netbackn.adj.

Brit.

/ˈnɛtbak/, U.S.

/ˈnɛtˌbæk/

Origin: Formed within English, by compounding. Etymons: net adj., back adv.

Etymology: < net adj. + back adv.

Oil Industry.

A. n.

A means of setting (discounted) crude oil prices by deducting the processing and transportation costs from the gross value of the refined products. Also: a price calculated in this way; a payment made at such a price.

ΚΠ

1917 Q. Jrnl. Econ. 31 641 The December ‘net backs’ to the refineries (i.e., wholesale price minus freight and marketing cost) are taken as indicative of the extent to which the companies took advantage of the situation.

1953 Jrnl. Polit. Econ. 61 445/2 Brokers also provide a defense against the insecurity that comes with reliance on a single customer, thereby justifying a lower net-back on sales.

1977 Chem. Week (Nexis) 30 Mar. 13 Any restrictions of crude oil prices below the market value at the point of delivery will directly reduce wellhead netbacks, thereby discouraging Prudhoe Bay production.

1988 A. Davidson et al. Nat. Gas iii. 65 One approach is to pay producers a market-related price, which is essentially a netback to the well-head of the border price of a substitute fuel.

2001 Canad. Corporate News (Electronic ed.) 19 Apr. On a per BOE [sc. barrel of oil equivalent] basis, netbacks increased 203% and averaged $41.99/BOE during the quarter.

B. adj.

Of the selling price of crude oil: calculated by deducting processing and transportation costs from the gross value of the refined products.

ΘΚΠ

society > trade and finance > money > funds or pecuniary resources > [adjective] > of amount remaining after deductions

net1418

neat1599

netback1962

1962 Economist 21 July 255/2 Associated gas..came to be sold..with big cuts in price for interrupted offpeak supplies, and a tiny ‘netback’ price to the producer there at the other end of the pipeline.

1967 Jrnl. Polit. Econ. 75 423/1 He traces the evolution of the Persian Gulf as a second basing point during and after the war, when the so-called net-back formulas were alleged to govern price calculations.

1979 D. Meiring Foreign Body v. 155 That means a Mina Al Hath netback value for us for Propane of about $80 a ton.

1992 J. Creighton Oil on Troubled Waters 81 Saudi Arabia..reacted to market pressures by initiating a number of netback deals, amounting to discounts on official prices.

1999 Europe Energy (Electronic ed.) 26 Nov. [The measures] include selling a significant volume of gas at netback prices.

This is a new entry (OED Third Edition, September 2003; most recently modified version published online March 2022).

单词	netback
释义	netbackn.adj. Brit. /ˈnɛtbak/, U.S. /ˈnɛtˌbæk/ Origin: Formed within English, by compounding. Etymons: net adj., back adv. Etymology: < net adj. + back adv. Oil Industry. A. n. A means of setting (discounted) crude oil prices by deducting the processing and transportation costs from the gross value of the refined products. Also: a price calculated in this way; a payment made at such a price. ΚΠ 1917 Q. Jrnl. Econ. 31 641 The December ‘net backs’ to the refineries (i.e., wholesale price minus freight and marketing cost) are taken as indicative of the extent to which the companies took advantage of the situation. 1953 Jrnl. Polit. Econ. 61 445/2 Brokers also provide a defense against the insecurity that comes with reliance on a single customer, thereby justifying a lower net-back on sales. 1977 Chem. Week (Nexis) 30 Mar. 13 Any restrictions of crude oil prices below the market value at the point of delivery will directly reduce wellhead netbacks, thereby discouraging Prudhoe Bay production. 1988 A. Davidson et al. Nat. Gas iii. 65 One approach is to pay producers a market-related price, which is essentially a netback to the well-head of the border price of a substitute fuel. 2001 Canad. Corporate News (Electronic ed.) 19 Apr. On a per BOE [sc. barrel of oil equivalent] basis, netbacks increased 203% and averaged $41.99/BOE during the quarter. B. adj. Of the selling price of crude oil: calculated by deducting processing and transportation costs from the gross value of the refined products. ΘΚΠ society > trade and finance > money > funds or pecuniary resources > [adjective] > of amount remaining after deductions net1418 neat1599 netback1962 1962 Economist 21 July 255/2 Associated gas..came to be sold..with big cuts in price for interrupted offpeak supplies, and a tiny ‘netback’ price to the producer there at the other end of the pipeline. 1967 Jrnl. Polit. Econ. 75 423/1 He traces the evolution of the Persian Gulf as a second basing point during and after the war, when the so-called net-back formulas were alleged to govern price calculations. 1979 D. Meiring Foreign Body v. 155 That means a Mina Al Hath netback value for us for Propane of about $80 a ton. 1992 J. Creighton Oil on Troubled Waters 81 Saudi Arabia..reacted to market pressures by initiating a number of netback deals, amounting to discounts on official prices. 1999 Europe Energy (Electronic ed.) 26 Nov. [The measures] include selling a significant volume of gas at netback prices. This is a new entry (OED Third Edition, September 2003; most recently modified version published online March 2022). < n.adj.1917
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