Reference Crude Price definition
Reference Crude Price or "RCP" means the weighted average C&F price (FOB price plus freight on AFRA basis) of the basket of Arabian/Persian crude oils imported into Pakistan during the first six months periods of the seventh months immediately preceding the relevant Price Notification Periodas published in an internationally recognized publication acceptable to the Parties. C&F Price will be arrived at on the basis of FOB price of Arabian/Persian crude oils imported into Pakistan plus freight on AFRA, which is deemed chartered rates.
Reference Crude Price or ”RCP” means the weighted average C&F price (FOB price plus freight on AFRA basis which is a deemed chartered rate) of the Reference Crude.
Reference Crude Price means the average Free on Board (“FOB”) point of export spot price for Reference Crude during the relevant time period, as quoted in ▇▇▇▇▇’▇ Oilgram Price Report or such other publication as MOGE and CONTRACTOR may agree, adjusted as necessary to exclude non-Arms Length Sales and to reflect thirty (30) day payment terms and differences in gravity and quality between the Reference Crude and the Crude Oil being valued hereunder.
Examples of Reference Crude Price in a sentence
For New Exploratory Efforts, the Producer Policy Price for crude oil delivered at the nearest refinery gate shall be based on the Reference Crude Price (RCP) equal to C&F price of a comparable crude oil or a basket of Arabian/Persian Gulf crude oils plus or minus a quality differential between the comparable crude oil / a basket of crude oils and the local crude oil.
More Definitions of Reference Crude Price
Reference Crude Price or "RCP" means the weighted average C&F price (FOB price plus freight on AFRA basis which is a deemed chartered rate) of the basket of Arabian/Persian crude oils imported into Pakistan during the first six months periods of the seventh months immediately preceding the relevant Price Notification Period as published in an internationally recognized publication acceptable to the Parties.