The heaviest components of petroleum product left in the refining process after the light ends have been removed. These products include asphalt, coke and residuals.
Petroleum imported and entered into Customs bonded storage. These imports are not included in the import statistics until they are: (1) withdrawn from storage free of duty for use as fuel for vessels and aircraft engaged in international trade; or (2) withdrawn from storage with duty paid for domestic use. Bonded fuel is typically exempt from import duties or fees.
The rating of a steam boiler expressed as the total heat transferred by the heating surfaces in Btu per hour. Sometimes also expressed in horsepower or pounds of steam per hour.
The ratio of the useful heat output to the heat input multiplied by 100 and expressed as a percent.
A closed vessel in which a liquid is heated and/or vaporized. Often classified as to steam or hot water, low pressure or high pressure, capable of burning one fuel or a number of fuels.
A facility which has no refining capability but is either capable of producing finished motor gasoline through mechanical blending or blends oxygenates with motor gasoline.
Certificate issued by FERC which authorizes open access transportation by interstate pipeline companies on behalf of others and certain services by local distribution companies and Hinshaw companies under blanket certificates (of public convenience and necessity) subject to certain conditions and reporting requirements.
Any fuel derived by a variety of processes from an organic source that is renewable, i.e. capable of being replenished naturally.
Prices offered to buy and sell, respectively, on spot market deals. An interested party can sell at the bid and buy at the asked price. Spot prices are not reported as a straight number, but rather, in terms of bid and ask. OPIS editors derive an appropriate price from those to report a value that’s representative of that market. Bid is what the buyer is willing to pay and ask is what the seller wants for the product.
An aromatic hydrocarbon present in small proportion in some crude oils and made commercially from petroleum by the catalytic reforming of naphthenes in petroleum naphtha. Also made from coal in the manufacture of coke. Used as a solvent, in manufacturing detergents, synthetic fibers, and petrochemicals and as a component of high-octane gasoline.