North America Crude Oil Marketing - July 2005 Summary California Bulletins 05-CA107 to 05-CA126, 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	CA107 07/01	CA108 07/05	CA109 07/06	CA110 07/07	CA111 07/08	CA112 07/11	CA113 07/12	CA114 07/13	CA115 07/14	CA116 07/15	CA117 07/18
Buena Vista Hills		52.00	52.90	54.65	54.15	53.15	52.55	54.30	53.80	51.60	51.90	51.20
Coalinga		47.65	48.55	50.30	49.80	48.80	48.20	49.95	49.45	47.25	47.55	46.85
Huntington Beach		48.90	49.80	51.55	51.05	50.05	49.45	51.20	50.70	48.50	48.80	48.10
Kettleman Hills		54.95	55.85	57.60	57.10	56.10	55.50	57.25	56.75	54.55	54.85	54.15
Lost Hills		53.70	54.60	56.35	55.85	54.85	54.25	56.00	55.50	53.30	53.60	52.90
McKittrick		47.00	47.90	49.65	49.15	48.15	47.55	49.30	48.80	46.60	46.90	46.20
Midway Sunset		47.00	47.90	49.65	49.15	48.15	47.55	49.30	48.80	46.60	46.90	46.20
Pt Arguello (onshore)		43.40	44.30	46.05	45.55	44.55	43.95	45.70	45.20	43.00	43.30	42.60
San Ardo		44.55	45.45	47.10	46.55	45.50	44.90	46.60	46.05	43.80	44.05	43.30
Seal Beach		52.85	53.75	55.50	55.00	54.00	53.40	55.15	54.65	52.45	52.75	52.05

California	API	CA118 07/19	CA119 07/20	CA120 07/21	CA121 07/22	CA122 07/25	CA123 07/26	CA124 07/27	CA125 07/28	CA126 07/29		Mthly Avg
Buena Vista Hills		51.35	50.65	49.75	51.30	52.00	52.45	52.65	53.80	54.75		52.5516
Coalinga		47.00	46.30	45.40	46.95	47.65	48.10	48.30	49.45	50.40		48.2016
Huntington Beach		48.25	47.55	46.65	48.20	48.90	49.35	49.55	50.70	51.65		49.4516
Kettleman Hills		54.30	53.60	52.70	54.25	54.95	55.40	55.60	56.75	57.70		55.5016
Lost Hills		53.05	52.35	51.45	53.00	53.70	54.15	54.35	55.50	56.45		54.2516
McKittrick		46.35	45.65	44.75	46.30	47.00	47.45	47.65	48.80	49.75		47.5516
Midway Sunset		46.35	45.65	44.75	46.30	47.00	47.45	47.65	48.80	49.75		47.5516
Pt Arguello (onshore)		42.75	42.05	41.15	42.70	43.40	43.85	44.05	45.20	46.15		43.9516
San Ardo		43.45	42.75	41.85	43.40	44.10	44.55	44.75	45.90	46.85		44.7968
Seal Beach		52.20	51.50	50.60	52.15	52.85	53.30	53.50	54.65	55.60		53.4016

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.