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

North America Crude Oil Marketing - February 2003 Summary East of the Rockies Bulletins 03-E23 to 03-E42, 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	E23 02/01	E24 02/03	E25 02/04	E26 02/05	E27 02/06	E28 02/07	E29 02/10	E30 02/11	E31 02/12	E32 02/13	E33 02/14	Gvty Adj*
Altamont Yellow Wax	33.51	32.76	33.58	33.93	34.16	35.12	34.48	35.44	35.77	36.36	36.80	B
Bonito Sour (Onshore)	33.00	32.25	33.00	33.25	33.50	34.50	34.00	35.00	35.25	35.75	36.25	A
Deepwater Sour (Onshore) (30ï¿½)	30.25	29.50	30.25	30.75	31.00	32.00	31.25	32.25	32.50	33.25	33.50	F,G
East Texas	34.24	33.49	34.31	34.66	34.89	35.85	35.21	36.17	36.50	37.09	37.53	none
Eugene Island Sour (Onshore)	32.50	31.75	32.75	33.00	33.25	34.25	33.50	34.50	34.75	35.50	36.00	A
Heavy Louisiana Sweet (Onshore)	34.00	33.25	34.00	34.50	34.75	35.75	35.00	36.00	36.25	37.00	37.25	A
Light Louisiana Sweet (Onshore)	34.00	33.25	34.00	34.50	34.50	35.50	35.00	36.00	36.25	36.75	37.25	A
New Mexico Intermediate	34.62	33.87	34.69	35.04	35.27	36.23	35.59	36.55	36.88	37.47	37.91	none
New Mexico Sour (34ï¿½)	33.33	32.58	33.40	33.75	33.98	34.94	34.30	35.26	35.59	36.18	36.62	none
North Texas Sweet	33.50	32.75	33.57	33.92	34.15	35.11	34.47	35.43	35.76	36.35	36.79	none
Oklahoma Sour	33.33	32.58	33.40	33.75	33.98	34.94	34.30	35.26	35.59	36.18	36.62	none
Oklahoma Sweet	34.73	33.98	34.80	35.15	35.38	36.34	35.70	36.66	36.99	37.58	38.02	none
South Texas Light Sweet	33.29	32.54	33.36	33.71	33.94	34.90	34.26	35.22	35.55	36.14	36.58	none
Southwest Wyoming Sweet	34.31	33.56	34.38	34.73	34.96	35.92	35.28	36.24	36.57	37.16	37.60	E
Uinta Basin Black Wax	30.26	29.51	30.33	30.68	30.91	31.87	31.23	32.19	32.52	33.11	33.55	B
West Texas Intermediate	34.07	33.32	34.14	34.49	34.72	35.68	35.04	36.00	36.33	36.92	37.36	none
West Texas Sour (34ï¿½)	32.87	32.12	32.94	33.29	33.52	34.48	33.84	34.80	35.13	35.72	36.16	none
Western Colorado	34.30	33.55	34.37	34.72	34.95	35.91	35.27	36.23	36.56	37.15	37.59	B

East of the Rockies	E34 02/18	E35 02/19	E36 02/20	E37 02/21	E38 02/24	E39 02/25	E40 02/26	E41 02/27	E42 02/28	Mthly Avg
Altamont Yellow Wax	36.96	37.16	36.79	35.58	36.48	36.06	37.70	37.20	36.60	35.6339
Bonito Sour (Onshore)	36.50	36.50	36.25	35.00	36.00	35.50	37.25	36.75	36.00	35.0804
Deepwater Sour (Onshore) (30ï¿½)	33.75	34.00	33.50	32.25	33.25	32.75	34.50	34.00	33.50	32.4018
East Texas	37.69	37.89	37.52	36.31	37.21	36.79	38.43	37.93	37.33	36.3639
Eugene Island Sour (Onshore)	36.00	36.25	36.00	34.75	35.50	35.25	36.75	36.25	35.75	34.7411
Heavy Louisiana Sweet (Onshore)	37.50	37.75	37.25	36.00	37.00	36.50	38.25	37.75	37.00	36.1429
Light Louisiana Sweet (Onshore)	37.50	37.50	37.25	36.00	37.00	36.50	38.25	37.75	37.00	36.0893
New Mexico Intermediate	38.07	38.27	37.90	36.69	37.59	37.17	38.81	38.31	37.71	36.7439
New Mexico Sour (34ï¿½)	36.78	36.98	36.61	35.40	36.30	35.88	37.52	37.02	36.42	35.4539
North Texas Sweet	36.95	37.15	36.78	35.57	36.47	36.05	37.69	37.19	36.59	35.6239
Oklahoma Sour	36.78	36.98	36.61	35.40	36.30	35.88	37.52	37.02	36.42	35.4539
Oklahoma Sweet	38.18	38.38	38.01	36.80	37.70	37.28	38.92	38.42	37.82	36.8539
South Texas Light Sweet	36.74	36.94	36.57	35.36	36.26	35.84	37.48	36.98	36.38	35.4139
Southwest Wyoming Sweet	37.76	37.96	37.59	36.38	37.28	36.86	38.50	38.00	37.40	36.4339
Uinta Basin Black Wax	33.71	33.91	33.54	32.33	33.23	32.81	34.45	33.95	33.35	32.3839
West Texas Intermediate	37.52	37.72	37.35	36.14	37.04	36.62	38.26	37.76	37.16	36.1939
West Texas Sour (34ï¿½)	36.32	36.52	36.15	34.94	35.84	35.42	37.06	36.56	35.96	34.9939
Western Colorado	37.75	37.95	37.58	36.37	37.27	36.85	38.49	37.99	37.39	36.4239

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.