Unit that is normally used to express liquid and gas volumes in the same unit of measurement (barrels). A cubic meter of domestic natural gas is approximately 0.00629 barrel of oil equivalent. There are different rates for each natural gas and oil composition.
A fuel that is an alternative to diesel fuel. It is renewable and biodegradable and is obtained from the chemical reaction of animal or vegetable oils with alcohol in the presence of a catalyst (a reaction known as transesterification). It can also be obtained trough cracking and esterification processes.
A small portion of a sedimentary basin where oil and natural gas exploration and production is carried out.
A blend of oils produced in the North Sea, from the Brent and Ninian oil systems, which has 39.4° API gravity and sulfur content of 0.34%.
Storage of atmospheric CO2 by biomass, by means of planting or reforestation, by absorbing the gas to perform photosynthesis. This compensates, during the plant’s growth period, for part of the emissions.
Projects certified under the Kyoto Protocol and carried out in developing countries (which have no targets in the protocol) to reduce greenhouse gas emissions. These projects allow developed countries to acquire carbon credits to meet their targets for reducing greenhouse gases.
Cubic meter: 1 m3 = 1,000 liters = 6.28994113 barrels.
Barrel: 1b = 0.158984 m3 = 158.984 liters.
Relationship among economic agents (shareholders, executives, board members) with capacity to influence/determine the direction and the performance of a corporation. Good corporate governance assures the stockholders that there will be equitable treatment, transparency, and accountability.
Oil that enters a process plant for the first time.
Ocean waters located in areas where water depths generally range between 300 m and 1,500 m. In general, the limits result from aspects related to the state of the art in the technology required for stationary drilling or production units, limits of human diving.
A contract or security whose value is related to the changes in the price of another security, hedge instrument.
Capturing and safe storage of carbon dioxide (CO2) before it reaches the atmosphere.
Reflects the return of a theoretical portfolio composed of stocks of companies listed on the New York Stock Exchange (NYSE) with the best performance in all dimensions of corporate sustainability. Considered the world’s most important sustainability index, the DJSI is used as an analysis parameter by socially and environmentally responsible investors.
Well tests with total flow time of more than 72 hours, performed during the exploration phase for the sole purpose of obtaining data and information in order to get to know the reservoirs. Hydrocarbons produced during the EWT are also subject to royalties.
An oil-producing geographical area encompassing one or more underground oil or natural gas reservoirs, possibly at variable depths, including facilities and equipment destined for production.
The heavier fractions from atmospheric distillation of petroleum. Widely used as an industrial fuel in boilers, furnaces, etc.
Supercooled natural gas that is maintained as a liquid at -160º Celsius or less, for the purpose of storage and transportation.
A blend of hydrocarbons with high-pressure steam, obtained from natural gas in special refinery processors and kept in its liquid state under special surface storage conditions.
A company’s value measured based on the price of its shares on the market, according to the following formula: (share price x number of shares).
An oil product mainly used as feedstock by the petrochemical industry to produce ethylene and propylene, along with other liquid fractions such as benzene, toluene and xylene.
Formed by companies from Southern, Southeastern, Midwestern, Northeastern, and parts of Northern Brazil, the system comprises the entire structure of production and transmission of electricity in Brazil, operating in a coordinated, centralized manner to gain from the interaction between different agents. In Brazil, this system is hydrothermal, and has a predominance of hydroelectric generation.
Any hydrocarbon or mixture of hydrocarbons that remains in a gaseous state under normal atmospheric conditions, extracted directly from oil or gas reservoirs, including moist, dry, residual and rare gases.
Organization of Petroleum Exporting Countries. Algeria, Angola, Ecuador, Iran, Iraq, Kuwait, Libya, Nigeria, Qatar, Saudi Arabia, United Arab Emirates and Venezuela.
Oil and/or natural gas reserves that, based upon the analysis of geological and engineering data, are estimated to be profitably recoverable from reservoirs discovered and evaluated to a high degree of certainty, taking into account prevailing economic conditions, feasible operational methods, and Brazilian petroleum and tax regulations.
A physical process whereby, through temperature elevation, natural gas in the liquid phase (liquid natural gas) returns to its original gaseous state.
Discovered oil or natural gas resources that are commercially recoverable from a specific date.
Securities and Exchange Commission. Regulator and watchdog of the American capitals market.
Fuel made from residual biomass coming from other industrial processes, particularly sugarcane bagasse.
A contract to exchange payment flows between two parties. A traditional type of oil swap consists of a contract in which one party buys for a determined fixed price and sells at a future floating price.
Ocean waters located in areas where water depths are generally greater than 1,500 m.
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