Raw Petroleum definition

Raw Petroleum signifies: raw mineral oil, asphalt, ozokerite and any other liquid hydrocarbons at the natural state or obtained from Natural Gas by condensation or extraction, including condensates and Natural Gas liquids.
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Examples of Raw Petroleum in a sentence

  • NRL, a Public Sector Enterprise having its refinery at Numaligarh and Marketing Terminals in Numaligarh (NRMT) and also in Siliguri (SMT), is engaged in business of manufacture of petroleum products like High Speed Diesel, Motor Spirit, Aviation Turbine Fuel, LPG, Paraffin Wax, Sulphur, Raw Petroleum Coke, Calcined Petroleum Coke etc.

  • If such sales to Third Parties are not carried out during the quarter in question, or represent less than thirty percent (30%) of the total sales, the value shall be established by comparison with the "current international market price" during the quarter in question of the Raw Petroleum produced in Senegal and in the neighboring producer countries, considering the differentials of quality, density, transport and payment.

  • By "current international market price", it shall be understood a price such that it enables the Raw Petroleum sold to attain, at the sites of treatment or consumption, a competitive price equal to that practiced for Raw Petroleum of the same quality coming from other regions and delivered under comparable commercial conditions, both from the quantity standpoint as well as the destination and the use of the Raw Petroleum, taking into account the market conditions and the type of contracts.