Naphtha straight run gasoline fraction often used as

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Naphtha straight-run gasoline fraction, often used as a petro- chemical feedstock or blended further/mixed with other materials to make high-grade motor gasoline or jet fuel. National Energy Board the Canadian regulatory body which oversees inter- provincial natural gas trade and pipelines. Located in Calgary, alberta. Natural Gas naturally occurring gas, predominantly methane, but usually contains some proportions of ethane, propane and butane. NERC north american Electric reliability Corporation. a nonprofit corporation formed in 2006 established to develop and maintain mandatory reliability standards for the bulk electric system, with the fundamental goal of maintaining and improving the reliability of that system. nErC consists of regional reliability entities covering the interconnected power regions of the contiguous United states, Canada, and Mexico. NGL natural gas liquids. Can include ethane, propane, butane, isobutane and natural gasoline/condensate. not to be confused with LnG, liquefied natural gas. LnG is arti- ficially liquefied methane, not the heavier fractions defined as nGLs. NOC national oil Company. NWE oil and petrochemicals market abbreviation for north- west Europe. NYH new york Harbor—the delivery point for the nyMEX gasoline and heating oil contracts. NYMEX new york Mercantile Exchange. also known in the energy industry as “the ny Merc.” O Offer an indication of willingness to sell a specified amount of a commodity at a specific price. Off-Peak Demand the time of the day when a power system would experience its lightest load. OPEC the organization of the Petroleum Exporting Coun- tries. Group of crude-producing countries which has used its collective weight of production since oPEC was founded in 1960 in an attempt to influence oil prices. Member countries include: algeria, Indonesia, Iran, Iraq, kuwait, Libya, nigeria, Qatar, saudi arabia, UaE, Venezuela. Open Interest open interest is the number of open contracts on a given future or options contract. Longs or shorts that have not been closed out are oI. short-covering/ profit-taking will tend to reduce oI. Options a contract under which the writer of the option gives someone the right but not the obligation to buy or sell an underlying commodity. options can be over-the- counter or exchange-traded. OPIS oil Price Information service. Out of the Money Option (OTM) an option with an exercise prices lower than the cur rent market level of the underlying instrument. such an option has no intrinsic value, but does have time value, as price changes in the underlying might bring it back into the money. Over the Counter (OTC) Bilateral markets in which contracts for futures, op- tions and swaps are written on a tailor-made basis. P PADD Petroleum allocation for Defense District. a group of five geographic areas in the Us used in reference to petroleum distribution.
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- 9 - Peak Demand Regulatory Risk Peak Demand the maximum load during a specified period of time.
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