In the fuels and lubricants industry, it is common to encounter a plethora of acronyms that can be confusing to those unfamiliar with the industry. From extraction and refining to distribution and final consumption, each process has specific terms that facilitate communication between professionals.
Here, we’ll break down some of the most commonly used acronyms in the fuels, oils and specialty products industry.
Acronyms related to fuels
Here are some of the most commonly used acronyms in the fuels industry:
ULSD, Ultra-Low Sulfur Diesel
ULSD is a type of fuel that contains a maximum of 15 ppm sulfur, which helps reduce pollutant emissions and improve the efficiency of modern engines.
MGO, Marine Gas Oil
It is a fuel used in boat engines, with lower sulfur content than heavy fuel oil, which makes it cleaner and more efficient in terms of emissions.
GLS (gallons)
A unit of volume used to measure liquids such as gasoline and diesel fuel. In the United States, one gallon equals 3.785 liters. It is commonly used in commercial fuel transactions.
BBLS, barrels
In the oil industry, one barrel is equivalent to 42 U.S. gallons (approximately 159 liters). It is a standard unit of measurement for the marketing of crude oil and petroleum products.
MT, Metric Ton
In the oil and fuels industry, a metric ton is equivalent to 1,000 kilograms or approximately 2,204 pounds, and is used to measure large volumes of hydrocarbons.
NGL, Natural Gas Liquids
Include ethane, propane, butane and other hydrocarbons that are separated from natural gas in processing plants. They are used as feedstock in the petrochemical industry and as heating and transportation fuels.
LNG, Liquefied Natural Gas
LNG is a natural gas that has been cooled to -162 °C to turn it into a liquid, making it easier to transport and store. This process reduces its volume by up to 600 times, allowing it to be transported in specialized ships and distributed to places where there are no pipelines.
BTU, British Thermal Unit
A unit of energy measurement used in the oil and gas industry. One BTU represents the amount of heat required to raise the temperature of one pound of water by one degree Fahrenheit. It is commonly used to measure the calorific value of fuels.
Acronyms related to lubricants
Here are some of the most commonly used acronyms in the lubricant industry:
VG, Viscosity Grade
Viscosity is used to classify lubricating oils according to their resistance to flow. The most common standard is SAE, which divides oils into grades such as 10W-30 or 15W-40, depending on their behavior at different temperatures.
CST, Centistokes
Used to measure the kinematic viscosity of a liquid, especially in fuel and lubricating oils. A higher viscosity indicates a slower flow, which is crucial for selecting the right fuel for engines and turbines.
ISO, International Organization for Standardization
In the fuel industry, ISO defines standards for product quality, manufacturing processes and industrial safety.
NGI, National Gas Index
A benchmark index that provides average natural gas prices in different U.S. markets, used as a guide in supply negotiations and contracts.
HO (heating oil)
A petroleum derivative used primarily as a fuel in residential and industrial heating systems. Its price is also used as an indicator in energy markets.
Acronyms related to extraction
These are some of the most commonly used acronyms in the extraction industry:
EOR, Enhanced Oil Recovery
Refers to advanced techniques used to increase the amount of oil extracted from a reservoir, such as injecting gas, water or chemicals to improve reservoir pressure and facilitate extraction.
FPSO, Floating Production, Storage, and Offloading Unit
These are vessels used in offshore oil and gas extraction, where the extracted hydrocarbons are processed, temporarily stored and then transferred to tankers for transportation.
MV, Motor Vessel
A prefix used in the name of vessels with their own engines, such as tankers and cargo ships.
Acronyms related to market
These are some of the most commonly used acronyms in market:
PLATTS
An international agency that publishes price assessments for energy, petrochemicals, metals and agricultural products. In the fuel sector, PLATTS prices are a key reference for commercial transactions worldwide.
NYMEX (New York Mercantile Exchange)
It is a futures exchange in New York City where contracts for oil, natural gas, gasoline and other energy products are traded. The prices established on NYMEX serve as a global benchmark for the energy market.
RBOB (gasoline price on the market)
A gasoline base blend with no additives used to create reformulated gasoline. Its price is used as a benchmark in the stock markets to estimate the cost of gasoline in the US.
Acronyms in the fuels and lubricants industry play a crucial role in communication between industry professionals. Understanding their meaning facilitates decision making and improves efficiency in day-to-day operations.
From units of measurement to technical terms, familiarity with these concepts is key to optimizing processes and ensuring the quality of products used in various industrial applications.
At American Petroleum, we are committed to providing high quality energy products and solutions in Puerto Rico and the Caribbean. For more information about our products and services, we invite you to visit americanpetroleumpr.com.