Dobie langenkamp offers a fresh set of terms and phrases introduced to the industry over the past 20 years. Thank you for visiting our website you are exiting the department of labors web server. Cartage a trucking term that refers to shipping freight within the same city or area. When new shale gas fields in the us are constrained by the capacity of the existing oil and gas pipeline network, it results in bottlenecks and low prices at the production site. Samigullina and others published linguistic and normative aspects of oil and gas business terminology find. Glossary of terms used in the petroleum industry by bcafc oil and gas industry glossary of selected terms by dwa energy limited. Our cptg certified pure therapeutic grade essential oil products offer natural solutions for you and your loved ones. Glossary of oilfield production terminology got definitions. There are many terms that are synonymous with the oil and gas industry.
Because offshore drilling activity may take place in unforgiving locations, companies have to deploy specific vessels for specific drilling projects. The standard unit of measurement for crude oil and some petroleum products. With responsible and sustainable sourcing, our mission is to improve the lives of your whole family and families around the globe with every doterra purchase. A chronological history of ownership of a tract of land. Increasing the flow of oil from a well by pumping hydrochloric acid into the well under high. Oil and gas glossary of terms business finance solutions. In this book, we describe and analyze the global oil and gas industry with a focus on the strategic, financial, and business aspects of the industry. To discontinue attempts to produce oil or gas from a well or lease and to plug the reservoir in accordance with regulatory requirements and recover equipment. An oil refining unit in which propylene or butylene reacts with iso 2 glossary of industry terms butylene to yield a high octane gasoline blending component called alkylate.
Multipurpose ship general cargo ship which can also carry containers. The oil and gas industry uses many acronyms and abbreviations this list is meant for indicative purposes only and should not be relied upon for anything but general information. Well discuss the some key exploration terminology, the basin play concept, and the usgs national oil and gas assessment. Crude oil produced outside the united states and brought into the united states. Scheduling, estimating, projectconstruction management. Apr 21, 2020 crude oil is a naturally occurring, unrefined petroleum product composed of hydrocarbon deposits and other organic materials. How can company executives remain vigilant to the many risks and uncertainties clouding the outlook for 2020 while standing ready to embrace new opportunities for profitable growth in an evolving market landscape, which might look quite different in the next decade and thereafter, as disruptive forces accelerate. Net production is the companys share of total production after deducting both royalties paid to. Oil tanker ship carrying crude oil or refined products. Department of transportation in the interest of information exchange. Pdf linguistic and normative aspects of oil and gas business. Noun n the codes c and u show whether a noun, or a particular sense of a noun, is countable an agenda, two agendas or uncountable aob, awareness. Refers to a negotiated ltl rate based on the combined freight class of multiple commodities.
The oil and gas industry is one of the worlds largest and most important global industries. List of abbreviations in oil and gas exploration and production. It offers publications regarding recommended industry practices and training materials. A vessel used to bury pipeline beneath the seafloor. Companies in the oil and gas industry are usually divided into one of three. Gas leasing terminology a to z this is by no means a complete list of terms used. A transportation document that acts as a contract between a shipper and receiver and includes details.
The terminology presented in this lesson is used frequently both in this selfstudy and in financial communications at mit. The oil and gas industry generates hundreds and thousands of job opportunities all around the world. Objectives in this lesson you will become familiar with basic sap terminology. The api publishes weekly statistics on the petroleum industry. Palm oil accounts for nearly 40% of global edible oil supply and 23 of global edible oil trade. Oil and gas well drilling and servicing etool glossary. A type of fossil fuel, crude oil can be refined to produce usable. Glossary of oil and gas terms acreagecontribution agreement a support agreement by which the contributing party agrees to contribute leases or interests in leases in the area of a test well to a drilling party in exchange for information, if the drilling party drills to. You will find that a number of these terms are depreciated and not used in real oil. Crude oil is considered as either domestic or imported according to the following. Upstream oil and gas exploration terminology ekt interactive. Dictionary of oil industry terminology iso translations. Before shopping around, however, its best to understand some basics. Sap terminology sap terminology along with classic financial terminology is used for business at mit.
Basic mortgage terminology definitions of common mortgage terms. The department of labor does not endorse, takes no responsibility for, and exercises no control over the linked organization or its views, or contents, nor does it vouch for the accuracy or accessibility of the information contained on the destination server. It may also include slang terms used by oilfield workers to describe the same. A shuttle tanker is a tanker carrying oil from offshore oil fields to terminals. Lng, co2 allowances, to coal, basic and precious metals and uranium requiring familiarity with. Crude oil produced in the united states or from its outer continental shelf as defined in 43 u.
Oil and gas well drilling and servicing etool glossary of. An oil refining unit in which propylene or butylene reacts with iso. These are some of the more common and basic terms you may need to know. A hole drilled in the earth for the purpose of finding or producing crude oil or natural gas or providing services related to the production of crude oil or natural gas. Scheduling, estimating, projectconstruction management, contract administration, and construction claims terminology for. Soon, oil had replaced most other fuels for motorized transport.
The term is commonly used in the oil and gas business to convey working interest, leases, royalty, overriding royalty interests and net profit interests. Crosscommodity trading is also a new reality from oil, gas. Artisanal and smallscale mining asmprotected areas and critical ecosystems pace 256 9. The donut is divided into three parts with the top half describing the oil s performance level, the center identifying the oil s viscosity and the bottom half informing whether the oil has energy conserving potential. Obviously, this list is not anywhere near exhaustive or definitive, but this should be the most comprehensive list anywhere. The barge moves itself forward by means of anchors. Herein you will discover a vast wealth of information, futures and options terms and definitions from actuals to writer. Click on any of the following market terms or phrases to see the definition. English vocabulary for oil and gas professionals 03 march, 2017 tips and vocabulary erin oneill. Cementation chemical precipitation of ions carried in groundwater chemically precipitating to form new crystalline material between sedimentary grains. All information about the international requirements engineering board ireb e. Note that, while this definition focuses on business models for industries, the same principles and goals are relevant to the discussion of the governments business model in promoting the production and use of natural gas.
To permanently plug a dry hole or well that no longer produces. Containers or other goods are lifted on board and ashore by cranes. Updated to add extra terms to the list if youve looked at any oil and gas reference books or even glance online. These are some of the most commonly used oil and gas terms. The gas that occurs with the oil either as free gas or in a solution. Dictionary of oil, gas, and petrochemical processing iis windows. Barrels per day abbreviated as bpd, bd, and bopd for oil. It includes words and phrases describing professions, equipment, and procedures specific to the industry. Having surpassed soy, palm oil is now the most consumed edible oil at 50 million tonsyear. If you would like to discuss mineral rights related issues with other landowners. The oil and gas industry uses many jargons, acronyms and abbreviations. We also have a page of oil and gas abbreviations and acronyms. Oil 101 an introduction to oil and gas elearning course. Liner vessel serving a regular defined route or trade, following a published sailing schedule.
In the industry, a person or company engaged in the movement of petroleum products, like a public utility. Exploration terminology in the search for new oil and gas discoveries, the exploration function includes multiple disciplines. Oilfield terminology refers to the jargon used by those working in fields within and related to the upstream segment of the petroleum industry. Excellent, indepth lists for further studying include. Wellhead a term usually defined as being at the christmas tree but, which under exceptional circumstances, may be defined as located at some other place. It is important to understand these terms to understand. In some classifications, a small business has fewer than 100 employees while a midsized business has 100999. A federal organization whose primary mission is to reduce crashes, injuries and fatalities involving large trucks and buses. Obocarrier vessel built for the carriage of diversified bulkcargoes i. Shale oil is a substitute for conventional crude oil. One of the most important, and confusing, decisions that people make is buying a home and taking out a mortgage to pay for the house.
If a ship is equipped to carry several types of cargo simultaneously, the ship type is called parcel tanker. Feb 25, 2020 the terms upstream and downstream oil and gas production refer to an oil or gas companys location in the supply chain. Chassis a rail shipping term that refers to a frame with wheels and locking devices to secure a. Driven by a shortage of studies on the morphosemantics of wordformation from a contrastive perspective, this article examines 200 english and spanish terms from the olive oil industry with the. To recover liquid hydrocarbons from natural or refinery gas in a gasabsorption plant. Petroleum online is a comprehensive series of elearning courses that provide an indepth overview of each sector of the international oil and gas industry. The oilfield glossary schlumberger oilfield glossary. Spwla petrophysical curve names and mnemonics oct11.
This is the complete online glossary of commodity market terminology. Spot market prices will often be tied to the delivery stipulations termed prompt, outer month, or any month. There are many factors that come into play for people looking to buy a house. Spot market terminology for deliveries that can be made at any time during the month at the sellers discretion. Common oil and gas industry terms explained a financial institution such as bank, brokerdealer, insurance company or business development company. Asbestos term applied to many fibrous silicate minerals, some forms of which are used in. Glossary has received awards of excellence from the business marketing association and the. Often times, bulk freight comes in the form of liquid or a granular form such as sand or crude oil. These terms are frequently found in proposals, leases, contracts, and other oil and gas business transaction documents. The wet gas enters the absorber at the bottom and rises to the top, encountering a stream of absorption oil a light oil traveling downward over bubblecap trays, valve trays, or sieve trays. List of abbreviations in oil and gas exploration and. Launched in 1998, the oilfield glossary, which includes more than 4600 entries, continues to expand and improve.
The schlumberger oilfield glossary has received awards of excellence from the business marketing association and the society for technical communication. Oil and gas aggregate operation are defined as the excavation or quarrying of aggregate that. Financial reporting in the oil and gas industry 3 foreword international financial reporting standards ifrs provide the basis for. Our glossary provides a comprehensive guide to the many expressions used. The terms in this glossary have been carefully selected from the myriad of terms one can encounter in the shipping business. A transportation company that owns its own equipment, usually trucks or containers. Any director, officer or general partner of the issuer. Oil and gas glossary of terms for production financing. The oil and gas industry has many unique terms and abbreviations. Oil and gas production handbook an introduction to oil. Dictionary of oil industry terminology definitions acronyms and abbreviations a aav annulus access valve ab3 valve alpha thames compact, quarterturn rotary, parallel fullbore, double block and bleed, expanding plug valve. Bits are designed on two basic and different principles.
The offshore drilling business is a technologyheavy industry, and if you want to invest in companies that function in this commodity space, you want to be familiar with some of the associated terminology. Crosscommodity trading is also a new reality from oil, gas, lng, co2 allowances, to coal, basic and precious metals and uranium requiring familiarity with trading terminology among a wider range of professionals. Disclaimer this information is disseminated under the sponsorship of the u. Glossary of business terms adjective adj headwords for adjectives followed by information in square brackets only before a noun and not before a noun show any restrictions on where they can be used. We have also provided a handy glossary of 35 essential english for oil and gas vocabulary words or phrases you should know. Glossary of oil and gas terms acreagecontribution agreement a support agreement by which the contributing party agrees to contribute leases or interests in leases in the area of a test well to a drilling party in exchange for information, if the drilling party drills to an agreed depth and develops the information. Oil and gas automation promises producers a multitude of business benefits, including. In this article we will show you some of the best selfstudy tools to start learning english for oil and gas, as well as online and inperson business english courses. Oil shale is an organicrich finegrained sedimentary rock containing kerogen a solid mixture of organic chemical compounds from which liquid hydrocarbons can be produced, called shale oil not to be confused with tight oilcrude oil occurring naturally in shales. It is not intended to be a definitive or exhaustive reference, nor should it be. It is easily accessible on the web and designed to make learning both challenging and enjoyable. Apr 09, 2015 here is a list of terms and acronyms used in oil transactions along with explanations of what these terms mean. An extra fee charged by carriers for additional services rendered, which can include detention and fuel surcharges. But it was not until 1859 that colonel edwin drake drilled the first successful oil well, for the sole purpose of finding oil.
Glossary of oilfield production terminology got definitions and abbreviations first edition, january 1, 1988 american petroleum institute 1220 l street, northwest. T his glossary of common oil and gas terms and definitions will aid newcomers as well as experienced royalty owners or mineral owners with the terminology used in the oil and gas industry. It is a key sector for individuals who have studied and wish to pursue careers in science, technology, engineering and maths stem subjects. Mostly coming from user contributions, it is contextual and is meant for indicative purposes only. English vocabulary for oil and gas professionals tlg blog. Glossary of terms used in the trading of oil and gas, utilities. Ai and digital technology make it possible to reduce costs by both replacing some human labor and enhancing the safety and accuracy of existing humandriven tasks. Ireb syllabi are complemented by this glossary of requirements engineering terminology and by other, supplementary materials. A jet sled is lowered over the pipeline, and as the barge pulls it over the pipe, highpressure jets of water remove soil from beneath the pipe, allowing the pipe to fall into the jettedout trench.
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