Neste Oil Annual Report 2005
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Glossary
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A

Aframax Worldscale
A marine cargo rate index calculated by the Baltic Exchange in London and based on shipments carried between Sullom Voe and Rotterdam in vessels capable of loading in excess of 80,000 tons of cargo.

B

Barrel
(b or bbl) A standard unit of crude oil measurement, equivalent to approx. 159 liters, 0.137 tons, or 0.159 m3. bbl/d = barrels per day, mbbl/d = million barrels per day.

Base oil
The main component in lubricant blends. Biofuels Fuels produced from vegetable oils and other organic sources. Use of these fuels reduces greenhouse gas emissions (CO2).

Bitumen
The bottom product of crude oil vacuum distillation; solid or semi-solid at room temperature.

Brent
Light crude oil from the North Sea, named after one of the region’s largest fields.

C

Component
A term used to describe the constituents used in producing fuels. Gasoline, for example, can comprise over 10 individual components.

D

Dwt
Deadweight ton A unit of measurement referring to the total weight of a vessel, including cargo, fuel, fresh water, stores, and crew.

E

EHVI
(Enhanced High Viscosity Index) A base oil used in producing high-quality motor oils that contribute to lower fuel consumption.

ETBE
(ethyl tert-butyl ether) A bioethanol-based gasoline component designed to enhance combustion and reduce exhaust emissions.

Ethibel
(http://www.ethibel.org) is an independent consultancy agency that provides advice on socially responsible investment to financial institutions and manages a quality label and index,
issued to European banks and brokers offering ethical products and funds.

F

Feedstocks
Crude oil, condensate, components, and other materials used by refineries and other facilities as their raw material input.

Fossil fuels
Fuels originating from organic material laid down millions of years ago, including oil, coal, and natural gas.

G

Gallon
The US gallon (3.8 liters) is a standard unit of measurement used in the oil industry. The imperial gallon is slightly larger, equivalent to 4.5 liters.

H

HSE
An abbreviation of Health, Safety, and the Environment. Hydrocracker A unit used to ‘crack’ heavy hydrocarbons at high pressure and high temperature in the presence of hydrogen,
to produce fractions for premium-quality fuels.

I

IEA
Brent Cracking A reference refining margin used by Neste Oil that refers to the typical margin achieved by refineries in northern Europe using Brent crude oil. Calculated by the International Energy Agency (IEA).

ISO
(International Organization for Standardization) ISO 9000/14000/18000 standards covering quality, the environment, and safety are widely used in industry. Iso-octane A butane-based, high-octane component used in producing low-emission gasoline.

M

MTBE
(methyl tert-butyl ether) An oxygen-rich component designed to promote cleaner gasoline combustion.

N

Nelson Complexity Index
An index used to compare refining capability, compiled annually by the Oil & Gas Journal. Refineries are rated on the number of refining units they operate and their technological sophistication. The higher the figure given to a refinery, the more advanced it is in terms of refining capability.


NExBTL
Neste Oil’s biodiesel, based on the company’s proprietary technology. NexBTL production is a highly flexible process that can use both vegetable oils and animal fats. The
first NExBTL production unit will be completed at Porvoo in summer 2007.

NExETHERS
A technology developed by Neste Oil for producing high-quality, low-emission gasoline components.

NExOCTANE
A technology developed by Neste Oil for producing iso-octance, a premium-quality gasoline component.

NExTAME
A Neste Oil technology used for producing highquality, low-emission gasoline components.

O

OHSAS
18001 See ISO.

P

PAO
(polyalphaolefin) A synthetic base oil used in the production of premium-quality lubricants.

Ppm
Parts per million, milligrams per kilo.

Polypropylene
(PP) One of the most common type of plastic, which is used to produce freezer boxes, for example.

R

RC
– Responsible Care A voluntary environment, health, and safety program developed and promoted by the international chemical industry.

Russian Export Blend
(REB) A blend that contains crude oil from a number of fields connected to the Russian pipeline network.

S

SCR
(Selective Catalytic Reduction) A technology used in catalytic converters to reduce NOx-related exhaust emissions significantly. The majority of European automotive manufacturers have selected SCR technology to ensure that their heavy vehicles comply with the Euro IV emissions
standard.

Sulfur-free fuel
A fuel that contains less than 10 mg/kg (ppm) of sulfur.