Glossary

A

ADR
American Depository Receipt
APG
Associated petroleum gas
ASP (technology)
A method for increasing oil recovery based on the idea of injecting a mixture consisting of anionic surfactant, soda and polymer into the reservoir

B

BANK OF RUSSIA
Central Bank of the Russian Federation

C

CD
Civil defence
CGS
Central gathering station (oil treatment)
CGTP
Complex gas treatment plant
CIS
Commonwealth of Independent States – former republics of the USSR, except Latvia, Lithuania, Georgia and Estonia
COGTS
Central oil gathering and treatment station
CNG
Compressed natural gas

D

D&O
Directors and Officers Liability Insurance
DOWNSTREAM
Logistics, Processing and Sales Unit

E

EBIT
Earnings before interest, taxes, depreciation and amortisation
EBITDA
Earnings before
ECA
Export Credit Agency
EMS
Energy management system

G

GDP
Gross domestic product

H

HC
Hockey club
HSE
Health, Safety and Environment
HTRR
Hard-to-recover reserves

I

IEA
International Energy Agency
IFRS
International Financial Reporting Standards
IRMS (STANDARD)
Integrated Risk Management System standard

J

JSC
Joint-stock company

K

KMAD
Khanty-Mansi Autonomous District
KPI
Key performance indicator

L

LIBOR
London Interbank Offered Rate
LPG
Liquefied petroleum gases
LTIF
Lost Time Injury Frequency

M

MD&A
Management’s Discussion and Analysis of Financial Condition and Results of Operations
MET
Mineral extraction tax
MICEX
Moscow Interbank Currency Exchange or Moscow Exchange

N

NIS
Naftna Industrija Srbije А.D., Novi Sad
NP
Non-profit partnership

O

OC
Oil company
OECD
Organisation for Economic Cooperation and Development
OE
Oil equivalent
OGCF
Oil and gas condensate field
OJSC
Open joint-stock company
OPEC
Organisation of the Petroleum Exporting Countries
OS
Occupational safety

P

PJSC
Public joint-stock company
PMB
Polymer-modified bitumen
P.P.
Percentage points
PRMS-SPE
Petroleum Resources Management System developed by the Society of Petroleum Engineers. The system not only takes into account the ability to detect oil and gas, but also the cost-effectiveness of hydrocarbon recovery. Reserves are assessed based on three categories: proved, probable, possible

R

RAS
Russian Accounting Standards
RLC
Regional licensing commission
ROACE
Return on Average Capital Employed
R&D
Research and development

S

SAR
Stock Appreciation Rights
SAS
Surface active substances
SEC
U.S. Securities and Exchange Commission
S&A
Subsidiaries and affiliates

U

UPSTREAM
Exploration and Production Unit
US GAAP
United States Generally Accepted Accounting Principles
USA
United States of America

V

VAT
Value-added tax
VIOC
Vertically integrated oil company
VMI
Voluntary medical insurance

Y

YANOS
Yaroslavnefteorgsintez (Slavneft- Yaroslavnefteorgsintez, Slavneft-YANOS) –Yaroslavl Oil Refinery
YNAD
Yamalo-Nenets Autonomous District