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  1. #1
    pars is offline Member
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    off-take

    Hi! What is the exact meaning of "off-take" in the following passage? It is abut an agreement on oil production. The sentence is originally from a political telegram from which sometimes several words were omitted. Does it mean "extraction"?
    Guaranteed minimum crude oil off-take of 300,000 barrels per day, with proportionate payments as in above.
    Thanks very much.

  2. #2
    GoesStation is offline Moderator
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    Re: off-take

    Someone in the oil business might know what the phrase meant sixty years ago.

    Remember to surround quoted text in quotation marks.
    I am not a teacher.

  3. #3
    andrew495 is offline Newbie
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    Re: off-take

    Not a teacher

    It is an amount of oil that buyer will exactly buy in the future. A buyer guarantees it. For example, you (seller) are going to produce 500 000 barrels per day in the next year. But already now you have known that 300 000 barrels per day are sold (having its buyer).
    Last edited by emsr2d2; 22-Jun-2017 at 16:49. Reason: Added "Not a teacher"

  4. #4
    emsr2d2's Avatar
    emsr2d2 is online now Moderator
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    Re: off-take

    Quote Originally Posted by andrew495 View Post
    Not a teacher

    It is an amount of oil that a buyer will exactly definitely buy in the future. A buyer guarantees it. For example, you (a/the seller) are going to produce 500,000 barrels per day in the next year. But You already now you have known know that 300,000 barrels per day are will be sold (having its they have a buyer).
    See above.

    Andrew495, you are welcome to help other learners but you must make it clear at the start of your post that you are not a teacher.
    Remember - if you don't use correct capitalisation, punctuation and spacing, anything you write will be incorrect.

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