Guidance: Check the statutory market values for oil
Finance Classified by Officially
If you’re a participator in a UK oil field, you must use these defined market value rates if you dispose of:
Each taxable crude blend has a separate market value. There are 2 types of crude oil for valuation purposes.
Do not use these rates for arm’s length sales.
These are the crude oils valued using Price Reporting Agency data.
This publication shows category 1 values from 2024 to 2026. Earlier years are on the National Archives website.
All other blends (including LPGs and condensates) are classed as category 2.
Category 2 oils are valued using deal data supplied to the Large Business (LB) Oil and Gas Sector in Petroleum Revenue Tax Returns.
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Read the original at the source: https://www.gov.uk/government/publications/check-the-statutory-market-values-for-oil
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- September 29, 2026 09:00
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