• Refinery output
    The total amount of petroleum products produced at a refinery. Includes petroleum consumed by the refinery.

  • Refining Margin
    The product value less the feedstock and refining costs and value of any loss in the refining process.

  • Regasification
    The process by which LNG is heated, converting it into its gaseous state.

  • Renewable Energy
    Designated commodity or resource, such as solar energy, biodiesel fuel, or firewood, that is inexhaustible or replaceable by new growth.

  • Reservoir
    A subsurface, porous, permeable rock formation in which oil and gas are found.

  • RON/MON
    Research Octane Number / Motor Octane Number.

  • Roughneck
    The floorman in a drilling crew who sets the slips to hold the drill pipe, handles the tongs or elevators and other equipment around the rig floor.

  • Roundtrip
    The complete process of pulling out and running in the drill-string.

  • Royalty
    Payment of a percentage of gross income from the production of minerals, including hydrocarbons, by the company licensed to produce, to the State.

  • RVP
    Reid Vapour Pressure (VP in PSI at 100F).