Processed Condensate means a petroleum product derived from condensate that: (i) has been adequately processed through a distillation tower at a stabilizer, splitter or other distillation facility; (ii) has remained segregated; (iii) has not been blended with other hydrocarbons since its distillation; and (iv) meets any and all federal, state and local legal, administrative and regulatory requirements necessary for such product to qualify for exportation as EAR99 under the Export Administration Regulations.
Processed Condensate means liquid hydrocarbons that have been processed through a distillation tower or similar process or equipment.
Examples of Processed Condensate in a sentence
Processed Condensate Exports: A Change in Energy Policy?With some exceptions, crude oil exports are prohibited under current law, while many petroleum products may be freely exported without requiring a license from the Department of Commerce’s Bureau of Industry and Security (BIS).
The field gathering system and CGP in Area 11 will be owned and operated by Sundance after closing the Acquisition.The Processed Condensate Purchase Agreement and Crude Oil Purchase Agreement provide for the Midstream Partner to purchase crude oil and condensate at each CGP.
Shippers must request approval by Carrier of any Crude Petroleum or Processed Condensate not approved for transportation.