Profit Gas definition

Profit Gas means the remaining Available Gas, after the Contractor has taken the Cost Gas pursuant to the provisions of Article 6.1.
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Profit Gas has the meaning assigned in Article 35; "Profit Oil" has the meaning assigned in Article 35;
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Profit Gas means the Natural Gas to be shared between GHPL and Contractor pursuant to Article VI hereof.
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Examples of Profit Gas in a sentence

  • Where income tax is payable, there is a corresponding deduction in the amount of the Profit Gas payable to TPDC.

  • The Company is liable for income tax in Tanzania, but the income tax is recoverable out of TPDC’s Profit Gas when the tax is payable.

  • Additional Profits Tax is payable where the Company has recovered its costs plus a specified return out of Cost Gas revenues and Profit Gas revenues.

  • In accordance with the terms of the PSA, TPDC is entitled to the payment of its share of Profit Gas on a quarterly basis proportional to the cash receipts during the quarter.

  • As a result: (i) no Additional Profits Tax is payable until the Company recovers its costs out of Additional Gas revenues plus an annual return of 25% plus the percentage change in the United States Industrial Goods Producer Price Index (“PPI”); and (ii) the maximum Additional Profits Tax rate is 55% of the Company’s Profit Gas when costs have been recovered with an annual return of 35% plus PPI return.

  • As a result: (i) no APT is payable until the Company recovers its costs out of Additional Gas revenues plus an annual return of 25% plus the percentage change in the United States Industrial Goods Producer Price Index (“PPI”); and (ii) the maximum APT rate is 55% of the Company’s Profit Gas when costs have been recovered with an annual return of 35% plus PPI return.

  • In the event of commercial production of natural gas, the parties shall agree when the development plan related to such commercialization is adopted on the rules applicable to the disposal of the Government share of Profit Gas.

  • Crude oil and natural gas production shall be respectively disaggregated into Cost Oil and Profit Oil and Cost Gas and Profit Gas, using the relevant percentage calculated quarterly for Cost Petroleum in accordance with sub-clause 36(1), and for Profit Petroleum in accordance with sub- clause 36(4).

  • Cost Petroleum and Profit Petroleum calculations, respectively disaggregated into Cost Oil, Cost Gas, Profit Oil and Profit Gas, shall be done quarterly on an accumulative basis during a given fiscal year.

  • The purpose of this Accounting Procedure is to set out the principles and procedures of accounting which will enable the Government to monitor effectively the Contractor’s costs, Expenditure, production and income so that Government’s entitlement to Profit Oil and Profit Gas can be accurately determined pursuant to the terms of the Agreement.


More Definitions of Profit Gas

Profit Gas means the Available Gas, less the quantity corresponding to the value required for Royalty payment and after the Investor has taken the Cost Gas pursuant to the provisions of Article 14.2. „Dobit u plinu” znači dio Pridobivenog plina, umanjenog za količine xxxxxxxx xx xxxxxxxx Xxxxxxx xx pridobivene količine ugljikovodika i nakon što je Investitor preuzeo Troškovni plin u skladu s odredbama članka 14.2.
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Profit Gas means the balance of natural gas available in any year after deduction of Cost Gas and allocated in accordance with the Ruvuma PSA. Such fiscal terms for the production of gas are currently being negotiated with the Tanzanian authorities and expected to form part of an amended Ruvuma PSA;
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Profit Gas means the remaining Available Gas, less the quantities required for royalty payment and after the Contractor has taken the Cost Gas pursuant to the provisions of Article 14.2.
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Profit Gas means, the balance of Available Natural Gas after the allocation of Royalty Gas, Cost Gas and Tax Gas, which shall be 70% pre cost recovery.
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Profit Gas means the Natural Gas to be shared between Government Holdings and Contractor pursuant to Article VI hereof.
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Related to Profit Gas

  • Net Operating Income With respect to any Mortgaged Property, for any Mortgagor’s fiscal year end, Net Operating Income will be calculated in accordance with the standard definition of “Net Operating Income” approved from time to time endorsed and put forth by CREFC®.

  • Floating Profit/Loss in a CFD shall mean current profit/loss on Open Positions calculated at the current Quotes (added any commissions or fees if applicable).

  • Net Income (Loss) means with respect to any Person and for any period, the aggregate net income (or loss) after taxes of such Person for such period, determined in accordance with GAAP.

  • Moderate income housing means housing occupied or reserved for occupancy by households with a gross household income equal to or less than 80% of the median gross income for households of the same size in the county in which the city is located.

  • Measured Mineral Resource means that part of a Mineral Resource for which quantity, grade or quality, densities, shape, and physical characteristics are so well established that they can be estimated with confidence sufficient to allow the appropriate application of technical and economic parameters, to support production planning and evaluation of the economic viability of the deposit. The estimate is based on detailed and reliable exploration, sampling and testing information gathered through appropriate techniques from locations such as outcrops, trenches, pits, workings and drill holes that are spaced closely enough to confirm both geological and grade continuity.

  • Petroleum Operations means, as the context may require, Exploration Operations, Development Operations or Production Operations or any combination of two or more of such operations, including construction, operation and maintenance of all necessary facilities, plugging and abandonment of Xxxxx, safety, environmental protection, transportation, storage, sale or disposition of Petroleum to the Delivery Point, Site Restoration and any or all other incidental operations or activities as may be necessary.

  • 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 —

  • Net Profit means such profit as is calculated in accordance with paragraph 61;