North America Crude Oil Marketing - January 2002 Summary California Bulletins 02-CA1 to 02-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 01/02	CA2 01/04	CA3 01/09	CA4 01/11	CA5 01/14
Asphalto		17.35	17.85	17.35	16.85	16.35
Belridge Hvy (under 28�)		13.90	14.40	13.90	13.40	12.90
Belridge Lt (over 28�)		17.15	17.65	17.15	16.65	16.15
Buena Vista Hills		16.20	16.70	16.20	15.70	15.20
Cal Canal		18.20	18.70	18.20	17.70	17.20
Coalinga		14.20	14.70	14.20	13.70	13.20
Cymric		13.55	14.05	13.55	13.05	12.55
Huntington Beach		14.80	15.30	14.80	14.30	13.80
Kern River		13.75	14.25	13.75	13.25	12.75
Kettleman Hills		17.60	18.10	17.60	17.10	16.60
Lost Hills		17.10	17.60	17.10	16.60	16.10
McKittrick		13.75	14.25	13.75	13.25	12.75
Midway Sunset		13.75	14.25	13.75	13.25	12.75
Montebello		15.70	16.20	15.70	15.20	14.70
Pt Arguello (onshore)		10.40	10.90	10.40	9.90	9.40
Railroad Gap		17.25	17.75	17.25	16.75	16.25
San Ardo		12.25	12.75	12.25	11.75	11.25
Seal Beach		16.65	17.15	16.65	16.15	15.65

California	API	CA6 01/17	CA7 01/23	CA8 01/25		Mthly Avg
Asphalto		15.60	16.10	16.60		16.6806
Belridge Hvy (under 28�)		12.15	12.65	13.15		13.2306
Belridge Lt (over 28�)		15.40	15.90	16.40		16.4806
Buena Vista Hills		14.45	14.95	15.45		15.5306
Cal Canal		16.45	16.95	17.45		17.5306
Coalinga		12.45	12.95	13.45		13.5306
Cymric		11.80	12.30	12.80		12.8806
Huntington Beach		13.05	13.55	14.05		14.1306
Kern River		12.00	12.50	13.00		13.0806
Kettleman Hills		15.85	16.35	16.85		16.9306
Lost Hills		15.35	15.85	16.35		16.4306
McKittrick		12.00	12.50	13.00		13.0806
Midway Sunset		12.00	12.50	13.00		13.0806
Montebello		13.95	14.45	14.95		15.0306
Pt Arguello (onshore)		8.65	9.15	9.65		9.7306
Railroad Gap		15.50	16.00	16.50		16.5806
San Ardo		10.50	11.00	11.50		11.5806
Seal Beach		14.90	15.40	15.90		15.9806

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.