Chevron Crude Oil Marketing - North America - January 2009 East of the Rockies Summary

North America Crude Oil Marketing - January 2009 Summary East of the Rockies Bulletins 09-E1 to 09-E21, 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 01/05	E4 01/06	E5 01/07	E6 01/08	E7 01/09	E8 01/12	E9 01/13	E10 01/14	E11 01/15	Gvty Adj*
Altamont Yellow Wax	29.60	31.34	33.81	33.58	27.63	26.70	25.83	22.59	22.78	22.28	20.40	B
Bonito Sour (Onshore)	38.75	40.50	43.00	42.75	36.75	35.75	35.00	31.75	32.00	31.50	29.50	A
Deepwater Sour (Onshore) (30ï¿½)	37.25	39.00	41.50	41.25	35.25	34.50	33.50	30.25	30.50	30.00	28.00	F,G
East Texas	41.00	42.75	45.25	45.00	39.00	38.00	37.25	34.00	34.25	33.75	31.75	none
Eugene Island Sour (Onshore)	38.75	40.50	43.00	42.75	36.75	35.75	35.00	31.75	32.00	31.50	29.50	A
Heavy Louisiana Sweet (Onshore)	39.50	41.25	43.50	43.25	37.50	36.50	35.50	32.50	32.50	32.00	30.25	A
Light Louisiana Sweet (Onshore)	42.50	44.25	46.75	46.50	40.75	39.75	38.75	35.50	35.75	35.25	33.50	A
New Mexico Intermediate	41.25	43.00	45.50	45.25	39.25	38.25	37.50	34.25	34.50	34.00	32.00	none
New Mexico Sour (34ï¿½)	36.50	38.25	40.75	40.50	34.50	33.50	32.75	29.50	29.75	29.25	27.25	none
North Texas Sweet	41.25	43.00	45.50	45.25	39.25	38.25	37.50	34.25	34.50	34.00	32.00	none
Oklahoma Sour	36.50	38.25	40.75	40.50	34.50	33.50	32.75	29.50	29.75	29.25	27.25	none
Oklahoma Sweet	41.25	43.00	45.50	45.25	39.25	38.25	37.50	34.25	34.50	34.00	32.00	none
Rocky Mountain Condensate	22.60	24.34	26.81	26.58	20.63	19.70	18.83	15.59	15.78	15.28	13.40	H
South Texas Light Sweet	39.25	41.00	43.50	43.25	37.25	36.25	35.50	32.25	32.50	32.00	30.00	none
Southwest Wyoming Sweet	29.60	31.34	33.81	33.58	27.63	26.70	25.83	22.59	22.78	22.28	20.40	E
Uinta Basin Black Wax	28.60	30.34	32.81	32.58	26.63	25.70	24.83	21.59	21.78	21.28	19.40	B
West Texas Intermediate	41.25	43.00	45.50	45.25	39.25	38.25	37.50	34.25	34.50	34.00	32.00	none
West Texas Sour (34ï¿½)	36.50	38.25	40.75	40.50	34.50	33.50	32.75	29.50	29.75	29.25	27.25	none
Western Colorado	28.85	30.59	33.06	32.83	26.88	25.95	25.08	21.84	22.03	21.53	19.65	B

East of the Rockies	E12 01/16	E13 01/20	E14 01/21	E15 01/22	E16 01/23	E17 01/26	E18 01/27	E19 01/28	E20 01/29	E21 01/30	Mthly Avg
Altamont Yellow Wax	22.26	24.49	29.30	29.42	32.22	31.48	27.33	27.91	27.19	27.43	27.3729
Bonito Sour (Onshore)	30.75	33.00	37.75	37.75	40.50	39.75	35.75	36.25	35.50	35.75	36.1290
Deepwater Sour (Onshore) (30ï¿½)	29.25	31.50	36.25	36.25	39.25	38.50	34.25	34.75	34.00	34.25	34.6694
East Texas	33.00	35.25	40.00	40.00	43.00	42.25	38.00	38.50	37.75	38.00	38.4113
Eugene Island Sour (Onshore)	30.75	33.00	37.75	37.75	40.75	40.00	35.75	36.25	35.50	35.75	36.1613
Heavy Louisiana Sweet (Onshore)	31.25	33.50	38.25	38.50	41.25	40.50	36.25	37.00	36.25	36.50	36.7661
Light Louisiana Sweet (Onshore)	34.50	36.75	41.50	41.75	44.50	43.75	39.50	40.25	39.50	39.75	39.9758
New Mexico Intermediate	33.25	35.50	40.25	40.25	43.25	42.50	38.25	38.75	38.00	38.25	38.6613
New Mexico Sour (34ï¿½)	28.50	30.75	35.50	35.50	38.50	37.75	33.50	34.00	33.25	33.50	33.9113
North Texas Sweet	33.25	35.50	40.25	40.25	43.25	42.50	38.25	38.75	38.00	38.25	38.6613
Oklahoma Sour	28.50	30.75	35.50	35.50	38.50	37.75	33.50	34.00	33.25	33.50	33.9113
Oklahoma Sweet	33.25	35.50	40.25	40.25	43.25	42.50	38.25	38.75	38.00	38.25	38.6613
Rocky Mountain Condensate	14.51	16.74	21.55	21.67	24.47	23.73	19.58	20.16	19.44	19.68	19.9858
South Texas Light Sweet	31.25	33.50	38.25	38.25	41.25	40.50	36.25	36.75	36.00	36.25	36.6613
Southwest Wyoming Sweet	22.01	24.24	29.05	29.17	31.97	31.23	27.08	27.66	26.94	27.18	27.2439
Uinta Basin Black Wax	21.26	23.49	28.30	28.42	31.22	30.48	26.33	26.91	26.19	26.43	26.3729
West Texas Intermediate	33.25	35.50	40.25	40.25	43.25	42.50	38.25	38.75	38.00	38.25	38.6613
West Texas Sour (34ï¿½)	28.50	30.75	35.50	35.50	38.50	37.75	33.50	34.00	33.25	33.50	33.9113
Western Colorado	21.76	23.99	28.80	28.92	31.72	30.98	26.83	27.41	26.69	26.93	26.7519

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.