Oil sales

Seller shall be responsible for any costs or expenses in respect of the vessel including any demurrage, retention, delay or other charges, fees or duties resulting from the failure of the Loading Port to comply with the Security Regulations, and shall reimburse Buyer for any such costs or expenses actually incurred by Buyer. Buyer shall not resell any Oil purchased under this Agreement to any Person not an Affiliate of Buyer. Should any such damage occur, Buyer shall post such security for the payments provided in the preceding sentence as Seller may request; it being understood that Seller may detain the vessel at the Loading Port until such security shall have been posted. This obligation shall be of a continuing nature and shall terminate five years after the date of termination of this Agreement. Article 1.

Rosneft Key Tax Principles. Any arbitral award may be confirmed or embodied in any order or judgment of any court of competent jurisdiction. In the event that this Agreement shall fail to address any relevant issue with respect to nominations, procedures at the Loading Port s , quality or quantity measurement, or inspections, then the Parties shall apply the relevant provision of the General Terms and Conditions, as the same may be in effect from time to time; it being understood and agreed by the Parties that the Ministry has the right, from time to time and at any time, to modify any provision of the General Terms and Conditions in any manner as the Ministry shall see fit; provided , however , that any such modification shall be generally applicable to sales of crude oil by Seller and made generally known to the public. If Seller notifies Buyer that it objects to an independent inspector nominated by Buyer, the Parties shall designate another independent inspector by mutual agreement. Buyer shall furnish to. The designations come one day after Washington blacklisted nine companies from South Africa, China and Hong Kong for trading Iranian oil.

No Extension of Contract; Right to Terminate. Health, Safety and Environment. Energy Information Administration release showing national and regional monthly biodiesel production. No Waiver; Cumulative Remedies. Measuring and gauging shall be performed in accordance with one of the following measurement systems in decreasing order of preference, depending on the operational conditions prevailing at the Loading Port involved. Buyer represents and warrants to Seller that:. In any event, without prejudice to the right of either Party to pursue a claim in accordance with Article 16, the determination of the independent inspector shall govern for purposes of the quantity stated in the bill of lading and the obligation of Buyer to make payment in accordance with the provisions of Article 8.

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Buyer shall be entitled to substitute another vessel for any vessel designated in an Agreed Lifting Program; provided , however , that the substitute vessel shall have substantially the same characteristics including carrying capacity as the vessel previously nominated and accepted pursuant to Article Delivery shall be deemed completed when the Oil passes the permanent flange connection of the delivery hose at the Loading Port. Article 2 Purchase and Sale. All headings herein are for convenience only and shall not affect the construction or interpretation of any of the terms hereof. Qtr 2. The volume of each loading of Oil shall be determined by an independent inspector selected as provided in Article 4. Allowed Laytime.
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We supply over one million barrels per day of crude oil and condensates to our customers around the world. Without prejudice to Article 15 and except to the extent otherwise expressly provided in the Particular Conditions of Sale, all rights, powers and remedies provided hereunder are cumulative and not exclusive of any rights, powers or remedies provided by law or otherwise. The lifting program as finally determined pursuant to the provisions of Article Loading Port Regulations. Executive Director of Supply and Commerce. If Buyer does not furnish Seller with a proposed lifting program complying with the requirements of this Article Contents of Invoices; Substantiating Documentation.
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Seller shall report periodically to Buyer on the average volume of crude oil sold under the Formula Price to such non-Affiliated buyers and shall. Sustainable Development. Buyer also acknowledges that standard procedures in effect at the Loading Ports from time to time relating, inter alia, to quality and quantity measurements, safety in loading, and inspection of vessel tanks, shall supplement but not conflict with the procedures specified herein. Article 24 Compliance with Law. The right of either Party to terminate under this Article 17 shall be in addition to any other rights or remedies including, but not limited to, the right to seek damages provided to such Party under this Agreement or otherwise.
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Notwithstanding the provisions of the preceding sentence, the expenses incurred in connection with a shifting of any vessel which is attributable to one of the events referred to in Article 5. Select a section. For purposes of this Agreement, the following terms, when capitalized, shall have the meanings indicated below:. Annual U. Article 6 Limited Market Adjustment. The report contains data for all operating U. From extended bearing life greases to l ow-temp greases, we have it all.
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The right of Buyer to demurrage pursuant to this Article 5. Marketscan U. Domestic Sales of Petroleum Products. Seller shall pay all export taxes or duties imposed by the government or any political subdivision or taxing authority thereof having jurisdiction over the Loading Port from which the Oil is deemed to have been exported. In the event of any purported assignment or delegation by Buyer in contravention of the provisions of this Article 19, Seller shall have the right, without prejudice to any other rights or remedies it may have hereunder or otherwise, to terminate this Agreement effective immediately upon notice to Buyer.
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Oil sales:

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