Explanatory Memoranda on the OPEC Resolutions: IV. 32, IV. 33, IV. 34 of the Fourth Conference Held in Geneva, April-June, 1962 |
Common terms and phrases
0.13 per barrel affiliates American income tax average basis Brokerage and selling buyer centimes Companies concerned Companies operating competition concessionnaire consuming countries credit against income crude oil effected crude oil prices crude oil sales downstream operations earnings equitable fact fall in crude governments of producing import income tax liability increase industrialized countries internal economy international oil companies intrinsic value Iranian justification Kuwait major international oil marketing expenses related marketing facilities Member Countries affected Middle East Nations World Exports oil industry oil operations operating costs owner paid Petroleum Exporting Countries petroleum products posted prices price decreases price of crude price of manufactured prior to August producing countries profits rate of royalty raw material refining and marketing related to crude revenue per barrel right of extracting royalty and income royalty payable royalty payments sale of crude seller selling services surplus producing capacity Switzerland taxation ultimate consumer Venezuela wasting asset World Exports Price