Gross Standard Volume definition

Gross Standard Volume as herein used means volume corrected to a temperature of sixty degrees (60°) Fahrenheit, in accordance with the latest API/ASTM measurement standards, and at equilibrium vapor pressure.

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Gross Standard Volume means a volume of Petroleum measured in Cubic Meters in accordance with standards established by ASTM in the API Manual of Petroleum Measurement Standards, Chapter 12, Section 2, Part 2, or the latest revision to such Standards.

Gross Standard Volume means the volume of Petroleum measured in Cubic Metres in accordance with the most current standards established by ASTM.

Examples of Gross Standard Volume in a sentence

• The quantity of product received from or loaded to Customer’s Marine Vessels shall be based on Gross Standard Volume using the applicable API and ASTM or equivalent standards for Marine Vessel movements by the following (in order of preference), subject to Operator’s reasonable discretion to choose an alternative method: (a) by meters, (b) by static shore tank gauges of the tank or otherwise, (c) by inspector certificates, or (d) by a mutually agreeable method.

• The quantity of product received from or loaded to customer’s marine vessels shall be based on Gross Standard Volume using the applicable API and ASTM or equivalent standards for Marine Vessel movements by the following (in order of preference), subject to operator’s reasonable discretion to choose an alternative method: (a) by meters, (b) by static shore tank gauges of the tank or otherwise (c) by a mutually agreeable method.

• The quantity of product received from or loaded to TRMC’s Marine Vessels shall be based on Gross Standard Volume using the applicable API and ASTM or equivalent standards for Marine Vessel movements by the following (in order of preference), subject to Operator’s reasonable discretion to choose an alternative method: (a) by meters, (b) by static shore tank gauges of the tank or otherwise, (c) by inspector certificates, or (d) by a mutually agreeable method.

More Definitions of Gross Standard Volume

Gross Standard Volume means the volume of Petroleum or Crude Oil measured in Barrels in accordance with standards established by ASTM.

Gross Standard Volume means the total volume of all petroleum liquids and sediment and water, excluding free water, corrected by the appropriate volume correction factor for the observed temperature and API gravity, relative density, or density to a standard temperature such as 60°F and also corrected by the applicable pressure correction factor and meter factor.

Gross Standard Volume means the volume of Petroleum measured in Barrels in accordance with the most current standards established by ASTM.

Gross Standard Volume means the Gross Volume, corrected for base gravity, at standard temperature corrected to standard pressure.

Gross Standard Volume means volume corrected as to temperature from observed degrees Fahrenheit/Celsius to fifteen degrees (15°) Celsius.

Gross Standard Volume or "GSV" means the total volume of liquid hydrocarbons, sediments and water (BS&W) in suspension, excluding free water, adjusted to a 60ºF standard temperature when measured in Barrels or 20°C when measured in Cubic Meters and standard pressure of one atmosphere (1 atm).

Gross Standard Volume means the volume corrected to a temperature of sixty degrees (60°) Fahrenheit, in accordance with the latest API/ASTM measurement standards, and at equilibrium vapor pressure.