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Contents

Official guidance
Oil Taxation Manual

OT05800 · PRT: attribution of blended crude oil -terminals liftings - contents

  • OT05805 · PRT: terminal liftings - introduction
  • OT05810 · PRT: terminal liftings - scope
  • OT05820 · PRT: terminal liftings - background
  • OT05830 · PRT: terminal liftings - how terminals (and offshore loading facilities) operate - the loading programme
  • OT05840 · PRT: terminal liftings - the attribution rules
  • OT05850 · PRT: terminal liftings - the basic formula (regulation 4)
  • OT05860 · PRT: terminal liftings - production entitlement
  • OT05870 · PRT: terminal liftings - delays and accelerations in loading
  • OT05880 · PRT: terminal liftings - attribution formula- the result
  • OT05890 · PRT: terminal liftings - volume of oil to be used in determining “A” (Regulation 3)
  • OT05900 · PRT: terminal liftings - balancing parcels (Regulation 2(1))
  • OT05910 · PRT: terminal liftings - treatment of balancing parcels (Regulation 6)
  • OT05920 · PRT: terminal liftings - allocation of oil sold under ‘Period of Entitlement’ and term contracts (Regulation 5)
  • OT05930 · PRT: terminal liftings - example
  • OT05940 · PRT: terminal liftings - period of entitlement purchaser not applying the rules operationally
  • OT05950 · PRT: terminal liftings - disposal of field interests- main rules (regulation 7)
  • OT05960 · PRT: terminal liftings - disposal of field interests- sale not proceeding (regulation 9)
  • OT05965 · PRT: terminal liftings - disposal of field interests- further provisions (Regulation 8)
  • OT05970 · PRT: terminal liftings - disposal of field interests - examples
  1. PRT: attribution of blended crude oil -terminals liftings - contents
  2. PRT: terminal liftings - balancing parcels (Regulation 2(1))

OT05900 | PRT: terminal liftings - balancing parcels (Regulation 2(1))

From HM Revenue & Customs · Oil Taxation Manual

A balancing parcel is defined for the purposes of these rules as the difference between:

  • The volume of oil nominated by the purchaser, and

  • The volume of oil actually lifted.

This figure may be positive or negative.

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