HollyFrontier 2013 Annual Report Download - page 13

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5
“Natural gasoline” means a low octane gasoline blend stock that is purchased and used to blend with other high octane
stocks produced to make various grades of gasoline.
“Paraffinic oil” is a high paraffinic, high gravity oil produced by extracting aromatic oils and waxes from gas oil and is
used in producing high-grade lubricating oils.
“Refinery gross margin” means the difference between average net sales price and average product costs per produced
barrel of refined products sold. This does not include the associated depreciation and amortization costs.
“Reforming” means the process of converting gasoline type molecules into aromatic, higher octane gasoline blend stocks
while producing hydrogen in the process.
“Roofing flux” is produced from the bottom cut of crude oil and is the base oil used to make roofing shingles for the housing
industry.
“ROSE,” or “Solvent deasphalter / residuum oil supercritical extraction,” means a refinery unit that uses a light
hydrocarbon like propane or butane to extract non-asphaltene heavy oils from asphalt or atmospheric reduced crude. These
deasphalted oils are then further converted to gasoline and diesel in the FCC process. The remaining asphaltenes are either sold,
blended to fuel oil or blended with other asphalt as a hardener.
“Scanfiner” is a refinery unit that removes sulfur from gasoline to produce low sulfur gasoline blendstock.
“Sour crude oil” means crude oil containing quantities of sulfur greater than 0.4 percent by weight, while “sweet crude
oil” means crude oil containing quantities of sulfur equal to or less than 0.4 percent by weight.
“Vacuum distillation” means the process of distilling vapor from liquid crudes, usually by heating, and condensing the
vapor below atmospheric pressure turning it back to a liquid in order to purify, fractionate or form the desired products.
“WCS” means Western Canada Select crude oil and is made up of Canadian heavy conventional and bitumen crude oils
blended with sweet synthetic and condensate diluents.
“WTI” means West Texas Intermediate and is a grade of crude oil used as a common benchmark in oil pricing. WTI is a
sweet crude oil and has a relatively low density.
“WTS” means West Texas Sour, a medium sour crude oil.
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