Oil & Gas Notes

My notes around the oil & gas industry

Malaysia Crude Oil Terminal Requirement

This is the regulatory requirement for getting the terminal up and running. Trade License for terminal (state regulations). Storage License (Federal regulation, under KPDNHEP). Petroleum license (Federal regulations, under KPDNHEP, PDA 1974) . Terminal gazetted as “Protected Area” (Federal regulations)…. Read More ›

Calculating a VEF

When calculating Vessel Experience Factor (VEF), only the most recent 20 voyages should be used. And. A valid VEF is one that results from at least 5 qualifying voyages.

Vessel Experience Factor

Factor calculated from the ratios of historical Total Calculated Volumes (TCV) of vessel (minus OBQ and ROB) with the corresponding historical Total Calculated Volume (TCV) of shore delivered / received volume. Notes: OBQ – On board quantity ROB – Remained… Read More ›