Net Standard Volume definition

Net Standard Volume as herein used means Gross Standard Volume less deductions of impurities shown by tests made by Pipeline Operator prior to Receipt and upon Delivery.

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Net Standard Volume means the Gross Standard Volume minus the sediment, water and other impurities.

Net Standard Volume means the Gross Standard Volume minus the sediment and water component.

Examples of Net Standard Volume in a sentence

• All calculations of Net Standard Volume, as defined by the API, including corrections for sediment and water, will be performed utilizing the current API standards.

• Provided that it is consistent with the terms and conditions of the delivery sites referenced herein, all gross volumes determined hereunder shall be adjusted to 60 degrees F by applying API-IP Table 6A volume correction factors and S&W deductions used in determining Net Standard Volume shall be based on Water by ▇▇▇▇ ▇▇▇▇▇▇▇ ASTM (D-4928) and Sediment by Filtration (D-4807).

• The volume will be calculated as Net Standard Volume (NSV) and it shall be construed as the total volume of all the petroleum liquids, excluding sediment and water (BSW) at a standard temperature of 60º F.

• The volume will be calculated as Net Standard Volume (NSV) and it shall be construed as the total volume of all the petroleum liquids, excluding sediment and water (BSW) art a standard temperature of 60º F.

• Volumes within Residual Tanks will be corrected to Net Standard Volume only for the BS&W exceeding 1.0% by volume.

More Definitions of Net Standard Volume

Net Standard Volume means the Gross Standard Volume minus the sediment and water component. “New Shipper” has the meaning set out in the paragraph 7.2.

Net Standard Volume means, with respect to Product, the gross standard volume, excluding BS&W. For purposes of this definition, the following terms have the definitions set forth below:

Net Standard Volume means the total volume of all petroleum liquids, excluding sediment and water and free water, corrected by the appropriate volume correction factor for the observed temperature and API Gravity, relative density, or density to a standard temperature such as 60 degrees Fahrenheit and also corrected by the applicable pressure correction factor and meter factor.

Net Standard Volume means the Gross Standard Volume (GSV) corrected to exclude the contaminant content, in accordance with standards established by ASTM in the API Manual of Petroleum Measurement Standards, Chapter 12.2, or the latest revision to such standards.

Net Standard Volume or "NSV" means the total volume of liquid hydrocarbons, excluding basic sediments and water (BS&W) in suspension and free water adjusted to a 60ºF standard temperature when measured in Barrels or 20°C when measured in Cubic Meters and standard pressure of one atmosphere (1 atm).

Net Standard Volume or "NSV" means the total volume of liquid hydrocarbons, excluding sediment, suspended water (BS & W) and free water, set at standard temperature of sixty degrees Fahrenheit (60 ° F) when measured in Barrels / twenty degrees Celsius (20 ° C) when measuring in cubic meters and standard pressure of one atmosphere.

Net Standard Volume means the volume at 60 degrees Fahrenheit and one atmosphere of pressure (14.696 PSIA) after deducting BS&W from the Gross Standard Volume, (iii) “CTL” means the Correction for the effect of Temperature on Liquid, and (iv) “CPL” means the Correction for the effect of Pressure on Liquid.