Decision ID: 002668

In October 1998 the 1992 Fund Assembly decided that, to maintain consistency with the 1971 Fund Assembly’s decision at its 16th (October 1993) session that ‘contributing oil’ should be limited to ‘persistent oil’, the list of ‘contributing oil’ and ‘non-contributing oil’ attached to the oil reporting form annexed to the Internal Regulations should be amended to the effect that the classification of condensates was dependent on whether the type of oil in question was persistent. The Assembly approved a revised list of ‘contributing oil’ and ‘non-contributing oil’ attached to the form annexed to the 1992 Fund Internal Regulations and instructed the Director to review further the list.

Date: 30.09.1998
Category: Application of the Conventions
Subject: Interpretation of 'contributing oil' in Article 1.3 of the 1971 and 1992 Fund Conventions