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Category: | Crude Reserves & Production |
Topic: | Crude Oil Production |
Definitions | |
Key Terms | Definition |
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Barrel | A unit of volume equal to 42 U.S. gallons. |
Crude Oil | A mixture of hydrocarbons that exists in liquid phase in natural underground
reservoirs and remains liquid at atmospheric pressure after passing through
surface separating facilities. Depending upon the characteristics of the crude
stream, it may also include:
Liquids produced at natural gas processing plants are excluded. Crude oil is refined to produce a wide array of petroleum products, including heating oils; gasoline, diesel and jet fuels; lubricants; asphalt; ethane, propane, and butane; and many other products used for their energy or chemical content. |
Crude Production | The volume of crude oil produced from oil reservoirs during given periods of time. The amount of such production for a given period is measured as volumes delivered from lease storage tanks (i.e., the point of custody transfer) to pipelines, trucks, or other media for transport to refineries or terminals with adjustments for (1) net differences between opening and closing lease inventories, and (2) basic sediment and water (BS&W). |
Petroleum Administration for Defense (PAD) Districts | Geographic aggregations of the 50 States and the District of Columbia into five districts by the Petroleum Administration for Defense in 1950. These districts were originally defined during World War II for purposes of administering oil allocation. Description and maps of PAD Districts and Refining Districts. |
For definitions of related energy terms, refer to the EIA Energy Glossary. |
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Explanatory Notes |
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