Glossary
On this page explanations of terms and abbreviations used on this website and across the oil & gas industry. Pilipinas Shell-specific terms are also added for your reference.
AFS – Audited Financial Statement
AGM - Annual General Meeting
ASR – Annual and Sustainability Report
BARC – Board Audit and Risk Oversight Committee
b/d - barrels per day
bbl - barrel
boe(/d) - barrels of oil equivalent (per day)
CAA Charter – Corporate Audit and Assurance Charter
CAAD – Corporate Audit and Assurance Department
CapEx – capital expenditure
CFFO – cash flow from operations
CFM – Community Feedback Mechanism
CG – Corporate Governance
CG Committee – Corporate Governance Committee
CO2 - carbon dioxide
COSA – cost of sales adjustment
E&C –Ethics & Compliance
ECC – Environmental Compliance Certificate
FCF – free cash flow
FIFO – First-In, First-Out
GDP – Gross Domestic Product
GHG - greenhouse gas
GRI – Group Reporting Initiative
GRM – gross refining margin
GTL - gas to liquids
HSC – Helix Service Centers
HSE - health, safety and environment
HSSE - health, safety, security and environment
IFRS - International Financial Reporting Standards
IMO – International Maritime Organization
LNG - liquefied natural gas
LPG - liquefied petroleum gas
ML – million liters
mtpa - million tonnes per annum
MW – megawatts
NFR – Non-Fuels Retailing
NGL - natural gas liquids
NGO - non-governmental organisation
NIAT – net income after tax
NMIF – North Mindanao Import Facility
NTR – Non-Technical Risks
OPEC - Organization of the Petroleum Exporting Countries
OpEx – operating expense
PSE – Philippine Stock Exchange
PSFI – Pilipinas Shell Foundation, Inc.
PSPC – Pilipinas Shell Petroleum Corporation
R&D - research and development
RDE – Royal Dutch Shell
ROACE – return on average capital employed
RPT – Related Party Transactions
RPT Committee – Related Party Transactions Committee
scf - standard cubic feet
SciP – Shell companies in the Philippines
SDG – UN Sustainable Development Goals
SEC – Philippine Securities and Exchange Commission
SHOC+ - Shell Helix Oil Change +
SHOW – Shell Operated Webcast
TRCF - total recordable case frequency
WCF – Wholesale Commercial Fuels
WTI - West Texas Intermediate
More in About us
Who we are
Shell Pilipinas Corporation traces its roots to Asiatic Petroleum Company (Philippine Islands) Ltd. In the Philippines back since 1914, and has grown to become one of the leading oil refining and marketing businesses in the Philippines.
What we do
We are an integrated energy company that aims to meet society’s growing demand for energy in ways that are economically, environmentally and socially responsible.