EITI glossary
This glossary is compiled by the EITI International Secretariat and is only provided as a resource.
- Cost oil
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Oil (or gas) produced that is shared with the contractor at a defined valuation, in accordance with a formula specified in the relevant production sharing contract. This enables the contractor to recover the costs spent on a project by the contractor.
- Country Workplan
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An action plan agreed by the national multi-stakeholder group. This includes the objectives and priorities for EITI implementation and associated activities. See Requirement 1.4
- Crude oil
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Oil that is not treated or refined.