Common use of Terms for Crude Oil Clause in Contracts

Terms for Crude Oil. (a) If the Crude Oil requirements of the domestic market in Guyana (the "Crude Oil Domestic Demand") exceed the Minister's total entitlement from all Crude Oil production in Guyana, then the Contractor shall be obliged together with any third parties which produce Crude Oil in Guyana, to supply and sell a volume of Crude Oil to be used for such Crude Oil requirements in Guyana, calculated on the basis of the ratio which the Contractor's Lifting Entitlement of Crude Oil bears to the sum of the Contractor's Lifting Entitlement to Crude Oil plus the total entitlement of all other producers in Guyana subject to Article 23.1(c). The volume of Crude Oil which the Contractor shall be required to sell under this Article shall not exceed the Contractor's share of Oil entitlement under this agreement. The Minister shall give the Contractor notice on or prior to April l of the year preceding the Calendar Year in which the Government will have the said requirement and the term of the supply shall be on a Calendar Year basis unless otherwise agreed. For the purpose of this Agreement, Crude Oil Domestic Demand shall consist of those quantities of Crude Oil (i) used to produce refined products or petrochemicals in Guyana for end use by business and residential consumers in Guyana, or (ii) used to produce power in Guyana for end use by business and residential customers in Guyana, the amounts for which shall be based upon independent, verifiable government statistics. Crude Oil, refined products, petrochemicals or fuel for power generation that are exported from Guyana shall not be considered part of Crude Oil Domestic Demand.

Terms for Crude Oil. (a) If the Crude Oil requirements of the domestic market in Guyana (the "Crude Oil Domestic Demand") exceed the Minister's total entitlement from all Crude Oil production in Guyana, then the Contractor shall be obliged together with any third parties which produce Crude Oil in Guyana, to supply and sell a volume of Crude Oil to be used for such Crude Oil requirements in Guyana, calculated on the basis of the ratio which the Contractor's Lifting Entitlement of Crude Oil bears to the sum of the Contractor's Lifting Entitlement to Crude Oil plus the total entitlement of all other producers in Guyana subject to Article 23.1(c). The volume of Crude Oil which the Contractor shall be required to sell under this Article shall not exceed the Contractor's share of Oil entitlement under this agreement. The Minister shall give the Contractor notice on or prior to April l 1st of the year preceding the Calendar Year in which the Government will have the said requirement and the term of the supply shall be on a Calendar Year basis unless otherwise agreed. For the purpose of this Agreement, Crude Oil Domestic Demand shall consist of those quantities of Crude Oil (i) used to produce refined products or petrochemicals in Guyana for end use by business and residential consumers in Guyana, or (ii) used to produce power in Guyana for end use by business and residential customers in Guyana, the amounts for which shall be based upon independent, verifiable government statistics. Crude Oil, refined products, petrochemicals or fuel for power generation that are exported from Guyana shall not be considered part of Crude Oil Domestic Demand.

Terms for Crude Oil. (a) If the Crude Oil requirements of the domestic market in Guyana (the "Crude Oil Domestic Demand") exceed the Minister's total entitlement from all Crude Oil production in Guyana, then the Contractor shall be obliged together with any third parties which produce Crude Oil in Guyana, to supply and sell a volume of Crude Oil to be used for such Crude Oil requirements in Guyana, calculated on the basis of the ratio which the Contractor's Lifting Entitlement of Crude Oil bears to the sum of the Contractor's Lifting Entitlement to Crude Oil plus the total entitlement of all other producers in Guyana subject to Article 23.1(c24.1(c). The volume of Crude Oil which the Contractor shall be required to sell under this Article shall not exceed the Contractor's share of Oil entitlement under this agreementProfit Oil. The Minister shall give the Contractor notice on or prior to April l of the year preceding the Calendar Year in which the Government will have the said requirement and the term of the supply shall be on a Calendar Year basis unless otherwise agreed. For the purpose of this Agreement, Crude Oil Domestic Demand shall consist of those quantities of Crude Oil (i) used to produce refined products or petrochemicals in Guyana for end use by business and residential consumers in Guyana, or (ii) used to produce power in Guyana for end use by business and residential customers in Guyana, the amounts for which shall be based upon independent, verifiable government statistics. Crude Oil, refined products, petrochemicals or fuel for power generation that are exported from Guyana shall not be considered part of Crude Oil Domestic Demand.

Terms for Crude Oil. (a) If the Crude Oil requirements of the domestic market in Guyana (the "“Crude Oil Domestic Demand"”) exceed the Minister's total entitlement from all Crude Oil production in Guyana, then the Contractor shall be obliged together with any third parties which produce Crude Oil in Guyana, to supply and sell a volume of Crude Oil to be used for such Crude Oil requirements in Guyana, calculated on the basis of the ratio which the Contractor's Lifting Entitlement of to Crude Oil bears to the sum of the Contractor's Lifting Entitlement to Crude Oil entitlement plus the total entitlement of all other producers in Guyana subject to Article 23.1(c17.1(c). The volume of Crude Oil which the Contractor shall be required to sell under this Article shall not exceed the Contractor's share of Oil entitlement under this agreementProfit Petroleum. The Minister shall give the Contractor notice on or prior to April l 1 of the year preceding the Calendar Year in which the Government will have the said requirement and the term of the supply shall be on a Calendar Year basis unless otherwise agreed. For the purpose of this Agreement, Crude Oil Domestic Demand shall consist of those quantities of Crude Oil (i) used to produce refined products or petrochemicals in Guyana for end use by business and residential consumers in Guyana, or (ii) used to produce power in Guyana for end use by business and residential customers in Guyana, the amounts for which shall be based upon independent, verifiable government statistics. Crude Oil, refined products, petrochemicals or fuel for power generation that are exported from Guyana shall not be considered part of Crude Oil Domestic Demand.