Petroleum companies Sample Clauses

Petroleum companies. The petroleum companies (national and international) are responsible for all the investments in gas pipeline infrastructure and also have to fund Gassco. Initially, the Norwegian government selected a model in which foreign companies have used for petroleum activities on the Norwegian continental shelf. With the participation of Norsk Hydro which was a wholly owned state oil company, the government involvement has been strengthened later. This means that the Norwegian government has their own oil companies and has the ability to operate the petroleum activities. When the oil companies decide to invest in discovering new gas fields, they have to apply a license from Norwegian government. The authorities require these oil companies to offer ideas of discovering new fields and the technical solutions at the same time. Without permission from the authorities, these companies cannot develop new gas fields. Based on this, the government enable to understand and evaluate the companies’ decisions. It is important for the authorities to know these decisions are enough safe for the society and external environment. Generally, oil companies do not apply for licenses individually and they usually cooperated to develop the same area. Through the interview with Xx. Xxxx Xxxxx Hollen, he mentioned that Shell cooperates with other oil companies such as StatoilHydro ASA to develop Xxxxx Xxxxx. It is obviously that there are cooperation and competition among various oil companies by different technical, organisational and commercial expertise. A group of companies get the licenses to develop Ormen Xxxxx instead of an individual company. This group could exchange ideas and experience, share costs, risks and profits because they have the same objective which is to maximize the total profits when developing the Ormen Xxxxx Project. On the other hand, these companies may also have competitions in this industry and this may lead to the best result of maximizing the value of petroleum resources.
Sample 1
AutoNDA by SimpleDocs

Related to Petroleum companies

  • Petroleum Storage Systems A. At Company’s expense, Company will at all times comply with all federal, state, and local requirements, including but not limited to, the regulations of the FDEP as stated in Chapters 62-761 and 62-762, FAC, the requirements of the Federal Oil Pollution Prevention regulation found in Title 40 of the Code of Federal Regulations Part 112 (40 CFR part 112), as well as the requirements of the Environmental Protection Commission of Hillsborough County (EPC), as may be amended or replaced, pertaining to petroleum storage tank and piping system construction, operation, inspection, and compliance monitoring programs; release detection methods and procedures; maintenance; and preventative maintenance programs. Company will be responsible for all spillage, overflow, or escape of gases, petroleum or petroleum products, and for all fines and penalties in connection therewith. All petroleum storage systems will be registered by Company, and Company will display the registration placard as required by law.

  • PROJECT FINANCIAL RESOURCES i) Local In-kind Contributions $0 ii) Local Public Revenues $0 iii) Local Private Revenues iv) Other Public Revenues: $0 - ODOT/FHWA $0 - OEPA $2,675,745 - OWDA $0 - CDBG $0 - Other $0 SUBTOTAL $2,675,745 v) OPWC Funds: - Loan $299,000 SUBTOTAL $299,000 TOTAL FINANCIAL RESOURCES $2,974,745

  • MINES The Contractor represents and warrants that neither it, its parent entities (if any), nor any of the Contractor’s subsidiaries or affiliated entities (if any) is engaged in the sale or manufacture of anti-personnel mines or components utilized in the manufacture of anti-personnel mines.

  • Business Operations Company will provide all necessary equipment, personnel and other appurtenances necessary to conduct its operations. Company will conduct its business operations hereunder in a lawful, orderly and proper manner, considering the nature of such operations, so as not to unreasonably annoy, disturb, endanger or be offensive to others on the Airport. Company will provide all services under this Agreement on a fair and reasonable basis to all users of the Airport. Service will be prompt, courteous and efficient.

  • Minerals All minerals, crops, timber, trees, shrubs, flowers and landscaping features now or hereafter located on, under or above Land;

  • Energy 1. Cooperation shall take place within the principles of the market economy and the European Energy Charter, against a background of the progressive integration of the energy markets in Europe.

  • Fuel 28.1 The Vehicle must be returned with the amount of fuel equal to that at the time of the commencement of the rental. If the Vehicle is returned with less fuel, the difference will be charged to You at a rate of $5.00 including GST per litre (which includes a service component).

  • Operations Fire An “Operations Fire” is a fire caused by Purchaser’s Operations other than a Neg- ligent Fire. Forest Service, except as provided in B7.3, shall use cooperative deposits under B4.218 to perform fire sup- pression activities on Operations Fires. Xxxxxxxxx agrees to reimburse Forest Service for such cost for each Opera- tions Fire, subject to a maximum of the dollar amount stated in A14. The cost of Purchaser’s actions, supplies, and equipment on any such fire provided pursuant to B7.3, or otherwise at the request of Forest Service, shall be credited toward such maximum. If Purchaser’s actual cost exceeds Purchaser’s obligation stated in A14, Forest Service shall reimburse Purchaser for the excess.

  • Natural Gas 21.1 Subject to Article 21.2, the Indian domestic market shall have the first call on the utilisation of Natural Gas discovered and produced from the Contract Area. Accordingly, any proposal by the Contractor relating to Discovery and production of Natural Gas from the Contract Area shall be made in the context of the Government's policy for the utilisation of Natural Gas and shall take into account the objectives of the Government to develop its resources in the most efficient manner and to promote conservation measures.

  • Pipelines Developer shall have no interest in the pipeline gathering system, which gathering system shall remain the sole property of Operator or its Affiliates and shall be maintained at their sole cost and expense.

Time is Money Join Law Insider Premium to draft better contracts faster.