The definitive guide for anyone working in the oil business. Based on his 30 years’ experience of working in oil logistics, storage, operations and oil trading, Stefan van Woenzel has compiled a comprehensive dictionary of oil terms and jargon. This third, updated edition contains more than 2,000 terms, definitions, abbreviations and phrases that are used every day by oil traders and those working in the industry. Use it as a reference book to help make sense of the jargon encountered in oil trading and enjoy better communication and understanding in your oil discussions and work. “Everyone involved in buying, selling, shipping, storing or distribution of oil, should have this book on their bookshelf.” – arend van campen ma, Author of: ‘Toxic Tanker and Safety of Ethics’
About the Author
I worked from 1989 to 1998 (ten years) in oil logistics at Van Ommeren (Vopak) in Rotterdam. Since 1999, I am working at Statoil in Norway. I did gasoline trading from 1999 until 2005, heavy fuel oil trading from 2006 until 2008, crude oil trading from 2009 until 2010, and today I am active in crude business development/origination. I have always been a curious person wanting to know and to learn as much as I can. Since I started working in the oil business, I have never been able to find a good glossary, which is related to the oil trading and logistic activity. I give trading courses in Statoil, and I always take time to share competence. But I am also open for the opinions of others as well and learn to improve. I was born and raised in Rotterdam, one of the biggest ports in the world. A place where people do not complain and work hard. I always say: “I am a 100 percent Rotterdamer. Now I live in Stavanger, Norway. Living in Norway is fantastic. I learned here how important the quality of life is. Me and my family are really enjoying life in a safe, clean country with mountains, fjords, skiing opportunities, fishing and grilling opportunities. Also the working environment in Norway is perfect. Although I do not have a master degree in trading, I enjoyed the opportunity to make time available for writing a book related to my working environment. And I hope that all the people having a job related to the commercial and logistic side of the oil business can benefit from what I have written. Our oil trading jargon is explained according to my interpretation.