Petroleum and Gas (Royalty) Regulation 2021
sec.30Petroleum royalty for liquid petroleum
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sec.30 Petroleum royalty for liquid petroleum
If petroleum produced by a petroleum producer in a royalty return period is liquid petroleum, the producer must pay petroleum royalty for the period on the volume of liquid petroleum produced in the period at the following rate— if the average sales price for liquid petroleum for the producer for the period is not more than $50 per barrel—0.03 cents per barrel for each 1 cent per barrel more than $0 per barrel; if the average sales price for liquid petroleum for the producer for the period is more than $50, but not more than $100, per barrel—$1.50 per barrel plus 0.115 cents per barrel for each 1 cent per barrel more than $50 per barrel; if the average sales price for liquid petroleum for the producer for the period is more than $100 per barrel—$7.25 per barrel plus 0.125 cents per barrel for each 1 cent per barrel more than $100 per barrel.
- (a) if the average sales price for liquid petroleum for the producer for the period is not more than $50 per barrel—0.03 cents per barrel for each 1 cent per barrel more than $0 per barrel;
- (b) if the average sales price for liquid petroleum for the producer for the period is more than $50, but not more than $100, per barrel—$1.50 per barrel plus 0.115 cents per barrel for each 1 cent per barrel more than $50 per barrel;
- (c) if the average sales price for liquid petroleum for the producer for the period is more than $100 per barrel—$7.25 per barrel plus 0.125 cents per barrel for each 1 cent per barrel more than $100 per barrel.