The Explainers

In the interest of upping your insights on Nigeria's Oil & Gas, below are explainers to acronyms in the sector.

Please enjoy...

AF – Alternative Funding

AGO – Automotive Gas Oil

ATK – Aviation Turbine Kerosene

B/L – Bill of Lading

BBLS – Barrels

CCU – Crude Catalytic Cracking Unit

DPK – Dual Purpose Kerosene

DPR – Department of Petroleum Resources

DSDP – Direct Sales Direct Purchase

EGTL – Escravos Gas to Liquid

FCCU – Fluid Catalytic Cracking Unit

FPSO – Floating, Production, Storage, Offloading

FSO  –  Floating Storage offloading

IOC – International Oil Companies

JV – Joint Ventures

LPG – Liquefied Petroleum Gas

LPFO – Low Pour Fuel Oil

LNG – Liquefied Natural Gas

MMBTU – Million British Thermal Unit

MT – Metric Tones

NGL – Natural Gas Liquids

OML – Oil Mining Lease

OPEC – Organisation of Petroleum Export Countries

OPA – Offshore Processing Agreement

OPL – Oil Prospecting License

PMS – Premium Motor Spirit

PPMC – Pipelines and Products Marketing Company

PPT – Petroleum Profit Task

PSC – Production Sharing Contract

PTD – Petroleum Tankers Drivers Union

QIT – Qua Iboe Terminal