List of Acronyms & Abbreviations used in PETROLEUM INDUSTRY

American Petroleum Institute (API) is a trade association representing the oil and gas industry in the United States.

Barrels per Barrel (BBL), is a measurement used to describe the amount of oil produced per barrel.
 

Blowout Preventer (BOP) is a device used to prevent blowouts in oil and gas wells by controlling the flow of fluids.

Coal Bed Methane (CBM) is a Methane gas found in coal deposits that can be extracted and used as a fuel source.

Carbon Capture, Utilization, and Storage (CCS) is a technology used to capture carbon dioxide emissions from power plants and other industrial processes and store them underground.

Compressed Natural Gas (CNG) is a clean-burning fuel source derived from natural gas that is compressed and stored for use in vehicles.

Carbon Dioxide (CO₂) is a greenhouse gas that is a byproduct of burning fossil fuels.

Diesel Alternative Fuel (DAF) is a term used to describe alternative fuels, such as biodiesel, that can be used in place of diesel fuel.

Exploration and Production (E&P) is the process of finding and extracting oil and gas resources.

Enhanced Oil Recovery (EOR) is a technique used to increase the amount of oil that can be extracted from a reservoir.

Environmental Protection Agency (EPA) is a U.S. Government agency responsible for protecting the environment and public health.

Final Investment Decision (FID) is the point at which a major project, such as a new oil field, is approved and funding is committed.

Floating Liquefied Natural Gas (FLNG) is a technology that allows natural gas to be liquefied and stored on a floating platform, making it easier to transport and sell.

Greenhouse Gas (GHG) is a gas that traps heat in the Earth's atmosphere, contributing to global warming.

Hydrogen Sulfide (H2S) is a toxic gas that is often found in oil and gas wells and must be removed before the gas can be used.

International Maritime Organization (IMO) is a United Nations agency responsible for regulating international shipping and reducing greenhouse gas emissions.

Liquified Natural Gas (LNG) is a clean-burning fuel source derived from natural gas that is liquefied and stored for transport.

Thousand Cubic Feet (MCF) is a measurement used to describe the amount of natural gas produced.

Megawatt (MW):  A measurement used to describe the amount of power generated by a power plant.

Organization of the Petroleum Exporting Countries (OPEC) is a group of oil-producing countries that work together to regulate the global oil market.

Plugging and Abandonment (P&A) is the process of permanently sealing an oil or gas well when it is no longer in use.

Production Sharing Contract (PSC) is an agreement between a government and an oil company that outlines the terms of oil and gas production in a particular area.

Research and Development (R&D) is the process of developing new technologies and techniques for the oil and gas industry.
 

Supply Chain Management (SCM) is the process of managing the flow of goods and services from suppliers to customers in the oil and gas industry.

South Central Oklahoma Oil Province (SCOOP) is an area in Oklahoma that has seen a recent increase in oil production due to new drilling technologies.

Shale Formation (SHALE) is a type of rock that contains oil and gas resources that can be extracted using hydraulic fracturing.

Texas Commission on Environmental Quality (TCEQ) is a state agency responsible for regulating environmental issues in Texas.

Total Incremental Area (TIA) is a measure of the amount of land that is being developed for oil and gas production.

Ultra-Low-Cost Carrier (ULCC) is a type of airline that operates with low costs by using new technologies and streamlined operations.

Volatile Organic Compound (VOC) is a type of air pollutant that is often found in oil and gas operations and must be controlled to meet environmental standards.