North America Crude Oil Marketing - September 2004 Summary California Bulletins 04-CA141 to 04-CA158, 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	CA141 09/01	CA142 09/03	CA143 09/07	CA144 09/08	CA145 09/09	CA146 09/10	CA147 09/13	CA148 09/14	CA149 09/15	CA150 09/17
Buena Vista Hills		38.70	37.95	37.20	36.70	38.45	36.70	37.70	38.20	37.45	39.20
Coalinga		35.10	34.35	33.60	33.10	34.85	33.10	34.10	34.60	33.85	35.60
Huntington Beach		36.10	35.35	34.60	34.10	35.85	34.10	35.10	35.60	34.85	36.60
Kettleman Hills		41.15	40.40	39.65	39.15	40.90	39.15	40.15	40.65	39.90	41.65
Lost Hills		40.15	39.40	38.65	38.15	39.90	38.15	39.15	39.65	38.90	40.65
McKittrick		34.50	33.75	33.00	32.50	34.25	32.50	33.50	34.00	33.25	35.00
Midway Sunset		34.50	33.75	33.00	32.50	34.25	32.50	33.50	34.00	33.25	35.00
Pt Arguello (onshore)		31.00	30.25	29.50	29.00	30.75	29.00	30.00	30.50	29.75	31.50
San Ardo		32.40	31.65	30.90	30.40	32.15	30.40	31.40	31.90	31.15	32.90
Seal Beach		39.45	38.70	37.95	37.45	39.20	37.45	38.45	38.95	38.20	39.95

California	API	CA151 09/20	CA152 09/21	CA153 09/22	CA154 09/23	CA155 09/24	CA156 09/27	CA157 09/28	CA158 09/29		Mthly Avg
Buena Vista Hills		39.95	40.70	42.20	41.95	42.20	42.70	42.95	42.45		39.4000
Coalinga		36.35	37.10	38.60	38.35	38.60	39.10	39.35	38.85		35.8000
Huntington Beach		37.35	38.10	39.60	39.35	39.60	40.10	40.35	39.80		36.7967
Kettleman Hills		42.40	43.15	44.65	44.40	44.65	45.15	45.40	44.90		41.8500
Lost Hills		41.40	42.15	43.65	43.40	43.65	44.15	44.40	43.90		40.8500
McKittrick		35.75	36.50	38.00	37.75	38.00	38.50	38.75	38.25		35.2000
Midway Sunset		35.75	36.50	38.00	37.75	38.00	38.50	38.75	38.25		35.2000
Pt Arguello (onshore)		32.25	33.00	34.50	34.25	34.50	35.00	35.25	34.50		31.6833
San Ardo		33.65	34.40	35.90	35.65	35.90	36.40	36.65	36.05		33.0933
Seal Beach		40.70	41.45	42.95	42.70	42.95	43.45	43.70	43.20		40.1500

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.