Expands on the calculation methods pertaining to metering petroleum liquids using turbine or displacement meters contained in Chapter 12.2, Part 1 provides the general introduction of this standard which is divided into five parts each published separately. The base (reference or standard) volumetric determination of metered quantities is discussed along with the general terms required for solution of the various equations. General rules for rounding of numbers, including field data, intermediate calculations numbers, and discrimination levels are specified. NOTE: This standard, divided into five parts, each published separately, rigorously specifies the equations for computing correction factors, rules for rounding, calculation sequence, and discrimination levels to be employed in the calculations. Part 2 focuses on the calculation of metered quantities for fiscal purposes or measurement tickets. Part 3, still under development, applies to meter proving calculations for field operations or proving reports. Parts 4 and 5, anticipated to be published in early 1997, will apply to the determination of base prover volumes by the waterdraw method and the master meter method, respectively. Until Parts 3, 4, and 5 are published, users are to refer to Chapter 12.2, First Edition.