Glossary of Industry Terms
A light fraction of crude oil used to make gasoline.
National Energy Board ( NEB )
The federal regulatory agency in Canada that authorizes oil, natural gas, and electricity exports; certifies interprovincial and international pipelines, and designated interprovincial and international power lines; and sets tolls and tariffs for oil and gas pipelines under federal jurisdiction.
Natural GasGaseous petroleum consisting primarily of methane with lesser amounts of (in order of abundance) ethane, propane, butane and pentane, and heavier hydrocarbons as well as non-energy components such as nitrogen, carbon dioxide, hydrogen sulphide and water.
Natural Gas Liquids ( NGLs )
Liquids obtained during production of natural gas, comprising ethane, propane, butane and condensate.
Nitrous Oxide ( N20 )
A very potent greenhouse gas which has a large number of natural sources and is a secondary product of the burning of organic material and fossil fuels.
Non-Associated GasNatural gas that is produced from reservoirs that contain only natural gas and therefore, not associated with crude oil production.
Non-Conventional Crude Oil
Heavy crude oil that is too thick to flow in its natural state and cannot be produced by conventional means, but must be heated or diluted first. Examples are: oil sands bitumen. More commonly known as unconventional crude.
Natural resources that cannot be replaced after they have been consumed. The term applies particularly to fossil fuels such as coal, oil and natural gas, but also applies to other mineral resources found in the Earth's crust.
North Sea BrentA benchmark crude oil produced in the North Sea which is used as a reference for the pricing other crude oils.