GLOSSARY - ABBREVIATIONS
A compressed air foam system (CAFS) is a system used in firefighting to deliver fire retardant foam for the purpose of extinguishing a fire or protecting unburned areas from becoming involved in flame. It is defined as a standard water pumping system that has an entry point where compressed air can be added to a foam solution to generate foam. The air compressor also provides energy, which, gallon for gallon, propels compressed air foam farther than aspirated or standard water nozzles. Typical components include a centrifugal pump, a water source, foam concentrate tanks, a rotary air compressor, a direct-injection foam proportioning system on the discharge side of the pump, a mixing chamber or device, and control systems to ensure the correct mixes of concentrate, water, and air.
A covering that serves as a roof to shelter an area from the weather
Computer Assisted Platform Operations
It is a naturally abundant non-metallic element which forms the basis of most living organisms. It is the chemical element with symbol C and atomic number 6. Carbon is most commonly obtained from coal deposits, although it usually must be processed into a form suitable for commercial use.
Carbon Capture and Storage (CCS)
The collection and transport of concentrated carbon dioxide gas from large emission sources, such as power plants. The gases are then injected into deep underground reservoirs. Carbon capture is sometimes referred to as geological sequestration.
It is a chemical compound composed of one carbon and two oxygen atoms and is in a gaseous state in the atmosphere of the Earth. Carbon dioxide in the Earth's atmosphere is currently at a concentration of approximately 385 ppm by volume. It is often referred to by its formula CO2. Carbon dioxide is exhaled by animals and inhaled by plants. It is also created by the combustion of fossil fuels or vegetable matter and other chemical processes.
Carbon dioxide equivalents (CO2e)
The quantity that describes, for a given mixture and amount of greenhouse gas, the amount of CO2 that would have the same global warming potential (GWP) when measured over a specified timescale (generally 100years).
Carbon Monoxide (CO)
A colourless, odourless, and toxic gas consisting of molecules of one oxygen atom and one carbon atom; results from inefficient combustion or chemical reactions occurring in the atmosphere.
An emission trading scheme whereby businesses or countries can buy or sell allowances to emit greenhouse gases via an exchange. The volume of allowances issued adds up to the limit, or cap, imposed by the authorities.
Called an "A T A Carnet". An international customs document which incorporates guarantees to be used in lieu of Customs documents to enter goods into certain countries temporarily without paying import duty or posting bonds.
% of cars passing in front a PS and stop to refuel.
Chief Compliance Officer, a newcomer, is responsible for ensuring that a company and its employees are in compliance with government regulations and internal policies.
Continuous Catalytic Reforming. Secondary treatment that increases the octane number of gasoline. A chemical process used to convert petroleum refinery naphthas, typically having low octane ratings, into high-octane liquid products called reformates which are components of high-octane gasoline (also known as petrol). Basically, the process re-arranges or re-structures the hydrocarbon molecules in the naphtha feedstocks as well as breaking some of the molecules into smaller molecules.
The Clean Development Mechanism (CDM), defined in Article 12 of the Protocol, allows a country with an emission-reduction or emission-limitation commitment under the Kyoto Protocol (Annex B Party) to implement an emission-reduction project in developing countries. Such projects can earn saleable certified emission reduction (CER) credits, each equivalent to one tonne of CO2, which can be counted towards meeting Kyoto targets. The mechanism is seen by many as a trailblazer. It is the first global, environmental investment and credit scheme of its kind, providing a standardized emission offset instrument, CERs.
Central Area Transmission System
The Central Area Transmission System (also known as CATS pipeline) is a natural gas transportation system from the Central North Sea to Teesside in England. The pipeline runs from CATS Riser Platform adjacent to the BG Group operated Everest gasfield in the Central North Sea, some 230 kilometres (140 mi) east of Aberdeen, to Teesside in England. The pipeline reaches the shore at Coatham Sands near Redcar where it meets a Beach Valve Station. The gas travels under the River Tees in a 5-mile (8.0 km) long pipeline to the gas terminal.
The CATS pipeline was originally conceived to carry natural gas from the Everest and Lomond fields and was built oversized to accommodate future production from fields in the surrounding area. The CATS pipeline now transports gas from other fields such as Fleming, Judy, Jade, Maria et al. through six connection points, known as 'tees' (T1 to T6), and seven CATS hubs.
Chief Executive Officer. Often but not always also the President of a company. The CEO reports to the Chairman of the Board and board members. The CEO is usually the most important spokesperson for the company, the person who is responsible for quarterly results, and the best paid member of the company.
Cash Earnings Per Share = EPS plus depreciation, amortization and non-cash movements in provisions.
Certified Emissions Reductions (CERs)
Certified Emission Reductions (CERs) are a type of emissions unit (or carbon credits) issued by the Clean Development Mechanism (CDM) Executive Board for emission reductions achieved by CDM projects and verified by a DOE under the rules of the Kyoto Protocol.CERs can be purchased from the primary market (purchased from original party that makes the reduction) or secondary market (resold from a marketplace).
A hydrocarbon used as an additive in diesel fuel.
Chief Financial Officer. Sometimes also the company Treasurer and, in many companies, is seen as the second most important person in the company (since managing the quarterly results often depends on an understanding of how to keep the books).
Cost and Freight. The seller delivers when the goods pass the ship’s rail in the port of shipment.
Chemical Oxygen Demand (COD)
It is commonly used to indirectly measure the amount of organic compounds in water. Most applications of COD determine the amount of organic pollutants found in surface water (e.g. lakes and rivers) or wastewater, making COD a useful measure of water quality.
Cetane Index. The cetane number is also an ASTM test, used to measure the ignition qualities of diesel fuels. The higher the number the better the quality. The cetane index is a calculated value using the ASTM mid boiling point and API gravity, and correlates well with cetane number. The cetane index is used if the volume of sample is too small or a test engine is not available. A diesel fuel with a high cetane index has a low spontaneous ignition point, that is, combusts at lower temperature from the heat of compression of the diesel engine. A high cetane index of FCCU light cycle oil (LCO) is desirable since the higher the index, the more LCO can be blended into the more valuable road diesel fuel.
Commercial and Industrial (sales).
Corporate Identity. It is the “persona” of a corporation, which is designed to accord with and facilitates the attainment of business objectives and is usually visibly manifested by way of branding and the use of trademarks. The characteristic looks, colors, materials, designs, uniforms, layouts, brands, logos, sounds, products, services, advertisements etc that identify a PS as part of a specific company’s network.
Cost, Insurance and Freight. Goods delivered at buyer’s receiving point with all indicated costs covered. The seller delivers when the goods pass the ship’s rail in the port of shipment. The seller also has to procure marine insurance against the buyer’s risk of loss or damage to the goods during the carriage.
(Chief Information Officer), a relative newcomer to the ranks of the top executives in a corporation, is responsible for a company's internal information systems, and, especially with the arrival of the Internet, sometimes in charge of the company's e-business infrastructure.
Carriage and Insurance Paid to ... The seller delivers the goods to the carrier nominated by him, but the seller must in addition pay the cost of carriage necessary to bring goods to the named destination. The seller also has to procure insurance against the buyer’s risk of loss of or damage to the goods during the carriage.
Same as "about" and "approx."; terms which when used in a letter of credit are construed to allow a difference not to exceed 10% more or 10% less than the monetary amount, or the quantity, or the unit price.
The prevailing or average weather conditions of a geographic region.
A pattern of change affecting global or regional climate, as measured by yardsticks such as average temperature and rainfall, or an alteration in frequency of extreme weather conditions. This variation may be caused by both natural processes and human activity. Global warming is one aspect of climate change.
Compressed natural gas. A type of compressed gas used as fuel for stoves and heaters. CNG is stored in metal cylinders prior to use. CNG is considered safer than other types of fuel such as propane (LPG) because it is lighter than air and may rise into the sky in the event of a leak. Caution should still be used as CNG can collect near the cabin ceiling, potentially causing an explosion. Propane is available in more areas around the world than CNG so CNG is not often used outside of North America.
Company Owned and Company Operated PS. The asset may be really owned or long-term leased. The stock is owned by the company.
Company Owned and Dealer Operated PS. The asset may be really owned or long-term leased. The stock is owned by the dealer.
Cost Of Goods Sold. The direct expenses incurred in producing a particular good for sale, including the actual cost of materials that comprise the good and direct labor expense in putting the good in saleable condition.
Company Owned and Manager Operated PS. The asset may be really owned or long-term leased. The stock is owned by the company.
Is the largest and use the most technologically advanced refining equipment and machinery. With the ability to 'crack' the heavier oil it can ultimately produce more valuable, lighter petroleum products such as gasoline for cars. Almost 100% of the oil that came in is refinable by a complex refinery.
A condition in which distant delivery prices for futures exceed spot prices, often due to the costs of storing and insuring the underlying commodity. Opposite of backwardation.
Conversion (or cracking)
The molecules in hydrocarbons go through a conversion process (get 'cracked') enabling the refinery to produce a higher quantity of the lighter, more valuable petroleum products such as gasoline.
Heat removal devices used to transfer process waste heat to the atmosphere.
The basic level of inflation over a period of time as opposed to temporary fluctuations.
Core Net Debt/(Cash)
Average value of net cash/debt outstanding during the year. The default is the average of opening and closing net debt in the balance sheet but this may be adjusted by the analyst.
Carriage Paid To… The seller delivers the goods to the carrier nominated by him but the seller must in addition pay the cost of carriage necessary to bring the goods to the named destination.
Cracked fuel oil
Fuel oil remaining after the secondary treatment (cracking) of SRAR.
It represents a major increase in the complexity of the refinery over simple topping or hydroskimming units. In addition to the primary (atmospheric) distillation and reforming units, a typical cracking refinery includes vacuum distillation, catalytic cracking, alkylation and gas recovery facilities to convert heavy fuels to lighter products.
Customer Relationship Management. It is a broad term that covers concepts used by organizations to manage their relationships with customers, including collecting, storing and analyzing customer information.
Chief Security Officer, a recent arrival, is responsible for the security of a company's communications and business systems.
(Chief Technology Officer), another relatively new arrival to the top executive ranks in many companies, is likely to be seen as the second or third most important person in any technology company. The CTO is responsible for research and development and possibly for new product plans.
Cubic meter or m3
Unit expressing volume, equal to 1.000 liters. 1 m3 = 1 MT / density. In absolute terms, the volume of a fuel is “higher” than its mass since its density is usually less than unity.