bbl: barrels of oil
bbl/d: barrels per day
bbo: billion barrels of oil
bboe: billion barrels of oil equivalent (refers to crude oil and natural gas. The measurement of gas in the unit of barrel is based on the approximate energy released by burning one barrel of crude oil.)
bcm: billion cubic meters
bscf: billion standard cubic feet of gas
E&P: exploration and production
IOC: international oil company
LNG: liquified natural gas
mmbo: million barrels of oil
mmboe: million barrels of oil equivalent
mmbTU: million British thermal units
mscf: million standard cubic feet
mscf/d: million standard cubic feet per day
mt/y: million metric tonnes per year
NGO: non-governmental organization
NOC: national oil company
pb: per barrel
toe: tonnes of oil equivalent
tcf: trillion cubic feet
downstream = refining and petrochemicals industries
midstream = storage and transportation; pipelines
upstream = exploration and production
*Unless otherwise noted, all dollar amounts listed throughout the manuscript are in USD.