fiscal metering definition
fiscal metering means the planning, design, installation, calibration, commissioning, monitoring and inspection of any devices or equipment for the measurement of quantity of petroleum produced;
fiscal metering of hydrocarbons means the metering of the production at a location specified for fiscal metering of production and determination of fee, as agreed in the contract between the Concessionaire and the Grantor, with the purpose to establish the quality and quantity of hydrocarbons in accordance with API (American Petroleum Institute) and ASTM (American Society for Testing and Materials) principles;
fiscal metering means metering or measurement of petroleum carried out in connection with purchase and sale and the calculation of taxes and royalties;