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Title: CALCULATIONS OF LIQUID PETROLEUM QUANTITIES
Author: Keith Fry
Source: 2022 International School of Hydrocarbon Measurement
Year Published: 2022
Abstract: There are a variety of ways to calculate liquid petroleum quantities. Some methods will be better than the others, depending on the measurement application. Unfortunately, the outcomes of different methods, even though they may be valid, may come up with different results. This could be a cause of controversy and dispute between different parties trading or accounting for quantities of liquid petroleum. This is the reason for standards. Petroleum measurement standards in the United States are industry-established means of determining what is universally or widely accepted by the industry. They are usually agreed upon in a contract between different entities or between parties within the same organization. Outside of the United States, standards may be dictated by the government. Every common liquid petroleum quantity calculation can be found in a standard.

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