Chevron Crude Oil Marketing - North America - December 2004 California Summary

North America Crude Oil Marketing - December 2004 Summary California Bulletins 04-CA196 to 04-CA213, 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	CA196 12/01	CA197 12/02	CA198 12/03	CA199 12/06	CA200 12/07	CA201 12/08	CA202 12/09	CA203 12/10	CA204 12/13	CA205 12/14
Buena Vista Hills	36.45	34.20	33.45	33.95	32.45	32.95	33.20	31.45	31.70	32.45
Coalinga	32.60	30.35	29.60	30.10	28.60	29.10	29.35	27.60	27.85	28.60
Huntington Beach	33.60	31.35	30.60	31.10	29.60	30.10	30.40	28.65	28.90	29.65
Kettleman Hills	39.05	36.80	36.05	36.55	35.05	35.55	35.80	34.05	34.30	35.05
Lost Hills	37.95	35.70	34.95	35.45	33.95	34.45	34.70	32.95	33.20	33.95
McKittrick	32.00	29.75	29.00	29.50	28.00	28.50	28.75	27.00	27.25	28.00
Midway Sunset	32.00	29.75	29.00	29.50	28.00	28.50	28.75	27.00	27.25	28.00
Pt Arguello (onshore)	28.00	25.75	25.00	25.50	24.00	24.50	25.00	23.25	23.50	24.25
San Ardo	29.65	27.40	26.65	27.15	25.65	26.15	26.50	24.75	25.00	25.75
Seal Beach	37.20	34.95	34.20	34.70	33.20	33.70	33.95	32.20	32.45	33.20

California	CA206 12/15	CA207 12/17	CA208 12/20	CA209 12/22	CA210 12/27	CA211 12/28	CA212 12/29	CA213 12/30	Mthly Avg
Buena Vista Hills	34.70	36.70	36.20	34.45	31.70	32.20	33.95	33.70	33.9177
Coalinga	30.85	32.85	32.35	30.60	27.85	28.35	30.10	29.85	30.0677
Huntington Beach	31.90	33.90	33.40	31.65	28.90	29.40	31.15	30.90	31.1048
Kettleman Hills	37.30	39.30	38.80	37.05	34.30	34.80	36.55	36.30	36.5177
Lost Hills	36.20	38.20	37.70	35.95	33.20	33.70	35.45	35.20	35.4177
McKittrick	30.25	32.25	31.75	30.00	27.25	27.75	29.50	29.25	29.4677
Midway Sunset	30.25	32.25	31.75	30.00	27.25	27.75	29.50	29.25	29.4677
Pt Arguello (onshore)	26.50	28.50	28.00	26.25	23.50	24.00	25.75	25.50	25.6532
San Ardo	28.00	30.00	29.50	27.75	25.00	25.50	27.25	27.00	27.1919
Seal Beach	35.45	37.45	36.95	35.20	32.45	32.95	34.70	34.45	34.6677

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.