Forties Blend Sample Clauses

Forties Blend. The reference value of Forties Blend in US dollars/Tonne (wt) for a Month shall be calculated by adding together the quantities obtained by multiplying each lifting of Forties Blend (expressed in Barrels) during that Month by the prevailing term price (expressed in US dollars/Barrel) for Forties Blend applicable to the relevant lifting and then dividing the sum of each such quantities by the total quantity in Tonnes (wt) of Forties Blend lifted during such Month. For the purpose of this Paragraph 1.1.1, the prevailing term price shall be taken to be the average of the mid price of the daily quoted ranges for Forties Blend as published in the Platts Crude Oil Marketwire (Forties Blend being therein described as "Forties") during such Month.
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Forties Blend. Mass (dry) in Tonnes, as derived from the Kerse of Kinneil approved meters.

Related to Forties Blend

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