The other Of Upstream Is Downstream
An irregularity in a pipe due to wreck or a defect within the pipe. Additionally used to describe unusual provide and demand movements.
A scale indicating how heavy or light a petroleum liquid is compared to water.
Levels API gravity = (141.5 divided by specific gravity) minus 131.5. The API gravity of water is 10.0. Less dense liquid fluids have API gravities larger than 10.Zero.
Fuel occurring in combination with crude oil, as distinct from gasoline occurring individually or manufactured from crude oil.
A market state of affairs wherein market costs are anticipated to be lower in future months than right this moment. (Opposite of contango.)
A volumetric unit of measure for crude oil and petroleum merchandise, derived by the original use of spent whiskey barrels to carry oil within the 1800s. One barrel equals forty two U.S. gallons, equal to 158.978 litres. Abbreviation: bbl
A unit of measurement of pipeline shipment of product that signifies one barrel moved one mile.
Barrel Per Calendar Day (bpcd)
The quantity of oil refinery input that may be processed underneath ordinary working circumstances. The amount is expressed by way of capacity during a 24-hour interval averaged over a complete 12 months. It incorporates typical fee reductions for deliberate upkeep and other normal working actions.
Barrels Per Stream Day (bpsd)
The typical variety of oil barrels of oil refinery input processed inside a 24-hour period.
A shipment of a single product that is dealt with by the pipeline without mixing with preceding or following shipments.
A gasoline made from vegetable oils, recycled restaurant oils or animal fat. The oil or fat is usually processed right into a methyl ester. It’s low in sulfur, biodegradable and is derived from renewable products that may be blended immediately with diesel gasoline in various concentrations.
A pump station used to extend the pressure of oil obtained by means of a most important pipeline to transmit it to the next station or terminal.
Brent blend is a sweet crude oil used as a benchmark in oil pricing for oil production from Europe, Africa and the Middle East flowing West. Brent crude is sourced from the U.K. North Sea.
Low boiling point hydrocarbons used for gasoline vapor stress control.
A instrument used to scrub or scrape residue from the inside walls of a pipeline. Additionally referred to as a utility pig. (See Smart Pig.)
A refining course of for thermally changing and upgrading heavy residual into lighter products and petroleum coke.
Space protected for obligatory personnel.
Any transportation system accessible for use by the public for transporting cargo; almost all interstate pipelines are frequent carriers.
A term used to explain light liquid hydrocarbons separated from crude oil after manufacturing and sold individually.
A market situation by which market costs are expected to be increased in future months than at this time. (The other of backwardation.)
The dollar-per-barrel value of a product or group of products versus the crude cost. Project Performance Crack spreads are used as a proxy to estimate the gross margin for processing a barrel of crude oil in a refinery.
A refining course of beneath which heavy molecular weight hydrocarbons are broken up into mild hydrocarbon molecules by the appliance of heat and strain, with or without the use of catalysts.
A mineral oil consisting of a mixture of hydrocarbons of natural origin, yellow to black in shade, of variable particular gravity and viscosity. The basic uncooked mineral pumped from the earth. There are many alternative grades of crude, each containing various vapors, liquids and solids. This crude is processed at a refinery into many petroleum merchandise, including gasoline, diesel, asphalt and jet fuel.
A generic time period referring to a retail service station or convenience store operator often affiliated with a brand identity or program. A dealer usually leases the facility from a refiner or jobber.
A phase of the oil business. Time period is used to refer to all petroleum actions from the processing of refining crude oil into petroleum products to the distribution, advertising and marketing and delivery of the merchandise. The alternative of downstream is upstream.
Pure gasoline from the well that’s freed from liquid hydrocarbons; gas that has been handled to remove all liquids making it suitable for delivery in a pipeline.
A contractual agreement with one other product supplier whereby we ship a product at a given point in a given quantity for a given period of time and we receive a like product at a given point in a reciprocal amount for a similar period of time. At instances, the change is just not valued equally and one social gathering owes the other money as properly.
Inputs to refining or gasoline mixing, other than crude oil, includes butanes, gasoline oil and natural gasoline.
Any naturally occurring gas of an natural nature formed by the decomposition of plants or animals; consists of coal, natural gas and petroleum.
Oil that’s heavy-distilled within the refining process. Regularly used for supplying vitality to energy stations and factories.
A medium-distilled oil from the refining course of. Usually utilized in diesel gas. Heavier than distillate and lighter than heavy gasoline oil or asphalt. Cracked into gasoline and distillate-range products.
A small diameter pipeline utilized in gathering crude oil from the oil area to a common point for additional movement to a trunk line.
Can seek advice from either Specific Gravity or API Gravity.
High Stress Pipelines
Pipe techniques that function at 600 psi to 2,000 psi and better.
Space the place hazardous vapors and liquids are current.
A category of compounds containing hydrogen and carbon formed by the decomposition of plant and animal stays. These compounds include coal, oil, natural gas and other substances occurring in rocks.
The aim of this unit is to cut back the sulfur and nitrogen contents of the feedstock and improve the combustion characteristics of the transportation fuels. In addition to sulfur and nitrogen removing, hydrotreating reduces the quantity of aromatic hydrocarbons that may give jet kerosene a poor smoke point and diesel gas a poor cetane number.
A time period referring to giant retail shops and/or supermarkets which have a gasoline offering in their parking tons, maybe as a loss chief. Also referred to as “big box” retailers.
Integrity Management Plan Rule. Nickname for a rule printed by the United States Workplace of Pipeline Security entitled “Pipeline Integrity Management in Excessive Consequence Areas.” The rule requires that the integrity of pipeline programs be managed through testing, maintenance and evaluations of releases, third-get together injury and other related knowledge.
A retail petroleum “seller” or wholesaler who just isn’t involved within the refining of petroleum products and due to this fact should buy their provide of petroleum products from a refiner or other provider.
The mixture which happens in normal pipeline operations between batches of petroleum merchandise or crude having completely different specifications. Additionally known as “slop” or “transmix.”
A enterprise one who does not perform refining operations however who provides wholesale merchandise to gasoline stations or shops. A jobber generally owns the stations which they provide.
Clients who enter into a Product Supply Settlement with Marathon Petroleum wherein Marathon agrees to produce, and the client agrees to purchase Marathon Branded motor fuels at Marathon terminals to be used in stations where Marathon has given permission to use its identify and trademarks. The service stations could also be owned/operated straight by the jobber, leased by the jobber to another operator, or owned/operated by some third occasion. These areas are called “jobber-dealers.” The jobber usually arranges his own scheduling and transportation of product.
Lessee Vendor (Model)
Individuals who lease one in all Marathon Petroleum’s firm-owned service stations in Ohio, Michigan, Indiana or Illinois. Each lessee vendor is an unbiased businessman, making selections regarding the day-to-day operations of the station, including street pricing.
The group of petroleum merchandise with lower boiling temperatures, including gasoline and distillate fuels.
A steady run of pipe between places.
Liquefied Pure Fuel (LNG)
Natural gas liquefied both by refrigeration or by stress.
Liquefied Petroleum Gasoline (LPG)
A mixture of butane, propane and other gentle hydrocarbons derived from refining crude oil. At normal temperature it’s a gasoline but can be cooled or subjected to strain to facilitate storage and transportation.
An association of piping valves to supply interconnecting hyperlinks between a lot of pumps, tanks and lines at a pump station.
Methyl Tertiary Butyl Ether. An octane booster and oxygenate used for gasoline blending.
Petroleum in gaseous form consisting of mild hydrocarbons often present in association with oil. Methane is essentially the most dominant part.
Gasoline boiling range materials co-produced with natural fuel. Used for refinery feedstock and gasoline mixing.
Net Present Value (NPV)
A classy capital budgeting method; found by subtracting a mission’s initial investment from the present worth of the cash inflows discounted at a rate equal to the firm’s value of capital.
A rating that is the average of the motor octane and research octane of a gas pattern. It is used to point gasoline’s anti-knock performance in motorcar engines. The upper the octane number, the upper the resistance to petroleum products on natural hair dryer engine knock.
Time period used to explain a company appointed by venture stakeholders to take primary accountability for day-to-day operations for a specific plant or exercise.
Oxygen-containing blend stocks favored for their octane and their clear burning quality. Consists of MTBE and ethanol.
Petroleum Allocation for Defense District. A bunch of five geographic areas within the United States used in reference to petroleum distribution. Created in 1950 by the Petroleum Administration for Defense, these districts had been originally defined during World Battle II for purposes of administering oil allocation.
Chemicals similar to ethylene, propylene and benzene which might be derived from petroleum.
A time period applied to crude oil and oil merchandise in all varieties.
All elements of the bodily amenities via which commodities move, including line pipe, valves, pumping items, metering stations and tankage.
Refining course of that makes use of low-temperature reforming to extend the octane worth of gasoline.
Refined substances made from crude oil: gasoline, gas oil, butane and a bunch of various other petroleum merchandise.
A facility used primarily for the storage and/or advertising and marketing of petroleum merchandise that will generally have a complete bulk storage capability of 50,000 barrels or extra. It sometimes receives petroleum merchandise by tanker, barge or pipeline and serves as a loading facility for trucks to transport merchandise to stores, stations and smaller bulk distribution plants.
Also known as an allocation. A temporary restrict on the quantity of product clients can purchase at the terminal, usually based mostly on contracts and used to protect inventories in time of shortage. May also refer to a limit on the quantity of product that may be shipped on a pipeline during a particular period of time by a supplier.
Pounds per square inch. Common measure of strain.
The self-serve worth, together with taxes, posted for both gasoline or diesel gasoline at a station or store.
Refers to the loading area or point of sale from which trucks choose up products at a terminal to transport to other destinations.
Worth to branded and unbranded customers for purchases of petroleum products at the terminal, sometimes with the client arranging for and paying for transportation.
Acronym for reformulated blendstocks for oxygen blending. RBOB combined with MTBE at some refineries makes what we call RFM (reformulated gasoline with MTBE). RBOB combined with ethanol at some terminals makes what we call RFE (reformulated gasoline with ethanol).
Typically, the distinction between the spot value of a light product, reminiscent of gasoline, and the value of crude oil.
The means of converting crude oil into usable fuel merchandise.
The distinction in value between the merchandise produced by a refinery and the worth of the crude oil used to supply them. Refining margins will fluctuate from refinery to refinery and rely on the price and traits of the crude used.
Refinery process geared toward enhancing gasoline high quality by altering chemical traits moderately than breaking up molecules, as in cracking.
Reid Vapor Strain (RVP)
This is the vapor pressure of gasoline beneath a closed vessel at one hundred degrees Fahrenheit. petroleum products on natural hair dryer Summer months require a decrease RVP so that gasoline doesn’t evaporate before it could combust in a gasoline engine. Winter months require a higher RVP so that gasoline doesn’t vapor lock earlier than it may well combust in a gasoline engine.
The simultaneous buy and sale of merchandise or crude oil to enhance profitability by capturing timing, location and/or grade differentials.
The distinction between the cost to acquire product at wholesale and the selling worth of the product at street areas (store or station), unique of taxes.
Return On Capital Employed (ROCE)
ROCE is a measure of how productively a company manages its capital. It is the ratio of profit earlier than interest and tax divided by the distinction between whole belongings and current liabilities.
A strip of land, normally from 50- to 80-ft broad, on which permission has been granted by landowners for the development and/or upkeep of a pipeline.
See Return On Capital Employed.
See Reid Vapor Stress.
Own their single-site location, however use Marathon’s capital funding dollars and the business consulting providers of its advertising and marketing representatives. Like the Lessee Dealer, every Vendor is an unbiased businessman, making their very own day-to-day operating decisions. They function in Ohio, Michigan, Indiana or Illinois.
An inner inspection device used in the pipeline business to detect anomalies or irregularities on the inner partitions of a pipeline.
Specified minimal yield strength. Identifies the mill property of a pipe showing its power.
Designation that describes the degree of a given crude’s sulfur content. Sour refers to excessive sulfur and sweet to low sulfur.
The ratio of a liquid’s density in comparison with water. A liquid with a specific gravity lower than one is much less dense than water.
The value for a one-time open market transaction for instant delivery of a selected quantity of product at a selected location the place the commodity is purchased “on the spot” at present market rates.
A bunch of tanks related to a pipeline through which oil is moved.
A volumetric fee measuring the flow of crude or products through a system over time. It describes the total amount of uncooked supplies processed by a refinery or different plant at given period.
A major pipeline.
Period throughout which equipment is shut down for mechanical inspection and/or mechanical upkeep.
The section of the oil business concerned in the exploration and/or production of crude oil. The processes of exploring for oil, creating oil fields and producing oil from the fields. The opposite of upstream is downstream.
Volatile Natural Compounds (VOC)
VOC is most-commonly used when describing the summer season gasoline season. That is the time of year when the United States Clear Air Act of 1990 requires diminished VOC emissions in gasoline in order to maintain air quality.
Vapor recovery unit. A VRU captures vapors from empty transport trucks that are pushed out the truck tank through the loading course of. Some models really recuperate the vapors, convert them to liquid state via numerous means and return the product to a tank throughout the terminal tank farm. Different units known as vapor combustors burn the vapors in a flare.
West Texas Intermediate (WTI)
Refers to West Texas Intermediate crude oil. WTI is a sort of sweet crude oil used as a benchmark in oil pricing and the underlying commodity of recent York Mercantile Change’s oil futures. The WTI spot worth of crude is reported from Cushing, Oklahoma.