Crude Oil definition

Crude Oil means any liquid hydrocarbon mixture occurring naturally in the earth whether or not treated to render it suitable for transportation and includes:
Crude Oil means a naturally occurring mixture which consists of hydrocarbons or sulfur, nitrogen or oxygen derivatives of hydrocarbons and which is a liquid at standard conditions.
Crude Oil or “oil” means a mixture that consists mainly of pentanes and heavier hydrocarbons, which may contain sulphur and other non-hydrocarbon compounds, that is recoverable at a well from an underground reservoir and that is liquid at the conditions under which its volume is measured or estimated. It does not include solution gas or natural gas liquids.

Examples of Crude Oil in a sentence

  • BCOMCLTR Bloomberg WTI Crude Oil Subindex Total Return, this index is composed of composed of futures contracts on WTI crude oil.

  • The term “single delivery” as used herein means a delivery of Crude Oil of like type or grade in one continuous batch.

  • Converge may, at its sole discretion, refuse to accept Crude Oil from Customer into the Terminal until Customer has provided Converge with such information.

  • Converge shall also have the right to reject any Pipeline Nominations for Crude Oil deliveries into the Terminal in the event Customer does not have sufficient Available Contract Capacity for such Pipeline Nomination or sufficient Available Cavern Capacity for the grade and quantity of Crude Oil set forth therein.

  • In relation to oil, in 1988 the Commonwealth Government abandoned its Crude Oil Allocation Policy and other regulation of the sale of crude oil, removing requirements that refineries absorb particular quantities of Australian crude oil and ending the Commonwealth’s fixing of the price of crude oil at the Import Parity Price.


More Definitions of Crude Oil

Crude Oil means all crude oil and condensate.
Crude Oil means a naturally occurring mixture consisting of hydrocarbons and/or sulfur, nitrogen, and/or oxygen derivatives of hydrocarbons and which is a liquid in the reservoir and at standard conditions.
Crude Oil means crude mineral oil and all liquid hydrocarbons in their natural state or obtained from Natural Gas by condensation or extraction;
Crude Oil or “Oil” or “Crude” means all kinds of hydrocarbons and bitumen, both in solid and in liquid form, in their natural state or obtained from Natural Gas by condensation or extraction, including distillate and Condensate when commingled with the heavier hydrocarbons and delivered as a blend at the Delivery Point but excluding Natural Gas.
Crude Oil means all hydrocarbons regardless of gravity that are produced at the wellhead in liquid state at atmospheric pressure, asphalt ozokerites and the liquid hydrocarbons known as distillates or Natural Gas Liquids obtained from Natural Gas by condensation or extraction;
Crude Oil means a mixture consisting mainly of pentanes and heavier hydrocarbons that exists in the liquid phase in reservoirs and remains liquid at atmospheric pressure and temperature. Crude oil may contain small amounts of sulfur and other non-hydrocarbons but does not include liquids obtained from the processing of natural gas.
Crude Oil means hydrocarbons, regardless of gravity, that: