| Rack Price |
| The price charged by a supplier of petroleum products for fuel purchased on an FOB basis at the seller's terminal (or "rack"). The term usually refers to product delivered by truck. Prices published are meant to be firm with discounts given only on very large purchases. An alternative system involves posted prices. |
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| Rad |
| The unit of absorbed dose of energy from ionizing radiation in living systems. The rad represents a unit of energy imported to matter ionizing radiation per unit mass of the irradiated matter. It corresponds to 0.01 joules per kilogram of tissue. |
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| Radioactive Waste |
| Substances, usually produced by the nuclear fuel cycle, that radiate waves and/or particles, but cannot be used in the nuclear fuel cycle. The most highly contaminated waste from the nuclear fuel cycle most of the fission products from irradiated fuel, plus small amounts of unseparated uranium and plutonium, plus the greater proportion of the actinides produced in the reactor. Such waste usually contains millions of curies per cubic metre. |
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| Radionuclide |
| A radioactive nuclide (atom). |
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| Rate of Take |
| The average daily rate of production of natural gas related to the volume of initial established reserves assigned to the reservoir or reservoirs from which that production is obtained. For example, a rate of take equal to 1:7,300 metres of initial established reserves. |
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| Raw Natural Gas |
| The mixture if lighter hydrocarbons and associated non-hydrocarbon substances occurring naturally in an underground reservoir, which, under atmospheric conditions, is essentially a gas, but may contain liquids. |
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| Reactor |
| An assembly of nuclear fuel able to sustain a controlled chain reaction based on nuclear fission. |
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| Reaming |
| Operation whereby the well bore is made larger to carry out functions such as running casing, storing pipe, etc. |
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| Recoverable Resources |
| An estimate of resources, including crude oil and/or natural gas, both proved and undiscovered, considered economically extractable under specified price/cost relationships and technological conditions.
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| Recovery Factor |
| The ratio of recoverable oil and/or gas reserves to the estimated oil
and/or gas in place in the reservoir. |
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| Recovery Methods |
| Various technologies for the production of crude oil from petroleum reservoirs, depending on the viscosity of the oil, the type of geological formation and the depth and natural pressures at which the recovery processes are applied. Recovery processes are categorized as either primary or enhanced (secondary and tertiary). Enhanced recovery methods include water-flooding, high-pressure live steam (tertiary recovery), wet combustion and fire flooding. |
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| Recovery Methods / Primary |
| The volume of crude oil recoverable from a reservoir through natural depletion processes only. |
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| Recovery Methods / Secondary |
| The incremental volume of crude oil recoverable from a reservoir through the utilization of a pressure maintenance scheme such as water flooding or gas injection. |
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| Recovery Methods / Tertiary |
| The incremental volume of crude oil recoverable from a reservoir other than through natural depletion and pressure maintenance processes. |
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| Recovery Methods / Enhanced |
| The incremental volume of crude oil recoverable from a reservoir through a production process other than natural depletion; the production process used to achieve such incremental volume. Enhanced recovery includes both secondary and tertiary recovery. |
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| Refining |
| Manufacture of petroleum products by a series of processes that separate crude oil into its major components and blend or convert these components into a wide range of finished products, such as liquefied petroleum gases, gasoline, kerosene, diesel fuel, jet fuel, heating fuels, lubricants, asphalts and petrochemical feedstocks. |
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| Reformate |
| The product of catalytic reforming. Reformate furnishes a high percentage of a refinery's gasoline production, and this is expected to increase as the use of lead as an anti-knock agent is curtailed. |
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| Reforming |
| A petroleum refining process, using employing catalysis, in which heat and pressure are used to cause cracking and isomerization of the hydrocarbon molecules in low-octane petroleum fractions. The reformed hydrocarbons have higher octane numbers than the original material. |
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| Rem |
| The unit of dose equivalence, literally "roentgen equivalent man". The dose equivalence is equal to the absorbed dose of radiation (in rads), multiplied by any quality of modifying factors involved in a specific irradiation situation. One rem is a dose of any iodizing radiation estimated to produce a biological effect equivalent to that produced by one roentgen of x-ray radiation. |
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| Remaining Established Reserves |
| Initial established reserves less cumulative production. |
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| Renewables |
| Energy sources that are perpetual or replenishable. Solar, biomass, geothermal, wind and hydraulic energy resources are common examples. |
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| Research Octane Number |
| The more recently developed of two numerical systems for measuring gasoline octane. The octance number of a gasoline reflects its anti-knock properties, that is, its ability to withstand compression without detonating in an internal combustion engine. |
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| Reserve, Electricity |
| The capacity margin between peak load and rated capacity. "Planned" reserve is the provision for probability of unplanned outages - usually 10-25% of peak load. "Surplus" generally refers to capacity in excess of the peak load plus planned reserve. |
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| Reserve (Pool) |
| A porous and permeable underground formation of producible oil and/or natural gases, confined by impermeable rock or water barriers and characterized by a single natural pressure system. |
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| Reserves Additions |
| Incremental changes to establish reserves from the discovery of new pools and/or reserves appreciation. |
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| Reserves Appreciation |
| Incremental changes in established reserves resulting from extension of existing pools and/or revisions to a previous reserves estimate and/or by application of improved recovery methods. |
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| Reserves Life Index |
| Remaining reserves divided by annual production. |
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| Reservoir |
| The underground formation where oil and gas has accumulated.
It consists of a porous rock to hold the oil or gas, and a cap rock that prevents its escape. |
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| Residual Fuel |
| Liquid fuel produced from the residuum of the petroleum refining process. Also called heavy fuel oil or resid. |
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| Residuum |
| Liquid or semi-liquid products obtained as residues from the distillation of petroleum. They contain the asphaltic hydrocarbons. Also known as residual oils, asphaltum oil, liquid asphalt, black oil and petroleum tailings. |
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| Resources, Energy |
| All potential energy producing natural phenomena and accumulations known or inferred to exist (for example, oil, gas, coal, uranium, hydraulic, peat, biomass, etc). |
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| Retrofitting |
| Adding a device or materials to an existing unit for the purpose of enhancing the functional performance of the original unit. Sometimes referred to as backfitting. |
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| Return on Assets |
| Net income (or profit) before extraordinary items, interest expense, income taxes and minority interest, divided by average total assets. Indicates how effectively a company is employing its assets. |
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| Return on Capital |
| Net income (or profit) before extraordinary items, interest expense, and income taxes, divided by average capital. Shows how effectively a company is employing its capital to generate profit. |
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| Return on Common Equity |
| Net income (or profit) before extraordinary items, less preferred dividends, divided by average common shareholders' equity. Shows that rate of return on the investment for the company's common shareholders, the only providers of capital who do not have a fixed return. |
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| Return on Investment |
| A measure of the profitability of a business enterprise. The general form is profit divided by investment, but the calculations can take many alternative forms. Investment can refer to stockholders' equity only, or can also include long-term borrowed funds, or all resources available to a company (that is, total assets). Profits can be before or after corporate income taxes. Also referred to as a rate of return. |
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| Return on Total Equity |
| Net income after interest and taxes, excluding extraordinary gains or losses, divided by average total shareholders' equity (common and preferred). Used in charts when return on common equity could not be calculated because the breakdown between common and preferred stock or dividends was not available. Represents the return on all shareholders' investment in a company. |
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| Revenue |
| Total revenue from operations, less sales and excise taxes, plus income from investments and any other pre-tax income. |
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| Rigging Up |
| Assembling a rig in order to start drilling. |
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| Rotary Table |
| A machine over the well bore which transfers the power from the engines to a rotary motion. |
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| Royalties, Royalty Payment |
| Payments made by a producer to the resource owner - governments, freehold landowners, or native people - usually calculated as a percentage of the sales price or a share of the production.
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