Sales agreement crude oil tank bottoms

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An autonomous robot has successfully performed its first in-service inspection of the interior of an aboveground diesel storage tank, tank owner Phillips 66 reported Wednesday. Phillips 66 collaborated in the deployment with Square Robot, Inc. Square Robot designed and manufactured the autonomous robot, which has received National Electric Code Class 1, Division 2 C1D2 certification to perform inspections while a tank is in-service and filled with product.

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Would you like to access insightful data on more than 4, tank terminals? The TankTerminals. If you are an account holder and would like to use this resource, please use the Ask an Expert link.

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A move is actualized when support documentation ticket is received pipeline ticket, inspector documentation for a Barge, etc. The actualized amount represents that which will be invoiced. The difference between the actualized amount and the deal is an imbalance.

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Exhibit Execution Copy. In this Agreement, unless the context requires otherwise, the terms defined in the preamble have the meanings indicated and the following terms will have the meanings indicated below:.

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Hydrocarbon Inventory means i the hydrocarbon inventory at the Refinery that is owned by the Combined Companies as of Closing, including crude oil, blendstocks, ethanol, biodiesel, feedstocks and other raw materials including polymers and emulsifying compoundsintermediate petroleum products and finished products including gasoline, middle distillates and asphalttank heels and tank bottoms including all such items located in process units or interconnecting lines at the Refineryii all such products produced at the Refinery that are owned by the Combined Companies as of Closing where title has not passed to a customer prior to Closing and iii all hydrocarbons including crude oil, blendstocks, feedstocks and other raw materials, intermediate petroleum products and finished products, tank heels and tank bottoms in transit to the Refinery for which title has passed to MRCI. Sample 1. Hydrocarbon Inventory means the following hydrocarbon and hydrocarbon-derived inventory of the Seller located at or associated with the Facilities which shall be measured and valued in accordance with Schedule 2.

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Never miss a great news story! Get instant notifications from Economic Times Allow Not now. India seeks Saudi investment in strategic oil storage, rescue plan for refinery project.

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Most U. This capacity use calculation reflects only crude oil stored in tanks or underground caverns at tank farms and refineries, and excludes some crude oil that is included in commercial inventory data, such as pipeline fill and lease stocks held in production areas. EIA releases a report twice a year detailing crude oil and product storage capacity in the United States; this report describes two measures of capacity.

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Diesel fuel is one of the products created from crude oil. During the refining process, the viscous dark thick crude oil is turned into the much lighter diesel fuel. We must first understand what crude oil is and then how petroleum diesel fuel is produced.

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Crude oil is what you have after natural gas has been separated from fluid pumped out of a well. It includes oil, other petroleum products such as paraffin, and water. The crude oil system and lines are everything in the tank battery after the separator, including stock tanks, heater-treaters, and other tanks and lines.

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