North America Crude Oil Marketing - December 2006 Summary California Bulletins 06-CA222 to 06-CA240, 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	CA222 12/01	CA223 12/04	CA224 12/06	CA225 12/07	CA226 12/08	CA227 12/11	CA228 12/12	CA229 12/13	CA230 12/14	CA231 12/15
Buena Vista Hills		57.25	56.25	56.00	56.30	55.85	55.05	54.95	55.40	56.55	57.50
Coalinga		52.35	51.35	51.10	51.40	50.95	50.15	49.95	50.40	51.55	52.50
Huntington Beach		53.75	52.75	52.50	52.80	52.35	51.55	51.40	51.85	53.00	53.95
Kettleman Hills		60.55	59.55	59.30	59.60	59.15	58.35	58.35	58.80	59.95	60.90
Lost Hills		59.10	58.10	57.85	58.15	57.70	56.90	56.85	57.30	58.45	59.40
McKittrick		51.65	50.65	50.40	50.70	50.25	49.45	49.25	49.70	50.85	51.80
Midway Sunset		51.65	50.65	50.40	50.70	50.25	49.45	49.25	49.70	50.85	51.80
Pt Arguello (onshore)		48.70	47.70	47.45	47.75	47.30	46.50	46.30	46.75	47.90	48.85
San Ardo		48.55	47.55	47.30	47.60	47.15	46.35	46.15	46.60	47.75	48.70
Seal Beach		58.20	57.20	56.95	57.25	56.80	56.00	55.90	56.35	57.50	58.45

California	API	CA232 12/18	CA233 12/19	CA234 12/20	CA235 12/21	CA236 12/22	CA237 12/26	CA238 12/27	CA239 12/28	CA240 12/29	Mthly Avg
Buena Vista Hills		56.30	57.35	57.60	56.55	56.30	55.00	54.30	54.55	55.15	56.1565
Coalinga		51.30	52.35	52.60	51.55	51.30	50.00	49.30	49.55	50.15	51.1919
Huntington Beach		52.75	53.80	54.05	53.00	52.75	51.45	50.75	51.00	51.60	52.6242
Kettleman Hills		59.70	60.75	61.00	59.95	59.70	58.40	57.70	57.95	58.55	59.5210
Lost Hills		58.20	59.25	59.50	58.45	58.20	56.90	56.20	56.45	57.05	58.0387
McKittrick		50.60	51.65	51.90	50.85	50.60	49.30	48.60	48.85	49.45	50.4919
Midway Sunset		50.60	51.65	51.90	50.85	50.60	49.30	48.60	48.85	49.45	50.4919
Pt Arguello (onshore)		47.65	48.70	48.95	47.90	47.65	46.35	45.65	45.90	46.50	47.5419
San Ardo		47.50	48.55	48.80	47.75	47.50	46.20	45.50	45.75	46.35	47.3919
Seal Beach		57.25	58.30	58.55	57.50	57.25	55.95	55.25	55.50	56.10	57.1065

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.