North America Crude Oil Marketing - September 2003 Summary California Bulletins 03-CA139 to 03-CA151, 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	CA139 09/02	CA140 09/05	CA141 09/09	CA142 09/10	CA143 09/11	CA144 09/12	CA145 09/15
Asphalto		26.85	26.60	26.85	27.10	26.60	26.10	25.85
Belridge Hvy (under 28�)		24.15	23.90	24.15	24.40	23.90	23.40	23.15
Belridge Lt (over 28�)		26.75	26.50	26.75	27.00	26.50	26.00	25.75
Buena Vista Hills		25.95	25.70	25.95	26.20	25.70	25.20	24.95
Cal Canal		27.65	27.40	27.65	27.90	27.40	26.90	26.65
Coalinga		24.45	24.20	24.45	24.70	24.20	23.70	23.45
Cymric		23.85	23.60	23.85	24.10	23.60	23.10	22.85
Huntington Beach		24.75	24.50	24.75	25.00	24.50	24.00	23.75
Kern River		24.00	23.75	24.00	24.25	23.75	23.25	23.00
Kettleman Hills		27.05	26.80	27.05	27.30	26.80	26.30	26.05
Lost Hills		26.70	26.45	26.70	26.95	26.45	25.95	25.70
McKittrick		24.00	23.75	24.00	24.25	23.75	23.25	23.00
Midway Sunset		24.00	23.75	24.00	24.25	23.75	23.25	23.00
Montebello		25.60	25.35	25.60	25.85	25.35	24.85	24.60
Pt Arguello (onshore)		20.30	20.05	20.30	20.55	20.05	19.55	19.30
Railroad Gap		26.75	26.50	26.75	27.00	26.50	26.00	25.75
San Ardo		22.50	22.25	22.50	22.75	22.25	21.75	21.50
Seal Beach		26.35	26.10	26.35	26.60	26.10	25.60	25.35

California	API	CA146 09/16	CA147 09/17	CA148 09/23	CA149 09/24	CA150 09/29	CA151 09/30	Mthly Avg
Asphalto		25.35	24.85	24.60	25.85	26.10	26.85	26.0583
Belridge Hvy (under 28�)		22.65	22.15	21.90	23.15	23.40	24.15	23.3583
Belridge Lt (over 28�)		25.25	24.75	24.50	25.75	26.00	26.75	25.9583
Buena Vista Hills		24.45	23.95	23.70	24.95	25.20	25.95	25.1583
Cal Canal		26.15	25.65	25.40	26.65	26.90	27.65	26.8583
Coalinga		22.95	22.45	22.20	23.45	23.70	24.45	23.6583
Cymric		22.35	21.85	21.60	22.85	23.10	23.85	23.0583
Huntington Beach		23.25	22.75	22.50	23.75	24.00	24.75	23.9583
Kern River		22.50	22.00	21.75	23.00	23.25	24.00	23.2083
Kettleman Hills		25.55	25.05	24.80	26.05	26.30	27.05	26.2583
Lost Hills		25.20	24.70	24.45	25.70	25.95	26.70	25.9083
McKittrick		22.50	22.00	21.75	23.00	23.25	24.00	23.2083
Midway Sunset		22.50	22.00	21.75	23.00	23.25	24.00	23.2083
Montebello		24.10	23.60	23.35	24.60	24.85	25.60	24.8083
Pt Arguello (onshore)		18.80	18.30	18.05	19.30	19.55	20.30	19.5083
Railroad Gap		25.25	24.75	24.50	25.75	26.00	26.75	25.9583
San Ardo		21.00	20.50	20.25	21.50	21.75	22.50	21.7083
Seal Beach		24.85	24.35	24.10	25.35	25.60	26.35	25.5583

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.