Light Sweet Crude Oil Price definition

Light Sweet Crude Oil Price means, with respect to any Price Determination Day, the settlement price of the Light Sweet Crude Oil Futures Contracts established by the NYMEX based upon the trading that has occurred in such contracts by open outcry on such Price Determination Day and published to the consolidated tape; provided, that if the NYMEX abandons its open outcry format for the Light Sweet Crude Oil Futures Contract, then the Light Sweet Crude Oil Price shall be based on trading of the Light Sweet Crude Oil Futures Contracts on the substitute electronic trading platform established by the NYMEX.
Light Sweet Crude Oil Price means with respect to any Price Determination Day, the settlement price of the Light Sweet Crude Oil Futures Contracts established by the NYMEX based upon the trading that has occurred in those contracts by open outcry on that Price Determination Day and published to the consolidated tape; provided, that if the NYMEX abandons its open outcry format for the Light Sweet Crude Oil Futures Contract, then the Light Sweet Crude Oil Price shall be based on trading of the Light Sweet Crude Oil Futures Contracts on the substitute electronic trading platform established by the NYMEX.

Related to Light Sweet Crude Oil Price

  • Crude Oil means any liquid hydrocarbon mixture occurring naturally in the earth whether or not treated to render it suitable for transportation and includes:

  • Barrel means forty-two (42) United States gallons of 231 cubic inches of sixty degrees Fahrenheit (60ºF) and equilibrium vapor pressure.

  • Fossil fuel means natural gas, petroleum, coal, or any form of solid, liquid, or gaseous fuel derived from such material.

  • Feedstock Gas means natural gas used as a raw material for its chemical properties in creating an end product.

  • Cubic foot of gas means the amount of gas required to fill a cubic foot of space when the gas is at an absolute pressure of fourteen and seventy-three hundredths (14.73) pounds per square inch at a temperature of sixty (60) degrees Fahrenheit.

  • Diesel fuel means the same as that term is defined in Section 59-13-102.

  • Salvage value means the amount received for property retired, less any expenses incurred in connection with the sale or in preparing the property for sale, or, if retained, the amount at which the material recoverable is chargeable to materials and supplies, or other appropriate account.

  • Crude Petroleum means the direct product of oil wells or a mixture of the indirect products transportable like the direct products and containing not more than two percent (2%) of sediment, water, and other impurities.

  • Heating Value means the heat released by combustion of one pound of waste or fuel measured in Btu on an as received basis. For solid fuels, the heating value shall be determined by use of ASTM Standard D2015-66.

  • Gross weight means the aggregate weight of a vehicle or combination of vehicles and the load

  • Gas Transporter means the licensed operator of the transportation network through which gas is transported to you;

  • Delivery Point means the point(s) of connection(s) at which energy is delivered into the Grid System i.e. the Interconnection Point.

  • Strip Price means, at any time, (a) for the remainder of the then-current calendar year, the average NYMEX Pricing for the remaining months in such calendar year, (b) for each of the succeeding three complete calendar years, the average NYMEX Pricing for the twelve months in each such calendar year, and (c) for the succeeding fourth complete calendar year and each calendar year thereafter, the average NYMEX pricing for the twelve months in such fourth calendar year.

  • MMBtu means one million British Thermal Units.

  • Feedstock means a solid waste that will readily decompose during the composting process including but not limited to yard waste, agricultural waste, animal waste, food scraps, animal carcasses, raw rendering material, and mixed solid waste.