Oil Product definition

Oil Product means any commodity made from oil or gas and includes refined crude oil, crude tops, topped crude, processed crude, processed crude petroleum, residue from crude petroleum, cracking stock, uncracked fuel oil, fuel oil, treated crude oil, residuum, gas oil, casing head gasoline, natural-gas gasoline, kerosene, benzene, wash oil, waste oil, blended gasoline, lubricating oil, blends or mixtures of oil with one or more liquid products or byproducts derived from oil or gas, and blends or mixtures of two or more liquid products or byproducts derived from oil or gas, whether hereinabove enumerated or not.
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Examples of Oil Product in a sentence

  • For example, for all settlements related to the final calculation of the Arbitrage Adjustment for Crude Oil Product volumes delivered by IRRX to STUSCO at the Delivery Point in [Redacted], STUSCO will make payment to IRRX, subject to the terms in Section 14, on [Redacted].

  • Delivery, title and risk of loss on Crude Oil Products shall pass from IRRX to STUSCO (i) as the Crude Oil Product passes the last outlet flange of the Facility into STUSCO’s [Redacted], or (ii) as otherwise mutually agreed between the Parties in writing [Redacted].

  • It is the intention of the Parties that the Production Royalty payable to Lessor on any Bitumen Oil Product, or other products or by-products (see paragraph 4 c) (iii)) that have been generated, processed or extracted from deposits of Tar Sands mined or otherwise extracted from the Properties shall be based upon the gross sales price.

  • POET warrants that at the time of Delivery the Products will conform to the following specifications (the “Specifications”): (a) in the case of Products that are distillers grains, the product attributes described on the Feed Tags associated with such Products, or (b) in the case of Products that are corn oil, the POET Corn Oil Product Specification Sheet for the particular commodity.

  • On or prior to the Commencement Date, Citi and DKTS shall agree the volume that shall constitute the “Base Layer Volume” for the Crude Oil Product Group and each other Product Group other than the Asphalt Product Group in respect of each Refinery, as indicated in Part 1 of Schedule T.

  • On or before 10:00 a.m., CPT on the second Tuesday of each month, third Tuesday of each month, and sixth Business Day before the end of each month (“M1”), other than the last month of the Term (each, a “Flex Layer Nomination Day”), DKTS may nominate a positive or negative quantity (a “Flex Layer Volume”) for the Crude Oil Product Group and each other Product Group other than the Asphalt Product Group in respect of each Refinery.

  • At the end of each month, for the Crude Oil Product Group and each other Product Group in respect of each Refinery, Citi shall calculate the Actual Month End Crude Volume and Actual Month End Product Volume, respectively, minus the Target Inventory Level at the end of each month to determine if there is any target deviation (a “Monthly Target Deviation”).

  • IRRX shall promptly provide written notice to STUSCO of Crude Oil Products that do not meet the Required Crude Oil Product Specifications required under this Agreement, unless the sole cause of such resulting Off-Spec Crude Oil Products is STUSCO’s gross negligence or the result of STUSCO providing Crude Oil that is non-compliant with the Required Crude Oil Specifications, (collectively, the “Off-Spec Products”).

  • The Department shall have the right, upon not less than 15 calendar days written notice to the Permittee, to terminate this Permit if Permittee has not engaged in any activity hereunder for ninety days or more, or if Permittee has failed to file the Monthly Fuel and Lubricating Oil Product Sold, Dispensed, or Delivered Report required under Section D.1 of this Permit.

  • All expenses incurred by replacing the Oil Product shall be assumed by Party B.