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
