North America Crude Oil Marketing - August 2004 Summary East of the Rockies Bulletins 04-E148 to 04-E170, 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	E148 08/01	E149 08/02	E150 08/03	E151 08/04	E152 08/05	E153 08/06	E154 08/09	E155 08/10	E156 08/11	E157 08/12	E158 08/13	E159 08/16	Gvty Adj*
Altamont Yellow Wax	43.80	43.82	44.15	42.83	44.41	43.95	44.84	44.52	44.80	45.50	46.58	46.05	B
Bonito Sour (Onshore)	41.25	41.25	41.75	40.25	42.00	41.50	42.25	42.00	42.25	43.00	44.00	43.50	A
Deepwater Sour (Onshore) (30�)	38.50	38.75	39.00	37.75	39.25	38.75	39.75	39.25	39.50	40.25	41.50	40.75	F,G
East Texas	40.25	40.25	40.50	39.25	41.00	40.50	41.25	41.00	41.25	42.00	43.00	42.50	none
Eugene Island Sour (Onshore)	40.75	40.75	41.25	39.75	41.50	41.00	41.75	41.50	41.75	42.50	43.50	43.00	A
Heavy Louisiana Sweet (Onshore)	42.50	42.50	42.75	41.50	43.00	42.50	43.50	43.25	43.50	44.00	45.25	44.75	A
Light Louisiana Sweet (Onshore)	43.50	43.50	44.00	42.75	44.25	43.75	44.75	44.25	44.50	45.25	46.50	45.75	A
New Mexico Intermediate	43.74	43.76	44.09	42.77	44.35	43.89	44.78	44.46	44.74	45.44	46.52	45.99	none
New Mexico Sour (34�)	41.23	41.25	41.58	40.26	41.84	41.38	42.27	41.95	42.23	42.93	44.01	43.48	none
North Texas Sweet	40.50	40.50	40.75	39.50	41.25	40.75	41.50	41.25	41.50	42.25	43.25	42.75	none
Oklahoma Sour	41.23	41.25	41.58	40.26	41.84	41.38	42.27	41.95	42.23	42.93	44.01	43.48	none
Oklahoma Sweet	43.88	43.90	44.23	42.91	44.49	44.03	44.92	44.60	44.88	45.58	46.66	46.13	none
South Texas Light Sweet	38.50	38.50	38.75	37.50	39.25	38.75	39.50	39.25	39.50	40.25	41.25	40.75	none
Southwest Wyoming Sweet	44.60	44.62	44.95	43.63	45.21	44.75	45.64	45.32	45.60	46.30	47.38	46.85	E
Uinta Basin Black Wax	41.05	41.07	41.40	40.08	41.66	41.20	42.09	41.77	42.05	42.75	43.83	43.30	B
West Texas Intermediate	40.50	40.50	40.75	39.50	41.25	40.75	41.50	41.25	41.50	42.25	43.25	42.75	none
West Texas Sour (34�)	35.75	35.75	36.00	34.75	36.50	36.00	36.75	36.50	36.75	37.50	38.50	38.00	none
Western Colorado	44.59	44.61	44.94	43.62	45.20	44.74	45.63	45.31	45.59	46.29	47.37	46.84	B

East of the Rockies	E160 08/17	E161 08/18	E162 08/19	E163 08/20	E164 08/23	E165 08/24	E166 08/25	E167 08/26	E168 08/27	E169 08/30	E170 08/31	Gvty Adj*	Mthly Avg
Altamont Yellow Wax	46.75	47.27	48.70	47.86	46.05	45.21	43.47	43.10	43.18	42.28	42.12		44.9800
Bonito Sour (Onshore)	44.25	44.75	46.25	45.25	43.50	42.75	41.00	40.50	40.75	39.75	39.50		42.4597
Deepwater Sour (Onshore) (30�)	41.50	42.00	43.50	42.75	40.75	40.00	38.25	38.00	38.00	37.00	37.00		39.7984
East Texas	43.00	43.50	45.25	44.25	42.50	41.75	40.00	39.50	39.50	38.75	38.50		41.4113
Eugene Island Sour (Onshore)	43.75	44.25	45.75	44.75	43.00	42.25	40.50	40.00	40.25	39.25	39.00		41.9597
Heavy Louisiana Sweet (Onshore)	45.25	46.00	47.25	46.50	44.75	43.75	42.00	41.75	41.75	41.00	40.75		43.6048
Light Louisiana Sweet (Onshore)	46.50	47.00	48.50	47.75	45.75	45.00	43.25	43.00	43.00	42.00	42.00		44.7903
New Mexico Intermediate	46.69	47.21	48.64	47.80	45.99	45.15	43.41	43.04	43.12	42.22	42.06		44.9200
New Mexico Sour (34�)	44.18	44.70	46.13	45.29	43.48	42.64	40.90	40.53	40.61	39.71	39.55		42.4100
North Texas Sweet	43.25	43.75	45.50	44.50	42.75	42.00	40.25	39.75	39.75	39.00	38.75		41.6613
Oklahoma Sour	44.18	44.70	46.13	45.29	43.48	42.64	40.90	40.53	40.61	39.71	39.55		42.4100
Oklahoma Sweet	46.83	47.35	48.78	47.94	46.13	45.29	43.55	43.18	43.26	42.36	42.20		45.0600
South Texas Light Sweet	41.25	41.75	43.50	42.50	40.75	40.00	38.25	37.75	37.75	37.00	36.75		39.6613
Southwest Wyoming Sweet	47.55	48.07	49.50	48.66	46.85	46.01	44.27	43.90	43.98	43.08	42.92		45.7800
Uinta Basin Black Wax	44.00	44.52	45.95	45.11	43.30	42.46	40.72	40.35	40.43	39.53	39.37		42.2300
West Texas Intermediate	43.25	43.75	45.50	44.50	42.75	42.00	40.25	39.75	39.75	39.00	38.75		41.6613
West Texas Sour (34�)	38.50	39.00	40.75	39.75	38.00	37.25	35.50	35.00	35.00	34.25	34.00		36.9113
Western Colorado	47.54	48.06	49.49	48.65	46.84	46.00	44.26	43.89	43.97	43.07	42.91		45.7700

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.