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Code of Federal Regulations (Last Updated: May 6, 2024) |
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Title 30 - Mineral Resources |
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Chapter II - Bureau of Safety and Environmental Enforcement, Department of the Interior |
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SubChapter A - Minerals Revenue Management |
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Part 206 - PRODUCT VALUATION |
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Subpart C - Federal Oil |
§ 206.118 - Are actual or theoretical losses permitted as part of a transportation allowance?
Latest version.
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You are allowed a deduction for oil transportation which results from payments that you make (either volumetric or for value) for actual or theoretical losses only under an arm's-
length contract. You may not take such a deduction under a non-arm's-length contract. Effective Date Note: At 69 FR 24979, May 5, 2004, § 206.118 was removed, effective July 6, 2004. At 69 FR 29432, May 24, 2004, the effective date was changed to Aug. 1, 2004.