North America Crude Oil Marketing - February 2005 Summary California Bulletins 05-CA18 to 05-CA32, 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	CA18 02/01	CA19 02/02	CA20 02/03	CA21 02/07	CA22 02/09	CA23 02/10	CA24 02/14	CA25 02/15
Buena Vista Hills		37.15	36.90	36.65	35.40	35.65	37.40	37.65	37.40
Coalinga		33.00	32.75	32.50	31.25	31.45	33.20	33.40	33.15
Huntington Beach		34.15	33.90	33.65	32.40	32.60	34.35	34.55	34.30
Kettleman Hills		40.00	39.75	39.50	38.25	38.50	40.25	40.55	40.30
Lost Hills		38.80	38.55	38.30	37.05	37.30	39.05	39.30	39.05
McKittrick		32.35	32.10	31.85	30.60	30.80	32.55	32.75	32.50
Midway Sunset		32.35	32.10	31.85	30.60	30.80	32.55	32.75	32.50
Pt Arguello (onshore)		28.60	28.30	28.05	26.80	27.00	28.75	28.95	28.70
San Ardo		30.05	29.75	29.50	28.25	28.45	30.20	30.40	30.15
Seal Beach		37.95	37.70	37.45	36.20	36.50	38.25	38.50	38.25

California	API	CA26 02/16	CA27 02/17	CA28 02/18	CA29 02/22	CA30 02/23	CA31 02/25	CA32 02/28	Mthly Avg
Buena Vista Hills		38.40	37.65	38.65	41.40	41.15	41.65	41.90	38.3196
Coalinga		34.15	33.40	34.40	37.15	36.90	37.40	37.65	34.1071
Huntington Beach		35.30	34.55	35.55	38.30	38.05	38.55	38.80	35.2571
Kettleman Hills		41.30	40.55	41.55	44.30	44.05	44.55	44.80	41.1964
Lost Hills		40.05	39.30	40.30	43.05	42.80	43.30	43.55	39.9696
McKittrick		33.50	32.75	33.75	36.50	36.25	36.75	37.00	33.4571
Midway Sunset		33.50	32.75	33.75	36.50	36.25	36.75	37.00	33.4571
Pt Arguello (onshore)		29.70	28.95	29.95	32.70	32.45	32.95	33.20	29.6589
San Ardo		31.15	30.40	31.40	34.15	33.90	34.40	34.65	31.1089
Seal Beach		39.25	38.50	39.50	42.25	42.00	42.50	42.75	39.1554

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.