Oil Pipeline Uniform Accounting Regulations (C.R.C., c. 1058)

81 (1) A company shall record any amounts earned as a result of its tariff relating to oil allowances covering losses due to shrinkage or other factors.

(2) Oil allowances referred to in subsection (1) shall be valued at not more than the market value at point of delivery and shall be debited to account 9 (Oil Inventory) and concurrently shall be credited to account 505 or 555 (Allowance Oil Revenue).

(3) Gains in oil allowances resulting from pumping, temperature corrections or other factors shall be debited to account 9 (Oil Inventory) and credited to account 505 or 555 (Allowance Oil Revenue).

(4) Shortages in oil allowances shall be debited to account 505 or 555 (Allowance Oil Revenue) and credited to account 9 (Oil Inventory).

(5) Where, at balance sheet date, the debits to account 505 or 555 (Allowance Oil Revenue) exceed the credits, the net debit shall be debited to account 620-8 or 720-8 (Oil Loss).