oil & gas assets

Glossary of Industry Terms

This library of terms is constantly growing. If you cannot find a term you need or would like to suggest a term to add to this glossary email us at memberservice@plsx.com


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Distillates
The products of condensation during the fractional distillation process (gaseous fuels, naphtha, gasoline, kerosene and gas oils).
Distillation
A process based on the difference in boiling points of the liquids in the mixture to be separated. Successive vaporization and condensation of crude oil in a fractionating column will separate out the lighter products, leaving a residue of fuel oil or bit
Downstream
Activities which take place between the loading of crude oil at the export terminal and the use of the oil by the end-user. This encompasses the ocean transportation of crude oil, supply and trading, refining and the distribution and marketing of the oil
Dry Hole
An unsuccessful well, drilled without finding commercial quantities of oil or gas.
DV (Drilling Venture)