North America Crude Oil Marketing - August 2004 Summary California Bulletins 04-CA122 to 04-CA140, 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	CA122 08/03	CA123 08/04	CA124 08/05	CA125 08/06	CA126 08/09	CA127 08/10	CA128 08/11	CA129 08/12	CA130 08/13	CA131 08/16
Buena Vista Hills		40.70	39.45	40.95	40.45	41.45	40.95	41.20	41.95	42.95	42.45
Coalinga		37.35	36.10	37.60	37.10	38.10	37.60	37.85	38.35	39.35	38.85
Huntington Beach		38.30	37.05	38.55	38.05	39.05	38.55	38.80	39.35	40.35	39.85
Kettleman Hills		43.00	41.75	43.25	42.75	43.75	43.25	43.50	44.40	45.40	44.90
Lost Hills		42.05	40.80	42.30	41.80	42.80	42.30	42.55	43.40	44.40	43.90
McKittrick		36.75	35.50	37.00	36.50	37.50	37.00	37.25	37.75	38.75	38.25
Midway Sunset		36.75	35.50	37.00	36.50	37.50	37.00	37.25	37.75	38.75	38.25
Pt Arguello (onshore)		33.25	32.00	33.50	33.00	34.00	33.50	33.75	34.25	35.25	34.75
San Ardo		34.70	33.45	34.95	34.45	35.45	34.95	35.20	35.65	36.65	36.15
Seal Beach		41.40	40.15	41.65	41.15	42.15	41.65	41.90	42.70	43.70	43.20

California	API	CA132 08/17	CA133 08/19	CA134 08/20	CA135 08/23	CA136 08/24	CA137 08/25	CA138 08/26	CA139 08/30	CA140 08/31	Mthly Avg
Buena Vista Hills		43.20	44.45	43.70	42.45	40.70	38.70	38.45	37.45	37.20	41.0468
Coalinga		39.35	40.15	39.40	38.15	36.85	35.10	34.85	33.85	33.60	37.3984
Huntington Beach		40.45	41.40	40.65	39.40	37.95	36.10	35.85	34.85	34.60	38.4306
Kettleman Hills		45.80	47.35	46.60	45.35	43.30	41.15	40.90	39.90	39.65	43.5306
Lost Hills		44.70	46.10	45.35	44.10	42.20	40.15	39.90	38.90	38.65	42.4984
McKittrick		38.75	39.50	38.75	37.50	36.25	34.50	34.25	33.25	33.00	36.7903
Midway Sunset		38.75	39.50	38.75	37.50	36.25	34.50	34.25	33.25	33.00	36.7903
Pt Arguello (onshore)		35.25	36.00	35.25	34.00	32.75	31.00	30.75	29.75	29.50	33.2903
San Ardo		36.60	37.25	36.50	35.25	34.10	32.40	32.15	31.15	30.90	34.6790
Seal Beach		43.95	45.30	44.55	43.30	41.45	39.45	39.20	38.20	37.95	41.7952

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.