PETROLEUM RESOURCE RENT TAX ASSESSMENT ACT 1987

PART II - INTERPRETATION  

SECTION 2E   MARKETABLE PETROLEUM COMMODITY  

2E(1)  
A marketable petroleum commodity is a product listed in subsection (2) that:


(a) is produced from petroleum for the purpose of:


(i) sale; or

(ii) use as a feedstock for conversion to another product (whether a product listed in subsection (2) or not); or

(iii) direct consumption as energy; and


(b) is in its final form for that purpose.

2E(2)  
The products are as follows:


(a) stabilised crude oil;


(b) sales gas;


(c) condensate;


(d) liquefied petroleum gas;


(e) ethane;


(ea) shale oil;


(f) any other product specified in regulations made for the purposes of this paragraph.

2E(3)  
However, a product cannot be a marketable petroleum commodity if it has been produced wholly or partly from a product that was a marketable petroleum commodity.




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