Petroleum Resource Rent Tax Assessment Act 1987

PART II - INTERPRETATION  

SECTION 2E   MARKETABLE PETROLEUM COMMODITY  

2E(1)    
A marketable petroleum commodity is a product listed in subsection (2) that:

(a) is produced from petroleum for the purpose of:

(i) sale; or

(ii) use as a feedstock for conversion to another product (whether a product listed in subsection (2) or not); or

(iii) direct consumption as energy; and

(b) is in its final form for that purpose.

2E(2)    
The products are as follows:

(a) stabilised crude oil;

(b) sales gas;

(c) condensate;

(d) liquefied petroleum gas;

(e) ethane;

(ea) shale oil;

(f) any other product specified in regulations made for the purposes of this paragraph.

2E(3)    
However, a product cannot be a marketable petroleum commodity if it has been produced wholly or partly from a product that was a marketable petroleum commodity.