Chevron Crude Oil Marketing - North America - November 2003 East of the Rockies Summary

North America Crude Oil Marketing - November 2003 Summary East of the Rockies Bulletins 03-E217 to 03-E235, with Monthly Averages

Chevron has changed its posted prices as shown below:

Effective 7:00 a.m. on the date(s) indicated, and subject to change without notice and subject to the terms and conditions of its division orders or other contracts, Chevron will pay the following prices ($/bbl) for oil at 40.0° API and above, except as noted below, delivered into pipelines for its account into the custody of its authorized carrier or receiving agent. The posted prices for crude oil transported by truck or barge will be the following prices less appropriate trucking or barge cost. The posted prices for crude oil received off shore will be the following prices less appropriate transportation and quality costs to get the crude on shore. Regarding technical issues of Chevron's most recent posted prices, call Christine Mathwig 832-854-5159.

POSTINGS WILL BE DISCONTINUED AS OF 8/1/19

* Prices are subject to a Gravity Adjustment Scale

East of the Rockies	E217 11/01	E218 11/03	E219 11/04	E220 11/05	E221 11/06	E222 11/07	E223 11/10	E224 11/11	E225 11/12	E226 11/13	Gvty Adj*
Altamont Yellow Wax	29.11	28.90	28.75	30.30	30.26	30.85	30.88	31.15	31.33	31.90	B
Bonito Sour (Onshore)	28.25	28.00	28.00	29.50	29.50	30.00	30.00	30.25	30.50	31.00	A
Deepwater Sour (Onshore) (30ï¿½)	26.00	25.75	25.50	27.00	27.00	27.75	27.75	28.00	28.00	28.75	F,G
East Texas	28.75	28.54	28.39	29.94	29.90	30.49	30.52	30.79	30.97	31.54	none
Eugene Island Sour (Onshore)	28.00	27.75	27.75	29.25	29.25	29.75	29.75	30.00	30.25	30.75	A
Heavy Louisiana Sweet (Onshore)	29.50	29.25	29.00	30.50	30.50	31.25	31.25	31.50	31.75	32.25	A
Light Louisiana Sweet (Onshore)	29.50	29.25	29.00	30.75	30.50	31.25	31.25	31.50	31.75	32.25	A
New Mexico Intermediate	29.07	28.86	28.71	30.26	30.22	30.81	30.84	31.11	31.29	31.86	none
New Mexico Sour (34ï¿½)	26.61	26.40	26.25	27.80	27.76	28.35	28.38	28.65	28.83	29.40	none
North Texas Sweet	28.01	27.80	27.65	29.20	29.16	29.75	29.78	30.05	30.23	30.80	none
Oklahoma Sour	26.61	26.40	26.25	27.80	27.76	28.35	28.38	28.65	28.83	29.40	none
Oklahoma Sweet	29.24	29.03	28.88	30.43	30.39	30.98	31.01	31.28	31.46	32.03	none
South Texas Light Sweet	27.74	27.53	27.38	28.93	28.89	29.48	29.51	29.78	29.96	30.53	none
Southwest Wyoming Sweet	29.91	29.70	29.55	31.10	31.06	31.65	31.68	31.95	32.13	32.70	E
Uinta Basin Black Wax	26.36	26.15	26.00	27.55	27.51	28.10	28.13	28.40	28.58	29.15	B
West Texas Intermediate	28.53	28.32	28.17	29.72	29.68	30.27	30.30	30.57	30.75	31.32	none
West Texas Sour (34ï¿½)	26.06	25.85	25.70	27.25	27.21	27.80	27.83	28.10	28.28	28.85	none
Western Colorado	29.90	29.69	29.54	31.09	31.05	31.64	31.67	31.94	32.12	32.69	B

East of the Rockies	E227 11/14	E228 11/17	E229 11/18	E230 11/19	E231 11/20	E232 11/21	E233 11/24	E234 11/25	E235 11/26	Mthly Avg
Altamont Yellow Wax	32.37	31.73	33.28	32.92	32.86	31.61	29.74	29.77	30.41	30.9510
Bonito Sour (Onshore)	31.50	31.00	32.50	32.00	32.00	30.75	29.00	29.00	29.50	30.1000
Deepwater Sour (Onshore) (30ï¿½)	29.25	28.50	30.00	29.75	29.75	28.50	26.50	26.50	27.25	27.7833
East Texas	32.01	31.37	32.92	32.56	32.50	31.25	29.38	29.41	30.05	30.5910
Eugene Island Sour (Onshore)	31.25	30.75	32.25	32.00	31.75	30.50	28.75	28.75	29.50	29.9000
Heavy Louisiana Sweet (Onshore)	32.75	32.00	33.50	33.25	33.25	32.00	30.00	30.00	30.75	31.2917
Light Louisiana Sweet (Onshore)	32.75	32.00	33.75	33.25	33.25	32.00	30.00	30.00	30.75	31.3083
New Mexico Intermediate	32.33	31.69	33.24	32.88	32.82	31.57	29.70	29.73	30.37	30.9110
New Mexico Sour (34ï¿½)	29.87	29.23	30.78	30.42	30.36	29.11	27.24	27.27	27.91	28.4510
North Texas Sweet	31.27	30.63	32.18	31.82	31.76	30.51	28.64	28.67	29.31	29.8510
Oklahoma Sour	29.87	29.23	30.78	30.42	30.36	29.11	27.24	27.27	27.91	28.4510
Oklahoma Sweet	32.50	31.86	33.41	33.05	32.99	31.74	29.87	29.90	30.54	31.0810
South Texas Light Sweet	31.00	30.36	31.91	31.55	31.49	30.24	28.37	28.40	29.04	29.5810
Southwest Wyoming Sweet	33.17	32.53	34.08	33.72	33.66	32.41	30.54	30.57	31.21	31.7510
Uinta Basin Black Wax	29.62	28.98	30.53	30.17	30.11	28.86	26.99	27.02	27.66	28.2010
West Texas Intermediate	31.79	31.15	32.70	32.34	32.28	31.03	29.16	29.19	29.83	30.3710
West Texas Sour (34ï¿½)	29.32	28.68	30.23	29.87	29.81	28.56	26.69	26.72	27.36	27.9010
Western Colorado	33.16	32.52	34.07	33.71	33.65	32.40	30.53	30.56	31.20	31.7410

Note: Prices in $/bbl

Measurement
The prices are based upon computation of quantities by mutually acceptable automatic measuring equipment in accordance with provisions of API Standard 1101 or from 100% tank tables with corrections of volume and gravity for temperature to 60°F in accordance with ASTM D-1250 and supplements thereto, if any, and with deductions for full sediment, water and other impurities. Only merchantable oil acceptable to the receiving agency designated by Chevron and containing not more than 1% sediment and water will be accepted.