Regulation 3 Amendment of the Oil Taxation (Nomination Scheme for Disposals) Regulations 1987

in paragraph (1) after “Brent-Forties-Oseberg forward contract” insert “or a Brent-Forties-Oseberg-Ekofisk forward contract”

after paragraph (2) insert—

“(3)

In paragraph (1) “a Brent-Forties-Oseberg-Ekofisk forward contract” means a contract which provides for settlement, at least 21 days after the date on which it is made, by the delivery of a volume of oil comprising, at the seller’s election, Brent blend, Forties blend or oil of Oseberg grade or oil of Ekofisk blend, or a cash payment.”