Profit Petroleum definition

Profit Petroleum means, the total value of Petroleum Produced and Saved from the Contract Area in a particular period, as reduced by Cost Petroleum and calculated as provided in Article 16.

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Profit Petroleum has the meaning given in Article 9.1(c);

Profit Petroleum means all Petroleum produced and saved from the Contract Area in a particular period as reduced by Cost Petroleum and calculated as provided in Article 14.

Examples of Profit Petroleum in a sentence

Subject to the provisions of this Article 19, it is clearly understood that the actual prices received by the Company(ies) from the sales will form the basis for the purposes of cost recovery, Profit Petroleum sharing and payment of royalty as provided in the Articles 15, 16 and 17 respectively.
A Party’s share of Profit Petroleum in any Year, shall be calculated on the basis of the Investment Multiple actually achieved by the Contractor at the end of the preceding Year for the Contract Area as provided in Appendix-D.
A Party's share of Profit Petroleum in any Year, shall be calculated on the basis of the Investment Multiple actually achieved by the Contractor at the end of the preceding Year for the Contract Area as provided in Appendix-D.
Other categories of income shall be appropriately classified so as to calculate the Profit Petroleum correctly.
In accordance with the provisions of Article 16, the share of the Government and the Contractor respectively of Profit Petroleum from the Contract Area in any Year shall be determined by the Investment Multiple earned by the Contractor from the then Petroleum Operations at the end of the preceding Year.

More Definitions of Profit Petroleum

Profit Petroleum means Profit Crude Oil and Profit Natural Gas;

Profit Petroleum shall have the meaning given to it in Article 11.6.

Profit Petroleum has the meaning set out in Schedule 7;

Profit Petroleum means that portion allocated to the Parties of extracted Petroleum as described in this PSC, less the volumes of Petroleum designated for Royalty and recovery of Petroleum Costs pursuant to the terms and provisions of this Contract.

Profit Petroleum means Profit Oil and/or Profit Gas. „Dobit u uglji- kovodicima” znači Dobit u nafti i/ili Dobit u plinu.

Profit Petroleum means that portion of Disposable Petroleum, in excess of Cost Petroleum, which is allocated to the Parties under the terms of the EPC.

Profit Petroleum in relation to a PSC Contract means all Petroleum produced and saved from the Contract Area in a particular period as reduced by Cost Petroleum and calculated as provided in Article 14 of the Model PSC.