Sample Crude Oil Purchase Agreement

E. Force majeure: with the exception of the payment due, each party is exempt from the responsibility for not performing this disability for the duration and to the extent that such failure is caused by war, unrest, insurrections, fires, explosions, sabotage, strikes and other labour or work disturbances, acts of God or elements, government laws, regulations or issues , action in support of the International Energy Program, the failure or failure of production or transportation facilities, pipeline carrier delays in receiving and supplying crude oil offers or other cases, similar or not, appropriately outside the control of that part. These performance defects are corrected by all appropriate shipments, but neither party is required to provide replacement quantities from other sources of supply. Non-performance due to events of force majeure does not extend the terms of this agreement. A. Measurements and tests: all measurements below must be made from static gauges at 100% of the refuelling table or by positive displacement indicators. All measurements and tests must be carried out in accordance with the latest ASTM or ASME (Code Meter petroleum) methods, which are then in effect, depending on the application. Volume and gravity are adjusted to 60 degrees Fahrenheit by the use of the D1250 oil measurement tables, Table 6A and 5A. The crude oil supplied must be marketable and acceptable in the common or separate electricity applicable to the air carriers concerned, but must not exceed 1% S-W.

Each party has the right to have a representative witness for all measurement instruments, tests and measurements. In the absence of the other party`s representative, these instruments of measurement, testing and measurement are considered correct. 4. To the extent that a volume of imbalance after the month of imbalance and except in the specific provisions of this agreement: 1) if the price indicated in this agreement is a fixed price or a formula price: the price of crude oil on a specified date or for a given period (for example. B “April 12, 2009” or “April 12-19, 2009”), the price of oil volumes is equal to that price, regardless of the month of actual delivery; and (2) if the price indicated in this agreement is a formula price, the price of crude oil, based on a date or over a range of dates that is not related to a date or range of dates determined (para. For example, “billing date,” “month of delivery,” “month of delivery,” “month of delivery” or “annual monthly average”), the price of the imbalance volume is calculated according to this formula for the actual month of delivery of the volume. “crude oil,” if any, crude oil or condensate. (5) Market price. Unless otherwise stated in this agreement, the market price of crude oil sold or traded under this agreement is the price of crude oil for the month of delivery indicated in this agreement and the indicator corresponding to the point of delivery indicated in this agreement, as indicated in the Platts Oilgram (“Platt`s”) price report for the date on which the party in liquidation announces this agreement.