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|Paraffinic A high paraffins content
naphtha Usually favored quality of naphtha for ethylene plant feedstock.
Petrochemicals Chemicals derived from petroleum; feedstocks for the manufacture of plastics and synthetic rubber. Petrochemicals include benzene, toluene, xylene, styrene, and methanol.
PG Persian Gulf (Same as Arab Gulf--AG)
Polymers Made from monomers. The most common include widely traded plastics like polyethylene, polypropylene and polystyrene.
PONA Paraffins, olefins, naphthenes and aromatics content.
Posted Price A statement of the price requested by a seller of crude oil or products. The "list price."
Pour Point Lowest temperature which oil will readily flow without disturbance when chilled.
Pygas Pyrolysis gasoline. A naphtha-range product with a high aromatics content used either for gasoline blending or as a feedstock for a BTX extraction unit. Pygas is produced in an ethylene plant that processes butane, naphtha or gasoil.
Rack Pricing Selling to petroleum jobbers or other resellers FOB at the refinery, with the customer picking up transportation charges. The price of petroleum products at the refinery loading rack; cash and carry at the refinery's loading dock.
Reformate A high-aromatics, high-octane product made in a reformer and used to blend motor gasoline or aviation gasoline.
Reg Regular gasoline. Usually contains lead.
Reg Unl Regular unleaded gasoline.
Resids Residual fuel oils
R+M/2 Research Octane Number plus Motor Octane Number divided by 2. A gasoline octane designation commonly used in the US
RON Research octane number
RSFO Regular sulfur fuel oil
RVP Reid vapor pressure, a measure of a gasoline's volatility.
Simex Singapore Monetary Exchange
Crude Definitions which describes the degree of a given crude's sulfur content. Sour refers to high sulfur and sweet to low-sulfur.
SPR Strategic Petroleum Reserve in the US
Steam cracker (Ethylene plant) A petrochemical plant that produces olefins, particularly ethylene, and, in some cases, aromatics.
Straight-Run Material which has come straight from an atmospheric distillation unit and has not been cracked or reformed, and which is usually used as a feedstock or as a utility fuel.
ULCC Ultra large crude carrier; has capacity for 320,000 to 600,000 dwt.
Vanadium Metal present in certain types of fuel
VGO Vacuum Gas oil, also known as cat feed. Feedstock for fluid catalytic cracker used to make gasoline, No.2 oil and other byproducts.
VIS or VISC Viscosity. A measure of a liquid's resistance to flow. Several viscosity scales are used depending on the type of oil being measured.
VLCC Very large crude carrier; has capacity for 200,000 to 320,000 dwt.
WTI West Texas Intermediate. The WTI spot price of crude is reported from Cushing, Oklahoma.
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