§ 352.16 - Oil inventory.

Related Notices
- 03-9260. Final rule. 03-9260. Accounting, Financial Reporting, and Rate Filing Requirements for Asset Retirement Obligations
- 02-28294. Notice of proposed rulemaking. 02-28294. Accounting, Financial Reporting, and Rate Filing Requirements for Asset Retirement Obligations

Latest version.

(a) This account shall include the cost of oil purchased and the value of oil acquired through tariff allowances and operating gains. Amounts paid preceding carriers for transportation, customs duties, or similar charges shall be charged to account 230, Allowance Oil Revenue. Additions to inventory from tariff allowances shall be credited to revenue at current value. Additions resulting from operating gains shall be credited against operating oil losses and shortages.

(b) The cost or value of oil owned by the carrier and used to maintain lines and working tanks in condition for transportation operations shall be included in account 33, Operating Oil Supply.

                    
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