• Off peak gas
    Gas that is to be delivered and taken on demand when demand is not at its peak.

  • Oil
    mixture of hydrocarbons usually existing in the liquid state in natural underground pools or reservoirs. Gas is often found in association with oil.

  • Oil company use
    Includes sales to drilling companies, pipelines or other related oil companies not engaged in the selling of petroleum products. Includes fuel oil that was purchased or produced and used by company facilities for the operation of drilling equipment, other field or refinery operations, and space heating at petroleum refineries, pipeline companies, and oil-drilling companies. Oil used to bunker vessels is counted under vessel bunkering. Sales to other oil companies for field use are included, but sales for use as refinery charging stocks are excluded.

  • Oil reservoir
    An underground pool of liquid consisting of hydrocarbons, sulfur, oxygen, and nitrogen trapped within a geological formation and protected from evaporation by the overlying mineral strata.

  • Oil shale
    A sedimentary rock containing kerogen, a solid organic material.

  • Oil stocks
    Oil stocks include crude oil (including strategic reserves), unfinished oils, natural gas plant liquids, and refined petroleum products.

  • Oil well
    A well completed for the production of crude oil from at least one oil zone or reservoir.

  • Oil well (casinghead) gas
    Associated and dissolved gas produced along with crude oil from oil completions.

  • OIM
    Offshore Installation Manager.

  • Old field
    A field discovered prior to the report year.
  • OPEC
    Organisation of Petroleum Exporting Countries founded in 1960. Current members - Algeria, Indonesia, Angola, Iran, Iraq, Kuwait, Libya, Nigeria, Qatar, Saudi Arabia, UAE, Venezuela.
  • Operator, oil and/or gas well
    The person responsible for the management and day-to-day operation of one or more crude oil and/or natural gas wells as of December 31 of the report year. The operator is generally a working-interest owner or a company under contract to the working-interest owner(s). Wells included are those that have proved reserves of crude oil, natural gas, and/or lease condensate in the reservoirs associated with them, whether or not they are producing. Wells abandoned during the report year are also to be considered "operated" as of December 31.
  • Orimulsion
    A heavy oil and water mixture, originating in the Orinoco Basin, Venezuela, marketed as an industrial fuel.
  • Other oils
    Other oils equal to or greater than 401 degrees Fahrenheit: Oils with a boiling range equal to or greater than 401 degrees Fahrenheit that are intended for use as a petrochemical feedstock.
  • Other refiners
    Refiners with a total refinery capacity in the United States and its possessions of less than 275,000 barrels per day as of January 1,1982.