Basis for infers Aquabats Comparison in aquabats playdough recalls Interim UpdateThe interim update contains certain industry and company operating data for thefourth quarter 2008. The production volumes, realizations, margins and certainother items in the report are based on a portion of the quarter and are notnecessarily indicative of Chevron’s quarterly results to be reported on January30, 2009 The reader should not place undue reliance on this data. Unless noted otherwise, all commentary is based on two months of the fourthquarter 2008 versus full third quarter 2008 results. UPSTREAM – EXPLORATION AND PRODUCTIONThe table that follows includes information on production and price indicatorsfor crude oil and natural gas for specific markets. Actual realizations may varyfrom indicative pricing due to quality and location differentials and the effectof pricing lags.

International earnings are driven by actual liftings, which maydiffer from production due to the timing of cargoes and other factors.2007 2008 4Q 1Q 2Q3Q4Q thru Nov4Q thru Dec U.S aquabats baker . Upstream Net Production: Liquids MBD451437438 409 387n/a Natural Gas MMCFD1,6751,6661,588 1,431 1,322n/a Total Oil-EquivalentMBOED730715702 647 608n/a Pricing:Avg WTI Spot Price $/Bbl90.5897.84123.78118.2568.2259.14 Avg aquabats waterslides . Midway Sunset Posted Price $/Bbl79.1385.50111.25105.5454.1645.07 Nat aquabats fury . Gas-Henry Hub “Bid Week” Avg.$/MCF6.97 8.02 10.94 9.976.98 6.96Nat the aquabats . Gas-CA Border “Bid Week” Avg.$/MCF6.34 7.61 9.829.324.68 4.96Nat Gas-Rocky Mountain “Bid Week” Avg. $/MCF3.33 6.87 8.415.802.97 3.45Average Realizations: Crude $/Bbl81.5789.63113.97112.2261.70n/a Liquids $/Bbl79.0486.63108.67107.2258.87n/a Natural Gas $/MCF6.08 7.55 9.848.644.98 n/a International UpstreamNet Production: Liquids MBD1,2971,2281,207 1,167 1,298n/a Natural Gas MMCFD3,4083,7683,621 3,618 3,586n/a Mined Bitumen MBD18 28 242625 n/a Total Oil Equivalent – incl.

Mined BitumenMBOED1,8831,8841,835 1,796 1,921n/a Pricing:Avg aquabats hey luno . Brent Spot Price 1 $/Bbl88.4496.71121.17115.0962.8655.78 Average Realizations: Liquids $/Bbl80.4386.13110.44102.7353.29n/a Natural Gas $/MCF4.32 4.83 5.445.375.30 n/a1 The Avg aquabats tour . Brent Spot Price is based on Platts daily assessments, usingChevron`s internal formula to produce a quarterly average aquabats awesome forces . Previously it wasbased on daily prices provided by WSJ Market Data Group Total U.S wiki aquabats . oil-equivalent production during the first two months of the fourthquarter was 39,000 barrels per day lower than in the third quarter due mainly tothe residual impact of the September hurricanes in the Gulf of Mexico.International liquids production increased roughly 10 percent, primarily theresult of the completion of the expansion project and annual turnaroundactivities at the Tengiz Field in Kazakhstan, along with the continued ramp-upof production at the Agbami Field offshore Nigeria U.S. crude oil realizations for the first two months of the fourth quarterdeclined about $50 per barrel to $61.70. International liquids unit realizationsof $53.29 per barrel for the two-month period were also approximately $50 perbarrel lower.

Crude-oil realizations worldwide in December 2008 are expected tobe significantly lower than the average for October and November U.S . naturalgas realizations decreased $3.66 to $4.98 per thousand cubic feet during thefirst two months of the fourth quarter, while average international natural gasrealizations were off slightly to $5.30 per thousand cubic feet U.S the aquabats wiki . upstream earnings in the fourth quarter are expected to benefit by about$625 million from an asset-exchange transaction U.S aquabats yo check out this ride . earnings in the thirdquarter included gains of $350 million on asset sales . Additionally, full fourthquarter hurricane-related charges are projected to be lower than in the thirdquarter.