Net Hydrocarbons definition

Net Hydrocarbons means the Produced Hydrocarbons minus the Self- Consumed Hydrocarbons, measured at the Measurement Points in acceptable commercial conditions regarding the content of sulfur, water and other elements in accordance with the Applicable Law and the Industry Best Practices which shall be supervised and audited by CNH.
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Net Hydrocarbons means the Produced Hydrocarbons minus the Self- Consumed Hydrocarbons, which shall be delivered to CNH at the Measurement Points and audited by CNH.
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Examples of Net Hydrocarbons in a sentence

  • The volume and quality of the Net Hydrocarbons shall be measured and determined at the Measurement Points pursuant to the procedures established by the Applicable Laws.

  • Each of the Participating Companies may market Net Hydrocarbons on its own behalf or through any other registered marketer, provided that if any of the Participating Companies markets the production within Mexico, the marketer must be registered with the Energy Regulatory Commission of Mexico in accordance with the Applicable Laws.

  • Simultaneously with the submission of the Development Plan for the approval of CNH, the Contractor shall propose the procedures that shall govern the scheduling, Storage, measurement and quality monitoring of Net Hydrocarbons at the Measurement Points.

  • The Contractor’s Consideration for any given Month shall consist of the onerous transfer of the Net Hydrocarbons corresponding to that Month.

  • The transfer of the first volume of Net Hydrocarbons shall only be made if the Contractor is up to date with its payments of the State’s Considerations accrued up to that moment.

Related to Net Hydrocarbons

  • Hydrocarbons means oil, gas, casinghead gas, drip gasoline, natural gasoline, condensate, distillate, liquid hydrocarbons, gaseous hydrocarbons and all products refined or separated therefrom.

  • Condensate means hydrocarbon liquid separated from natural gas which condenses due to changes in the temperature or pressure and remains liquid at standard conditions.

  • Oil means petroleum in any form including crude oil, fuel oil, sludge, oil refuse and refined products (other than petrochemicals which are subject to the provisions of Annex II of the present Convention) and, without limiting the generality of the foregoing, includes the substances listed in Appendix I to this Annex.