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|Glossary of petroleum Industry||Download this dictionary|
For the purposes of price regulation under the Emergency Petroleum Allocation Act of 1973, new oil is the production from a property in excess of production in 1972; all-subsequent production from a property producing in 1972. See Old Oil.
The following video provides you with the correct English pronunciation of the word "NEW OIL", to help you become a better English speaker.
| NEW OIL in English
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