North America Crude Oil Marketing - January 2008 Summary California Bulletins 08-CA1 to 08-CA21, 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	CA1 01/02	CA2 01/03	CA3 01/04	CA4 01/07	CA5 01/08	CA6 01/09	CA7 01/10	CA8 01/11	CA9 01/14	CA10 01/15	CA11 01/16
Buena Vista Hills		93.85	93.40	92.15	89.40	90.65	90.05	88.05	87.05	88.45	86.15	85.10
Coalinga		88.50	88.05	86.80	84.05	85.30	84.70	82.70	81.70	83.10	80.80	79.75
Huntington Beach		90.05	89.60	88.35	85.60	86.85	86.25	84.25	83.25	84.65	82.35	81.30
Kettleman Hills		97.35	96.90	95.65	92.90	94.15	93.55	91.55	90.55	91.95	89.65	88.60
Lost Hills		95.60	95.15	93.90	91.15	92.40	91.80	89.80	88.80	90.20	87.90	86.85
McKittrick		87.75	87.30	86.05	83.30	84.55	83.95	81.95	80.95	82.35	80.05	79.00
Midway Sunset		87.75	87.30	86.05	83.30	84.55	83.95	81.95	80.95	82.35	80.05	79.00
Seal Beach		94.85	94.40	93.15	90.40	91.65	91.05	89.05	88.05	89.45	87.15	86.10

California	API	CA12 01/17	CA13 01/18	CA14 01/22	CA15 01/23	CA16 01/24	CA17 01/25	CA18 01/28	CA19 01/29	CA20 01/30	CA21 01/31	Mthly Avg
Buena Vista Hills		84.40	84.80	84.10	81.15	83.45	84.75	84.95	85.50	86.10	85.40	85.5922
Coalinga		79.05	79.45	78.65	75.70	78.00	79.30	79.50	80.05	80.65	79.95	80.2078
Huntington Beach		80.60	81.00	80.25	77.30	79.60	80.90	81.10	81.65	82.25	81.55	81.7359
Kettleman Hills		87.90	88.30	87.65	84.70	87.00	88.30	88.50	89.05	89.65	88.95	89.1094
Lost Hills		86.15	86.55	85.85	82.90	85.20	86.50	86.70	87.25	87.85	87.15	87.3422
McKittrick		78.30	78.70	77.90	74.95	77.25	78.55	78.75	79.30	79.90	79.20	79.4578
Midway Sunset		78.30	78.70	77.90	74.95	77.25	78.55	78.75	79.30	79.90	79.20	79.4578
Seal Beach		85.40	85.80	85.15	82.20	84.50	85.80	86.00	86.55	87.15	86.45	86.5625

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.