North America Crude Oil Marketing - July 2001 Summary California Bulletins 01-CA38 to 01-CA46, 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	CA38 07/03	CA39 07/05	CA40 07/06	CA41 07/11	CA42 07/13
Asphalto		23.75	24.25	25.50	25.00	24.50
Belridge Hvy (under 28�)		19.95	20.45	21.70	21.20	20.70
Belridge Lt (over 28�)		23.50	24.00	25.25	24.75	24.25
Buena Vista Hills		22.45	22.95	24.20	23.70	23.20
Cal Canal		24.60	25.10	26.35	25.85	25.35
Coalinga		20.25	20.75	22.00	21.50	21.00
Cymric		19.55	20.05	21.30	20.80	20.30
Huntington Beach		20.85	21.35	22.60	22.10	21.60
Kern River		19.75	20.25	21.50	21.00	20.50
Kettleman Hills		24.00	24.50	25.75	25.25	24.75
Lost Hills		23.45	23.95	25.20	24.70	24.20
McKittrick		19.75	20.25	21.50	21.00	20.50
Midway Sunset		19.75	20.25	21.50	21.00	20.50
Montebello		21.85	22.35	23.60	23.10	22.60
Pt Arguello (onshore)		16.40	16.90	18.15	17.65	17.15
Railroad Gap		23.60	24.10	25.35	24.85	24.35
Seal Beach		22.95	23.45	24.70	24.20	23.70

California	API	CA43 07/16	CA44 07/17	CA45 07/18	CA46 07/25	Mthly Avg
Asphalto		24.00	23.25	22.50	23.00	23.7097
Belridge Hvy (under 28�)		20.20	19.45	18.70	19.20	19.9097
Belridge Lt (over 28�)		23.75	23.00	22.25	22.75	23.4597
Buena Vista Hills		22.70	21.95	21.20	21.70	22.4097
Cal Canal		24.85	24.10	23.35	23.85	24.5597
Coalinga		20.50	19.75	19.00	19.50	20.2097
Cymric		19.80	19.05	18.30	18.80	19.5097
Huntington Beach		21.10	20.35	19.60	20.10	20.8097
Kern River		20.00	19.25	18.50	19.00	19.7097
Kettleman Hills		24.25	23.50	22.75	23.25	23.9597
Lost Hills		23.70	22.95	22.20	22.70	23.4097
McKittrick		20.00	19.25	18.50	19.00	19.7097
Midway Sunset		20.00	19.25	18.50	19.00	19.7097
Montebello		22.10	21.35	20.60	21.10	21.8097
Pt Arguello (onshore)		16.65	15.90	15.15	15.65	16.3597
Railroad Gap		23.85	23.10	22.35	22.85	23.5597
Seal Beach		23.20	22.45	21.70	22.20	22.9097

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.