Quarterly Results and Stock Market Data

Deliver Energy Now

Develop Energy for the Future

Apply Innovative Technology

Diversify Energy Supplies

Protect the Environment

Human & Economic Progress

Chevron People

What It Takes

	2008	2007
¹ Includes excise, value-added and similar taxes:	$2,080	$2,577	$2,652	$2,537	$2,548	$2,550	$2,609	$2,414
² End of day price.
Revenues and Other Income
Sales and other operating revenues¹	$43,145	$76,192	$80,962	$64,659	$59,900	$53,545	$54,344	$46,302
Income from equity affiliates	886	1,673	1,563	1,244	1,153	1,160	894	937
Other income	1,172	1,002	464	43	357	468	856	988
Total Revenues and Other Income	45,203	78,867	82,989	65,946	61,410	55,173	56,094	48,227
Costs and Other Deductions
Purchased crude oil and products	23,575	49,238	56,056	42,528	38,056	33,988	33,138	28,127
Operating expenses	5,416	5,676	5,248	4,455	4,798	4,397	4,124	3,613
Selling, general and administrative expenses	1,492	1,278	1,639	1,347	1,833	1,446	1,516	1,131
Exploration expenses	338	271	307	253	449	295	273	306
Depreciation, depletion and amortization	2,589	2,449	2,275	2,215	2,094	2,495	2,156	1,963
Taxes other than on income¹	4,547	5,614	5,699	5,443	5,560	5,538	5,743	5,425
Interest and debt expense	-	-	-	-	7	22	63	74
Minority interests	6	32	34	28	35	25	19	28
Total Costs and Other Deductions	37,963	64,558	71,258	56,269	52,832	48,206	47,032	40,667
Income Before Income Tax Expense	7,240	14,309	11,731	9,677	8,578	6,967	9,062	7,560
Income Tax Expense	2,345	6,416	5,756	4,509	3,703	3,249	3,682	2,845
Net Income	$4,895	$7,893	$5,975	$5,168	$4,875	$3,718	$5,380	$4,715
Per-Share of Common Stock
Net Income
– Basic	$2.45	$3.88	$2.91	$2.50	$2.34	$1.77	$2.52	$2.20
– Diluted	$2.44	$3.85	$2.90	$2.48	$2.32	$1.75	$2.52	$2.18
Dividends	$0.65	$0.65	$0.65	$0.58	$0.58	$0.58	$0.58	$0.52
Common Stock Price Range — High²	$82.20	$99.08	$103.09	$94.61	$94.86	$94.84	$84.24	$74.95
Common Stock Price Range — Low²	$57.83	$77.50	$86.74	$77.51	$83.79	$80.76	$74.83	$66.43

2008

2007

Millions of dollars, except per-share amounts

4th Q

3rd Q

2nd Q

1st Q

4th Q

3rd Q

2nd Q

1st Q

Includes excise, value-added and similar taxes:

$2,080

$2,577

$2,652

$2,537

$2,548

$2,550

$2,609

$2,414

End of day price.

Revenues and Other Income

Sales and other operating revenues¹

$43,145

$76,192

$80,962

$64,659

$59,900

$53,545

$54,344

$46,302

Income from equity affiliates

886

1,673

1,563

1,244

1,153

1,160

894

937

Other income

1,172

1,002

464

357

468

856

988

Total Revenues and Other Income

45,203

78,867

82,989

65,946

61,410

55,173

56,094

48,227

Costs and Other Deductions

Purchased crude oil and products

23,575

49,238

56,056

42,528

38,056

33,988

33,138

28,127

Operating expenses

5,416

5,676

5,248

4,455

4,798

4,397

4,124

3,613

Selling, general and administrative expenses

1,492

1,278

1,639

1,347

1,833

1,446

1,516

1,131

Exploration expenses

338

271

307

253

449

295

273

306

Depreciation, depletion and amortization

2,589

2,449

2,275

2,215

2,094

2,495

2,156

1,963

Taxes other than on income¹

4,547

5,614

5,699

5,443

5,560

5,538

5,743

5,425

Interest and debt expense

Minority interests

Total Costs and Other Deductions

37,963

64,558

71,258

56,269

52,832

48,206

47,032

40,667

Income Before Income Tax Expense

7,240

14,309

11,731

9,677

8,578

6,967

9,062

7,560

Income Tax Expense

2,345

6,416

5,756

4,509

3,703

3,249

3,682

2,845

Net Income

$4,895

$7,893

$5,975

$5,168

$4,875

$3,718

$5,380

$4,715

Per-Share of Common Stock

Net Income

– Basic

$2.45

$3.88

$2.91

$2.50

$2.34

$1.77

$2.52

$2.20

– Diluted

$2.44

$3.85

$2.90

$2.48

$2.32

$1.75

$2.52

$2.18

Dividends

$0.65

$0.58

$0.52

Common Stock Price Range — High²

$82.20

$99.08

$103.09

$94.61

$94.86

$94.84

$84.24

$74.95

Common Stock Price Range — Low²

$57.83

$77.50

$86.74

$77.51

$83.79

$80.76

$74.83

$66.43