The Oil Taxation (Market Value of Oil) Regulations 2006

The adjustment factors — general

This section has no associated Explanatory Memorandum

13.—(1) The adjustment factor applicable to the Category 1 oil in question must be added to the average reference value.

(2) The adjustment factor is found—

(a)in accordance with regulation 14 in the case of Brent blend; and

(b)in accordance with regulation 15 in the case of other Category 1 oil.