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PETROLEUM INDUSTRY GLOSSARY
U
Upgrading
The physical process of ‘improving’ or changing a poor quality product/feedstock into a better quality product.
Catalytic cracking is a process whereby a vacuum gasoil or a heavy distillate feedstock is converted, by the action of heat and catalyst, into lighter and more valuable products.
Upstream
An industry term, referring to crude oil production. See also Downstream.
Ullage
The amount (normally expressed in tons) of useable tankages space (either shore or ship tank) that is available at a given time in relation to receiving more hydrocarbon.