Source: https://www.law.cornell.edu/cfr/text/19/part-146/appendix-lii4
Timestamp: 2015-06-02 07:59:45
Document Index: 662455376

Matched Legal Cases: ['art 146', 'art 146', 'art 146', 'art 146', 'art 146', 'art 146']

19 CFR Part 146, Appendix to Part 146 - Guidelines for Determining Producibility and Relative Values for Oil Refinery Zones | US Law | LII / Legal Information Institute
CFR › Title 19 › Chapter I › Part 146 › Appendix - Appendix to Part...Zones 19 CFR Part 146, Appendix to Part 146 - Guidelines for Determining Producibility and Relative Values for Oil Refinery Zones
View PDF at GPOPt. 146, App.
DProduct value
ER.V.Factor
FR.V.BBL
GDutiableBBL
A=Pounds Attributed.
B=Equivalent Barrels.
C=Price of Product.
D=B×C.
E=C/(Total of Column D/Attributed Crude BBLS).
Residual Oil RV Factor=15.00/(2,487/150)=.9047.
F=B×E.
G=Dutiable Barrels.
Since all products attributed to the 50,000 pounds (150 BBLS) of PF Class II crude entered customs territory duty equals $7.88 (150×.0525).
Consumed Process Loss
Jet Fuel (deemed exported on international flights)
Gasoline—Domestic Consumption
Petroleum coke exportations
Distillate for consumption
Petrochemicals exported
Class III D (domestic) crude
Class III NPF (nonprivileged foreign crude
There is a gain of 105,000−95,000=10,000
Valuebarrels
=$27.42 average value p/bbl
Class III NPF Crude (attribution of 577 solely for purposes of accounting for the amount of NPF used).
(8,789 feedstock attributed to Class III PF Crude).
Attributed Feedstock—Class III Crude: 615,000@ $105=$64,575 (estimated duties)
During that week the refiner actually removes the following products and reports those on the CF 7501 filed within 10 business days after the CF 3461 is filed. Column 3 is the actual “weighted average” value for the manufacturing period, therefore, no reconciliation is necessary.
2PFShipments(mbbls)
3Value/barrel(wt. avg.)
4Totalvalue(2)×(3)
5Relativevaluefactor(3)/(8)
6Feedstockdistribu.(5)×(2)
7Liq.duties(6)×(10)(9)
Class III Crude Consumed 518,451×$.105 = $54,437
Avg. Value/Barrel Crude Consumed=$16,756,891÷518,451=$32.321 (8)
This example shows volumetric gain of 21,602 mbbls. However, in that PF was requested, liquidated duties are only on actual feedstock (class III crude) used in the refining process. (518,451 @ $.105=$54,437).
3Value/barrel(platts)
4Totalvalue
Attributed Feedstock—Class III Crude: 615,000 @ $.105=$64,575 (estimated duties)
During the week the refiner actually removes the following products and reports those on the CF 7501 filed within 10 business days after the CF 3461 is filed. The reported relative values may be an estimate based on Platts, prior period actual prices, or the refiner's transfer prices. For this example, the estimates are based on the refiner's actual transfer prices. Listed below are the data to be shown on the weekly CF 7501s with actual quantities shipped and estimated values for weeks 1-5.
3Value/barrel(estimates)
6Feedstockdistrib.(5)×(2)
Class III Crude Consumed 518,451×$.105=$54,437
2PFshipments (mbbls)
3Value/barrel(estimated)
5Relativevaluefactor
6Feedstockdistrib.
7Liq.duties
Class III Crude Consumed 520,973×$.105 = $54,702
3Value/barrel(wt. avg.)actual
6Feedstockdistri.(5)×(2)
7Amendedwt. avg.duties(6)×(10)(9)
Value/Barrel(wt. avg.)
Thereafter, the information provided or both the CF 3461 and CF 7501 filed for each weekly entry with respect to relative values would remain the same. The only estimated amount would be the quantity to be removed on the CF 3461 as shown below. On the CF 3461 the refiner estimates the following shipments and uses a prior manufacturing period's actual weighted average values.
3Value/barrel(PP) (wt. avg.)
2PF shipments(mbbls)
3Value/barrel(PP)(wt. avg.)
6Feedstockdistri.
Class III Crude Used 520,973×$.105=$54,702
Avg. Value/Barrel Crude Used=$32.186
Class III Crude Used 515,983×$.105=$54,178
Avg. Value/Barrel Crude Used=$32.097
Class III Crude Used 523,149×$.105=$54,931
Avg. Value/Barrel Crude Used=$32.149
Class III Crude Used 229,233×$.105=$24,069
Avg. Value/Barrel Crude Used=$32.14
4Totalvalue(2×3)
6Feedstockdistri.(5×2)
7Liq.duties(6×(10)(9)
Class III Crude Used 2,307,423×$.105=$242,279
Avg. Value/Barrel Crude Used=$74,275,937÷2,307,423=$32.19 (8)
Title 19 published on 2014-04-01.No entries appear in the Federal Register after this date, for 19 CFR Part 146.