Chevron Crude Oil Marketing - North America - May 2005 East of the Rockies Summary

North America Crude Oil Marketing - May 2005 Summary East of the Rockies Bulletins 05-E84 to 05-E105, 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	E84 05/01	E85 05/02	E86 05/03	E87 05/04	E88 05/05	E89 05/06	E90 05/09	E91 05/10	E92 05/11	E93 05/12	E94 05/13	E95 05/16	Gvty Adj*
Altamont Yellow Wax	49.22	50.42	49.00	49.63	50.33	50.46	51.53	51.57	49.95	48.04	48.17	48.11	B
Bonito Sour (Onshore)	44.75	45.75	44.50	45.00	45.75	46.00	47.00	47.00	45.50	43.50	43.50	43.50	A
Deepwater Sour (Onshore) (30ï¿½)	41.00	42.00	40.75	41.25	42.00	42.25	43.25	43.25	41.50	39.75	39.75	39.75	F,G
East Texas	46.25	47.25	46.00	46.50	47.25	47.50	48.25	48.50	47.00	45.00	45.00	45.00	none
Eugene Island Sour (Onshore)	44.00	45.25	43.75	44.50	45.25	45.25	46.25	46.50	44.75	42.75	43.00	43.00	A
Heavy Louisiana Sweet (Onshore)	46.50	47.75	46.25	46.75	47.50	47.75	48.75	48.75	47.25	45.25	45.50	45.25	A
Light Louisiana Sweet (Onshore)	48.25	49.50	48.00	48.75	49.50	49.50	50.75	50.75	49.00	47.25	47.25	47.25	A
New Mexico Intermediate	48.09	49.29	47.87	48.50	49.20	49.33	50.40	50.44	48.82	46.91	47.04	46.98	none
New Mexico Sour (34ï¿½)	42.57	43.77	42.35	42.98	43.68	43.81	44.88	44.92	43.30	41.39	41.52	41.46	none
North Texas Sweet	46.50	47.50	46.25	46.75	47.50	47.75	48.50	48.75	47.25	45.25	45.25	45.25	none
Oklahoma Sour	42.57	43.77	42.35	42.98	43.68	43.81	44.88	44.92	43.30	41.39	41.52	41.46	none
Oklahoma Sweet	48.23	49.43	48.01	48.64	49.34	49.47	50.54	50.58	48.96	47.05	47.18	47.12	none
South Texas Light Sweet	44.50	45.50	44.25	44.75	45.50	45.75	46.50	46.75	45.25	43.25	43.25	43.25	none
Southwest Wyoming Sweet	50.77	51.97	50.55	51.18	51.88	52.01	53.08	53.12	51.50	49.59	49.72	49.66	E
Uinta Basin Black Wax	46.47	47.67	46.25	46.88	47.58	47.71	48.78	48.82	47.20	45.29	45.42	45.36	B
West Texas Intermediate	46.50	47.50	46.25	46.75	47.50	47.75	48.50	48.75	47.25	45.25	45.25	45.25	none
West Texas Sour (34ï¿½)	41.75	42.75	41.50	42.00	42.75	43.00	43.75	44.00	42.50	40.50	40.50	40.50	none
Western Colorado	50.51	51.71	50.29	50.92	51.62	51.75	52.82	52.86	51.24	49.33	49.46	49.40	B

East of the Rockies	E96 05/17	E97 05/18	E98 05/19	E99 05/20	E100 05/23	E101 05/24	E102 05/25	E103 05/26	E104 05/27	E105 05/31	Mthly Avg
Altamont Yellow Wax	48.47	46.75	46.46	46.30	48.66	49.17	50.48	50.51	51.35	51.47	49.3535
Bonito Sour (Onshore)	44.00	42.25	42.00	41.75	44.00	44.50	46.00	46.00	46.75	47.00	44.7984
Deepwater Sour (Onshore) (30ï¿½)	40.25	38.50	38.25	38.00	40.25	40.75	42.25	42.25	43.00	43.25	41.0403
East Texas	45.50	43.75	43.50	43.25	45.50	46.00	47.50	47.50	48.25	48.50	46.2903
Eugene Island Sour (Onshore)	43.25	41.50	41.25	41.25	43.50	44.00	45.25	45.25	46.25	46.25	44.1855
Heavy Louisiana Sweet (Onshore)	45.75	44.00	43.75	43.50	46.00	46.50	47.75	47.75	48.50	48.75	46.5968
Light Louisiana Sweet (Onshore)	47.50	45.75	45.50	45.50	47.75	48.25	49.50	49.50	50.50	50.50	48.4516
New Mexico Intermediate	47.34	45.62	45.33	45.17	47.53	48.04	49.35	49.38	50.22	50.34	48.2235
New Mexico Sour (34ï¿½)	41.82	40.10	39.81	39.65	42.01	42.52	43.83	43.86	44.70	44.82	42.7035
North Texas Sweet	45.75	44.00	43.75	43.50	45.75	46.25	47.75	47.75	48.50	48.75	46.5403
Oklahoma Sour	41.82	40.10	39.81	39.65	42.01	42.52	43.83	43.86	44.70	44.82	42.7035
Oklahoma Sweet	47.48	45.76	45.47	45.31	47.67	48.18	49.49	49.52	50.36	50.48	48.3635
South Texas Light Sweet	43.75	42.00	41.75	41.50	43.75	44.25	45.75	45.75	46.50	46.75	44.5403
Southwest Wyoming Sweet	50.02	48.30	48.01	47.85	50.21	50.72	52.03	52.06	52.90	53.02	50.9035
Uinta Basin Black Wax	45.72	44.00	43.71	43.55	45.91	46.42	47.73	47.76	48.60	48.72	46.6035
West Texas Intermediate	45.75	44.00	43.75	43.50	45.75	46.25	47.75	47.75	48.50	48.75	46.5403
West Texas Sour (34ï¿½)	41.00	39.25	39.00	38.75	41.00	41.50	43.00	43.00	43.75	44.00	41.7903
Western Colorado	49.76	48.04	47.75	47.59	49.95	50.46	51.77	51.80	52.64	52.76	50.6435

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.