Netback definition

nĕtbăk
The value of a unit of crude oil or natural gas calculated as the sales price of the products refined from it minus the cost of producing those products.
noun
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(oil industry) Revenues received from the sale of oil or gas on spot market minus the costs of extraction, processing and transportation.
noun
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Other Word Forms

Noun

Singular:
netback
Plural:
netbacks

Origin of netback

  • From net + back. The term was widely adopted by the oil industry in the second half of 1985.

    From Wiktionary