Net Standard Volume definition

Net Standard Volume means the Gross Standard Volume minus the sediment, water and other impurities.
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Net Standard Volume as herein used means Gross Standard Volume less deductions of impurities shown by tests made by Pipeline Operator prior to Receipt and upon Delivery.
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Net Standard Volume means the Gross Standard Volume minus the sediment and water component.
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Examples of Net Standard Volume in a sentence

  • Quantities for receiving and delivering will be Net Standard Volume.

  • The premium is calculated based on Net Standard Volume (NSV) barrels delivered from the SPR.c. If the Exchange Oil volume offered is greater than the site monthly nominal delivery rate, remaining offer volume would apply to the following month in the delivery period.

  • Since in the “flow”-group air bubbles might develop spontaneously and, thus, should be assessed, conducting the “Parryscope”-technique is only possible after the evaluation of the tubal flow.

  • The GSV of Product shall be adjusted to Net Standard Volume (“NSV”) by deducting for Sediment and Water using the latest applicable industry standard API/ASTM methods and standards.

  • The Deputy Commissioner of Lands advised that the usual average used is 1,200.


More Definitions of Net Standard Volume

Net Standard Volume means the Gross Standard Volume minus the sediment and water component. “New Shipper” has the meaning set out in the Section 7.2.
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Net Standard Volume means, with respect to Product, the gross standard volume, excluding BS&W. For purposes of this definition, the following terms have the definitions set forth below:
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Net Standard Volume means the total volume of all petroleum liquids, excluding sediment and water and 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 degrees Fahrenheit and also corrected by the applicable pressure correction factor and meter factor.
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Net Standard Volume means the Gross Standard Volume (GSV) corrected to exclude the contaminant content, in accordance with standards established by ASTM in the API Manual of Petroleum Measurement Standards, Chapter 12.2, or the latest revision to such standards.
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Net Standard Volume or "NSV" means the total volume of liquid hydrocarbons, excluding basic sediments and water (BS&W) in suspension and 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).
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Net Standard Volume or "NSV" means the total volume of liquid hydrocarbons, excluding sediment, suspended water (BS & W) and free water, set at standard temperature of sixty degrees Fahrenheit (60 ° F) when measured in Barrels / twenty degrees Celsius (20 ° C) when measuring in cubic meters and standard pressure of one atmosphere.
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Net Standard Volume means the volume at 60 degrees Fahrenheit and one atmosphere of pressure (14.696 PSIA) after deducting BS&W from the Gross Standard Volume, (iii) “CTL” means the Correction for the effect of Temperature on Liquid, and (iv) “CPL” means the Correction for the effect of Pressure on Liquid. FEEDSTOCK AND PRODUCTS SALES PRICE MEASUREMENT PROCEDURES AND PRICING
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