North America Crude Oil Marketing - December 2004 Summary East of the Rockies Bulletins 04-E233 to 04-E253, 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	E233 12/01	E234 12/02	E235 12/03	E236 12/06	E237 12/07	E238 12/08	E239 12/09	E240 12/10	E241 12/13	E242 12/14	E243 12/15	Gvty Adj*
Altamont Yellow Wax	44.99	42.75	42.04	42.48	40.96	41.44	42.03	40.21	40.51	41.32	43.69	B
Bonito Sour (Onshore)	40.50	38.25	37.50	38.00	36.50	37.00	37.50	35.75	36.00	36.75	39.25	A
Deepwater Sour (Onshore) (30�)	36.00	33.75	33.00	33.50	32.00	32.50	33.00	31.25	31.50	32.50	34.75	F,G
East Texas	42.00	39.75	39.00	39.50	38.00	38.50	39.00	37.25	37.50	38.25	40.75	none
Eugene Island Sour (Onshore)	40.50	38.25	37.50	37.75	36.25	36.75	37.50	35.50	36.00	36.75	39.00	A
Heavy Louisiana Sweet (Onshore)	43.75	41.50	40.75	41.25	39.75	40.25	40.75	39.00	39.25	40.00	42.50	A
Light Louisiana Sweet (Onshore)	45.00	42.75	42.00	42.50	41.00	41.50	42.00	40.25	40.50	41.25	43.75	A
New Mexico Intermediate	45.21	42.97	42.26	42.70	41.18	41.66	42.25	40.43	40.73	41.54	43.91	none
New Mexico Sour (34�)	39.45	37.21	36.50	36.94	35.42	35.90	36.49	34.67	34.97	35.78	38.15	none
North Texas Sweet	42.25	40.00	39.25	39.75	38.25	38.75	39.25	37.50	37.75	38.50	41.00	none
Oklahoma Sour	39.45	37.21	36.50	36.94	35.42	35.90	36.49	34.67	34.97	35.78	38.15	none
Oklahoma Sweet	45.49	43.25	42.54	42.98	41.46	41.94	42.53	40.71	41.01	41.82	44.19	none
South Texas Light Sweet	40.25	38.00	37.25	37.75	36.25	36.75	37.25	35.50	35.75	36.50	39.00	none
Southwest Wyoming Sweet	46.54	44.30	43.59	44.03	42.51	42.99	43.58	41.76	42.06	42.87	45.24	E
Uinta Basin Black Wax	42.49	40.25	39.54	39.98	38.46	38.94	39.53	37.71	38.01	38.82	41.19	B
West Texas Intermediate	42.25	40.00	39.25	39.75	38.25	38.75	39.25	37.50	37.75	38.50	41.00	none
West Texas Sour (34�)	37.50	35.25	34.50	35.00	33.50	34.00	34.50	32.75	33.00	33.75	36.25	none
Western Colorado	46.28	44.04	43.33	43.77	42.25	42.73	43.32	41.50	41.80	42.61	44.98	B

East of the Rockies	E244 12/16	E245 12/17	E246 12/20	E247 12/21	E248 12/22	E249 12/23	E250 12/27	E251 12/28	E252 12/29	E253 12/30	Gvty Adj*	Mthly Avg
Altamont Yellow Wax	43.68	45.78	45.14	45.26	43.74	43.68	40.82	41.27	43.14	42.95		42.8365
Bonito Sour (Onshore)	39.25	41.25	40.75	40.75	39.25	39.25	36.25	36.75	38.75	38.50		38.3548
Deepwater Sour (Onshore) (30�)	34.75	36.75	36.25	36.25	34.75	34.75	32.00	32.25	34.25	34.00		33.8710
East Texas	40.75	42.75	42.25	42.25	40.75	40.50	37.75	38.25	40.00	40.00		39.8145
Eugene Island Sour (Onshore)	39.00	41.25	40.50	40.75	39.25	39.00	36.25	36.75	38.50	38.25		38.2258
Heavy Louisiana Sweet (Onshore)	42.50	44.50	44.00	44.00	42.50	42.50	39.50	40.00	42.00	41.75		41.6048
Light Louisiana Sweet (Onshore)	43.75	45.75	45.25	45.25	43.75	43.75	40.75	41.25	43.25	43.00		42.8548
New Mexico Intermediate	43.90	46.00	45.36	45.48	43.96	43.90	41.04	41.49	43.36	43.17		43.0565
New Mexico Sour (34�)	38.14	40.24	39.60	39.72	38.20	38.14	35.28	35.73	37.60	37.41		37.2965
North Texas Sweet	41.00	43.00	42.50	42.50	41.00	40.75	38.00	38.50	40.25	40.25		40.0645
Oklahoma Sour	38.14	40.24	39.60	39.72	38.20	38.14	35.28	35.73	37.60	37.41		37.2965
Oklahoma Sweet	44.18	46.28	45.64	45.76	44.24	44.18	41.32	41.77	43.64	43.45		43.3365
South Texas Light Sweet	39.00	41.00	40.50	40.50	39.00	38.75	36.00	36.50	38.25	38.25		38.0645
Southwest Wyoming Sweet	45.23	47.33	46.69	46.81	45.29	45.23	42.37	42.82	44.69	44.50		44.3865
Uinta Basin Black Wax	41.18	43.28	42.64	42.76	41.24	41.18	38.07	38.52	40.39	40.20		40.2961
West Texas Intermediate	41.00	43.00	42.50	42.50	41.00	40.75	38.00	38.50	40.25	40.25		40.0645
West Texas Sour (34�)	36.25	38.25	37.75	37.75	36.25	36.00	33.25	33.75	35.50	35.50		35.3145
Western Colorado	44.97	47.07	46.43	46.55	45.03	44.97	42.11	42.56	44.43	44.24		44.1265

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.