API gravity
The industry standard method of expressing specific gravity of crude oils. Higher API
gravities mean lower specific gravity and lighter oils.
Associated gas
Gas occurring in combination with crude oil, as distinct from gas occurring separately or
manufactured from crude oil.
Barrel
A measurement used in the oil industry for a unit of volume of oil or oil products
equivalent to 158.978 litres or 42 US gallons. Abbreviated to "bbl".
Barrels per day
A unit of measurement used in the industry for the production rates of oil fields,
pipelines, and transportation. Abbreviated to "bpd", "b/d" or
"bbl/d".
Barrels per calendar day
Industry measurement of actual refinery throughput as opposed to designed capacity.
Derived by dividing the number of refined barrels of oil by the actual number of days the
refinery was in operation. Abbreviated to "b/cd".
"Black" oil
Crude oil or heavy fuel oil from the bottom of the refining process as opposed to
"white" oil.
British Thermal Unit (Btu)
The amount of heat it takes to raise the temperature of one pound of water by one degree Fahrenheit. It is also approximately equal to the amount of heat given off from burning a wooden kitchen match.
Condensate
A term used to describe light liquid hydrocarbons separated from crude oil after
production and sold separately.
Cracking
Refinery process whereby large, heavy, complex hydrocarbon molecules are broken down into
simpler and lighter molecules in order to derive a variety of fuel products.
Crude oil
A mineral oil consisting of a mixture of hydrocarbons of natural origin, yellow to black
in colour, of variable specific gravity and viscosity
Distillation
The first stage in the refining process in which crude oil is heated and unfinished
petroleum products are initially separated.
Downstream
The oil industry term used to refer to all petroleum activities from the processing of
refining crude oil into petroleum products to the distribution, marketing, and shipping of
the products.
Fuel oils
Oil that is heavy-distilled in the refining process. Frequently used for supplying energy
to power stations and factories.
Gas oil
A medium-distilled oil from the refining process. Often used in diesel fuel.
Hydrocarbons
Compounds containing only the hydrogen and carbon atoms. May be in solid, liquid or
gaseous form.
Hydrocracking
High pressure version of catalytic cracking in the presence of hydrogen.
Liquified natural gas (LNG)
Natural gas liquified either by refrigeration or by by pressure.
Liquified petroleum gas (LPG)
A mixture of butane, propane and other light hydrocarbons derived from refining crude oil.
At normal temperature it is a gas but it can be cooled or subjected to pressure to
facilitate storage and transportation.
Natural gas
Petroleum in gaseous form consisting of light hydrocarbons often found in association with
oil. Methane is the most dominant component.
Operator
Term used to describe a company appointed by venture stake holders to take primary
responsibility for day-to-day operations for a specific plant or activity.
Petrochemicals
Chemicals such as ethylene, propylene and benzene that are derived from petroleum.
Pour point
The ability of crude oil to flow at low temperatures.
Refining
The process of converting crude oil into usable fuel products.
Refining margins
The difference in value between the products produced by a refinery and the value of the
crude oil used to produce them. Refining margins will thus vary from refinery to refinery
and depend on the price and characteristics of the crude used.
Reforming
Refinery process aimed at improving gasoline quality by changing chemical characteristics
rather than breaking up molecules as in cracking.
Reserves
An economically recoverable quantity of crude oil or gas.
Sour crude oil
Crude oil with a high sulphur content.
Specific gravity
A measure of the density of a material usually obtained by comparing it with water.
Sweet crude oil
Crude oil with a low sulphur content.
Terminal
Plant and equipment designed to receive and process crude oil or gas to remove water and
impurities.
Topping
The primary distillation phase of a refinery process, and by derivation, the type of
refinery and its yield of products
Throughput
The total amount of raw materials processed by a refinery or other plant in a given
period.
Upstream
The processes of exploring for oil, developing oil fields, and producing oil from the oil
fields.
"White" oil
Lighter products from the top end of the refining process as distinct from 'black"
oil.