Glossary of Terms – Petroleum

Cargo Calculations

Gross Observed Volume (GOV):  The total volume of all petroleum liquids and
sediment and water, excluding free water, at observed temperature and pressure.

Gross Standard Volume (GSV):  The total volume of all petroleum liquids and
sediment and water, excluding free water, corrected by the appropriate volume
correction factor (VCF) for the observed temperature and API gravity, relative density,
or density to a standard temperature such as 60°F or 15°C and also corrected by the
applicable pressure correction factor and meter factor.

Relative Density: It is defined as the ratio of the density of a given substance with
respect to the density of a given reference material whose density is already known.If
we consider Relative density with respect to water then it is termed as Specific gravity.

Weight Correction Factor (WCF): the numerical value determined by laboratory

analysis or by standardised computer arithmetic that when multiplied by the Gross
Standard Volume results in the weight of the product. The factors applicable for bands
of API (relative density) are available in standard tables booklets or may be computed
using a standardised format.

Density at 15 C in air = Density at 15 C in vacuum – 0.0011

Volume Correction Factor (VCF): the numerical value determined by laboratory

analysis or by standardised computer arithmetic that when multiplied by the Gross
Observed Volume at tank temperature results in the volume of the product at its
standard temperature (15C or 60F). The factors applicable for bands of API (relative
density) and temperature are available in standard tables booklets or may be computed
using a standardised format.  If the VCF is below 1 it is shown accurate to 5 places of
decimal otherwise, it is shown in 4 places of decimal.

Net Standard Volume (NSV): The total volume of all petroleum liquids, excluding
sediment and water and free water, corrected by the appropriate volume correction
factor (VCF) for the observed temperature and API Gravity, relative density, or density
to a standard temperature such as 60°F or 15°C and also corrected by the applicable
pressure correction factor and meter factor.

Net Standard Weight (NSW): The total weight of all petroleum liquids, excluding
sediment and water and free water, determined by deducting the S&W weight from the
Gross Standard Weight (GSW).

OBQ (On Board Quantity): The material remaining in vessel tanks, void spaces, and/or
pipelines prior to loading. On-board quantity includes water, oil, slops, oil residue,
oil/water emulsions, sludge, and sediment.

ROB (Remain on Board): The material remaining in vessel tanks, void spaces, and/or
pipelines after discharge. Remaining on board quantity includes water, oil, slops, oil
residue, oil/water emulsions, sludge, and sediment.

Clingage- Oil residues which adhere to the surface of tank walls and structures on
completion or discharge.
Critical zone- The volume close to the bottom or a floating roof tank in which there are
complex interactions and buoyancy effects as the floating roof comes to rest on its legs.
The zone is usually clearly marked on tank calibration tables and measurements for
custody transfer should not be made within it.

In-transit loss- The difference between the Total Calculated Volume on board a vessel
after loading and the Total Calculated Volume on board before discharge.

Load on top (LOT)– The procedure of commingling the recovered oil slops with the
next cargo by loading the cargo on top of the slops.

Meter factor- The ratio of the actual volume of liquid passed through a meter to the volume
indicated by the meter.

Meter K-factor- The number of pulses emitted by a meter whilst unit volume is

delivered (usually expressed in pulses/m3).

Outturn- The quantity of material discharged from a vessel, measured by a shore

terminal.

Outturn Certificate- A statement issued by a receiving terminal and/or cargo surveyor

certifying the outturn.

Outturn Loss- The difference in Net Standard Volume of oil between the quantity
shown on the Bill of Lading and the quantity shown on the Outturn Certificate. The
adjusted loss is the Outturn Loss corrected for the difference between the OBQ and the
ROB. where applicable.

Sediment- Suspended Sediment: Non-hydrocarbon solids present within the oil but not
in solution.

Bottom Sediment: Non-hydrocarbon solids present in a tank as a separate layer at the

bottom.

Total Sediment: The sum of the suspended and bottom sediment.

Slops- Material collected after such operations as stripping. tank washing or dirty

ballast separation. It may include oil, water, sediment and emulsions, and is usually
contained in a tank or tanks permanently assigned to hold such material.

Dissolved Water: The water contained within the oil forming a solution at the prevailing
temperature.

Suspended Water: The water within the oil which is . finely dispersed as small droplets.

Note: It may, over a period or time, either collect as free water or become dissolved
water depending on the conditions or temperature and pressure prevailing.
Free Water: The water that exists in a separate layer. (It typically lies beneath the oil.)

Total Water: The sum of all the dissolved, suspended and free water in a cargo or
parcel of oil.

Water cut or dip:  The measured depth of free water.

Wedge formula: An equation relating the volume of liquid material in a ship’s tank to
the dip, ship’s trim, dipping point location and the tank’s dimensions when the ship’s
calibration tables cannot be applied. To derive the equation, assumptions have to be
made. The major assumption in the derivation is that the material is free flowing and
will  accumulate in the aft end of a tank when the ship is trimmed by the stern.

Weigh conversion factor- A factor dependent on the density for converting volume to
weight-in-air. Such factors shall be obtained from the API-ASTM-IP Petroleum
Measurement Tables.