Glossary

Abbreviation Definition
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
BANK OF RUSSIA
Central Bank of the Russian Federation
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&O
Directors and Officers Liability Insurance
DOWNSTREAM
Logistics, Processing and Sales Unit
EBIT
Earnings before interest, taxes, depreciation and amortisation
EBITDA
Earnings before
ECA
Export Credit Agency
EMS
Energy management system
GDP
Gross domestic product
HC
Hockey club
HSE
Health, Safety and Environment
HTRR
Hard-to-recover reserves
IEA
International Energy Agency
IFRS
International Financial Reporting Standards
IRMS (STANDARD)
Integrated Risk Management System standard
JSC
Joint-stock company
KMAD
Khanty-Mansi Autonomous District
KPI
Key performance indicator
LIBOR
London Interbank Offered Rate
LPG
Liquefied petroleum gases
LTIF
Lost Time Injury Frequency
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
NIS
Naftna Industrija Srbije А.D., Novi Sad
NP
Non-profit partnership
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
PJSC
Public joint-stock company
PMB
Polymer-modified bitumen
P.P.
Percentage points
RAS
Russian Accounting Standards
RLC
Regional licensing commission
ROACE
Return on Average Capital Employed
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&D
Research and development
SAR
Stock Appreciation Rights
SAS
Surface active substances
SEC
U.S. Securities and Exchange Commission
S&A
Subsidiaries and affiliates
UPSTREAM
Exploration and Production Unit
US GAAP
United States Generally Accepted Accounting Principles
USA
United States of America
VAT
Value-added tax
VIOC
Vertically integrated oil company
VMI
Voluntary medical insurance
YANOS
Yaroslavnefteorgsintez (Slavneft- Yaroslavnefteorgsintez, Slavneft-YANOS) –Yaroslavl Oil Refinery
YNAD
Yamalo-Nenets Autonomous District