North America Crude Oil Marketing - January 2001 Summary California Bulletins 01-CA1 to 01-CA8, 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

California	API	CA1 01/03	CA2 01/10	CA3 01/12	CA4 01/18	CA5 01/19
Asphalto		21.90	23.40	23.90	24.25	26.00
Belridge Hvy (under 28�)		17.00	18.50	19.00	19.75	21.50
Belridge Lt (over 28�)		21.55	23.05	23.55	23.95	25.70
Buena Vista Hills		20.20	21.70	22.20	22.70	24.45
Cal Canal		22.80	24.30	24.80	25.15	26.90
Coalinga		17.30	18.80	19.30	20.05	21.80
Cymric		16.55	18.05	18.55	19.30	21.05
Huntington Beach		18.40	19.90	20.40	21.05	22.80
Kern River		16.75	18.25	18.75	19.50	21.25
Kettleman Hills		22.20	23.70	24.20	24.55	26.30
Lost Hills		21.40	22.90	23.40	23.85	25.60
McKittrick		16.75	18.25	18.75	19.50	21.25
Midway Sunset		16.75	18.25	18.75	19.50	21.25
Montebello		19.40	20.90	21.40	21.95	23.70
Pt Arguello (onshore)		14.75	16.25	16.75	17.40	19.15
Railroad Gap		21.70	23.20	23.70	24.10	25.85
Seal Beach		20.80	22.30	22.80	23.30	25.05

California	API	CA6 01/24	CA7 01/29	CA8 01/31		Mthly Avg
Asphalto		25.50	25.00	24.50		24.1293
Belridge Hvy (under 28�)		21.00	20.50	20.00		19.4224
Belridge Lt (over 28�)		25.20	24.70	24.20		23.8034
Buena Vista Hills		23.95	23.45	22.95		22.5017
Cal Canal		26.40	25.90	25.40		25.0293
Coalinga		21.30	20.80	20.30		19.7224
Cymric		20.55	20.05	19.55		18.9724
Huntington Beach		22.30	21.80	21.30		20.7741
Kern River		20.75	20.25	19.75		19.1724
Kettleman Hills		25.80	25.30	24.80		24.4293
Lost Hills		25.10	24.60	24.10		23.6776
McKittrick		20.75	20.25	19.75		19.1724
Midway Sunset		20.75	20.25	19.75		19.1724
Montebello		23.20	22.70	22.20		21.7259
Pt Arguello (onshore)		18.65	18.15	17.65		17.1241
Railroad Gap		25.35	24.85	24.35		23.9534
Seal Beach		24.55	24.05	23.55		23.1017

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.