Nautical Terms
This refers to the amount of product left on a barge or vessel after discharge.
What is Remaining On Board or ROB?
On this measurement scale, water has a value of 10.
What is API gravity?
At PBF, this process is performed on all purchases & sales at or above 25,000 bbls or $3 million in value.
What is invoice validation?
This represents 1,000 bbls on the NYMEX.
What is a lot?
On this date, PBF purchased the Torrance refinery from ExxonMobil.
What is July 1, 2016?
This is referred to as the distance from the waterline to the bottom of the barge or vessel.
What is draft?
This property of a liquid refers to its resistance to flow.
What is viscosity?
This set of guidelines for PBF specifies the limits for such activities as trading and approval of invoices.
What is the Delegation of Authority Guidelines or DOAG?
This is the measurement of the amount of space above the liquid level in a tank.
What is ullage?
One this date, PBF purchased the Chalmette refinery from ExxonMobil.
What is November 1, 2015?
This is the act of offloading product from one vessel to another to reduce the draft of the first vessel.
What is lightering?
This refers to products that meet the same quality requirements and therefore can be mixed or comingled.
What is fungible?
This agency was established in the 1990's when California opted out of the EPA's Reformulated Gasoline Program.
What is the California Air Resources Board or CARB?
This unit of measurement represents 2,000 lbs.
What is a short ton?
On this date, PBF began using RightAngle (SRA) as its primary accounting system for hydrocarbons.
What is March 1, 2012?
This is the largest class of crude vessels.
What is Ultra Large Crude Carrier or ULCC?
This is the maximum amount of sulfur currently allowed in ultra low sulfur diesel (ULSD) in the US, measured in parts per million (ppm).
What is 15 ppm?
This document is produced to provide title or custody between parties.
What is product transfer document or PTD?
This refers to the volume of a gasoline or diesel product corrected to 60 deg F.
What is net volume?
On this date, PBF began its arrangement with J Aron for inventories at Del City and Paulsboro.
What is July 2, 2013?
This is the nautical term for the left side of the ship.
What is port?
In most states this is the highest percentage of biodiesel allowed to be added into ULSD before having to declare the finished product a biodiesel.
What is 4.99%
This bill enacted in 2002 as the Corporate and Auditing Accountability and Responsibility Act, in response to the failures of companies like Enron and Worldcom.
What is Sarbanes-Oxley or SOX?
This represents the weight of an empty truck on a weigh scale.
What is tare weight?
On this date, Dave Quackenbush, Director of Volumetric Accounting, began his career at PBF.
What is August 15, 2011?