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Petroleum and Gas (Royalty) Regulation 2021
sec.29Definitions for subdivision
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sec.29 Definitions for subdivision
In this subdivision— average sales price , for liquid petroleum for a petroleum producer for a royalty return period, see sections 31 and 32 . benchmark price , for liquid petroleum for a royalty return period, is the average, for the royalty return period, of the daily Europe Brent Spot Price FOB (Dollars per Barrel) converted into Australian dollars at the average hedge settlement rate for the royalty return period.