As a student, an operator, stakeholder or intending investor in the oil and gas industry, here below are of the oil and gas technical terms you must be familiar with.
AF – Alternative Funding
AGO – Automotive Gas Oil
ATK – Aviation Turbine Kerosene
B/L – Bill of Lading
BBLS – Barrels
CCU – Crude Catalytic Cracking Unit
DPK – Dual Purpose Kerosene
DPR – Department of Petroleum Resources
DSDP – Direct Sales Direct Purchase
EGTL – Escravos Gas to Liquid
FCCU – Fluid Catalytic Cracking Unit
FPSO – Floating, Production, Storage, Offloading
FSO – Floating Storage Offloading
IOC – International Oil Companies
JV – Joint Ventures
LPG – Liquefied Petroleum Gas
LPFO – Low Pour Fuel Oil
LNG – Liquefied Natural Gas
MMBTU – Million British Thermal Unit
MT – Metric Tones
NGL – Natural Gas Liquids
NNPC – Nigerian National Petroleum Corporation
OML – Oil Mining Lease
OPEC – Organisation of Petroleum Export Countries
OPA – Offshore Processing Agreement
OPL – Oil Prospecting License
PMS – Premium Motor Spirit
PPMC – Pipelines and Products Marketing Company
PPT – Petroleum Profit Task
PSC – Production Sharing Contract
PTD – Petroleum Tankers Drivers Union
SCF – Standard Cubic Foot
Sm3 – Standard Cubic Meter
QIT – Qua Iboe Terminal
By Peace Obi
Be the first to know when we publish an update
