North America Crude Oil Marketing - March 2007 Summary California Bulletins 07-CA40 to 07-CA60, 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	CA40 03/01	CA41 03/02	CA42 03/05	CA43 03/06	CA44 03/07	CA45 03/08	CA46 03/09	CA47 03/12	CA48 03/13	CA49 03/14	CA50 03/15
Buena Vista Hills		57.00	56.65	55.10	55.70	56.80	56.60	55.00	53.85	52.85	53.10	52.50
Coalinga		51.80	51.45	49.90	50.50	51.60	51.40	49.80	48.65	47.65	47.90	47.30
Huntington Beach		53.30	52.95	51.40	52.00	53.10	52.90	51.30	50.15	49.15	49.40	48.80
Kettleman Hills		60.40	60.05	58.50	59.10	60.20	60.00	58.40	57.25	56.25	56.50	55.90
Lost Hills		58.70	58.35	56.80	57.40	58.50	58.30	56.70	55.55	54.55	54.80	54.20
McKittrick		51.05	50.70	49.15	49.75	50.85	50.65	49.05	47.90	46.90	47.15	46.55
Midway Sunset		51.05	50.70	49.15	49.75	50.85	50.65	49.05	47.90	46.90	47.15	46.55
San Ardo		47.90	47.55	46.00	46.60	47.70	47.50	45.90	44.75	43.75	44.00	43.40
Seal Beach		58.00	57.65	56.10	56.70	57.80	57.60	56.00	54.85	53.85	54.10	53.50

California	API	CA51 03/16	CA52 03/19	CA53 03/20	CA54 03/21	CA55 03/22	CA56 03/23	CA57 03/26	CA58 03/28	CA59 03/29	CA60 03/30	Mthly Avg
Buena Vista Hills		52.05	51.55	51.70	54.55	56.65	57.25	57.85	59.00	60.95	60.80	55.7435
Coalinga		46.85	46.35	46.50	49.35	51.45	52.05	52.65	53.80	55.75	55.60	50.5435
Huntington Beach		48.35	47.85	48.00	50.85	52.95	53.55	54.15	55.30	57.25	57.10	52.0435
Kettleman Hills		55.45	54.95	55.10	57.95	60.05	60.65	61.25	62.40	64.35	64.20	59.1435
Lost Hills		53.75	53.25	53.40	56.25	58.35	58.95	59.55	60.70	62.65	62.50	57.4435
McKittrick		46.10	45.60	45.75	48.60	50.70	51.30	51.90	53.05	55.00	54.85	49.7935
Midway Sunset		46.10	45.60	45.75	48.60	50.70	51.30	51.90	53.05	55.00	54.85	49.7935
San Ardo		42.95	42.45	42.60	45.45	47.55	48.15	48.75	49.90	51.85	51.70	46.6435
Seal Beach		53.05	52.55	52.70	55.55	57.65	58.25	58.85	60.00	61.95	61.80	56.7435

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.