25 CFR 226.12 - Government reserves right to purchase oil.

Regulations last checked for updates: Nov 24, 2024

Title 25 - Indians last revised: Mar 22, 2024

View all text of Part 226 [§ 226.1 - § 226.46]

§ 226.12 - Government reserves right to purchase oil.

Any of the executive departments of the U.S. Government shall have the option to purchase all or any part of the oil produced from any lease at not less than the highest posted price as defined in § 226.11.

authority: Sec. 3, 34 Stat. 543; secs. 1, 2, 45 Stat. 1478; sec. 3, 52 Stat. 1034, 1035; sec. 2(a), 92 Stat. 1660; and Sec. 701, Pub. L. 114-74, 129 Stat. 599

source: 81 FR 39573, June 17, 2016, unless otherwise noted.

cite as: 25 CFR 226.12