One of the natural gas liquids, mostly pentanes and heavier hydrocarbons, recovered and separated as liquids at gas inlet separators or scrubbers in processing plants.
Trading conducted within the normal hours of the NYMEX inside the open outcry pits. Pit hours are generally 9:45 a.m. to 3:10 p.m. ET for most contracts. With the advent of overnight or after hours trading on the ACCESS automated system, it has become necessary to identify pit trading.
A network that allows crude oil, refined products and gas liquids to move across the country, usually from either refineries to terminals or from coastal (import) locations to terminals and refineries further inland.
See Batch.
The transportation of highway trailers or removable trailer bodies on rail cars specifically equipped for the service. It is essentially a joint carrier movement in which the motor carrier forms a pickup and delivery operation to a rail terminal, as well as a delivery operation at the terminating rail head.
Petroleum products are obtained from the processing of crude oil (including lease condensate), natural gas, and other hydrocarbon compounds. Petroleum products include unfinished oils, liquefied petroleum gases, pentanes plus, aviation gasoline, motor gasoline, naphtha-type jet fuel, kerosene-type jet fuel, kerosene, distillate fuel oil, residual fuel oil, petrochemical feedstocks, special naphthas, lubricants, waxes, petroleum coke, asphalt, road oil, still gas, and miscellaneous products.
A residue high in carbon content and low in hydrogen that is the final product of thermal decomposition in the condensation process in cracking. This product is reported as marketable coke. The conversion is 5 barrels (of 42 U.S. gallons each) per short ton. Coke from petroleum has a heating value of 6.024 million Btu per barrel.
- Catalyst Coke: The only catalytic coke used as a fuel is the coke on catalyst in the FCC process. In other catalytic processes there is coke deposited on catalyst, but it is not regenerated in a way such that the heat of combustion is recovered.
- Marketable Coke: Those grades of coke produced in delayed or fluid cokers which may be recovered as relatively pure carbon. This “green” coke may be sold as is or further purified by calcining.
Five geographic areas into which the United States was divided by the Petroleum Administration for Defense for purposes of administration during federal price controls or oil allocation. They are:
- PADD1: Connecticut, Delaware, District of Columbia, Florida, Georgia, Maine, Maryland, Massachusetts, New Hampshire, New Jersey, New York, North Carolina, Pennsylvania, Rhode Island, South Carolina, Vermont, Virginia and West Virginia.
- PADD2: Illinois, Indiana, Iowa, Kansas, Kentucky, Michigan, Minnesota, Missouri, Nebraska, North Dakota, Ohio, Oklahoma, South Dakota, Tennessee and Wisconsin.
- PADD3: Alabama, Arkansas, Louisiana, Mississippi, New Mexico and Texas.
- PADD4: Colorado, Idaho, Montana, Utah and Wyoming.
- PADD5: Alaska, Arizona, California, Hawaii, Nevada, Oregon and Washington.
Chemical feedstocks derived from petroleum principally for the manufacture of chemicals, synthetic rubber, and a variety of plastics. The categories reported are “Naphtha Less Than 401° F” and “Other Oils Equal To or Greater Than 401° F.”
The countries that comprise the Persian Gulf are Bahrain, Iran, Iraq, Kuwait, Qatar, Saudi Arabia, and the United Arab Emirates.