Free on board (f.o.b.)

{
  "id": "MLC-T-ENE-000851",
  "term": "Free on board (f.o.b.)",
  "field": "Energy",
  "definition": "In the international petroleum industry, this term typically refers to the price of oil or natural gas actually charged at the producing country's port of loading. The reported f.o.b. price includes deductions for any rebates and discounts or additions of premiums where applicable and should be the actual price paid to the seller with no adjustment for the cost of ocean freight, insurance, or credit. For coal and breeze, f.o.b. has the dual meaning of the price of coal at the coal mine, or the price of coal at the producer country’s port of loading, both before the cost of insurance, freight, and credit.",
  "abbreviation": "F.O.B",
  "subject": "Petroleum",
  "references": [
    "EIA Glossary"
  ],
  "url": "https://mlchart.com/terminology/energy/free-on-board-f-o-b/"
}