Section 19 in The Cost Accounting Records (Petroleum Industry) Rules, 2002
19. Cost Statements. - (1) The Cost statement showing details of exploration, finding, production, refining and transportation etc. and all elements of cost of current financial year and previous year shall be prepared for the process and adopted for producing, processing and manufacturing of the products or activities referred under rule 2 in Proformae A to I.
(2)The output emerging from a process, which forms input for a subsequent process shall be valued at the cost of production up to the previous stage.
