31 C.F.R. § 561.318

Current through September 30, 2024
Section 561.318 - Petroleum

The term petroleum (also known as crude oil) means a mixture of hydrocarbons that exists in liquid phase in natural underground reservoirs and remains liquid at atmospheric pressure after passing through surface separating facilities.

31 C.F.R. §561.318

78 FR 16408, Mar. 15, 2013