naphthaUsually favored quality of naphtha for ethylene plant feedstock.
PetrochemicalsChemicals derived from petroleum; feedstocks for the manufacture of plastics and synthetic rubber. Petrochemicals include benzene, toluene, xylene, styrene, and methanol.
PGPersian Gulf (Same as ArabGulf--AG)
PolymersMade from monomers. The most common include widely traded plastics like polyethylene, polypropylene and polystyrene.
PONAParaffins, olefins, naphthenes and aromatics content.
Posted PriceA statement of the price requested by a seller of crude oil or products. The "list price."
Pour PointLowest temperature which oil will readily flow without disturbance when chilled.
PygasPyrolysis 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 PricingSelling 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.
ReformateA high-aromatics, high-octane product made in a reformer and used to blend motor gasoline or aviation gasoline.
RegRegular gasoline. Usually contains lead.
Reg UnlRegular unleaded gasoline.
ResidsResidual fuel oils
R+M/2Research Octane Number plus Motor Octane Number divided by 2. A gasoline octane designation commonly used in the US
RONResearch octane number
RSFORegular sulfur fuel oil
RVPReid vapor pressure, a measure of a gasoline's volatility.
SimexSingapore Monetary Exchange
CrudeDefinitions which describes the degree of a given crude's sulfur content. Sour refers to high sulfur and sweet to low-sulfur.
SPRStrategic Petroleum Reserve in the US
Steam cracker(Ethylene plant) A petrochemical plant that produces olefins, particularly ethylene, and, in some cases, aromatics.
Straight-RunMaterial 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.
ULCCUltra large crude carrier; has capacity for 320,000 to 600,000 dwt.
USWCUS West Coast
VanadiumMetal present in certain types of fuel
VGOVacuum Gas oil, also known as cat feed. Feedstock for fluid catalytic cracker used to make gasoline, No.2 oil and other byproducts.
VIS or VISCViscosity. A measure of a liquid's resistance to flow. Several viscosity scales are used depending on the type of oil being measured.
VLCCVery large crude carrier; has capacity for 200,000 to 320,000 dwt.
WTIWest Texas Intermediate. The WTI spot price of crude is reported from Cushing, Oklahoma.
WTSWest Texas Sour
WYO SWTWyoming Sweet
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