V

Vacuum distillation
Distillation under reduced pressure (less than atmospheric) which lowers the boilign points of the liquid mixture being distilled. This technique, involving a relatively lower temperature, prevents cracking or decomposition of the very heavy hydrocarbon stocks which normally boil at very high temperatures.

Vacuum gas oil (VGO) 
The top product of the vacuum distillation unit.

Vacuum gas oil mild hydrocracker
A unit processing vacuum gas oil at moderate temperatures and pressures over a fixed catalyst bed in which the vacuum gas oil is partially cracked in a hydrogen atmosphere in order to produce lighter products (mainly naphtha, kerosene, distillates and oils). At the same time sulphur, nitrogen and oxygen are almost completely removed and olefins are saturated so that products are a mixture of essentially pure paraffins, naphthenes and aromatics.

Values
Phillips' values are: Safety, trust, respect, diversity, opportunity for everyone, teamwork, open and honest communications, creativity, ethical conduct, community involvement and environmental stewardship.

VCM
Vinyl chloride monomer. Feedstock used in the manufacture of PVC.

Viscosity
A measure of the resistance that a fluid makes to motion or flow; it usually decreases as the temperature increases.

Visbreaker
A process unit whereby residue feedstock (e.g., vacuum gas oil and straight rum atmospheric residue) is heated until it reaches a temperature at which it thermally cracks with a consequent reduction in viscosity and pour point (producing gas, gasoline and gas oil).