Petroleum Produced and Saved definition

Petroleum Produced and Saved means gross Petroleum produced minus impurities such as water or solids produced along with Petroleum, Petroleum recycled to the reservoir, Petroleum used in Petroleum Operations or flared or otherwise unavoidably lost under the provisions of the Contract.
Petroleum Produced and Saved means Crude Oil and Natural Gas Produced and Saved.
Petroleum Produced and Saved means gross Petroleum produced excluding:

Examples of Petroleum Produced and Saved in a sentence

  • The Company shall measure or weigh all Petroleum Produced and Saved from each Licence Area by a method or methods customarily used in Good Oilfield Practices and from time to time approved by the Minister.

  • The Contractor shall reconcile the measured quantity of Petroleum Produced and Saved with the quantity sold.

  • The Contractor shall be entitled to recover Contract Costs out of a percentage of the total value of Petroleum Produced and Saved from the Contract Area in the Year in accordance with the provisions of this Article.

  • Petroleum Produced and Saved shall be classified to segregate income from Natural Gas, Crude Oil and condensate and shall include closing stock.

  • Petroleum Produced and Saved shall be valued as per Article 15 and 19.


More Definitions of Petroleum Produced and Saved

Petroleum Produced and Saved means gross Petroleum produced minus

Related to Petroleum Produced and Saved

  • Petroleum Products means gasolines and petroleum oil distillates or blend stocks as further described in Item 10.

  • Petroleum product means crude oil, petroleum, refined petroleum products, byproducts and intermediate feed stocks, and other energy-related commodities, including, without limitation, blend components commonly used in the petroleum industry to improve characteristics of, or meet governmental or customer specifications for, petroleum or refined petroleum products.

  • Petroleum liquids means crude oil, condensate, and any finished or intermediate products manufactured or extracted in a petroleum refinery.

  • Mineral Products means the commercial end products derived from operating the Property as a mine:

  • Produced water means water recovered from an underground reservoir as a result of crude oil, condensate, or natural gas production and which may be recycled, disposed, or re-injected into an underground reservoir.

  • Total hydrocarbons (THC) means the sum of all volatile compounds measurable by a flame ionization detector (FID).

  • Petroleum Substances means petroleum, natural gas, natural gas liquids, related hydrocarbons and any and all other substances, whether liquid, solid or gaseous, whether hydrocarbons or not, produced or producible in association with any of the foregoing.

  • Refined Products means gasoline, diesel fuel, jet fuel, asphalt and asphalt products, and other refined products of crude oil.

  • Natural Gas Liquids means those hydrocarbon components that can be recovered from natural gas as a liquid including, but not limited to, ethane, propane, butanes, pentanes plus, and condensates;

  • 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.

  • Oil ’ means oil of any kind or in any form, including, but not limited to, petroleum, fuel oil, sludge, oil refuse, and oil mixed with wastes other than dredged spoil;

  • Petroleum refinery means each facility engaged in producing gasoline, kerosene, distillate fuel oils, residual fuel oils, lubricants, or other products through distillation of petroleum or through redistillation, cracking, extracting, or reforming of unfinished petroleum derivatives.

  • Produced Material means records, software and other material, whether complete or not, that, as a result of this Agreement, are produced or provided by the Contractor or a Subcontractor and includes the Incorporated Material;

  • plant products means products of plant origin, unprocessed or having undergone simple preparation in so far as these are not plants, set out in Annex IV-A, Part 3 to this Agreement;

  • Ultra Low Sulfur Diesel Fuel means diesel fuel that has a sulfur content of no more than fifteen parts per million.

  • Liquefied petroleum gas means a mixture of light hydrocarbons (predominantly propane, butane) that is gaseous under conditions of ambient temperature and pressure and that is maintained in a liquid state by an increase of pressure or lowering of temperature;

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

  • Total tetrahydrocannabinol means the same as that term is defined in § 3.2-4112.

  • Minerals means any and all ores (and concentrates derived therefrom) and minerals, precious and base, metallic and nonmetallic, in, on or under the Property which may lawfully be explored for, mined and sold.

  • Diesel means a distillate oil which can be used as fuel for the operation of a compression ignition engine and which has an approximate boiling temperature of between 150 °C to 400 °C;

  • Indicated Mineral Resource means that part of a mineral resource for which quantity, grade or quality, densities, shape and physical characteristics, can be estimated with a level of confidence sufficient to allow the appropriate application of technical and economic parameters, to support mine planning and evaluation of the economic viability of the deposit. The estimate is based on detailed and reliable exploration and testing information gathered through appropriate techniques from locations such as outcrops, trenches, pits, workings and drill holes that are spaced closely enough for geological and grade continuity to be reasonably assumed.

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

  • Liquefied natural gas or “LNG” means natural gas that has been liquefied.

  • Tetrahydrocannabinol means the same as that term is defined in § 3.2-4112.

  • Petroleum Operations means, as the context may require, Exploration Operations, Development Operations or Production Operations or any combination of two or more of such operations, including construction, operation and maintenance of all necessary facilities, plugging and abandonment of Xxxxx, safety, environmental protection, transportation, storage, sale or disposition of Petroleum to the Delivery Point, Site Restoration and any or all other incidental operations or activities as may be necessary.

  • Geothermal resources shall collectively mean the matter, substances and resources defined in subparagraph 21(a) that are not subject to this Lease but are located on adjacent land or lands in reasonable proximity thereto;