Chevron
North America Crude Oil Marketing - November 2011 Summary California Bulletins 11-CA211 to 11-CA231, 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
CaliforniaAPICA211
11/01
CA212
11/02
CA213
11/03
CA214
11/04
CA215
11/07
CA216
11/08
CA217
11/09
CA218
11/10
CA219
11/11
CA220
11/14
CA221
11/15
Buena Vista Hills 119.60121.35122.10123.40 121.90123.40124.60 124.50
Midway Sunset113.75114.05115.60 116.55 116.35117.85119.05 118.95
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°API0.04250.04250.04250.04250.04250.04250.04250.04250.04250.04250.0425
CaliforniaAPICA222
11/16
CA223
11/17
CA224
11/18
CA225
11/21
CA226
11/22
CA227
11/23
CA228
11/25
CA229
11/28
CA230
11/29
CA231
11/30
Mthly
Avg
Buena Vista Hills 121.90 119.25119.10116.75 116.25116.75117.30121.0768
Midway Sunset121.65116.35114.70113.70113.55111.20111.20110.70111.20111.75115.2000
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°API0.04250.04250.04250.04250.04250.04250.04250.04250.04250.04250.0425
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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