Petroleum Taxation Law definition

Petroleum Taxation Law means the Petroleum Taxation Law, Law no. 15/2009, as amended, supplemented or replaced from time to time;
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Petroleum Taxation Law means the Petroleum Taxation Law, Law no. 15/2009 of 31 December, 2009, as amended, supplemented or replaced from time to time; "Proceeds" means the amount in United States dollars determined by multiplying the Realizable Price by the number of Barrels of Available Crude Oil lifted by a Party; "Production" means the activities involved in the extraction of Petroleum including, without limitation, the running, servicing, maintenance and repair of completed xxxxx, as well as of the equipment, pipelines, systems, facilities and plants completed during Development including all activities related to the planning, scheduling, controlling, measuring, testing, gathering, treating, storing and dispatching of Petroleum from the underlying Reservoir to the designated exporting or lifting locations and furthermore, the Decommissioning of xxxxx, facilities, pipelines and Reservoirs and related activities; "Production Period" has the meaning ascribed to it in Clause 4.6; 7 "Profit Oil" means the balance of Available Crude Oil after the allocation of Royalty Oil and Cost Oil; "Quarter" means a period of three (3) consecutive Months starting with the first day of January, April, July or October of each Year; "Realizable Price" means the price in United States dollars per Barrel determined in accordance with Clause 11; "Relinquished Area" means that portion of the Contract Area that is relinquished pursuant to and in accordance with Clauses 5.1(d) and/or 6; "Reservoir” means a porous and permeable underground formation containing an individual and separate natural accumulation of producible Petroleum that is confined by impermeable rock and/or water barriers and is characterized by a single natural pressure system; "Retained Area" means that portion of the Contract Area that is retained after a relinquishment under Clauses 5.1(d) and/or 6; "Royalty" or "Royalty Oil" means the quantum of Available Crude Oil allocated to the State, based on a percentage calculated as a function of daily production rates as set forth in Clause 10.1(a); "State" means the Democratic Republic of Sao Tome and Principe; "State Entity" means any entity or body which integrates the public administration’s structure of the State or, in any other way, an entity in which the State has a full equity or full interest ownership designated by the State under Clause 8 of this Contract; "Tax" means the tax payable pursuant to the Petroleum Taxation Law; "Unassociated Natural Gas" or “Unassociated Gas” means...
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Examples of Petroleum Taxation Law in a sentence

  • Such Tax shall be payable by the Contractor in accordance with the Petroleum Taxation Law, except as otherwise provided in this Contract.

  • The Contractor shall be subject to Tax on income derived from Petroleum Operations in accordance with the Petroleum Taxation Law.

  • Such amounts shall be computed in the manner set forth in the Petroleum Law, the Petroleum Taxation Law and the provisions hereof as stated in Article 4 of this Schedule 2.

  • Unless otherwise defined herein, capitalized terms used herein shall have the meanings assigned to such terms in the Contract or as defined in the Petroleum Law or the Petroleum Taxation Law.

  • Such amounts shall be computed in the manner set forth in the Petroleum Law, the Petroleum Taxation Law and the provisions hereof as stated in Article ‎4 of this Schedule 2.

Related to Petroleum Taxation Law

  • 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.

  • Data Protection Law means the applicable legislation protecting the fundamental rights and freedoms of persons and their right to privacy with regard to the processing of Personal Data under the Agreement (and includes, as far as it concerns the relationship between the parties regarding the processing of Personal Data by SAP on behalf of Customer, the GDPR as a minimum standard, irrespective of whether the Personal Data is subject to GDPR or not).

  • Agricultural production means the commercial production of food or fiber.

  • 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.

  • Taxation means all forms of taxation, duties, rates, levies, contributions, withholdings, deductions, liabilities to account, charges and imposts whether imposed in the United Kingdom or elsewhere in the world;

  • Electricity Act means the Electricity Act, 1998, S.O. 1998, c. 15, Schedule A;

  • Petroleum UST system means an underground storage tank system that contains petroleum or a mixture of petroleum with de minimis quantities of other regulated substances. Such systems include those containing motor fuels, jet fuels, distillate fuel oils, residual fuel oils, lubricants, petroleum solvents, and used oils.