150Rate of royalty

Start here

Get a plain-English read of 150

Turn the raw legal text into a practical explanation grounded in Petroleum Act 1998.

150 Rate of royalty

Royalty is to be paid—

(a) at the rate of 10% of the value of the petroleum at the well-head; or

(b) if a different rate is specified in the licence under which the petroleum was extracted or recovered, at that different rate.