CHEVRON CORP — Director's Dealing 2008

May 9, 2008

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: CHEVRON CORP (CVX)
CIK: 0000093410
Period of Report: 2008-05-07

Reporting Person: WATSON JOHN S (Executive Vice President)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2008-05-07	Common Stock	M	120000	$36.7	Acquired	141166	Direct
2008-05-07	Common Stock	M	120000	$47.055	Acquired	261166	Direct
2008-05-07	Common Stock	S	500	$95.15	Disposed	260666	Direct
2008-05-07	Common Stock	S	400	$95.16	Disposed	260266	Direct
2008-05-07	Common Stock	S	1200	$95.17	Disposed	259066	Direct
2008-05-07	Common Stock	S	400	$95.18	Disposed	258666	Direct
2008-05-07	Common Stock	S	279	$95.19	Disposed	258387	Direct
2008-05-07	Common Stock	S	200	$95.2	Disposed	258187	Direct
2008-05-07	Common Stock	S	300	$95.21	Disposed	257887	Direct
2008-05-07	Common Stock	S	600	$95.22	Disposed	257287	Direct
2008-05-07	Common Stock	S	2637	$95.23	Disposed	254650	Direct
2008-05-07	Common Stock	S	3800	$95.24	Disposed	250850	Direct
2008-05-07	Common Stock	S	5163	$95.25	Disposed	245687	Direct
2008-05-07	Common Stock	S	700	$95.26	Disposed	244987	Direct
2008-05-07	Common Stock	S	2400	$95.34	Disposed	242587	Direct
2008-05-07	Common Stock	S	2107	$95.33	Disposed	240480	Direct
2008-05-07	Common Stock	S	1800	$95.32	Disposed	238680	Direct
2008-05-07	Common Stock	S	500	$95.31	Disposed	238180	Direct
2008-05-07	Common Stock	S	2200	$95.3	Disposed	235980	Direct
2008-05-07	Common Stock	S	800	$95.29	Disposed	235180	Direct
2008-05-07	Common Stock	S	921	$95.28	Disposed	234259	Direct
2008-05-07	Common Stock	S	1000	$95.27	Disposed	233259	Direct
2008-05-07	Common Stock	S	1800	$95.38	Disposed	231459	Direct
2008-05-07	Common Stock	S	200	$95.37	Disposed	231259	Direct
2008-05-07	Common Stock	S	2693	$95.36	Disposed	228566	Direct
2008-05-07	Common Stock	S	1000	$95.35	Disposed	227566	Direct
2008-05-07	Common Stock	S	3100	$95.39	Disposed	224466	Direct
2008-05-07	Common Stock	S	1500	$95.4	Disposed	222966	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2008-05-07	Non-Qualified Stock Option (Right to Buy)	$36.7	M	120000	Disposed	2013-06-25	Common Stock (120000)	Direct
2008-05-07	Non-Qualified Stock Option (Right to Buy)	$47.055	M	120000	Disposed	2014-06-30	Common Stock (120000)	Direct

Footnotes

F1: The Form 4 is one of five being filed to report transactions occurring on May 7, 2008.

F2: This number includes dividend equivalent accruals (271 shares) from awards granted under the Chevron Long-Term Incentive Plan.

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

F4: One-third of the shares subject to the option vest on each of the first, second and third anniversaries of the date of grant.