Statutory market values for oil
Find statutory market values for disposal of category 1 oil from a UK field, which has not been sold at arm's length.
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If you’re a participator in a UK oil field, you must use these defined market value rates if you dispose of:
- crude oil
- liquefied petroleum gases (LPGs)
- condensate
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.
Category 1 oil
These are the crude oils valued using Price Reporting Agency data.
The crudes for category 1 are:
- Brent
- Ekofisk
- Flotta
- Forties
- Statfjord
This publication shows category 1 values from 2021 to 2024. Earlier years are on the National Archives website.
Category 2 oil
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.
The valuation methods used are similar to the way each particular blend is sold at arm’s length, and are agreed with industry.
Updates to this page
Published 8 November 2014Last updated 16 December 2024 + show all updates
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The daily values for all category 1 crude oils for November 2024 have been added.
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The daily values for all category 1 crude oils for October 2024 have been added.
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The daily values for all category 1 crude oils for September 2024 have been added.
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The daily values for all category 1 crude oils for August 2024 have been added.
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The daily values for all category 1 crude oils for July 2024 have been added.
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The daily values for all category 1 crude oils for June 2024 have been added.
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The daily values for all category 1 crude oils for May 2024 have been added.
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The daily values for all category 1 crude oils for April 2024 have been added.
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The daily values for all category 1 crude oils for March 2024 have been added.
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The daily values for all category 1 crude oils for February 2024 have been added.
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The daily values for all category 1 crude oils for January 2024 have been added.
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The daily values for all category 1 crude oils for December 2023 have been added.
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The daily values for all category 1 crude oils for November 2023 have been added.
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The daily values for all category 1 crude oils for October 2023 have been added.
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The daily values for all category 1 crude oils for September 2023 have been added.
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The daily values for all category 1 crude oils for August 2023 have been added.
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The daily values for all category 1 crude oils for July 2023 have been added.
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The daily values for all category 1 crude oils for June 2023 have been added.
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The daily values for all category 1 crude oils for April and May 2023 have been added.
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The daily values for all category 1 crude oils for January, February and March 2023 have been amended.
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The daily values for all category 1 crude oils for March 2023 have been added.
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The daily values for all category 1 crude oils for February 2023 have been added.
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The daily values for all category 1 crude oils for January 2023 have been added.
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The daily values for all category 1 crude oils for December 2022 have been added.
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The daily values for all category 1 crude oils for November 2022 have been added.
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The daily values for all category 1 crude oils for October 2022 have been added.
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The daily values for all category 1 crude oils for September 2022 have been added.
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The daily values for all category 1 crude oils for August 2022 have been added.
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The daily values for all category 1 crude oils for July 2022 have been added.
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The daily values for all category 1 crude oils for June 2022 have been added.
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The daily values for all category 1 crude oils for April and May 2022 have been added.
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The daily values for all category 1 crude oils for March 2022 have been added.
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The daily values for all category 1 crude oils for February 2022 have been added.
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The daily values for all category 1 crude oils for January 2022 have been added.
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The daily values for category 1 crude oils for December 2021 have been added.
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The daily values for category 1 crude oils for November 2021 have been added.
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The daily values for category 1 crude oils for October 2021 have been added.
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The daily values for category 1 crude oils for September 2021 have been added.
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The daily values for category 1 crude oils for August 2021 have been added.
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The daily values for category 1 crude oils for July 2021 have been added.
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The daily values for all category 1 crude oils for April, May and June 2021 have been amended.
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The daily values for all category 1 crude oils for April, May and June 2021 have been added.
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The daily values for all category 1 crude oils for March 2021 have been amended.
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The daily values for all category 1 crude oils for January, February and March 2021 have been added.
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The daily values for all category 1 crude oils for December 2020 have been added.
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The daily values for all category 1 crude oils for November 2020 have been added.
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The daily values for all category 1 crude oils for October 2020 have been added.
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The daily values for all category 1 crude oils for September 2020 have been added.
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The daily values for all category 1 crude oils for August 2020 have been added.
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The daily values for all category 1 crude oils for July 2020 have been added.
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The daily values for all category 1 crude oils for June 2020 have been added.
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The daily values for all category 1 crude oils for May 2020 have been added.
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The daily values for all category 1 crude oils for April 2020 have been added.
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The daily values for all category 1 crude oils for March 2020 have been added.
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The daily values for all category 1 crude oils for February 2020 have been added.
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The daily values for all Category 1 crude oils for October 2019, November 2019 and December 2019 have been updated and the values for January 2020 have been added.
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The daily values for all Category 1 crude oils for December 2019 have been added.
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The daily values for all Category 1 crude oils for November 2019 have been added.
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The daily values for all Category 1 crude oils for October 2019 have been added.
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The daily values for all Category 1 crude oils for September 2019 have been added.
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The daily values for all Category 1 crude oils for June 2019 and July 2019 have been updated and the values for August 2019 have been added.
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The daily values for all Category 1 crude oils for July 2019 have been added.
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The daily values for all Category 1 crude oils for June 2019 have been added.
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The daily values for all Category 1 crude oils for May 2019 have been added.
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The daily values for all Category 1 crude oils for April 2019 have been added.
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The daily values for all Category 1 crude oils for March 2019 have been added.
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The daily values for all Category 1 crude oils for February, 2019 have been updated and published on the GOV.UK website.
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The daily values for all Category 1 crude oils for January 2019 have been added.
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The daily values for all Category 1 crude oils for December 2018 have been published.
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The daily values for all Category 1 crude oils for November 2018 have been published.
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The daily values for all Category 1 crude oils for October 2018 have been published.
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The daily values for all Category 1 crude oils for September 2018 have been added.
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The daily values for all Category 1 crude oils for August 2018 have been added.
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The daily values for all Category 1 crude oils for July 2018 have been added.
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The daily values for all Category 1 crude oils for June 2018 have been added.
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The daily values for all Category 1 crude oils for May 2018 have been added.
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The daily values for all Category 1 crude oils for April 2018 have been added.
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The daily values for all Category 1 crude oils for March 2018 have been added.
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The daily values for all Category 1 crude oils for February 2018 have been added.
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The daily values for all Category 1 crude oils for January 2018 have been added.
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The daily values for all category 1 crude oils for December 2017 have been added.
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The daily values for all category 1 crude oils for November 2017 have been added.
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The daily values for all Category 1 crude oils for October 2017 have been added.
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The daily values for all Category 1 crude oils for September 2017 have been added.
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The daily values for all Category 1 crude oils for August 2017 have been added.
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The daily values for all Category 1 crude oils for July 2017 have been added.
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The daily values for all Category 1 crude oils for June 2017 have been added.
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The daily values for all Category 1 crude oils for May 2017 have been added.
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The daily values for all Category 1 crude oils for April 2017 have been added.
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The daily values for all Category 1 crude oils for February 2017 and March 2017 have been added.
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The daily values for all Category 1 crude oils for January 2017 have been added.
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The daily values for all Category 1 crude oils for December 2016 have been added.
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The daily values for all Category 1 crude oils for November 2016 have been added.
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The daily values for all Category 1 crude oils for October 2016 have been added.
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The daily values for all Category 1 crude oils for September 2016 have been added.
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The daily values for all Category 1 crude oils for August 2016 have been added.
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The daily values for all Category 1 crude oils for July 2016 have been added.
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The daily values for all Category 1 crude oils for June 2016 have been added.
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The daily values for all Category 1 crude oils for May 2016 have been added.
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The daily values for all Category 1 crude oils for April 2016 have been updated.
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The daily values for all Category 1 crude oils for March 2016 have been updated and published.
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The daily values for all Category 1 crude oils for February 2016 have been added.
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The daily values for all Category 1 crude oils for January 2016 have been added.
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The daily values for all Category 1 crude oils for December 2015 have been added.
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The daily values for all Category 1 crude oils for November 2015 have been added.
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The daily values for all Category 1 crude oils for October 2015 have been added.
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The daily values for all Category 1 crude oils for September 2015 have been added.
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The daily values for all Category 1 crude oils for August 2015 have been updated.
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The daily values for all Category 1 crude oils for July 2015 have been updated.
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The daily values for all Category 1 crude oils for June 2015 have been updated.
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The daily values for all Category 1 crude oils for May 2015 have been updated and published.
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The daily values for all category 1 crude oils for April 2015 have been updated and published on the GOV.UK website.
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The daily values for all Category 1 crude oils for March 2015 have been updated and published.
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The daily values for all Category 1 crude oils for February 2015 have been updated and published
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Large Business Service oil and gas market values for category 1 crudes for 2015 have been added to this page.
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Large Business Service oil and gas market values for category 1 crudes for December 2014 have been added to this page.
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First published.