Chevron Crude Oil Marketing - North America - January 2008 East of the Rockies Summary

North America Crude Oil Marketing - January 2008 Summary East of the Rockies Bulletins 08-E1 to 08-E22, with Monthly Averages

Chevron has changed its posted prices as shown below:

Effective 7:00 a.m. on the date(s) indicated, and subject to change without notice and subject to the terms and conditions of its division orders or other contracts, Chevron will pay the following prices ($/bbl) for oil at 40.0° API and above, except as noted below, delivered into pipelines for its account into the custody of its authorized carrier or receiving agent. The posted prices for crude oil transported by truck or barge will be the following prices less appropriate trucking or barge cost. The posted prices for crude oil received off shore will be the following prices less appropriate transportation and quality costs to get the crude on shore. Regarding technical issues of Chevron's most recent posted prices, call Christine Mathwig 832-854-5159.

POSTINGS WILL BE DISCONTINUED AS OF 8/1/19

* Prices are subject to a Gravity Adjustment Scale

East of the Rockies	E1 01/01	E2 01/02	E3 01/03	E4 01/04	E5 01/07	E6 01/08	E7 01/09	E8 01/10	E9 01/11	E10 01/14	E11 01/15	E12 01/16	Gvty Adj*
Altamont Yellow Wax	82.48	86.12	85.68	84.41	81.59	82.83	82.17	80.21	79.19	80.70	78.40	77.34	B
Bonito Sour (Onshore)	96.50	100.00	99.50	98.25	95.50	96.75	96.00	94.00	93.00	94.50	92.25	91.25	A
Deepwater Sour (Onshore) (30ï¿½)	88.25	92.00	91.50	90.25	87.50	88.75	88.00	86.00	85.00	86.50	84.25	83.25	F,G
East Texas	92.50	96.00	95.50	94.25	91.50	92.75	92.00	90.25	89.00	90.50	88.25	87.25	none
Eugene Island Sour (Onshore)	96.50	100.00	99.50	98.25	95.50	96.75	96.00	94.00	93.00	94.50	92.25	91.25	A
Heavy Louisiana Sweet (Onshore)	99.00	102.50	102.00	100.75	98.00	99.25	98.50	96.50	95.50	97.00	94.75	93.75	A
Light Louisiana Sweet (Onshore)	99.50	103.00	102.50	101.25	98.50	99.75	99.00	97.00	96.00	97.50	95.25	94.25	A
New Mexico Intermediate	92.75	96.25	95.75	94.50	91.75	93.00	92.25	90.50	89.25	90.75	88.50	87.50	none
New Mexico Sour (34ï¿½)	88.00	91.50	91.00	89.75	87.00	88.25	87.50	85.75	84.50	86.00	83.75	82.75	none
North Texas Sweet	92.75	96.25	95.75	94.50	91.75	93.00	92.25	90.50	89.25	90.75	88.50	87.50	none
Oklahoma Sour	88.00	91.50	91.00	89.75	87.00	88.25	87.50	85.75	84.50	86.00	83.75	82.75	none
Oklahoma Sweet	92.75	96.25	95.75	94.50	91.75	93.00	92.25	90.50	89.25	90.75	88.50	87.50	none
Rocky Mountain Condensate	74.98	78.62	78.18	76.91	74.09	75.33	74.67	72.71	71.69	73.20	70.90	69.84	H
South Texas Light Sweet	90.75	94.25	93.75	92.50	89.75	91.00	90.25	88.50	87.25	88.75	86.50	85.50	none
Southwest Wyoming Sweet	87.48	91.12	90.68	89.41	86.59	87.83	87.17	85.21	84.19	85.70	83.40	82.34	E
Uinta Basin Black Wax	81.48	85.12	84.68	83.41	80.59	81.83	81.17	79.21	78.19	79.70	77.40	76.34	B
West Texas Intermediate	92.75	96.25	95.75	94.50	91.75	93.00	92.25	90.50	89.25	90.75	88.50	87.50	none
West Texas Sour (34ï¿½)	88.00	91.50	91.00	89.75	87.00	88.25	87.50	85.75	84.50	86.00	83.75	82.75	none
Western Colorado	83.98	87.62	87.18	85.91	83.09	84.33	83.67	81.71	80.69	82.20	79.90	78.84	B

East of the Rockies	E13 01/17	E14 01/18	E15 01/22	E16 01/23	E17 01/24	E18 01/25	E19 01/28	E20 01/29	E21 01/30	E22 01/31	Mthly Avg
Altamont Yellow Wax	76.63	77.07	76.35	73.49	75.91	77.21	77.49	78.14	78.83	78.25	79.4619
Bonito Sour (Onshore)	90.50	91.00	90.25	87.50	89.75	91.00	91.50	92.00	92.75	92.25	93.3387
Deepwater Sour (Onshore) (30ï¿½)	82.50	83.00	82.25	79.25	81.75	83.00	83.25	84.00	84.75	84.00	85.3065
East Texas	86.50	87.00	86.25	83.50	85.75	87.25	87.50	88.00	88.75	88.25	89.3710
Eugene Island Sour (Onshore)	90.50	91.00	90.25	87.50	89.75	91.00	91.50	92.00	92.75	92.25	93.3387
Heavy Louisiana Sweet (Onshore)	93.00	93.50	92.75	90.00	92.25	93.50	94.00	94.50	95.25	94.75	95.8387
Light Louisiana Sweet (Onshore)	93.50	94.00	93.25	90.50	92.75	94.00	94.50	95.00	95.75	95.25	96.3387
New Mexico Intermediate	86.75	87.25	86.50	83.75	86.00	87.50	87.75	88.25	89.00	88.50	89.6210
New Mexico Sour (34ï¿½)	82.00	82.50	81.75	79.00	81.25	82.75	83.00	83.50	84.25	83.75	84.8710
North Texas Sweet	86.75	87.25	86.50	83.75	86.00	87.50	87.75	88.25	89.00	88.50	89.6210
Oklahoma Sour	82.00	82.50	81.75	79.00	81.25	82.75	83.00	83.50	84.25	83.75	84.8710
Oklahoma Sweet	86.75	87.25	86.50	83.75	86.00	87.50	87.75	88.25	89.00	88.50	89.6210
Rocky Mountain Condensate	69.13	69.57	68.85	65.99	68.41	69.71	69.99	70.64	71.33	70.75	71.9619
South Texas Light Sweet	84.75	85.25	84.50	81.75	84.00	85.50	85.75	86.25	87.00	86.50	87.6210
Southwest Wyoming Sweet	81.63	82.07	81.35	78.49	80.91	82.21	82.49	83.14	83.83	83.25	84.4619
Uinta Basin Black Wax	75.63	76.07	75.35	72.49	74.91	76.21	76.49	77.14	77.83	77.25	78.4619
West Texas Intermediate	86.75	87.25	86.50	83.75	86.00	87.50	87.75	88.25	89.00	88.50	89.6210
West Texas Sour (34ï¿½)	82.00	82.50	81.75	79.00	81.25	82.75	83.00	83.50	84.25	83.75	84.8710
Western Colorado	78.13	78.57	77.85	74.99	77.41	78.71	78.99	79.64	80.33	79.75	80.9619

Note: Prices in $/bbl

Measurement
The prices are based upon computation of quantities by mutually acceptable automatic measuring equipment in accordance with provisions of API Standard 1101 or from 100% tank tables with corrections of volume and gravity for temperature to 60°F in accordance with ASTM D-1250 and supplements thereto, if any, and with deductions for full sediment, water and other impurities. Only merchantable oil acceptable to the receiving agency designated by Chevron and containing not more than 1% sediment and water will be accepted.