INDUSTRY TERMS AND EXPLANATIONSABSOLUTE VISCOSITYAn observation of liquid’s rate of flow under pressure applied to neutral...
AROMATICSA family of hydrocarbons characterized by a single or multiple ring structure containing unsaturated carbon-carbo...
ATMOSPHERIC RESIDUEThe portion of crude oil taken as a bottoms product in a crude distillation unit which operates at atmo...
BITUMENMineral pitch rich in asphaltenes and other complex, high-molecular-weight molecules. These mixtures of heavyhydroc...
CAT GASOLINEThe motor fuel-blending component produced by catalytic cracking units.CAT NAPHTHASee CAT GASOLINE. Some refin...
CLEANUnleaded, when used to describe motor gasoline or blendstock.CLOUD POINTThe temperature where wax crystals begin to a...
COMBINATION CARRIERSVessels fitted to transport more than one type of cargo. The petroleum industry uses a good-sized flee...
COWCrude oil wash. A cleaning technique used by some ships. They spray a few tons of crude around their tanks to rinse off...
DEADWEIGHT TONNAGE (DWT)The standard measure of ships’ carrying capacity. The trade usually abbreviates this term to speak...
ELASTOMERA polymer that forms a disorganized molecular pile capable of uncoiling and recoiling in response to physical for...
FIXWhen a ship-owner and charterer make a deal, they say they have "fixed" a ship. They have settled all of the issuesincl...
FUEL BLENDINGMingling two or more materials, refinery streams ordinarily, to make a mixture that meets a grade of fuels le...
GSPGovernment selling price. The price of crude or products established by a government marketing company. Sometimeswritte...
HYDROCRACKERRefinery units which use a catalyst and extraordinary high pressure, in the presence of surplus hydrogen, to s...
INTERMEDIATE CRUDEPetroleum with sulfur content between sweet and sour--often defined as between 0.5 and 1.0 weight percen...
LAYCANThe period when a spot chartered ship must arrive to load a cargo. The word combines “laydays” and “cancellation” as...
LIGHT PRODUCTSRefinery products in the middle distillate and naphtha boiling ranges.LIGHTERINGShip-to-ship transfer of car...
MARKET RELATED                                                                   See FLOATING PRICE.                      ...
MRAFRAs 25,000 to 44,999 DWT class of tankers.NAPHTHAA product of crude oil or condensate refining which boils in roughly ...
NO. 2 OILASTMs designation for distillate fuel oil intended for burning in household and light commercial furnaces. A comp...
OPERATIONAL TOLERANCEFlexibility in the quantity of a stem, usually expressed as a small percentage of the sterns nominal ...
PARAFFINIC NAPHTHAA naphtha composed primarily of paraffinic molecules. In general, the feedstock trade considers 65 perce...
PPMParts per million. A convenient expression for very small concentrations of one ingredient (usually a contaminant) in a...
PYROLYSIS GASOLINEThe aromatics-rich naphtha-range stream produced in sizeable quantities by an ethylene plant when it cra...
REFORMERA catalytic processing unit which produces a highly aromatic stream (reformate) used primarily as high-octane blen...
SEVERITYThe degree of application of pressure, temperature, duration, or other critical processing conditions. The more ex...
RMG Industry Terms And Explanations Photos 2011
RMG Industry Terms And Explanations Photos 2011
RMG Industry Terms And Explanations Photos 2011
RMG Industry Terms And Explanations Photos 2011
RMG Industry Terms And Explanations Photos 2011
RMG Industry Terms And Explanations Photos 2011
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RMG Industry Terms And Explanations Photos 2011

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RMG Industry Terms And Explanations Photos 2011

  1. 1. INDUSTRY TERMS AND EXPLANATIONSABSOLUTE VISCOSITYAn observation of liquid’s rate of flow under pressure applied to neutralize density’s influence. This property, sometimescalled dynamic viscosity, converts to kinematical viscosity by division. With density ex-pressed in grams/cm, centistokesthe units of kinematical viscosity, and centipoises the units of absolute viscosity.Centipoises/density = centistokesACTIVITYThe level of a catalyst’s ability to do its work. The scale descends from fresh (full capacity right from the box orrejuvenator) to spent (coated, poisoned, or otherwise neutralized.)ACTUAL SPECIFICATIONSThe quality reports on a specific parcel of fuel or feedstock. Such specifications do not constitute guarantees on the oilunless the seller says so. But they give a good description of the product available aboard a vessel or in a storage tank.AFRAAverage Freight Rate Assessments. A monthly estimate of tanker rates issued by London tanker brokers, AFRA, quoted ona Worldscale basis, assists large oil companies’ internal accounting, provides a freight element for some netback deals, andserves other purposes somewhat removed for the daily tanker business.AIR DRAFTThe distance between the surface of navigable water, such as a channel, and the lowest point on some obstruction aboveit, a bridge for instance. A ship cannot use a waterway if it needs more vertical clearance than available. This considerationprevents certain tankers from reaching some terminals.ALIPHATICStraight or branched chain carbon-based compounds. Hydrocarbons which lack carbon-ring structures. Aliphatics includesthree kinds of molecules: paraffins, olefins, and a particularly reactive sort called acetylenes, which contain triple carbon-carbon bonds.ALKYLATEA high-quality motor gasoline component made by combining isobutene and propylene or butylenes. Butylenes alkylatehas a particularly high motor octane rating which suits it well for blending lead-free grades of automobile fuel and aviationgasoline. Both butylenes and propylene alkylate boil fairly low in the gasoline range. This characteristic makes them good“front-end” octane.ALKYLATION UNITA piece of refining equipment that combines isobutane and an olefinic stream, usually butylene-rich, to make motoralkylate.ANILINE POINTA specification, quoted in degree Fahrenheit in the USA and Centigrade elsewhere, which reports the aromatics content ofa hydrocarbon mixture. This quality consideration indicates the susceptibility of a vacuum gasoil to catalytic crackingbecause paraffins crack well, but aromatics do not. The higher the temperature the better, since higher temperaturesmean less aromatics, hence more paraffins.ANTIKNOCK INDEXThe average of a motor gasoline’s or blending component’s RON and MON (RON + MON)/2, sometimes written (R + M)/2.API DEGREES (API)The units of API’s density scale. See below THE ROBERT MCANGUS GROUP – MARBELLA SPAIN Page 1 ©
  2. 2. AROMATICSA family of hydrocarbons characterized by a single or multiple ring structure containing unsaturated carbon-carbon bonds.Common aromatics which boil in the gasoline range (benzene, toluene, and xylenes, in particular) have a very high octanerating. Reformers produce high octane blend-stock by making aromatics. The "A" in PONA and N+A stands for aromatics.ASHCarbonaceous residue produced by burning crude oil and petroleum products. The industry tests fuels and otherhydrocarbon mixtures in order to determine how much of this combustion by-product will form in ordinary use of itsproducts. Refiners and others also use ash yield to deduce the presence of metallic soaps, abrasive solids, and other ash-causing contaminants in hydrocarbon mixtures.ASPHALTA mixture of heavy carbon-based compounds containing a high percentage of multiple-ring aromatics, many of theminvolving sulfur, nitrogen, and oxygen atoms. Some folks use the word, asphalt, interchangeably with bitumen, the nameof its characteristic constituent.ASPHALT CEMENTA derivative, nearly or completely solid at room temperature, of certain crude oils. This black, tarry material usually comesfrom vacuum residue. It has several industrial applications. Pavers heat it to liquid form and mix in gravel to make roadsurface materials called blacktop, macadam, tarmac, or "asphalt". Builders use it to make and join bricks, to coat roofs,and to form shingles. It glues together various manufacturedgoods.ASPHALTENESComplex molecules which reveal their ring-structures bydissolving in aromatic liquids but not in paraffins. Thesecompounds may influence the burning and blendingcharacteristics of residual oils, if present in sufficientconcentrations. They contribute to the high melting temperatureand adhesion of bitumen and asphalt cement.ASSAYAn elaborate laboratory report describing in detail the quality ofgrades of crude oil. The data presented includes, among otheritems, density, sulfur, naphthenicity, pour point, viscosity,distillation, and information on the quality of individual fractions.They tell a refiner what products he can make from a specificcrude.ASTMAmerican Society for Testing and Materials. An organization which determines and publishes consensus standards ofsuitability and quality for a wide variety of materials including petroleum and refined products. ASTM develops andendorses methods of testing hydrocarbons properties as well as definitive specifications for such classes of refined productas fuel oils, aviation kerosene, burning kerosene, and motor gasoline.ATMOSAbbreviation of atmospheric-pressure distillation, as in atmos bottoms and atmos gasoil.ATMOSPHERIC DISTILLATIONA technique for separating hydrocarbon mixtures which uses distillation apparatus operated at atmospheric pressure.Generally, the industry specifies ambient pressure to distinguish products of crude distillers, atmospheric fractions, fromthe products of vacuum flashers which, as the name implies distill atmospheric residue in a partial vacuum.ATMOSPHERIC GASOILThe heaviest product boiled by a crude distillation unit operating at atmospheric pressure. This fraction ordinarily sells asdistillate fuel oil, either in pure form or blended with cracked stocks. In blends atmospheric gasoil, often abbreviated AGO,usually serves as the premium quality component used to lift lesser streams to the standards of saleable furnace oil ordiesel engine fuel. Certain ethylene plants, called heavy oil crackers, can take AGO as feedstock. THE ROBERT MCANGUS GROUP – MARBELLA SPAIN Page 2 ©
  3. 3. ATMOSPHERIC RESIDUEThe portion of crude oil taken as a bottoms product in a crude distillation unit which operates at atmospheric pressureunder several other names apply to this product including atmos (atmospheric) reside, atmos bottoms, atmospheric fuel oil long reside, straight-run heavy fuel oil and topped crude. AVAILABILITY A quantity of crude or product a supplier could sell AVGAS Familiar designation of aviation gasoline AVIATION GASOLINE High-grade motor fuel blended to meet the requirements of piston-type aero plane engines. This specialty product differs in all critical respects from aviation turbine fuel (jet). AVIATION TURBINE FUEL (ATF) The fuel burned by aero planes jet engines. Civilian aircrafts consumes akerosene-range product variously known as jet kero, jet A-1, avtur, DERD-2494, and JP1. Warplanes needed special fuels.Two military grades, JP-4 and JP-5 fall within the common notion of AFT.BACKHAULA tankers revenue-producing return voyage. Some ships shuttle between two tankers ports. They travel in one directionas dictated by normal oil flow patterns or refining systems needs. Often, they have no natural employment from whenthey discharge to their port of origin where another load awaits. They would like to find a cargo to pay their costs on thisreturn trip. Otherwise, they must return in ballast. Charters often relet ships at bargain back haul rates for these voyages.They prefer some income to none.BALLASTWater taken aboard a vessel to increase its draft, steady its motion, correct its trim, or otherwise make it more seaworthywhen sailing without cargo. The trade uses this word to describe repositioning voyages or empty backhauls forced on ship.Hence, phrases appear like "ballasting Trans-Atlantic"BARGE LOTSQuantities of petroleum product accommodated in the sizes of barges in common use in a particular area. This termusually applies to small (less than cargo-size) volumes of product intended for regional distribution. On the US Gulf Coast,for instance, petroleum products barges typically range from 10,000 to 50,000 barrels. On the Rhine, barges typically carrylots as large as 1,000 tons.BASE STOCKA hydrocarbon mixture which makes up much of the volume of a gasoline blend. Usually such stocks have properties nottoo far removed from finished fuel because the minor components have to bring the entire blend within accepted limits ofgasoline quality. Base stocks in todays US motor gasoline include cat gasoline, reformate, and alkylate.BEAMThe breadth of a ship at its widest pointBENZENEThe simplest aromatic. This unsaturated six-carbon ring forms the basis of a whole class of compounds. The coalprocessing business first produced benzene in commercial quantities. This source still provides some of the material on themarket. But refinery and petrochemical plant reformers, toluene hydrodealkylators, and steam crackers now make most ofthe supply. The products of benzene range from egg cartons to pesticides to nylon stockings. THE ROBERT MCANGUS GROUP – MARBELLA SPAIN Page 3 ©
  4. 4. BITUMENMineral pitch rich in asphaltenes and other complex, high-molecular-weight molecules. These mixtures of heavyhydrocarbons and resins form the base of, and impart adhesive, semi-solid consistency to asphalt cement and tar.BLENDERSomeone or some organization which combines various components to produce motor gasoline. The term may accuratelyapply to refiners for they blend motor fuel from blendstock they produce or purchase. In many cases, however, the worddesignates gasoline makers who do not refine any crude oil and distinguishes them from the "refiners" who do.BLENDSTOCKA component combined with other materials to produce a finished petroleum product. The term applies most frequently tomotor gasoline ingredients.BOILING RANGEThe temperature spread between the points where a material starts and finishes evaporating. This term has an abstractusage- naphtha-range, for example. It also has a specific one, such as "naphtha with a 140-350 F range.BONDLinkage between atoms which holds together molecules. The basic bond involves two atoms connected by a pair of sharedelectrons. A double bond requires linkage by two pairs (four electrons). A triple bond puts six electrons between twoatoms.BOTTOMSUnvaporized material drawn from the lowest point of a fractionation column.BROMINE NUMBERA measure of the olefins content of a hydrocarbon mixture. In the petroleum intermediates trade, it serves primarily toindicate the presence of cracked stock in a cargo or stream. California air pollution laws also make it an importantspecification for motor gasoline and blendstocks offered in Los Angeles. As a rule-of-thumb, a mixtures bromine numberequals roughly twice its olefin content.BTXAn abbreviation for benzene, toluene, and xylene.BTX EXTRACTIONA solvent recovery process for capturing benzene,toluene, and xylenes from refinery andpetrochemical plant process streams (reformate andpyrolysis gasoline.)BUNKERSFuel, usually residue grades, burned by ships mainengines. The most familiar kind, called bunker Cmay contain a high concentration of sulfur and havea high specific gravity but must meet a viscosityspecification which assures free flow at thetemperatures vessels fuel systems can maintain.BURNING KEROSENEKerosene intended for use as domestic stove lamp fuel.BUTADIENEA four-carbon olefin. More precisely, a di-olefin because the molecule has two double bonds. Synthetic rubber productionconsumes much of the butadiene supply. Smaller amounts find an outlet in high-strength resins manufacturing.BUY/SELLA swap in which, for accounting purposes or other reasons, company A sells a parcel to company B while B sells a secondparcel to A. Each party buys one and sells another.CARBON RESIDUEThe solid, impure carbon deposits (coke) left behind by burned hydrocarbon fuels. The industry uses two tests, Conradsoncarbon (Con Carbon) and Ramsbottom carbon to measure oils tendency to form such solids. THE ROBERT MCANGUS GROUP – MARBELLA SPAIN Page 4 ©
  5. 5. CAT GASOLINEThe motor fuel-blending component produced by catalytic cracking units.CAT NAPHTHASee CAT GASOLINE. Some refiners could, if their markets made it desirable, hydrotreat cat gasoline to make a naphthasuitable for some use other than motor fuel blending, such as steam cracker feedstock.CATALYTIC CRACKERThese refinery units, also widely known as cat crackers and FCCs (for fluid catalytic crackers) or FCCUs, convert heavydistillate, most commonly vacuum gasoil, to lighter fractions. Refiners use them, basically, to break molecules which boil inthe heavy distillate range to shorter, more volatile hydrocarbon chains suitable for making motor gasoline.CATFEEDThe charge fed to a catalytic cracker. Common usage generally restricts this term to describing vacuum gasoilsCENTIGRADE DEGREES (C)Also known as Celsius degrees. A temperature scale according to which water boils at 100 and freezes at 0. Centigrade, orCelsius, degrees convert to Fahrenheit degrees by the following formula: (C x 1.8) + 32=F.CENTISTOKEThe unit, commonly abbreviated cSt, of kinematic viscosity which reports a liquids resistance to flow in terms of itsmeasured viscosity divided by its density.CETANE RATINGSee CETANE NUMBER.CETANE INDEX (CI)An estimated diesel fuelperformance rating whichrelies on samples API gravityand mid-pointCI=-420.34 + 0.016G2 +0192G log M+ 65.01 (LOG M)2-0.0001809M2where G= API gravity and M=mid-point in FCETANE NUMBERA performance indicator for diesel fuel analogous to the octane rating applied to gasolines. The more paraffinic the gasoil,the higher its Cetane number.CHARTER PARTYA document in which a ship owner and a Charterer state their agreement to terms for carriage of cargo.CHARTERERThe party who contracts for use of a ship. He can do so for a voyage, a spot charter, or a period, a time-charter.CHEMICAL CARRIERSee PARCEL TANKER.CHLORIDESChlorine-containing compounds. The oil trade pays most attention to these substances when discussing naphtha.Reformers need a specific amount of chloride on their catalyst to perform properly, any more or any less amounts topoison. Naphtha feedstock containing any significant amount of chlorides upsets the delicate balance and reduces reformatyield. THE ROBERT MCANGUS GROUP – MARBELLA SPAIN Page 5 ©
  6. 6. CLEANUnleaded, when used to describe motor gasoline or blendstock.CLOUD POINTThe temperature where wax crystals begin to appear in a cooled hydrocarbon mixture. This quality consideration, usuallyapplied to gasoil, indicates how cold the air must become to make a stream form solids which block filters halting fueldelivery. Cloud point of gasoil resembles freezing point of kerosene.COAContract of affreightment. An arrangement between a ship owner and a charterer for the carriage of a certain amount ofspecified grade or grades of cargo on named routes over a period of time. Owners may use any suitable ships at theirdisposable to meet the contracts requirements.COILEDTankers fitted with tubes which carry hot water or steam through viscous cargoes, such as heavy fuel oil and certaincrudes, to keep them fluid. COKE Solid, almost hydrogen-free carbon made on purpose in fuel oil destruction units called cokers or inescapably in other processing hardware. Coke forms on the catalyst in cat crackers and in the furnaces of ethylene plants. The coke manufactured intentionally may go to the graphite industry if it meets certain quality requirements. Otherwise it sells as solid fuel. The incidental accretions require removal to keep process units efficient. COLD BLENDER See blender. European producers of motor gasoline who have no distillation or other refining equipment go by this name. They make their product by mixing purchased "cold" components. This term has the advantage over the simple "blender" used in the USA of emphatically distinguishing a certain group of low-capital motor fuel makers from the refinery-based gasoline producers who also, of course, blend streams to obtain their finished products. COLD FILTER PLUGGING POINT A measure of diesel fuels suitability for use in cold weather. Usually called by its initials, CFPP, this specification reports the temperature where clotted wax stops fuel from passing through a test filter. CFFP goes beyond cloud point, which indicates where the cause of problems appears. It tells the fuel temperature where real trouble, like a stalled truck, happens. COLONIAL GRADE Light petroleum product which conforms to one of the specifications of Colonial Pipeline Company.COLONIAL PIPELINEThe on-land pipeline system connecting US Gulf Coast refineries to Southeast and Atlantic Coast markets. The main arteryruns from Deer Park, Texas, to Linden, NJ. It has the effective capability to carry roughly 2.1 million barrels per day ofclean products, including gasolines, home heating oils, diesel fuels and kerosene’s. The system serves more than 280petroleum-marketing terminals in thirteen states. Specifications required to move motor gasoline and No. 2 oil through theColonial pipeline have become the quality standard for cargoes of these products imported on the US East Coast.Transporting a gallon of gasoline from Houston, Texas, to the New York harbor area via the Colonial pipeline costs about2.3 cents. Moving product through roughly 1,550 miles of pipeline typically takes three to four weeks.COLORA spectrum which extends from absolutely colorless (usually described as water white) to dirty (black and opaque). Thisproperty only pertains usefully to light refined products and gas liquids. It makes a handy indicator of contamination orpoor distillation for very pale substances such as naphtha and undyed motor gasoline. The industry uses several scales toreport color including Saybolt and ASTM. THE ROBERT MCANGUS GROUP – MARBELLA SPAIN Page 6 ©
  7. 7. COMBINATION CARRIERSVessels fitted to transport more than one type of cargo. The petroleum industry uses a good-sized fleet of OBOs, shipswhich transport dry cargo or oil.COMPATIBILITYThe suitable of two or more residues for blending. Some stocks--certain visbroken resides and hydrotreated bottoms, forinstance--do not combine well enough to yield stable fuel oils.COMPONENTOne part of a blend. The word most commonly names streams combined to make motor gasoline. In that usage, it servesas short version of "mogas component". Though not used casually, "gasoil component," “heavy fuel oil component" andsimilar designations make perfect sense.CONDENSATENatural gas liquids heavier than butane. The term condensates commonly covers two quite different kinds of streams:natural gasolines and heavy condensates. Natural gasolines come from LPG or LNG plants. They have properties similar tonaphtha’s. Heavy condensates resemble very light crude oils. Sometimes called field condensates, they come from gas/oilseparation plants which process the raw stream from a gas field. Since they come as a by-product of gas production, muchas associated gas comes as a by-product of crude production, associated crude suits them as a description.CONRADSON CARBON (CONCARBON)A measurement of hydrocarbon mixturestendency to leave carbon deposits (coke)when burned as fuel or subjected tointense heat in a processing unit such asa catalytic cracker. The ConCarbon testinvolves destructive distillation -subjection to high temperature whichcauses cracking, coking, and drives offany volatile hydrocarbons produced--andweighing the residue which remains. Asomewhat similar test, Ramsbottomcarbon, also measures mixtures tendencyto form coke. For reasons of laboratoryconvenience, analysts ordinarily restrictthe Ramsbottom method to hydrocarbonswhich flow 90 C. To obtain a usefulindication of carbon residue formation bylight distillates, such as high-speed diesel,the industry often measures cokeformation by the last 10 percent of the material to boil. This technique goes by names such as "ConCarbon residue on 10percent bottoms."CONTRACT DEALSee TERM DEAL.CONVERSIONCracking molecules which boil above the threshold temperature into smaller ones which boil below it. Traditionally, theterm applied to catalytic crackers. They convert oil which boils above 430 F to hydrocarbons which boil below that point. Inother words, they convert gasoil to naphtha. The recent popularity of residue crackers has established another conversionstandard around 720 F. This point marks the elevation of fuel oil to light products. Loosely, the term refers to anyprocessing step which breaks molecules into pieces which boil at lower temperatures.CO-PRODUCTSSubstances made in one processing unit at the same time. A lot of refining hardware, especially crackers, cannot helpmaking an assortment of hydrocarbons. The industry uses "co-product" when it does not want to designate one material aplants product and demean the rest by calling them by-products. Its name gives a good clue why an ethylene cracker getsbuilt. But petrochemical companies call the other olefins and the aromatics it makes its co-products. THE ROBERT MCANGUS GROUP – MARBELLA SPAIN Page 7 ©
  8. 8. COWCrude oil wash. A cleaning technique used by some ships. They spray a few tons of crude around their tanks to rinse offthe remains of previous cargoes. This method cannot make a dirty vessel clean. But it can do enough good to preventexcessive darkening of not particularly color-sensitive cargo.CRACKEDBroken by a thermal or catalytic process. This term frequently describes an oil product which contains cracked componentsmade by such a process.CRACKED COMPONENTAn ingredient in a hydrocarbon blend produced by a cracking process. The opposite of a virgin or straight-run component.Blends containing any cracked components do not qualify as straight-run. The presence of cracked components makesrefinery streams unsuited for certain feedstock uses. The issue arises most frequently regarding heavy fuel oils. Companiesbuying such streams to produce catfeed want a virgin material containing no cracked components.CRACKED CUTTERSCycle oils used to reduce the sulfur content or, especially, the viscosity of fuel oil.CRACKED FUELFuel oil containing molecules broken in a cracking unit. The term most frequently applies to residue. It distinguishesstreams unsuitable for upgrading from straight-run material of interest as feedstock.CRACKED GASSee UNSATURATED GASES.CRACKED NAPHTHAGeneral term for any naphtha-range fraction produced bya molecule breaking process. The category includes catgasoline from a catalytic cracker, visbroken naphtha froma visbreaker, and coker naphtha from a coking unit. Inordinary usage, this term signifies streams with a higholefin content. That custom discourages its application tohydrocrackate and pyrolysis gasoline, known,respectively, for their naphthenes and aromaticsconcentrations.CRACKED STOCKSee CRACKED COMPONENT. Cracking units producecracked stocks such as cycle oils and cat naphtha’s usedfor blending finished products.CRACKERA processing unit which breaks molecular bonds, usually to produce lighter hydrocarbons with lower boiling points.Commercial crackers (cracking units) include cat crackers, hydrocrackers, thermal crackers, visbreakers, and streamcrackers.cStAbbreviation of centistoke.CUTTo divide a hydrocarbon mixture into fractions by distillation. Also a name for the fractions obtained, as in kerosene cut ornaphtha cut.CUTTER (CUTTER STOCK)A refinery stream used to thin a fuel oil or gasoil. Viscosity reduction and sulfur level adjustment provide most of therequirement for the cutter.CYCLE OILCat cracking unit produced in the fuel oil or gasoil boiling range. The term light cycle oil generally describes products ofthis kind suitable for blending into diesel or home heating oil. Heavy cycle oil, accordingly, refers to the cat crackedmaterial which boils at temperatures in the fuel oil range. THE ROBERT MCANGUS GROUP – MARBELLA SPAIN Page 8 ©
  9. 9. DEADWEIGHT TONNAGE (DWT)The standard measure of ships’ carrying capacity. The trade usually abbreviates this term to speak simply of tankers"deadweight." This specification reports total weight, usually in long tons, of fresh water, stores, bunkers, and cargo avessel can carry. For oil tankers, cargo averages 95 to 96 percent of the total.DELAYED COKERA coking unit (coker) which provides a drum where heated molecules crack and coke forms.DEMURRAGEThe cost of delaying a ship. Busy channels, occupied berths, commercial considerations, lack of shore tankage, pumpinglimitations, and a host of other eventualities related to how or where a charterer uses a vessel can prevent it from loadingor unloading promptly. When they do, the ship’s owner charges for a waiting time.DENSITYA description of oil by some measurement of its volume to weight ratio. The industry usually relies on two expressions ofoils volume-weight relationship-specific gravity and API degrees. The larger a specific gravity number and the smaller anAPI number, the denser the oil.DISTILLATION CURVEThe boiling temperature distribution of a materials component molecules. Tests report this characteristic as temperatureat which various percentages of a sample have boiled or as the percentages which have boiled at various temperatures. DISTILLATION UNIT Separation equipment that heats a mixture and divides its ingredients according to the temperature where they boil. DISTILLER See DISTILLATION UNIT. A term most often used as shorthand for "crude oil distillation unit." DISTRIBUTORS Inland wholesalers. DOCTOR TEST An indicator to detect the presence of significant amounts of mercaptan sulfur in light hydrocarbon mixture. Materials passing this test carry the designation, "Doctor negative." Doctor negative stocks have sufficiently low mercaptan levels for use in motor gasoline. Doctor positivematerials do not necessarily have too much mercaptan, but may require a more quantitative test.DOWNSTREAMA relative term, which indicates greater removal from origins than some point of reference. For example, a petrochemicalplant which cracks naphtha lies downstream from a refinery. Money made by marketing products constitutes downstreamprofits compared to earnings on crude sales. The opposite of upstream.DPKDual-purpose kerosene. Product suitable for use as burning kerosene and aviation turbine fuel.DRAFTThe distance between a ships keel and waterline. The lowest part of a vessel lies this far below the surface of the water.Every ships draft changes with the amount of cargo aboard it, its trim and the temperature and salt content of the waterin which it floats. A ship reaches its deepest draft when fully laden in warm fresh water. The shipping industry calls thatdistance "tropical fresh" or "TF" draft. "Fresh" (F),"tropical"(T), "summer" (s), and "winter"(W) report increasingly shallowdrafts for a vessel; reflecting denser and denser water. THE ROBERT MCANGUS GROUP – MARBELLA SPAIN Page 9 ©
  10. 10. ELASTOMERA polymer that forms a disorganized molecular pile capable of uncoiling and recoiling in response to physical force and itsremoval. This ability to yield and recover makes a substance rubbery. Industry turns molecules into flexible, stretchable,compressible, resilient goods.ENGLERA not particularly popular method of measuring and reporting viscosity.EQUITY HOLDERSCompanies entitled to some portion of an oil fields production due to their investment in its development. See producers.ETHYLENETwo-carbon olefin used to make plastic films, fibers, molding compounds, and other products.ETHYLENE PLANTSee STEAM CRACKER. FAHRENHEIT DEGREES (F) A temperature scale according to which water boils at 212 and freezes at 32 Fahrenheit degrees convert to Centigrade degrees (C) by the following formula: (F-32)/1.8= C. FBP Final boiling point. FEEDSTOCK A product of oil or gas processing suitable for charging to (introduction into) an upgrading unit for further refining or transformation. In general, each stage of hydrocarbon processing regards the material, it receives for alteration as its feedstock and what it makes of that material as it product. A reformer, for instance, takes naphtha as its feedstock and yields reformat, its product. Reformate, in turn, serves as the feedstock for an aromatics extraction unit which isolates benzene, its product. The feedstock business deals in those partially refined petroleum streams (intermediates) and gas plant products processed by refinery units and basic petrochemical plants. FINAL BOILING POINT The temperature where a natural material or fraction finishes boiling. This temperature also goes by the name, end point. Some folks use the phrase " full boiling point." This expression has fallen into disfavor, though. It implies complete evaporation of the material in question--a degree of perfection not ordinarily achieved, or even sought, in the industrys laboratories and commercialfacilities.FINISHED GASOLINEMotor gasoline which meets the merchantability standards of a particular market. These specification fuels differ fromblendstocks called gasoline which require the addition of other components to make it fit for retail sale in one country oranother.FINISHING COMPONENTIngredients added to gasoline blends in small amounts to adjust the mixture to motor fuel standards. Finishingcomponents include toluene and MTBE.FIRM INDICATIONA suggestion from a prospective buyer or seller feeling his way toward a possible deal. Firm indications carry more weightthan the initial indications casually given in routine conversation. But they do not constitute an offer. They show distinctinterest but do not carry any specific obligations. THE ROBERT MCANGUS GROUP – MARBELLA SPAIN Page 10 ©
  11. 11. FIXWhen a ship-owner and charterer make a deal, they say they have "fixed" a ship. They have settled all of the issuesincluding the price, to employ the vessel.FIXED PRICEThe oil trade speaks of prices quoted in absolute figures, like $157 per ton and 44.875 cents per gallon, as fixed pricesthese numbers, and the transactions (called fixed-price deals) which use them, do not move with any price business inrecent yearsFLASH POINTThe temperature at which a hydrocarbon releases vapors in sufficient quantity to permit combustion.FLASHERSee DISTILLATION UNITFLEXIBILITYThe degree to which a processing unit can make a desired product from various feed stocks. The term applies particularlyto steam crackers. Some such plants can produce ethylene from a range of hydrocarbon streams spanning ethane tovacuum gasoil. Other units have less flexibility.FLOATING PRICEA price tied to some sensitive reference quotation. The oil business took this approach when market volatility made fixed-price deals too risky. In the late 1980’s the majority of crude and products deals which involve any substantial timeexposure use market-linked prices. One grade of crude floats with published quotes for another. Feedstock floats withfinished products. Fuel sold in supply regions float with price levels at consumption points. Physical material floats withprice levels at consumption points. Physical materials floats with futures exchange reports. And so forth.FLUID COKERA coking unit (coker) which makes coke in powdery, free-flowing form.FLUXRate of material flow. Some refiners use this word whendiscussing the fluidity or viscosity of petroleum products,particularly heavy ones.FLUXANTRate of materials flow faster or at lower temperatures.FRACTIONATING TOWERDistillation column.FRACTIONATIONDivision of a hydrocarbon mixture according to the boilingtemperature of its component molecules. This general termdescribes both distillation, which puts heat into mixtures toseparate them, and cooling techniques which work by heatremoval.FRACTIONSPart of a hydrocarbon mixture isolated according to thetemperature where it evaporates. Distillation units ordinarilydivide a combination of liquid hydrocarbons, such as crude oil or the output stream of a cracker, by sorting its moleculesinto portions with different boiling ranges. These parts, or fractions, also go by the name, cuts. The bottom and toptemperatures of a fraction sometimes serve as its designation, as in 180-330 fraction.FREEZING POINTThe temperature where aviation kerosene must remain free of wax crystals. These particles can clog jet engine fuel filtersand nozzles. This specification, therefore, indicates the suitability of kerosene for propelling airplanes into the cold air athigh altitudes. THE ROBERT MCANGUS GROUP – MARBELLA SPAIN Page 11 ©
  12. 12. FUEL BLENDINGMingling two or more materials, refinery streams ordinarily, to make a mixture that meets a grade of fuels legal andcommercial requirements. Refineries almost always sell finished products made from more than one component. Modernmotor gasoline, for all practical purposes, must comprise several blendstocks. No single material can meet all its variousspecifications. Kerosene and gasoline do not require blending the way mogas does. But refinery economics and the numberof processes which yield middle distillate fractions make combinations quite probable. Heavy fuel oil usually includesseveral streams in order to concoct a saleable material from the dregs of assorted units.FULL-RANGE NAPHTHASee WHOLE NAPHTHA.FUNGIBLEMarketable product. Typically refers to petroleum products moved by pipeline. As long as a particular grade of gasolinemeets Colonial pipeline specifications, for instance, it may travel and trade as fungible product. A fungible batch in theColonial system consists of 25,000 barrels or more of material from various suppliers, all of which meets the specificationspublished by the Pipeline company.FURNACE OILA term ordinarily reserved for the kind of gasoil used for household heating. The quality of this product can vary from placeto place. The USA, for instance, uses a lighter distillate for this purpose than do some European countries.GAS PLANTFacilities, which remove liquids from natural gas streams, bear this name. So do processing units in refineries whichfractionate the light ends distilled from crude or produced by cracking and other upgrading equipment. In both cases, theplant separates C3 and heavier materials from fuel gas. Some of this hardware cuts as deep as C2. Complex refineriesusually have two gas plants. One, the saturates gas plant, handles paraffinic, straight run light ends. The other, theunsaturated gases plant, takes care of olefinic gas streams which come from crackers.GASOILA refined petroleum product denser than motor gasoline and kerosene but lighter than residual oil. This hydrocarbonmixture has two common uses: fuel for furnaces and for small diesel engines. It gets several popular names from theseapplications, including diesel and furnace oil. The phrase distillate fuel distinguishes gasoil from heavier mixtures used inlarge burners and large, slow diesel engines. The trade frequently shortens this term to distillate. ASTMs designation, No.2 oil, serves as the primary name for gasoil in some parts of the world, especially North America. The refining industryemploys "gasoil"To name certain intermediates in addition to familiar finished fuels. These special usages generally attach, or assume andadjective which indicates the source of the intermediate, such as atmospheric gasoil, vacuum gasoil, coker gasoil, pyrolysisgasoil, and so forth.GASOLINE EXTENDERA component in motor gasoline blendadded exclusively for volume. Ethanol,for example, often has this limitedfunction in the USA.GRADE TRADEA swap of one kind of oil for another.Such business involves exchanges likesour crude for sweet and gasoil forgasoline.GRAVITYThe density or weight to volume ratio ofmaterials. The oil business usuallyexpresses this quality in API degrees orspecific gravity. THE ROBERT MCANGUS GROUP – MARBELLA SPAIN Page 12
  13. 13. GSPGovernment selling price. The price of crude or products established by a government marketing company. Sometimeswritten GEP, for government established price. See posted price.GUARANTEESA seller promises to deliver oil at least as good as the guarantees--guaranteed specifications--he puts on it. When materialsells on guarantees, the buyer can refuse to accept it, or demand a price adjustment, if it fails to meet any of them.HANDY-SIZED VESSELA tank ship suited to tie up at a T2 type pier. The mooring capacity of such berths restricts vessel length (LOA) to amaximum of 560-600 feet. In modern ship designs, this LOA allows a deadweight tonnage slightly exceeding 30,000. Sucha tanker defines the limit of a handy-sized cargo.HEART CUTA distillation fraction restricted to a narrow range to meet specific needs. The navy, for instance, buys a heart cut ofordinary jet kero known as JP-5.HEAVY CONDENSATESSee CONDENSATES.HEAVY FUEL OILA dense, opaque petroleum derivative made from the unboiled material, the bottoms or residue, from crude vacuumdistillation units plus, perhaps heavy product from crackers. Blends made to meet market or specific customers standardsoften also include quality improvers called cutter. Material marketable for burning fits the Number 6 (No. 6) oil descriptionin ASTMD 396. Ships consume a good portion of the No. 6 oil produced around the world. Seafarers customarily call theirvessels fuel bunkers. Some people use that name for all heavy fuel oil.HEAVY LIQUIDS CRACKERAn ethylene plant equipped to crack naphtha’s or gasoil’s.HEAVY NAPHTHAA naphtha cut with a boiling range which commonly extends from the end of the light naphtha range (300-400 F,depending on the intentions and needs of the refiner). See naphtha.HEAVY OIL CRACKERA variety of catalytic cracker designed to process straight-run fuel oil instead of vacuum gasoil.HIGH POURA description of distillate or residual fuel oils which do not flow at unusually low temperatures. Often, the term designatesordinary product and distinguishes it from material with uncommonly good cold properties.HIGH-SPEED DIESELDistillate fuel oil suitable for powering compression ignition engines operated above 1,000 RPM. Diesel of this quality fitsASTM classifications No. 2-D. Light-duty engines such as those which power trucks, buses, portable electricity generators,small boats, and some locomotives, burn this grade of fuel. HYDROCARBON A molecule composed entirely of carbon and hydrogen atoms. The industry usually includes sulfur and metals compounds which naturally occur in crude oil in casual uses of the word. Gasoline blending and marketing rely on the strict definition to exclude oxygen-containing substances such as alcohols and ethers. HYDROCRACKATE Naphtha-range product of a hydrocracking unit. Many refineries divide this stream into a light cut suitable for motor gasoline blending and a heavy one which makes excellent reformer feedstock. THE ROBERT MCANGUS GROUP – MARBELLA SPAIN Page 13 ©
  14. 14. HYDROCRACKERRefinery units which use a catalyst and extraordinary high pressure, in the presence of surplus hydrogen, to shortenmolecules. This process can crack a variety of hydrocarbons. It might change atmospheric gasoil to naphtha or reducenaphtha to LPG. In most cases, though, refiners use it to convert vacuum gasoil to high quality middle distillate. In periodsof strong motor gasoline demand, high severity operations can emphasize production of naphtha, called hydrocrackate,instead of diesel and kerosene.HYDRODEALKYLATION (HDA)Substitution of hydrogen for a hydrocarbon group in a molecule. Refiners most frequently apply the term to processingunits which turn toluene into benzene.HYDROSKIMMERA refinery more complex than a topping plant by virtue of having a reformer. That piece of equipment, in addition tomaking high octane motor gasoline blendstock, yields hydrogen. Even a fairly basic refinery can often use that by-productto improve the quality of its products. Hydroskimmers do not have cracking units.HYDROTREATINGPurification process which uses hydrogen to displace sulfur and metal contaminants from partially refined oil. The processalso reduces olefins and aromatics concentrations by saturating multiple bonds. Such clean-up work prepares processintermediates for upgrading units and blend stocks for specification fuel pools.IBPInitial boiling point.IGSInert gas system. If tank ships let air fill their tanks as they pump out oil, an explosive mixture of hydrocarbon vapor andoxygen can form. Any spark, such as static electricity, could cause catastrophe. To eliminate this danger, modern vesselsvent their tanks with gas which will not support combustion. Some use oxygen-depleted exhaust from the ships engines.The most sophisticated systems fill empty space in tanks with nitrogen.ILLUMINATING KEROSENESee BURNING KEROSENE.INDEPENDENT SURVEYORSThe inspection and testing organizations hired by petroleum companies todetermine how much and what quality of oil changed hands in performance on adeal. In the interest of impartiality, buyers and sellers usually share the cost ofinspections.INDICATIONA suggestion given by a prospective buyer or seller of what he might do. Indications imply no commitments. At this levelof discussions, folks can change their minds without serious consequences.INITIAL BOILING POINTThe temperature where a natural material or fraction begins to boil.IN-LINE BLENDINGThe practice of pumping various motor gasoline components from their individual storage tanks into a single pipe andmixing them in the process. Gasoline made in such fashion generally is intended for bulk in shipment. Typically it flowsdirectly aboard a vessel after blending. Refiners with limited capability to store a particular grade of gasoline frequently usethis method.INTEGRATED OIL COMPANIESOrganizations which find, produce, transport, and refine oil, and market oil products. Less complete enterprisesconcentrate on a part of this sequence. The industry calls its largest integrated companies the majors.INTERMEDIATEA partially refined petroleum stream. Such materials require further processing to make finished products. Variousintermediates sell as feedstocks. The industry also uses this word as an adjective to designate a medium score on somequality ranking--between sweet and sour, for instance. THE ROBERT MCANGUS GROUP – MARBELLA SPAIN Page 14 ©
  15. 15. INTERMEDIATE CRUDEPetroleum with sulfur content between sweet and sour--often defined as between 0.5 and 1.0 weight percent sulfur.ISOMEROne of two or more compounds of the same type and chemical formula but different configurations. For example two C4paraffins, isobutane and normal butane have the same number of carbon and hydrogen atoms. But the carbons form a Tshape in one and a straight line in the other. This difference gives each of the two isomers its own properties and uses.ISOMERATEThe motor gasoline blendstock made by a C5-C6 isomerization unit.ISOMERIZATIONA process which forces one isomer to become another. The most common application in the oil industry involves twistinglinear paraffins into branched-chain form. Many refiners turn into isobutane, and a normal pentane/ hexane stream into anisopentane/isohexane mix. Some petrochemicals producers use an isomerization process to make para-xylene as possiblefrom mixed xylenes.ISOPARAFFINSBranched-chain saturate hydrocarbons. Any paraffin composed of four or more carbon atoms can have one or moreisoparaffinic isomers. JET A nickname for kerosene-range aviation turbine fuel. A somewhat longer expression, jet kero, also enjoys wide popularity as a substitute for the formal designation. JET A-1 ASTM’s designation for the most common grade of aviation turbine fuel. JET KERO A shortened version of “jet kerosene.” See aviation turbine fuel. JP-4 Jet B. A common grade of military jet fuel. The industry habitually calls this product naphtha-type jet because it has a lower boiling range than civil jet kero. JP-5 A heart cut of jet A-1 favored aboard aircraft carriers for its high flash point. KEROSENE A petroleum product which boils between naphtha gasoil. This cut’s distillation range can vary to accommodate other products. Many refiners want to take naphtha as high as 350 or 375 F. In those cases, the kerosene cut has a rather high initial boiling point. Many crudes permit a good quality kerosene to start as light as 320 –330 F. For some crudes, kero’s final boiling point might come as low as450 F while for others it may exceed 500 F. Aviation turbine fuel, jet gives kerosene a large outlet. Household heating andilluminating markets also consume kerosene.KINEMATIC VISCOSITYA measure of liquid’s rate of flow under gravity. The standard test of this property determines the time a sample ofmaterial requires to drain through a laboratory vessel.KNOCKINGPre-ignition. If the gasoline/air vapor in a motor’s cylinders is too compressed, the heat produced will cause it to ignitewithout the aid of a spark. This uncontrolled combustion probably will not occur at the ideal moment to transfer energyand promote rotation of the crankshaft. In audible cases, the exploding fuel charge expands against a rising piston creatingvibrations and an accompanying rattle. THE ROBERT MCANGUS GROUP – MARBELLA SPAIN Page 15 ©
  16. 16. LAYCANThe period when a spot chartered ship must arrive to load a cargo. The word combines “laydays” and “cancellation” asdoes the concept. Charter parties specify a range of days when the terminal will receive the ship which corresponds to thelaydays of the stem. This period ends with the last moment a ship can give notice of readiness to berth and lift a cargowithin its laydays. If the tanker does not arrive by that point, the charterer usually has several options including cancellingthe charter.LAYDAYSThe ship-loading window allotted to a parcel of oil. A supplier names a period of time when his customer must lift the oil hehas purchased. Cargoes get several days, barges perhaps a single day, consistent with the time required to load thequantity involved. The window takes account of the flexibility needed in commercial shipping. But it also considers shoretank capabilities and the need to use terminals and berths efficiently. Laydays, also called stem dates, can become theidentity tag of a cargo. A refinery, for instance, which continuously produces and ships a grade of motor gasoline cannotmake many practical distinctions between one lot and another. Hence, the trade talks about some oil company’s July 14-16unleaded regular or December7-9 DERD –2494.LAYTIMEA specific number of hours, named in the pertinent charter party, a tanker must prepare to spend on berth at the ship-owners expense. Details vary from one fixture to another. Usually, though, owner and charterer agree on a total laytimefor a voyage which must accommodate loading and discharge. The charterer pays for any hours over that number asdemurrage.LEADTetra-ethyl (TEL) or tetra-methyl (TML)lead, primarily. These lead alkylsimprove the octane rating of certainmotor gasoline blendstocks quiteinexpensively. Concern about the healtheffects of lead and other airbornepollutants generated restrictions on useof these octane boosters in many partsof the world over the past few years.LEAD RESPONSEThe susceptibility of a motor gasolineblending component to octaneimprovement by addition of lead alkylanti- knock compounds.LIFTTo take purchased product by loading it aboard a transportation vessel at the point of production or storage.LIFTERA product purchaser who takes (lifts) crude, fuel, or feedstock physically from a producer’s or reseller’s facility. Oilfrequently has a buyer and a lifter. The buyer, sometimes a contract holder, sells his stem to someone else who lifts itfrom the source.LIFTING SUBJECTSConfirmation of a deal by removal of any exceptions--any subjects--left open at the time of its conclusion.LIGHT ENDSHydrocarbons lighter than naphtha derived from crude oil and natural gas processing. The industry also describes thiscollection of volatile materials as “C 4 and lighter.” Butane, propane, ethane and methane, the predominant hydrocarbonsin this cut, would evaporate once separated from the rest of the oil barrel unless confined in special storage vessels or re-dissolved in heavier fractions. All the substances in this fraction boil below 90 F.LIGHT NAPHTHAA naphtha cut with a boiling range which commonly extends from pentane through 175 F or perhaps a bit higher. Theexact end point varies with the needs and objectives refiner. See NAPHTHA. THE ROBERT MCANGUS GROUP – MARBELLA SPAIN Page 16 ©
  17. 17. LIGHT PRODUCTSRefinery products in the middle distillate and naphtha boiling ranges.LIGHTERINGShip-to-ship transfer of cargo in deepwater to complete loading of a vessel leaving a shallow load port (or berth) or topartially unload one which draws too much water to reach a shallow point.LOALength-over-all. Distance between the fore-most and aft-most points of a ship.LOADED SPECSThe quality of a cargo of oil as tested at loading aboard a vessel. Information frequently offered as actual specifications.LOADED SPECSThe quality of a cargo of oil as tested at loading aboard a vessel. Information frequently offered as actual specifications.LOCATION SWAPA deal in which companies trade oil in one place for some somewhere else.LONG RESIDUESee ATMOSPHERIC RESIDUE. LOW POUR A description of distillate or residual fuel oils, which flow at relatively low temperatures. Sometimes, the industry uses this term, and its opposite, informally. Frequently, though, it designates oil meeting specific standards of a particular market. LOW-SPEED DIESEL Very powerful, heavy-duty diesel engines such as those used to drive ocean-going ships and large electricity generators. These engines burn residual oil. LPG Liquefied petroleum gas. Propane and butane captured as by-products of natural gas and crude oil processing. LPG CARRIERS Tankers fitted to transport such volatile products as propane, butane, ammonia, and vinyl chloride monomer. These cargoes require high-pressure or refrigerated storage to keep them in liquid form. In these times of slack employment in their specialty, some of these tankers haul low-density clean products such as natural gasoline and naphtha. A few LPG carriers equipped with unusually powerful cooling systems can transport ethylene.LR-1AFRAs large-range 1 tankers. These ships deadweight tonnages fall between 45,000 and 79,999.LR-2AFRAs large-range 2 tankers. These vessels have deadweight tonnages between 80,000 and 159,999.LUMPSUMA price for oil transportation quoted as a total for the cargo. This approach differs from the popular practice of charging arate per ton carried. Lumpsums also differ from the rate method by including canal tolls and other items usually treated assurcharges. THE ROBERT MCANGUS GROUP – MARBELLA SPAIN Page 17 ©
  18. 18. MARKET RELATED See FLOATING PRICE. MEDIUM-SPEED DIESEL Moderately large diesel engines such as those which propel large boats and heavy-duty locomotives. These engines burn a heavy gasoil which sometimes takes their name. MERCAPTANS Mercaptan sulfur. Excessive concentrations of these malodorous organic sulfur molecules make motor gasoline unmerchantable. Blenders, therefore, want to know the mercaptan content of components they could consider buying. The kerosene trade pays careful attention to this form of sulfur too. Jet fuel, and sometimes burning kerosene, have mercaptans limits. METALS CONTENT A specification of concern to buyers of fuel oil and vacuum gasoil. Heavy metals, such as nickel, vanadium, and copper, poison cat-cracking catalysts. Most refiners specify a maximum metals limit for the catfeed and vacuum unit feedstock they would consider purchasing. Traces of metal, particularly lead, also worry reformer feedstock buyers. MIDDLE DISTILLATESProducts heavier than motor gasoline/naphtha and lighter than residual fuel oil. This range includes heating oil, diesel,kerosene, and jet kero.MID-POINTThe temperature where 50 percent (weight or volume basis, as specified) of a natural material or refined product hasboiled. Sometimes called 50 percent point.MOGASAn abbreviation of motor gasoline.MON (Motor Octane Number)A rating of the anti-knock properties of a finished motor gasoline or blendstock. The test determines MON simulatesdemanding engine operating conditions such as substantial loads and high speeds. The MON method yields lower numbersthan the RON (research octane number) test which reflects milder conditions.MONOMEROne molecular unit which links with others of its own or a similar kind to form a Styrene monomers, for instance, connectto form the familiar plastic, polystyrene.MOTOR ALKYLATEFull name of a gasoline blendstock often simply called alkylate.MOTOR GASOLINEPetroleum-derived fuel blend intended to power spark-ignited internal combustion automobile engines. This propellantsboiling range can span C4 through 430 F. In practice, it usually has a somewhat lower end point. Mogas must meet variousspecifications depending on the where and when it sells. Governments, climates, seasons, and market organizations allimpose quality restrictions on the product. Most grades intended for modern motors resemble the fuel described by ASTMD 439. Mogas differs in some respects from aviation gasoline (avgas) a mixture blended for internal combustion airplaneengines THE ROBERT MCANGUS GROUP – MARBELLA SPAIN Page 18 ©
  19. 19. MRAFRAs 25,000 to 44,999 DWT class of tankers.NAPHTHAA product of crude oil or condensate refining which boils in roughly the same range as motor gasoline. In general, thenaphtha distillation range spans from a bit less than 100 F, the boiling point of pentanes, through 300-400 F, depending onthe intentions and needs of the refiner. The trade refers to this entire C5 to 300-400 F cut as whole or full-range naphtha.Refiners often produce two separate naphtha cuts when they distill crude, a light and a heavy fraction. They have rule-of-thumb boiling ranges of C5 through 175-200 F and 175-200 through 300-400 F. Refiners obtain naphtha’s from conversionunits in addition to the straight-run streams from crude distillation. Catalytic crackers and cokers, in particular, producecracked streams which boil in the naphtha range. See light naphtha, heavy naphtha, hydrocrackate, naphthenic naphtha,paraffinic naphtha, and whole naphtha.NAPHTHENESHydrocarbon molecules with a carbon ring structure similar to aromatics. Naphthenes have saturated bonds rather thanthe unsaturated ones which characterize aromatics. Reformers make aromatics, the high-octane components they intendto produce, most easily by desaturation naphthenes rings. The "N" in PONA and N+A stands for naphthenes.NAPHTHENICHigh in naphthenes-ring content. Lower than ordinary paraffins concentration. In some casual applications this adjectivetacitly embraces aromatics as well as naphthenes, as in naphthenic naphtha.NAPHTHENIC NAPHTHAA naphtha stream with a comparatively highconcentration of naphthenes and aromatics. The termsreforming naphtha and N+A naphtha also identify thisclass of hydrocarbons. In general, American andJapanese companies regard a stream as naphthenic orhighly naphthenic if it has a naphthenes plus aromaticsconcentration of 40 percent or more. Europeans use alower standard-in the mid-30s. Naphthenic naphtha’snormally find use as reformer feedstock.NATURAL GASOLINEThe pentanes-and-heavier fraction produced byprocessing wet gas in an LNG or LPG plant. Suchmaterials can substitute for paraffinic naphtha’s in anumber of uses including, depending on the qualities ofindividual streams, gasoline blending and steam crackerfeedstock.NATURAL GASOLINEThe pentanes-and-heavier fraction produced by processing wet gas in an LNG or LPG plant. Such materials can substitutefor paraffinic naphtha’s in a number of uses including, depending on the qualities of individual streams, gasoline blendingand steam cracker feedstock.NEW WORLDSCALEThe Worldscale tanker rate schedule based on revised assumptions which take effect on January 1, 1989.NGLNatural gas liquids. Natural gas processing yields a variety of liquids which can range from ethane to field condensate. Thespecific liquids included under this designation differ from company to company and from one part of the industry toanother.NO OILASTMs grade of oil for commercial applications which benefit from heavy fuel but lack heated storage tanks. Refiners sellheavy distillate or a blend of distillate and residue as No. 4 oil. Medium-speed diesels can burn a version of this productdesignated No. 4-D. THE ROBERT MCANGUS GROUP – MARBELLA SPAIN Page 19 ©
  20. 20. NO. 2 OILASTMs designation for distillate fuel oil intended for burning in household and light commercial furnaces. A companiongrade, No. 2-D, fuels high-speed diesel engines. The USA, which relies more than other countries on ASTM specs to defineoil products, generally distributes just one kind of No. 2, a dual grade suited for diesels and burners. See gasoil.NO. 5 OILThe ASTM grade of residue suitable for unheated storage in mild climates.No. 6 oilHeavy fuel oil too viscous for burning without preheating. See residue.NO-HEART CRUDECrude fluid enough at ambient temperature to permit transportation in vessels which cannot heat it. NOR Notice of readiness. When a tanker reaches port to lift or deliver cargo, it gives its NOR. This signal announces its arrival and its desire to berth. Frequently, market-related crude and products deals price cargoes on or around their NOR dates, the days duly fixed and scheduled vessels arrive to load or discharge them. NORTHERN GRADE Motor gasoline that meets Colonial pipeline specifications for product delivered to points north of Greensboro, North Carolina. Both distillation range and volatility differentiate Northern grade gasoline from Southern grade. Finished gasoline must be more volatile in certain states during winter months to assure proper ignition. In warm weather less volatile finished gasoline helps prevent autos from suffering vapor lock. During the months of March, May, September and November the quality specifications are the same for both Northern and Southern grades. OBO Oil-Bulk-Ore carriers. These versatile ships can transport cargoes as various as crude oil, grain, coal, and metal ore. They feature simply-shaped holds without exposed hull framework to permit easy cleaning between cargoes of different kinds. Certain OBOs, called PROBOs specialize in carrying oil products (vegetable and mineral) and soft bulk cargo. Efficient participation in the petroleum products trade requires these ships to have epoxy-coated holds. Thisprovision aids thorough removal of a discharged cargos traces before loading another. Unfortunately, epoxy cannot endurea great deal of physical abuse. So PROBOs cannot carry ore, coal, and other hard bulk cargoes.OCTANEA measure of a motor gasolines or blendstocks resistance to preignition (knocking). The industry commonly uses twodifferent indexes of this quality RON (research octane number), and MON (motor octane number). The USA employs anaverage of the two: (R+M)/2.OLEFINA straight or branched-chain hydrocarbon with at least one unsaturated carbon-carbon bond. The petrochemical industryshighest volume product, ethylene, belongs to this family of molecules. Cracking processes produce such molecules inconsiderable quantity. The "O" in PONA stands for olefins.OPEN SPECA description of the substance sold in certain petroleum products transactions. Buyer and seller agree to price, deliveryrange and other particulars, but only to general specifications for the material. The seller covers the deal with anyavailability falling within the limits accepted by the trade. THE ROBERT MCANGUS GROUP – MARBELLA SPAIN Page 20 ©
  21. 21. OPERATIONAL TOLERANCEFlexibility in the quantity of a stem, usually expressed as a small percentage of the sterns nominal size. This provisionmakes it easier to find suitable ships to lift crude and products.OSPOfficial selling price. See posted price.OUTTURNAs measured at vessel discharge. The industry uses this term as a description of the oil unloaded at a buyers terminal. Itindicates that measurements taken at the delivery of a parcel will determine the quality or quantity, or both, of a parcelchanging hands. Common phrases incorporating this term include "outturn barrels", "outturn quantity", "outturn quality",and "outturn Q and Q".OVERHEAD STREAMThe fraction which leaves through the top of a distillation column as a gas.OXIDATION STABILITYResistance to change when exposed to air. Motor gasoline should have this property. Otherwise it will form gum whenstored.OXYGENATEOxygen-containing molecules such as alcohols or ethers used either for volume or octane, or both, in motor gasolineblending. Common examples of such compounds include ethanol, tertiary-butyl alcohol (TBA), and methyl-tertiary-butylether (MTBE). PANAMAX TANKERS Oil carriers which meet the 32.2 meter beam and 259 meter LOA limitations of the Panama Canal. Modern ship design translates those dimensions into a vessel with a maximum deadweight tonnage around 70,000. PAPER BARRELS Also known as dry barrels or electric barrels, these units trade in the futures or other non-physical markets. These terms designate the opposite of the wet barrels traded in physical deals. Since short sales in the wet market involve product the seller does not own at the time of making the deal, dry barrel terminology may apply.PARAFFINICA high concentrate of paraffins, usually in distinction from naphthenic or olefinic mixtures.PARAFFINSStraight- or branched-chain hydrocarbons containing no unsaturated carbon-carbon bonds. A high paraffins content gives anaphtha a low octane rating, a diesel oil a high octane number, and a vacuum gasoil or straight run fuel oil a goodsusceptibility to catalytic cracking. The trade often uses the term waxy to signify a high paraffins content in a heavydistillate or resid. The "P" in PONA stands for paraffins.PARCEL TANKERA ship fitted to segregate a large number of products. Some of these vessels, called chemical carriers, can handle morethan a dozen materials simultaneously. Most of these ships have tanks made of stainless steel or lined with inert, easilycleaned coatings. This equipment permits carriage of high-purity or corrosive materials, or simply the use of tanks for asuccession of assorted materials without contamination problems. The trade likes to call these flexible vessels "drugstoreships". THE ROBERT MCANGUS GROUP – MARBELLA SPAIN Page 21 ©
  22. 22. PARAFFINIC NAPHTHAA naphtha composed primarily of paraffinic molecules. In general, the feedstock trade considers 65 percent paraffinscontent the minimum for a paraffinic naphtha. Paraffins have a low octane rating. They crack readily, however. Thiscombination of properties gears paraffinic naphtha’s for ethylene feedstock more than for high-octane motor gasolineblending.PERIOD BUSINESSDeals which involve transfer of merchandise or delivery of service (transportation, for instance) from seller to buyer over astretch of time. See term deal and time charter.PGOThis acronym designates two different intermediates. See process gasoil and pyrolysis gasoil.PIPESTILLA traditional industry name for crude distillation units. The term generally applies to atmospheric stills. "Vacuum pipestill,"used infrequently, refers to vacuum distillation units.POISEThe unit of absolute viscosity. The trade often uses centipoises. One poise equals 100 centipoises.POLYMERA strand of monomers. By definition, ittakes five or more of these combiningunits to make a polymer. Shorter chainshave individual names (dimer, trimer,and tetramer). Most familiar syntheticpolymers, plastics like polystyrene,polypropylene, and polyvinyl chloride forinstance, contain a huge number ofmonomers--practically too many tocount.PONAA breakdown of the kind of moleculeswhich compose a hydrocarbon mixture.The trade uses PONA most frequently todescribe naphtha’s. See paraffins,olefins, naphthenes, and aromatics. Allhydrocarbons fall into one of these fourcategories. The feedstock trade characterizes naphtha’s by what percentage of each kind of molecule they contain. A PONAtest determines the composition of a particular cargo or stream.POSTED PRICEThe published or list price of crude and petroleum products, sometimes shortened to "posting." Many companies use thisterm as a name for the price applied to their contract business. In some cases, it means the commoditys base price--thestarting figure subject to adjustments such as competitive allowances, volume discounts, equity compensation, and soforth. Most of the time sellers post prices. But in some cases, such as the US domestic crude market, buyers post whatthey will pay.POUR POINTThe temperature where a hydrocarbon mixture becomes too thick to flow. The industry uses this property to assure thatgasoil will fuel furnaces and diesel engines properly during cold weather. In particularly harsh climates, pour point indicateshow warm to keep distillate by artificial means. The trade also quotes pour points for residue and crude. In these cases,the specification indicated whether the oil needs heating for proper handling and storage.PPBParts per billion. A thousand times less than a ppm. An expression for tiny concentrations of one ingredient (usually acontaminant) in a mixture. One milligram per kilogram equals one weight ppm.LIGHTERING THE ROBERT MCANGUS GROUP – MARBELLA SPAIN Page 22 ©
  23. 23. PPMParts per million. A convenient expression for very small concentrations of one ingredient (usually a contaminant) in amixture. One milligram per kilogram equals one weight ppm. So does 1 gram in a metric ton. The industry does notregularly use volume ppm, but could if it had a reason.PRECURSORA stream or molecule transformed into a specific product by a reaction or other processing. Refiners, for instance, regardnaphthenes as aromatics precursors because they readily become aromatics in reformers.PRESSURING AGENTButanes used to control the vapor pressure of finished gasoline. Usually butanes price, relative to other components andfinished gasolines. gives refiners incentive to put as much butane as possible in their blends. During the winter months,when RVP specifications rise, motor gasoline can contain more butane.PROBOProduct-Bulk-Oil carriers. See OBO.PROCESS GASOILA synonym for vacuum gasoil.Processing arrangement:See TOLL PROCESSING Also called processing deals.PRODUCERSCompanies, often state organizations, which own oil wells and the crude which flows from them. This category includes alarge number of private enterprises. Integrated oil companies and specialists called independent producers develop muchof the worlds crude supply. But, as a matter of custom, the industry tends to think not of them but of oil exporting nationswhen speaking of producers. Other names, such as equity holders, leaseholders, or even equity producers, distinguishthese private, commercial organizations. They need a separate category because they must buy the oil they develop,through lease fees, royalties, cash, production sharing, or other arrangements, from whoever has sovereign right to it.PROPYLENEThree-carbon olefin produced in refineries by catalytic crackers and in petrochemical plants by steam crackers. Refinersprocess part of their supply into motor gasoline blendstock, particularly alkylate. Some refinery material and that fromsteam crackers becomes plastic, glue, and other synthetic products.PSIPounds per square inch (lbs/in2). A common unitof pressure particularly vapor pressure. Somefolks express pressure specifications in kPa orbars.1.0 lb/in2 = 0.068947 bar = 6.8947 kPaPYGASAn abbreviation of pyrolysis gasoline.PYROLYSISApplication of heat to change molecularstructure. The oil industry ordinarily reserves thisterm for processes which break hydrocarbonswithout the assistance of a catalyst, such assteam cracking and cooking.PYROLYSIS GASOILThe distillate fuel oil produced by a heavy liquidssteam cracker. This material usually finds use asa distillate blendstock. THE ROBERT MCANGUS GROUP – MARBELLA SPAIN Page 23 ©
  24. 24. PYROLYSIS GASOLINEThe aromatics-rich naphtha-range stream produced in sizeable quantities by an ethylene plant when it cracks butane,naphtha, or gasoil. Pygas resembles reformate. It can serve as a high-octane blendstock for motor gasoline or as afeedstock for an aromatics extraction unit.R+M/2A misleading, but popular, expression of (R+M)/2. See antiknock index.RACK BLENDINGThe practice of adding one or more components to a gasoline blend at an inland distribution terminal. Frequently, due tologistics, this type of blending occurs at the end of the distribution line. For instance, a supplier will add ethanol to finishedgasoline while loading delivery trucks for shipment to retail outlets. This method of blending prevents ethanol, which hasan affinity for water, from separating from the gasoline blend (phase separation) during transportation through a pipelinesystem.RACK PRICEThe truckload price charged by a supplier to customers which buymotor gasoline on an FOB terminal basis.RAFFINATEwhat remains of a reformate or pyrolysis gasoline stream afteraromatics extraction. These paraffinic, naphtha-range mixturesusually have too low an octane rating for use in motor gasoline, butgood properties for steam cracking. Butylene streams produced byethylene plants also go by the name raffinate, or raff.RAMSBOTTOM CARBONA measurement of hydrocarbon mixtures tendency to leave carbondeposits (coke) when burned as fuel or subjected to intense heat in aprocessing unit such as a catalytic cracker. See CONRADSONCARBON.RATABLYOn a ratable basis. The industry uses this expression for paceddelivery of product. Crude, for instance, can move from buyer toseller at some speed like a thousand barrels per day. The ideaapplies most naturally to pipeline-carried commodities.REALIZATIONEvaluation based on theoretical (often negotiated) estimates of howmuch money a refiner or petrochemicals producer can make byprocessing a feedstock. Many netback deals price oil according to aformula which considers the quantity and spot value of productsmade from it and the cost of processing. These transactions have arealization basis.REDUCED CRUDEAtmospheric fuel oil. See ATMOSPHERIC RESIDUE.REDWOOD VISCOSITYA method of measuring and reporting viscosity which lost popularity in recent years. Tables available from various sourcesconvert Redwood figures to the more widely used Kinematic and Saybolt scales.REFINERY INTERMEDIATESee INTERMEDIATE.REFORMATEThe product of a catalytic reformer. An aromatics-rich high-octane motor or aviation gasoline blendstock. Many refineriesroute a part of the reformate they produce through aromatics extraction units to recover the benzene, toluene, andxylenes it contains. THE ROBERT MCANGUS GROUP – MARBELLA SPAIN Page 24 ©
  25. 25. REFORMERA catalytic processing unit which produces a highly aromatic stream (reformate) used primarily as high-octane blendstock.REFORMING NAPHTHASee NAPHTHENIC NAPHTHA.RELETA ship offered for hire by its time-charterer. Large international oil companies, because they take far more tankers on aperiod basis than anyone else, engage in reletting most frequently.RESIDAbbreviation of residue.RESIDUEThe bottoms taken from distillation units. Both atmospheric and vacuum stills yield a residue. The industry sometimes uses"bottoms" to designate this unboiled material. Atmospheric residue can undergo further distillation in a vacuum unit.Heavy fuel oil blending absorbs much of the vacuum residue produced; although some serves as feedstock for coking,asphalt manufacture, and other upgrading processes.RON (Research Octane Number)A rating of the anti-knock properties of a finished motor gasoline or blendstock. The test to determine RON stimulates mildengine operating conditions such as motoring at moderate speeds. The RON method yields higher numbers than the MON(motor octane number) test which reflects heavy loads and high speeds.RVPReid vapor pressure. A measure of the volatility of hydrocarbons. The Reid test can measure volatility at any practicaltemperature. A testing temperature must accompany any RVP report to make it most informative. Ordinarily, thefeedstock and petroleum products trade uses RVP numbers measured at 100F.S.GAn abbreviation of specific gravity.SATURATESHydrocarbons with no multiple bonds. Paraffins and naphthenes.SCREENOil trading jargon for the electronic network quotes of futures market prices. Other nicknames include "the TV" and "theprint." The industry discusses physical market activity and does business at levels which sound like "screen plus 25" and"85 points under the print."SECONDARY PROCESSINGCracking, alkylation, and other molecule alteration. Refining beyond the capabilities of a topping plant or hydroskimmer. SEGREGATED BALLAST TANKS (SBT) Chambers on a tanker used exclusively to hold ballast water. Ships so equipped need not fill cargo tanks with sea water on unladen voyages. Such vessels need not worry that they will pump oil traces overboard when they deballast. SEGREGATION Keeping two or more parcels of crude or product isolated from one another aboard a tanker. Ability to prevent contact between part-cargoes may depend upon not only separate tanks but also separate pumps and piping to handle each grade. The trade would say that a ship which cankeep apart three kinds of oil has "three segregations." THE ROBERT MCANGUS GROUP – MARBELLA SPAIN Page 25 ©
  26. 26. SEVERITYThe degree of application of pressure, temperature, duration, or other critical processing conditions. The more exposure ofa feedstock to factors which promote an intended reaction, the more severe the processing. Higher temperatures, greaterpressures, longer residence times, and so forth, constitute greater severity in various processes.SFSSee SSF.SHIPS FIGURESA quantity of cargo loaded or discharged by a tanker as tabulated using the ships calibration tables. The trade regularlycompares these numbers with shore tank figures. Observers take samples of cargo as it comes aboard. But they do notordinarily have them tested for quality unless a dispute arises. Most outturn quality reports, on the other hand, come fromsamples taken from the vessels tanks at the discharge port.SHORE TANK FIGURESQuality data on a shipment derived from storage tank samples taken prior to loading or quantity determination based onstorage depletion in the course of loading. Shore tank gauging could also give useful information on the quantity of oildischarged into a receivers terminal. The industry ordinarily tests discharge (often called outturn) quality of unloaded oilbefore it moves ashore. These data come from unloading line or ships composite samples. Suppliers and receivers oftenuse shore figures to verify or dispute ships figures. SIMPLE REFINERY A facility which has no cracking or other secondary processing hardware. "Simple yields," therefore, mean the product slate such an unsophisticated plant can make from crude. See topping yields. SMOKE POINT An indication of how cleanly kerosene burns. The test reports how high a flame can extend above a wick-fed lamp without making soot. SOUR High in sulfur content. Sour vacuum gasoil’s, for example, contain more than about 0.5 sulfur, the common limit for sweet vacuum gasoil’s. Application of this term to natural gasolines tends to focus on mercaptan sulfur concentration. Sournatural gasolines test Doctor positive.SOUR CRUDEPetroleum with high sulfur content. In this case, high commonly means more than 1.0 weight percent.SOUTHERN GRADESee Northern grade. Motor gasoline that meets Colonial pipeline specifications for product delivered to points south ofGreensboro, North CarolinaSPECIFIC GRAVITYAn expression of materials density in terms of their relationship to a reference substance. Water at 4 C serves as thereference for hydrocarbons, both liquid and solid. Water has specific gravity of 1.0, as 1 cc of its weighs 1 gram. Thespecific gravity of liquid hydrocarbons indicates the ratio of their density in cc/gram to waters. For example, motorgasoline typically has a density around 8.5 barrel per metric ton, or 0.740cc per gram. That makes its specific gravity(0.740 cc/gram mogas)/(1.0 cc/gram water) = 0.740. Full expression of specific gravity requires specification of atemperature for both the described and the reference substances. Therefore, a complete citation of a motor gasolinesamples specific gravity might read 0.740 @ 60 F/39.2 F. The formula found under API gravity can convert specific gravityto API degrees. THE ROBERT MCANGUS GROUP – MARBELLA SPAIN Page 26 ©

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