CHEVRON CORP — Director's Dealing 2006

Nov 9, 2006

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: CHEVRON CORP (CVX)
CIK: 0000093410
Period of Report: 2006-11-07

Reporting Person: WATSON JOHN S (Vice Pres. and Pres. CIEP)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2006-11-07	Common Stock	M	66000	$44.275	Acquired	92682	Direct
2006-11-07	Common Stock	S	4600	$69.15	Disposed	88082	Direct
2006-11-07	Common Stock	S	100	$69.01	Disposed	87982	Direct
2006-11-07	Common Stock	S	400	$69.00	Disposed	87582	Direct
2006-11-07	Common Stock	S	1800	$68.99	Disposed	85782	Direct
2006-11-07	Common Stock	S	900	$68.98	Disposed	84882	Direct
2006-11-07	Common Stock	S	1500	$68.96	Disposed	83382	Direct
2006-11-07	Common Stock	S	1900	$68.97	Disposed	81482	Direct
2006-11-07	Common Stock	S	3400	$68.95	Disposed	78082	Direct
2006-11-07	Common Stock	S	2100	$68.94	Disposed	75982	Direct
2006-11-07	Common Stock	S	3000	$68.93	Disposed	72982	Direct
2006-11-07	Common Stock	S	2300	$68.92	Disposed	70682	Direct
2006-11-07	Common Stock	S	5900	$68.91	Disposed	64782	Direct
2006-11-07	Common Stock	S	9700	$68.90	Disposed	55082	Direct
2006-11-07	Common Stock	S	6200	$68.89	Disposed	48882	Direct
2006-11-07	Common Stock	S	8600	$68.88	Disposed	40282	Direct
2006-11-07	Common Stock	S	1900	$68.87	Disposed	38382	Direct
2006-11-07	Common Stock	S	2800	$68.86	Disposed	35582	Direct
2006-11-07	Common Stock	S	2700	$68.84	Disposed	32882	Direct
2006-11-07	Common Stock	S	2700	$68.83	Disposed	30182	Direct
2006-11-07	Common Stock	S	3200	$68.82	Disposed	26982	Direct
2006-11-07	Common Stock	S	300	$68.81	Disposed	26682	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2006-11-07	Non-Qualified Stock Option (Right to Buy)	$44.275	M	66000	Disposed	2011-10-31	Common Stock (66000)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	16682	Indirect

Footnotes

F1: This number includes dividend equivalent accruals (459 shares) from awards granted under the Chevron Long-Term Incentive Plan.

F2: Between May 4, 2006 and November 6, 2006, the reporting person acquired 288 shares of Chevron Corporation common stock under the Chevron Employee Savings Investment Plan, a 401(k) plan.

F3: The option exercise price and number of shares are adjusted for the September 10, 2004, 2-for-1 stock split of Chevron Corporation common stock.