Common use of FOR THE EUROPEAN AND SOUTH AFRICAN MARKET Clause in Contracts

FOR THE EUROPEAN AND SOUTH AFRICAN MARKET. Basra Light Price Ex Basra Oil Terminal is based on Xxxxx (Dated) as a marker crude. The Xxxxx (Dated) is calculated by taking the arithmetic average of the means of high and low spot assessments of Xxxxx (Dated) quotations as published in the Platts Crude Oil Marketwire for five consecutive quotations starting from the fifteenth (15th) Day from the Xxxx of Lading Date, with the Xxxx of Lading Date being the first day of such fifteen (15) Day period.

FOR THE EUROPEAN AND SOUTH AFRICAN MARKET. Basra Light Price Ex Basra Oil Terminal is based on Xxxxx (Dated) as a marker crude. The Xxxxx (Dated) is calculated by taking the arithmetic average of the means of high and low spot assessments of Xxxxx (Dated) quotations as published in the Platts Crude Oil Marketwire for five consecutive quotations starting from the fifteenth (15th) Day from the Xxxx Bill of Lading Date, with the Xxxx Bill of Lading Date being the first day of such fifteen (15) Day period.