MEASUREMENT AND PRICING OF CRUDE OIL Sample Clauses

MEASUREMENT AND PRICING OF CRUDE OIL. 11.1 Crude Oil shall be delivered by Contractor to storage tanks constructed, maintained and operated in accordance with applicable laws and good international petroleum industry oilfield practice under the same or similar circumstances. Crude Oil shall be metered or otherwise measured for quantity and tested for quality in such storage tanks for all purposes of this Agreement. Any Party may request that measurements and tests be done by an internationally recognised inspection company. Contractor shall arrange and pay for the conduct of any measurement, or test so requested provided, however, that in the case of (1) a test requested for quality purposes and (2) a test requested on metering (or measurement) devices, where the test demonstrates that such devices are accurate within acceptable tolerances, the Party requesting the test shall reimburse Contractor for the costs associated with the test or tests. 11.2 GNPC or its authorised agent shall have the right: a) to be present at and to observe such measurement of Crude Oil; and b) to examine and test whatever appliances are used by Contractor. 11.3 In the event that GNPC considers Contractor’s methods of measurement to be inaccurate GNPC shall notify Contractor to this effect and the Parties shall meet within ten (10) days of such notification to discuss the matter. If after thirty (30) days the Parties cannot agree over the issue they shall refer for resolution under Article 24 the sole question of whether Contractor’s method of measuring Crude Oil is accurate and reasonable. Retrospective adjustments to measurements shall be made where necessary to give effect to the decision rendered under Article 24. 11.4 If upon the examination or testing of appliances provided for in Article 11.2 any such appliances shall be discovered to be defective: a) Contractor shall take immediate steps to repair or replace such appliance; and b) subject to the establishment of the contrary, such error shall be deemed to have existed for three (3) Months or since the date of the last examination and testing, whichever occurred more recently. 11.5 In the event that Contractor desires to adjust, repair or replace any measuring appliance, it shall give GNPC reasonable notice to enable GNPC or its authorised agent to be present. 11.6 Contractor shall keep full and accurate accounts concerning all Petroleum measured as aforesaid and provide GNPC with copies thereof on a monthly basis, not later than ten (10) days after the end of...
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MEASUREMENT AND PRICING OF CRUDE OIL. 11.1 Crude Oil shall be delivered by Licensee to storage tanks constructed, maintained and operated in accordance with applicable laws and best oilfield practice. Crude Oil shall be metered or otherwise measured for quantity and tested for quality in such storage tanks for all purposes of this Agreement. Any Party may request that measurements and tests for quality purposes and on metering (or measurement) devices, be done by an internationally recognized inspection company. Licensee shall arrange and pay for the conduct of any measurement, or test so requested. 11.2 Licensee shall keep full and accurate accounts concerning all Petroleum measured as aforesaid and provide the Director General with copies thereof on a monthly basis, not later than ten (10) days after the end of each month.
Sample 1Sample 2
MEASUREMENT AND PRICING OF CRUDE OIL. 11.1 Crude Oil shall be delivered by Licensee to storage tanks constructed, maintained and operated in accordance with applicable laws and good oilfield practice. Crude Oil shall be metered or otherwise measured for quantity and tested for quality in such storage tanks for all purposes of this Agreement. Any Party may request that measurements and tests be done by an internationally recognized inspection company. Licensee shall arrange and pay for the conduct of any measurement, or test so requested provided, however, that in the case of (1) a test requested for quality purposes and (2) a test requested on metering (or measurement) devices, or where the test demonstrates that such devices are accurate within acceptable tolerances, the Party requesting the test shall reimburse Licensee for the costs associated with the test or tests.
Sample 1
MEASUREMENT AND PRICING OF CRUDE OIL. 11.1 Crude Oil shall be delivered by Licensee to storage tanks constructed, maintained and operated in accordance with applicable laws and good oilfield practice. Crude Oil shall be metered or otherwise measured for quantity and tested for quality in such storage tanks for all purposes of this Agreement. Any Party may request that measurements and tests be done by an internationally recognized inspection company. Licensee shall arrange and pay for the conduct of any measurement, or test so requested provided, however, that in the case of (1) a test requested for quality purposes and (2) a test requested on metering (or measurement) devices, or where the test demonstrates that such devices are accurate within acceptable tolerances, the Party requesting the test shall reimburse Licensee for the costs associated with the test or tests. 11.2 Licensee shall keep full and accurate accounts concerning all Petroleum measured as aforesaid and provide the Director General with copies thereof on a monthly basis, not later than ten (10) days after the end of each month.
Sample 1
MEASUREMENT AND PRICING OF CRUDE OIL. Crude Oil shall be delivered by Contractor to storage tanks or other suitable holding facilities constructed, maintained, and operated in accordance with applicable laws and International Oil Field Practice. Crude Oil shall be metered or otherwise measured for quantity and tested for quality in such storage tanks or other suitable holding facilities for purposes of this Agreement. Any Party may request that measurements and tests be done by an internationally recognized inspection company. Contractor shall arrange and pay for the conduct of any measurement or test so requested; provided, however, that in the case of (1) a test requested for quality purposes and/or
Sample 1

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