3586.1084.1583.8085.9590.3088.2087.2586.65
McKittrick77.3076.3575.5078.2576.3075.9578.1082.4580.3579.4078.80
Midway Sunset77.3076.3575.5078.2576.3075.9578.1082.4580.3579.4078.80
Seal Beach84.4083.4582.6085.3583.4083.0585.2089.5587.4586.5085.90
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°API0.04500.04500.04500.04500.04500.04500.04500.04500.04500.04500.0450
CaliforniaAPICA239
12/18
CA240
12/19
CA241
12/20
CA242
12/21
CA243
12/24
CA244
12/26
CA245
12/27
CA246
12/28
CA247
12/31
 Mthly
Avg
Buena Vista Hills84.7585.5085.3087.5588.3590.2090.8590.2590.25 85.9387
Coalinga79.4080.1579.9582.2083.0084.8585.5084.9084.90 80.5887
Huntington Beach80.9581.7081.5083.7584.5586.4087.0586.4586.45 82.1387
Kettleman Hills88.2589.0088.8091.0591.8593.7094.3593.7593.75 89.4387
Lost Hills86.5087.2587.0589.3090.1091.9592.6092.0092.00 87.6887
McKittrick78.6579.4079.2081.4582.2584.1084.7584.1584.15 79.8387
Midway Sunset78.6579.4079.2081.4582.2584.1084.7584.1584.15 79.8387
Seal Beach85.7586.5086.3088.5589.3591.2091.8591.2591.25 86.9387
Gravity AdjustmentPrice Adjustment $/bbl/Tenth°API
Above 40.0°API0.00000.00000.00000.00000.00000.00000.00000.00000.0000 0.0000
34.0° to 40.0°API0.01000.01000.01000.01000.01000.01000.01000.01000.0100 0.0100
Below 34.0°API0.04500.04500.04500.04500.04500.04500.04500.04500.0450 0.0450
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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