Such term shall not include any foreign personal holding company income (as defined in subsection (c)). (2) Paragraph (1) applies only where corporation has produced 1,000 barrels per day or more (A) In general The term foreign base company oil related income shall not include any income of a foreign corporation if such corporation is not a large oil producer for the taxable year. (B) Large oil producer For purposes of subparagraph (A), the term large oil producer means any corporation if, for the taxable year or for the preceding taxable year, the average daily production of foreign crude oil and natural gas of the related group which includes such corporation equaled or exceeded 1,000 barrels. (C) Related group The term related group means a group consisting of the foreign corporation and any other person who is a related person with respect to such corporation. (D) Average daily production of foreign crude oil and natural gas For purposes of this paragraph, the average daily production of foreign crude oil or natural gas of any related group for any taxable year (and the conversion of cubic feet of natural gas into barrels) shall be determined under rules similar to the rules of section 613A except that only crude oil or natural gas from a well located outside the United States shall be taken into account. . (C) Conforming amendments (i) Section 952(c)(1)(B)(iii) is amended by redesignating subclauses (I) through (IV) as subclauses (II) through (V), respectively, and by inserting before subclause (II) (as redesignated) the following new subclause: (I) foreign base company oil related income, . (ii) Section 954(b) is amended— (I) in paragraph (4), by inserting at the end the following new sentence: The preceding sentence shall not apply to foreign base company oil-related income described in subsection (a)(4). , (II) in paragraph (5), by striking and the foreign base company services income and inserting the foreign base company services income, and the foreign base company oil related income , and (III) by