Crude Oil Sample Clauses

Crude Oil. (i) The Cost Recovery Crude Oil to which CONTRACTOR is entitled hereunder shall be valued by EGPC and CONTRACTOR at "Market Price" for each calendar quarter.
Crude Oil. For the purposes of determining the value of Crude Oil (excluding the Associated Gas) received by Second Party, the prices shall be set monthly by Joint Oil and shall be determined on the basis of prices for similar crude oil in the world market and on arms length trading between non-affiliated companies.
Crude Oil. Liquid petroleum and other hydrocarbons produced at the wellhead in a liquid state at atmospheric pressure.
Crude Oil. Crude Oil produced and saved under this Agreement and not used in Petroleum EGPC SHARE CONTRACTOR SHARE operations. (BOPD) (quarterly average). That portion or increment ( percent ) ( percent) up to less than BOPD. ( ----%) (-----%) That portion or increment ( percent ) ( percent) from and up to less than BOPD . ( ------%) (------%) That portion or increment ( percent ) ( percent) from and up to less than BOPD . ( ------%) (------%) That portion or increment ( percent ) ( percent) from BOPD and above. ( ------%) ( ------ %)
Crude Oil. Includes lease condensate Petroleum is a complex mixture of liquid hydrocarbons, chemical compounds containing hydrogen and carbon, occurring naturally in underground reservoirs in sedimentary rock. Petroleum is normally found at considerable depths beneath the earth’s surface, where, under pressure it is essentially liquid. At the surface and atmospheric pressure, petroleum comprises both natural gas and crude oil. The word petroleum comes from the Latin word petra meaning rock, and oleum, meaning oil. The word "petroleum" is often interchanged with the word "oil". Broadly de�ined, it includes both primary (crude oil or unre�ined) and secondary (re�ined) products. Crude oil is the most important oil from which oil products are manufactured but several other feedstock oils are also used to make oil products. There is a wide range of petroleum products manufactured from crude oil. Many are for speci�ic purposes, for example, motor gasoline or lubricants; others are for general heat-raising needs, such as gas oil or fuel oil. The quality of crude oil depends to a great extent on its density and sulphur content. The crude oils are classi�ied as light, medium and heavy according to their density. Crude oils with high sulphur content (at least 2.5% sulphur) are sour, while sweet crudes have often less than 0.5% sulphur content. The different de�initions used by the six international organisations: APEC, Eurostat and IEA: Crude oil is mineral oil of natural origin comprising a mixture of hydrocarbons and associated impurities, such as sulphur. It exists in the liquid phase under normal surface temperature and pressure and its physical characteristics (density, viscosity, etc.) are highly variable. This category includes �ield or lease condensate recovered from associated and non-associated gas where it is co-mingled with the commercial crude oil tream OLADE: Crude oil is a complex mixture of hydrocarbons of different molecular weights, in which there is a generally small fraction of compounds containing sulphur and nitrogen. The composition of the oil is variable and can be divided into three classes, according to the distillation residues, as paraf�ins, asphalts or a combination of both. Oil is used as a raw material in re�ineries for processing and obtaining its derivatives. In speci�ic cases it is also used for �inal consumption in given industrial activities. OPEC: A mixture of hydrocarbons that exist in a liquid phase in natural underground reservoirs and r...