Chevron Crude Oil Marketing - North America - July 2016 California Summary

North America Crude Oil Marketing - July 2016 Summary California Bulletins 16-CA127 to 16-CA145, 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	CA127 07/05	CA128 07/06	CA129 07/07	CA131 07/11	CA132 07/12	CA133 07/13	CA134 07/14	CA135 07/15	CA136 07/18	CA137 07/19
Buena Vista Hills	43.85	44.93	42.64	42.76	45.05	43.00	44.18	44.45	43.74	43.40
Midway Sunset	39.30	40.38	38.09	38.21	40.50	38.45	39.63	39.90	39.19	38.85
Gravity Adjustment	Price Adjustment $/bbl/Tenth°API
Above 40.0°API	0.0000	0.0000	0.0000	0.0000	0.0000	0.0000	0.0000	0.0000	0.0000	0.0000
34.0° to 40.0°API	0.0100	0.0100	0.0100	0.0100	0.0100	0.0100	0.0100	0.0100	0.0100	0.0100
Below 34.0°API	0.0350	0.0350	0.0350	0.0350	0.0350	0.0350	0.0350	0.0350	0.0350	0.0350

California	CA138 07/20	CA139 07/21	CA140 07/22	CA141 07/25	CA142 07/26	CA143 07/27	CA144 07/28	CA145 07/29	Mthly Avg
Buena Vista Hills	43.69	43.50	42.94	41.88	41.97	40.97	40.19	40.65	43.1686
Midway Sunset	39.14	38.95	38.39	37.33	37.42	36.42	35.64	36.10	38.6186
Gravity Adjustment	Price Adjustment $/bbl/Tenth°API
Above 40.0°API	0.0000	0.0000	0.0000	0.0000	0.0000	0.0000	0.0000	0.0000	0.0000
34.0° to 40.0°API	0.0100	0.0100	0.0100	0.0100	0.0100	0.0100	0.0100	0.0100	0.0100
Below 34.0°API	0.0350	0.0350	0.0350	0.0350	0.0350	0.0350	0.0350	0.0350	0.0350

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.