Oil Revenue Law definition

Oil Revenue Law means the oil revenue law of the State, Law No. 8/2004 of the 30th of December, as amended, supplemented or replaced from time to time;
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Oil Revenue Law means Law No. 8/2004 of the 30th of December;
Sample 1Sample 2

Examples of Oil Revenue Law in a sentence

  • Payments shall be made into the National Petroleum Account in accordance with the Oil Revenue Law.

  • The National Petroleum Agency shall send all information required by article 17 of the Oil Revenue Law to the Public Registration and Information Office.

  • All contracts subject to the principle of transparency shall be published by the Public Registration and Information Office as required by article 18 of the Oil Revenue Law.

  • The principle of transparency implies the publicity of and public access to all information in accordance with the Oil Revenue Law.

  • Confidentiality clauses included in all Authorizations are subject to article 20 of the Oil Revenue Law.

  • The payment, management, use and fiscalization of all revenue from Petroleum Operations are regulated by and in accordance with the Oil Revenue Law.

  • For instance, in Sao Tome and Principe, the National Assembly is required under the Oil Revenue Law to conduct yearly public plenary sessions to discuss general oil and gas policy.

  • In general, one would expect the definition of revenue to be as comprehensive as possible.6 A good example is Sao Tome and Principe’s Oil Revenue Law, which defines oil revenues for the purposes of the law in a very inclusive manner.7 In the case of a national oil company, there are a number of specialized issues for the determination of payments owed to the government by the company, which should be set forth in the instructions to the custodial bank.8 Deposits.

  • As per the Sao Tome and Principe Oil Revenue Law, for instance, no Saotomean official could agree to or authorize any document encumbering the oil resources of the joint zone that are allocable to Sao Tome and Principe.

  • Pursuant to the Saotomean Oil Revenue Law, the country’s Auditor General also performs certain oversight functions, being responsible for auditing the oil account on an annual basis and for reviewing oil contracts ex ante and ex post.

Related to Oil Revenue Law

  • Annual Division of Revenue Act means the Act of Parliament, which must be enacted annually in terms of section 214 (1) of the Constitution;

  • Combined state and local revenue per membership pupil means the district’s combined state and local revenue divided by the district’s membership excluding special education pupils.

  • Annual Revenue means the Company’s or a business unit’s net sales for the Fiscal Year, determined in accordance with generally accepted accounting principles; provided, however, that prior to the Fiscal Year, the Committee shall determine whether any significant item(s) shall be excluded or included from the calculation of Annual Revenue with respect to one or more Participants.

  • Foreign Income Tax means any Tax imposed by any foreign country or any possession of the United States, or by any political subdivision of any foreign country or United States possession, which is an income tax as defined in Treasury Regulation Section 1.901-2, and any interest, penalties, additions to tax, or additional amounts in respect of the foregoing.

  • State Income Tax means any Tax imposed by any State of the United States or by any political subdivision of any such State which is imposed on or measured by net income, including state and local franchise or similar Taxes measured by net income.

  • Tax Revenue means, with respect to the Project Area, (a) those tax revenues referred to (1) in the last sentence of the first paragraph of Article VIII, Section 12 of the Constitution of the State and (2) in Section 18-2147, Reissue Revised Statutes of Nebraska, as amended, and (b) all payments made in lieu thereof.

  • Revenue means the price for iron ore from the mineral lease the subject of any shipment or sale and payable by the purchaser thereof to the Company or an associated company less all export duties and export taxes payable to the Commonwealth on the export of the iron ore and all costs and charges properly incurred and payable by the Company from the time the ore shall be placed on ship at the Company’s wharf to the time the same is delivered and accepted by the purchaser including —

  • Department of Revenue means the Department of Revenue of

  • Production Payments and Reserve Sales means the grant or transfer by the Company or any of its Restricted Subsidiaries to any Person of a royalty, overriding royalty, net profits interest, Production Payment, partnership or other interest in Oil and Gas Properties, reserves or the right to receive all or a portion of the production or the proceeds from the sale of production attributable to such properties where the holder of such interest has recourse solely to such production or proceeds of production, subject to the obligation of the grantor or transferor to operate and maintain, or cause the subject interests to be operated and maintained, in a reasonably prudent manner or other customary standard or subject to the obligation of the grantor or transferor to indemnify for environmental, title or other matters customary in the Oil and Gas Business, including any such grants or transfers pursuant to incentive compensation programs on terms that are reasonably customary in the Oil and Gas Business for geologists, geophysicists or other providers of technical services to the Company or any of its Restricted Subsidiaries.

  • United States Tax Compliance Certificate has the meaning specified in Section 3.01.

  • CAISO Revenues means the net amount resulting from (a) the credits and other payments received by Buyer, as Seller’s Scheduling Coordinator, as a result of test energy from the Project delivered by Seller during the Test Period, including revenues associated with CAISO dispatches and (b) the debits, costs, penalties and interest that are directly assigned by the CAISO to the CAISO Global Resource ID for the Project for, or attributable to, scheduling and deliveries from the Project under this Agreement, which amount may result in a negative or positive value.

  • Sales Tax Revenues means taxes collected under the Virginia Retail Sales and Use Tax Act

  • Total Revenue bears the same meaning assigned to this expression in the Codes of Good Practice on Black Economic Empowerment, issued in terms of section 9(1) of the Broad-Based Black Economic Empowerment Act and promulgated in the Government Gazette on 9 February 2007;

  • foreign law means any law other than the law of Jersey;

  • provincial department ’ means a department listed in Schedule 2 of the Public Service Act, 1994 (Proclamation No. 103 of 1994), which falls within a provincial administration listed in Schedule 1 to that Act; 10

  • Gross receipts tax means any gross receipts, sales, use, excise, value added or any similar tax.

  • Anticipated county property tax revenue availability means the

  • Tax Revenues means the Personal Income Taxes and such other revenues, including Alternative Revenues (but excluding Building Aid), as the Authority may derive directly from the State from taxes imposed by the City or the State and collected by the State.

  • Estimated Provincial Subsidy means the estimated provincial subsidy to be provided by a LHIN to an HSP calculated in accordance with Applicable Law and Applicable Policy.

  • Revenue Fund means the fund so designated in, and created pursuant to, Section 502 hereof.

  • Annual Revenue Rate means the rate employed to assess a compliance penalty charge on a Curtailment Service Provider under Tariff, Attachment DD, section 11. Annual Transmission Costs:

  • Tax Act means the Income Tax Act (Canada).

  • Tax Code means the Internal Revenue Code of 1986, as amended.

  • Taxation law means the law on taxation in any jurisdiction which applies to the Account or to interest we pay you, for example the Taxes Consolidation Act 1997 as amended and any regulation made under it;

  • Use tax means a nonrecurring tax, other than a sales tax, which (a) is imposed on or with respect to the exercise or enjoyment of any right or power over tangible personal property incident to the ownership, possession, or custody of that property or the leasing of that property from another including any consumption, keeping, retention, or other use of tangible personal property, and (b) is complementary to a sales tax.

  • child tax credit means a child tax credit under section 8 of the Tax Credits Act 2002;