North America Crude Oil Marketing - May 2006 Summary California Bulletins 06-CA78 to 06-CA99, 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	CA78 05/01	CA79 05/02	CA80 05/03	CA81 05/04	CA82 05/05	CA83 05/08	CA84 05/09	CA85 05/10	CA86 05/11	CA87 05/12	CA88 05/15	CA89 05/16
Buena Vista Hills		66.85	67.80	65.50	63.15	63.40	63.00	64.00	65.45	66.65	65.40	62.80	62.95
Coalinga		62.35	63.30	61.00	58.65	58.90	58.50	59.50	60.95	62.15	60.90	58.30	58.45
Huntington Beach		63.60	64.55	62.25	59.90	60.15	59.75	60.75	62.20	63.40	62.15	59.55	59.70
Kettleman Hills		69.95	70.90	68.60	66.25	66.50	66.10	67.10	68.55	69.75	68.50	65.90	66.05
Lost Hills		68.60	69.55	67.25	64.90	65.15	64.75	65.75	67.20	68.40	67.15	64.55	64.70
McKittrick		61.65	62.60	60.30	57.95	58.20	57.80	58.80	60.25	61.45	60.20	57.60	57.75
Midway Sunset		61.65	62.60	60.30	57.95	58.20	57.80	58.80	60.25	61.45	60.20	57.60	57.75
Pt Arguello (onshore)		58.80	59.75	57.45	55.10	55.35	54.95	55.95	57.40	58.60	57.35	54.75	54.90
San Ardo		58.70	59.65	57.35	55.00	55.25	54.85	55.85	57.30	58.50	57.25	54.65	54.80
Seal Beach		67.75	68.70	66.40	64.05	64.30	63.90	64.90	66.35	67.55	66.30	63.70	63.85

California	API	CA90 05/17	CA91 05/18	CA92 05/19	CA93 05/22	CA94 05/23	CA95 05/24	CA96 05/25	CA97 05/26	CA98 05/30	CA99 05/31		Mthly Avg
Buena Vista Hills		62.15	62.90	61.95	62.80	65.05	63.25	64.70	64.85	65.60	64.90		64.2306
Coalinga		57.65	58.40	57.45	58.30	60.55	58.75	60.20	60.35	61.10	60.40		59.7306
Huntington Beach		58.90	59.65	58.70	59.55	61.80	60.00	61.45	61.60	62.35	61.65		60.9806
Kettleman Hills		65.25	66.00	65.05	65.90	68.15	66.35	67.80	67.95	68.70	68.00		67.3306
Lost Hills		63.90	64.65	63.70	64.55	66.80	65.00	66.45	66.60	67.35	66.65		65.9806
McKittrick		56.95	57.70	56.75	57.60	59.85	58.05	59.50	59.65	60.40	59.70		59.0306
Midway Sunset		56.95	57.70	56.75	57.60	59.85	58.05	59.50	59.65	60.40	59.70		59.0306
Pt Arguello (onshore)		54.10	54.85	53.90	54.75	57.00	55.20	56.65	56.80	57.55	56.85		56.1806
San Ardo		54.00	54.75	53.80	54.65	56.90	55.10	56.55	56.70	57.45	56.75		56.0806
Seal Beach		63.05	63.80	62.85	63.70	65.95	64.15	65.60	65.75	66.50	65.80		65.1306

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.