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.
AGM - Annual General Meeting
AFS – Audited Financial Statement
ASR – Annual Sustainability Report
b/d - barrels per day
bbl - barrel
boe(/d) - barrels of oil equivalent (per day)
CapEx – capital expenditure
CFFO – cash flow from operations
CO2 - carbon dioxide
COSA – cost of sales adjustment
E&C –Ethics & Compliance
FCF – free cash flow
GHG - greenhouse gas
GRM – gross refining margin
GTL - gas to liquids
HSE - health, safety and environment
HSC – Helix Service Centers
HSSE - health, safety, security and environment
IFRS - International Financial Reporting Standards
LNG - liquefied natural gas
LPG - liquefied petroleum gas
mtpa - million tonnes per annum
ML – million liters
MW – megawatts
NIAT – net income after tax
NGL - natural gas liquids
NMIF – North Mindanao Import Facility
NGO - non-governmental organisation
OPEC - Organization of the Petroleum Exporting Countries
OpEx – operating expense
PSFI – Pilipinas Shell Foundation, Inc.
PSPC – Pilipinas Shell Petroleum Corporation
ROACE – return on average capital employed
R&D - research and development
scf - standard cubic feet
SDG – UN Sustainable Development Goals
SHOC+ - Shell Helix Oil Change +
TRCF - total recordable case frequency
WTI - West Texas Intermediate
More in About us
Who we are
Learn about our business and people, which grew from a small presence over 100 years ago to become a major energy company 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.