Gross Standard Volume (G.S.V.): –
The total volume of all petroleum liquids and S&W, excluding free water, corrected by the appropriate temperature correction factor (Ctl) for the observed temperature and API gravity, relative density, or density to a standard temperature such as 60 deg F. or 15 deg C. and also corrected by the applicable pressure correction factor (Cpl) and meter factor.
Net Standard Volume (N.S.V.):-
The total volume of all petroleum liquids, excluding S&W and tree water, corrected by the appropriate temperature correction factor (Ctl) for observed temperature and API gravity, relative density or density to a standard temperature such as 60 deg F or 15 deg C and also corrected by the applicable pressure correction factor (Cpl) and meter factor.
