CHEVRON CORP — Director's Dealing 2007

May 7, 2007

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: CHEVRON CORP (CVX)
CIK: 0000093410
Period of Report: 2007-05-03

Reporting Person: BETHANCOURT JOHN E (Executive Vice President)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2007-05-03	Common Stock	M	1678	$67.14	Acquired	66855	Direct
2007-05-03	Common Stock	S	1678	$79.684	Disposed	65177	Direct
2007-05-03	Common Stock	S	1470	$79.6802	Disposed	63707	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2007-05-03	Non-Qualified Stock Option (Right to Buy)	$67.14	M	1678	Disposed	2007-07-01	Common Stock (1678)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	32223	Indirect

Footnotes

F1: This number includes dividend equivalent accruals (145 shares) from awards granted under the Chevron Long-Term Incentive Plan.

F2: Between February 28, 2007 and May 3, 2007, the reporting person acquired 391 shares of Chevron Corporation common stock under the Chevron Employee Savings Investment Plan, a 401(k) plan.

F3: This transaction is an exercise of a non-qualified stock option and the conversion price is reported in column 2.