Royalty Oil means the total volume of crude petroleum oil and other hydrocarbons and associated substances from the Leases, including such substances as crude oil, condensate, natural gas liquids, or return oil from crude oil topping plants, that may be blended with crude oil before the Point of Delivery and tendered as a common stream to the State as Royalty Oil that the State may take in-kind, regardless of whether the State takes the Royalty Oil in-kind.

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);

Royalty Oil means the quantity of crude oil that will generate an amount of revenues from the sale of crude oil equal to the actual amount necessary to pay Royalty and concession rentals.

Examples of Royalty Oil in a sentence

The purchase and sale of Royalty Oil under this Agreement are subject only to the warranties the State has expressly set forth in this Agreement.
Buyer and Guarantor acknowledge that the State may be required to provide six Months’ notice to the Lessees before the State may decrease its in-kind nomination of Royalty Oil in any Month.
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.
The State can deliver Sale Oil only to the extent it receives Royalty Oil from the Lessees.
This “Final Best Interest Finding and Determination for the Sale of Alaska North Slope Royalty Oil to Petro Star Inc.” (Final Finding and Determination) provides a summary of DNR’s proposed royalty in- kind contracts with Petro Star.

More Definitions of Royalty Oil

Royalty Oil means the quantum of available crude oil allocated to the relevant government or government corporation, which will generate an amount of proceeds equal to the actual payment of Royalty and Concession Rentals;

Royalty Oil and “Royalty Gas” means Net Oil Production or Net Gas Production, as the case may be, allocated for the satisfaction of Royalty obligations in accordance with Articles 6.1.1 and 6.1.2 respectively.

Royalty Oil has the meaning assigned to it in Section 2.1(a)(i) of the General Terms and Conditions.

Royalty Oil means crude oil, liquid petroleum products or gas condensates from wells or lease plants or a mixture of such products.

Royalty Oil means such Available Crude Oil as it is allocated to any Operator to enable the Operator or Contractor to discharge its obligations as defined anpayable to DRSTP and/or FGN and/or any other entity formed by DRSTP and FGN for the conduct of operations in the JDZ under ttieif respective laws and regulations.d Page 4 of 11 1.18 "Signature Bonus" shall mean any funds that an Operator or Contractor pays to DRSTP and/or FGN and/or any other entity formeod by ORSTP and FGN to acquire (the right to sign an Exploration and Production Agreement 1.19 Words importing the singular meaning include, unless the context otherwise demands, the plural meaning and visa versa.

Royalty Oil means that amount of oil