North America Crude Oil Marketing - March 2004 Summary East of the Rockies Bulletins 04-E41 to 04-E63, 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	E41 03/01	E42 03/02	E43 03/03	E44 03/04	E45 03/05	E46 03/08	E47 03/09	E48 03/10	E49 03/11	E50 03/12	E51 03/15	E52 03/16	Gvty Adj*
Altamont Yellow Wax	36.86	36.66	35.80	36.64	37.26	36.57	36.28	36.10	36.78	36.19	37.44	37.48	B
Bonito Sour (Onshore)	34.75	34.50	33.75	34.50	35.25	34.50	34.25	34.00	34.75	34.00	35.25	35.50	A
Deepwater Sour (Onshore) (30�)	31.25	31.00	30.25	31.00	31.75	31.00	30.75	30.50	31.25	30.50	31.75	31.75	F,G
East Texas	37.58	37.38	36.52	37.36	37.98	37.29	37.00	36.82	37.50	36.91	38.16	38.20	none
Eugene Island Sour (Onshore)	34.25	34.00	33.25	34.00	34.75	34.00	33.75	33.50	34.25	33.75	35.00	35.00	A
Heavy Louisiana Sweet (Onshore)	36.00	35.75	34.75	35.75	36.25	35.75	35.25	35.25	35.75	35.25	36.50	36.50	A
Light Louisiana Sweet (Onshore)	36.50	36.25	35.50	36.25	37.00	36.25	36.00	35.75	36.50	35.75	37.00	37.25	A
New Mexico Intermediate	37.36	37.16	36.30	37.14	37.76	37.07	36.78	36.60	37.28	36.69	37.94	37.98	none
New Mexico Sour (34�)	33.93	33.73	32.87	33.71	34.33	33.64	33.35	33.17	33.85	33.26	34.51	34.55	none
North Texas Sweet	36.84	36.64	35.78	36.62	37.24	36.55	36.26	36.08	36.76	36.17	37.42	37.46	none
Oklahoma Sour	33.93	33.73	32.87	33.71	34.33	33.64	33.35	33.17	33.85	33.26	34.51	34.55	none
Oklahoma Sweet	38.07	37.87	37.01	37.85	38.47	37.78	37.49	37.31	37.99	37.40	38.65	38.69	none
South Texas Light Sweet	36.03	35.83	34.97	35.81	36.43	35.74	35.45	35.27	35.95	35.36	36.61	36.65	none
Southwest Wyoming Sweet	37.66	37.46	36.60	37.44	38.06	37.37	37.08	36.90	37.58	36.99	38.24	38.28	E
Uinta Basin Black Wax	34.11	33.91	33.05	33.89	34.51	33.82	33.53	33.35	34.03	33.44	34.69	34.73	B
West Texas Intermediate	36.82	36.62	35.76	36.60	37.22	36.53	36.24	36.06	36.74	36.15	37.40	37.44	none
West Texas Sour (34�)	33.38	33.18	32.32	33.16	33.78	33.09	32.80	32.62	33.30	32.71	33.96	34.00	none
Western Colorado	37.65	37.45	36.59	37.43	38.05	37.36	37.07	36.89	37.57	36.98	38.23	38.27	B

East of the Rockies	E53 03/17	E54 03/18	E55 03/19	E56 03/22	E57 03/23	E58 03/24	E59 03/25	E60 03/26	E61 03/29	E62 03/30	E63 03/31	Gvty Adj*	Mthly Avg
Altamont Yellow Wax	38.18	37.93	38.08	37.11	37.45	37.01	35.51	35.65	35.45	36.25	35.76		36.7355
Bonito Sour (Onshore)	36.00	35.75	36.00	35.00	35.25	35.00	33.50	33.50	33.25	34.25	33.75		34.6371
Deepwater Sour (Onshore) (30�)	32.50	32.25	32.50	31.50	31.75	31.50	30.00	30.00	29.75	30.75	30.25		31.1290
East Texas	38.90	38.65	38.80	37.83	38.17	37.73	36.23	36.37	36.17	36.97	36.48		37.4555
Eugene Island Sour (Onshore)	35.50	35.25	35.50	34.50	35.00	34.50	33.00	33.00	33.00	33.75	33.25		34.1855
Heavy Louisiana Sweet (Onshore)	37.25	37.00	37.25	36.25	36.50	36.00	34.50	34.75	34.50	35.25	34.75		35.7984
Light Louisiana Sweet (Onshore)	37.75	37.50	37.75	36.75	37.00	36.75	35.25	35.25	35.00	36.00	35.50		36.3871
New Mexico Intermediate	38.68	38.43	38.58	37.61	37.95	37.51	36.01	36.15	35.95	36.75	36.26		37.2355
New Mexico Sour (34�)	35.25	35.00	35.15	34.18	34.52	34.08	32.58	32.72	32.52	33.32	32.83		33.8055
North Texas Sweet	38.16	37.91	38.06	37.09	37.43	36.99	35.49	35.63	35.43	36.23	35.74		36.7155
Oklahoma Sour	35.25	35.00	35.15	34.18	34.52	34.08	32.58	32.72	32.52	33.32	32.83		33.8055
Oklahoma Sweet	39.39	39.14	39.29	38.32	38.66	38.22	36.72	36.86	36.66	37.46	36.97		37.9455
South Texas Light Sweet	37.35	37.10	37.25	36.28	36.62	36.18	34.68	34.82	34.62	35.42	34.93		35.9055
Southwest Wyoming Sweet	38.98	38.73	38.88	37.91	38.25	37.81	36.31	36.45	36.25	37.05	36.56		37.5355
Uinta Basin Black Wax	35.43	35.18	35.33	34.36	34.70	34.26	32.76	32.90	32.70	33.50	33.01		33.9855
West Texas Intermediate	38.14	37.89	38.04	37.07	37.41	36.97	35.47	35.61	35.41	36.21	35.72		36.6955
West Texas Sour (34�)	34.70	34.45	34.60	33.63	33.97	33.53	32.03	32.17	31.97	32.77	32.28		33.2555
Western Colorado	38.97	38.72	38.87	37.90	38.24	37.80	36.30	36.44	36.24	37.04	36.55		37.5255

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.