Profit Oil means the balance of Available Crude Oil after the allocation of Royalty Oil and Cost Oil;
Profit Oil. ’ means the volume of oil to be allocated under a production-sharing contract after cost recovery oil has been allocated to the contractor.
Profit Oil means the amount of production, after deducting cost oil production allocated to costs and expenses that would be divided between the participating parties and the host government under a Production Sharing Contract.
Examples of Profit Oil in a sentence
Such notice shall indicate the estimated quantities of Royalty Oil, Cost Oil and Profit Oil, each Party's estimated Lifting Allocation and the estimated Realizable Price used to prepare such estimated Lifting Allocations.
More Definitions of Profit Oil
Profit Oil shall have the meaning set out in sub-clause 27(3);
Profit Oil means the remaining Available Oil, after the Contractor has taken the Cost Oil pursuant to the provisions of Article 6.1.
Profit Oil has the meaning ascribed to it in the PSC.
Profit Oil has the meaning assigned in Article 35;
Profit Oil is defined as set forth in Article 11.10.
Profit Oil means that portion of the total production of Hydrocarbons, in excess of Cost Oil, which is allocated to the Parties under the terms of the Contract.