Chevron Crude Oil Marketing - North America - March 2003 California Summary

North America Crude Oil Marketing - March 2003 Summary California Bulletins 03-CA34 to 03-CA53, 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	CA34 03/03	CA35 03/04	CA36 03/05	CA37 03/07	CA38 03/10	CA39 03/11	CA40 03/12	CA41 03/13	CA42 03/14	CA43 03/17	CA44 03/18
Asphalto	34.75	35.75	35.50	36.25	36.00	35.50	36.50	34.75	34.25	33.75	30.50
Belridge Hvy (under 28ï¿½)	30.95	31.95	31.70	32.45	32.20	31.70	32.70	30.95	30.45	29.95	26.70
Belridge Lt (over 28ï¿½)	34.50	35.50	35.25	36.00	35.75	35.25	36.25	34.50	34.00	33.50	30.25
Buena Vista Hills	33.45	34.45	34.20	34.95	34.70	34.20	35.20	33.45	32.95	32.45	29.20
Cal Canal	35.60	36.60	36.35	37.10	36.85	36.35	37.35	35.60	35.10	34.60	31.35
Coalinga	31.25	32.25	32.00	32.75	32.50	32.00	33.00	31.25	30.75	30.25	27.00
Cymric	30.55	31.55	31.30	32.05	31.80	31.30	32.30	30.55	30.05	29.55	26.30
Huntington Beach	31.85	32.85	32.60	33.35	33.10	32.60	33.60	31.85	31.35	30.85	27.60
Kern River	30.75	31.75	31.50	32.25	32.00	31.50	32.50	30.75	30.25	29.75	26.50
Kettleman Hills	35.00	36.00	35.75	36.50	36.25	35.75	36.75	35.00	34.50	34.00	30.75
Lost Hills	34.45	35.45	35.20	35.95	35.70	35.20	36.20	34.45	33.95	33.45	30.20
McKittrick	30.75	31.75	31.50	32.25	32.00	31.50	32.50	30.75	30.25	29.75	26.50
Midway Sunset	30.75	31.75	31.50	32.25	32.00	31.50	32.50	30.75	30.25	29.75	26.50
Montebello	32.85	33.85	33.60	34.35	34.10	33.60	34.60	32.85	32.35	31.85	28.60
Pt Arguello (onshore)	27.40	28.40	28.15	28.90	28.65	28.15	29.15	27.40	26.90	26.40	23.15
Railroad Gap	34.60	35.60	35.35	36.10	35.85	35.35	36.35	34.60	34.10	33.60	30.35
San Ardo	29.20	30.20	29.95	30.70	30.45	29.95	30.95	29.20	28.70	28.20	24.95
Seal Beach	33.95	34.95	34.70	35.45	35.20	34.70	35.70	33.95	33.45	32.95	29.70

California	CA45 03/19	CA46 03/20	CA47 03/21	CA48 03/24	CA49 03/25	CA50 03/26	CA51 03/27	CA52 03/28	CA53 03/31	Mthly Avg
Asphalto	28.75	27.50	26.25	26.75	26.00	26.25	28.00	27.75	28.00	31.7500
Belridge Hvy (under 28ï¿½)	24.95	23.70	22.45	22.95	22.20	22.45	24.20	23.95	24.20	27.9500
Belridge Lt (over 28ï¿½)	28.50	27.25	26.00	26.50	25.75	26.00	27.75	27.50	27.75	31.5000
Buena Vista Hills	27.45	26.20	24.95	25.45	24.70	24.95	26.70	26.45	26.70	30.4500
Cal Canal	29.60	28.35	27.10	27.60	26.85	27.10	28.85	28.60	28.85	32.6000
Coalinga	25.25	24.00	22.75	23.25	22.50	22.75	24.50	24.25	24.50	28.2500
Cymric	24.55	23.30	22.05	22.55	21.80	22.05	23.80	23.55	23.80	27.5500
Huntington Beach	25.85	24.60	23.35	23.85	23.10	23.35	25.10	24.85	25.10	28.8500
Kern River	24.75	23.50	22.25	22.75	22.00	22.25	24.00	23.75	24.00	27.7500
Kettleman Hills	29.00	27.75	26.50	27.00	26.25	26.50	28.25	28.00	28.25	32.0000
Lost Hills	28.45	27.20	25.95	26.45	25.70	25.95	27.70	27.45	27.70	31.4500
McKittrick	24.75	23.50	22.25	22.75	22.00	22.25	24.00	23.75	24.00	27.7500
Midway Sunset	24.75	23.50	22.25	22.75	22.00	22.25	24.00	23.75	24.00	27.7500
Montebello	26.85	25.60	24.35	24.85	24.10	24.35	26.10	25.85	26.10	29.8500
Pt Arguello (onshore)	21.40	20.15	18.90	19.40	18.65	18.90	20.65	20.40	20.65	24.4000
Railroad Gap	28.60	27.35	26.10	26.60	25.85	26.10	27.85	27.60	27.85	31.6000
San Ardo	23.20	21.95	20.70	21.20	20.45	20.70	22.45	22.20	22.45	26.2000
Seal Beach	27.95	26.70	25.45	25.95	25.20	25.45	27.20	26.95	27.20	30.9500

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.