Chevron Crude Oil Marketing - North America - February 2004 East of the Rockies Summary

North America Crude Oil Marketing - February 2004 Summary East of the Rockies Bulletins 04-E21 to 04-E40, 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	E21 02/01	E22 02/02	E23 02/03	E24 02/04	E25 02/05	E26 02/06	E27 02/09	E28 02/10	E29 02/11	E30 02/12	E31 02/13	Gvty Adj*
Altamont Yellow Wax	33.05	34.98	34.10	33.10	33.08	32.48	32.83	33.87	34.00	33.98	34.56	B
Bonito Sour (Onshore)	32.25	34.25	33.50	32.50	32.25	31.75	32.00	33.25	33.25	33.25	33.75	A
Deepwater Sour (Onshore) (30ï¿½)	29.00	30.75	30.00	29.00	29.00	28.25	28.75	29.75	30.00	29.75	30.50	F,G
East Texas	33.17	35.10	34.22	33.22	33.20	32.60	32.95	33.99	34.12	34.10	34.68	none
Eugene Island Sour (Onshore)	32.25	34.25	33.25	32.25	32.25	31.75	32.00	33.00	33.25	33.25	33.75	A
Heavy Louisiana Sweet (Onshore)	33.00	35.00	34.00	33.00	33.00	32.50	32.75	34.00	34.00	34.00	34.50	A
Light Louisiana Sweet (Onshore)	33.75	35.75	34.75	33.75	33.75	33.25	33.50	34.50	34.75	34.75	35.25	A
New Mexico Intermediate	33.39	35.32	34.44	33.44	33.42	32.82	33.17	34.21	34.34	34.32	34.90	none
New Mexico Sour (34ï¿½)	31.15	33.08	32.20	31.20	31.18	30.58	30.93	31.97	32.10	32.08	32.66	none
North Texas Sweet	32.43	34.36	33.48	32.48	32.46	31.86	32.21	33.25	33.38	33.36	33.94	none
Oklahoma Sour	31.15	33.08	32.20	31.20	31.18	30.58	30.93	31.97	32.10	32.08	32.66	none
Oklahoma Sweet	33.66	35.59	34.71	33.71	33.69	33.09	33.44	34.48	34.61	34.59	35.17	none
South Texas Light Sweet	32.06	33.99	33.11	32.11	32.09	31.49	31.84	32.88	33.01	32.99	33.57	none
Southwest Wyoming Sweet	33.85	35.78	34.90	33.90	33.88	33.28	33.63	34.67	34.80	34.78	35.36	E
Uinta Basin Black Wax	30.30	32.23	31.35	30.35	30.33	29.73	30.08	31.12	31.25	31.23	31.81	B
West Texas Intermediate	32.85	34.78	33.90	32.90	32.88	32.28	32.63	33.67	33.80	33.78	34.36	none
West Texas Sour (34ï¿½)	30.60	32.53	31.65	30.65	30.63	30.03	30.38	31.42	31.55	31.53	32.11	none
Western Colorado	33.84	35.77	34.89	33.89	33.87	33.27	33.62	34.66	34.79	34.77	35.35	B

East of the Rockies	E32 02/17	E33 02/18	E34 02/19	E35 02/20	E36 02/23	E37 02/24	E38 02/25	E39 02/26	E40 02/27	Mthly Avg
Altamont Yellow Wax	35.19	35.45	36.00	35.60	34.35	34.58	35.68	35.51	36.16	34.5072
Bonito Sour (Onshore)	34.50	34.75	35.25	35.00	33.75	33.75	35.00	34.75	35.50	33.7931
Deepwater Sour (Onshore) (30ï¿½)	31.00	31.25	32.00	31.50	30.25	30.50	31.50	31.50	32.00	30.3879
East Texas	35.31	35.57	36.12	35.72	34.47	34.70	35.80	35.63	36.28	34.6272
Eugene Island Sour (Onshore)	34.25	34.50	35.25	34.75	33.50	33.75	34.75	34.75	35.25	33.6810
Heavy Louisiana Sweet (Onshore)	35.25	35.50	36.00	35.50	34.25	34.50	35.75	35.50	36.25	34.4914
Light Louisiana Sweet (Onshore)	35.75	36.00	36.75	36.25	35.00	35.25	36.25	36.25	36.75	35.1810
New Mexico Intermediate	35.53	35.79	36.34	35.94	34.69	34.92	36.02	35.85	36.50	34.8472
New Mexico Sour (34ï¿½)	33.29	33.55	34.10	33.70	32.45	32.68	33.78	33.61	34.26	32.6072
North Texas Sweet	34.57	34.83	35.38	34.98	33.73	33.96	35.06	34.89	35.54	33.8872
Oklahoma Sour	33.29	33.55	34.10	33.70	32.45	32.68	33.78	33.61	34.26	32.6072
Oklahoma Sweet	35.80	36.06	36.61	36.21	34.96	35.19	36.29	36.12	36.77	35.1172
South Texas Light Sweet	34.20	34.46	35.01	34.61	33.36	33.59	34.69	34.52	35.17	33.5172
Southwest Wyoming Sweet	35.99	36.25	36.80	36.40	35.15	35.38	36.48	36.31	36.96	35.3072
Uinta Basin Black Wax	32.44	32.70	33.25	32.85	31.60	31.83	32.93	32.76	33.41	31.7572
West Texas Intermediate	34.99	35.25	35.80	35.40	34.15	34.38	35.48	35.31	35.96	34.3072
West Texas Sour (34ï¿½)	32.74	33.00	33.55	33.15	31.90	32.13	33.23	33.06	33.71	32.0572
Western Colorado	35.98	36.24	36.79	36.39	35.14	35.37	36.47	36.30	36.95	35.2972

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.