| In Situ |
| Literally meaning "in place", this phrase refers to recovery techniques applicable in heavy oil and oil sands formations without removing conglomerates from the location. |
| |
| In Situ Recovery |
| The process of recovering crude bitumen from oil sands other than by surface mining. |
| |
| Independent |
| The term generally applied to a non integrated oil company, usually active in only one or two sectors of the industry. An independent marketer, for example, buys product from major or independent refiners and resells it under its own brand name (such marketing is also called "unbranded"). While the term is often taken to mean an unbranded marketer, there are also companies active in refining or crude production exclusively and not controlled by major oil companies. These are also properly termed independents. |
| |
| Infill Drilling |
| Drilling of a well between known producing wells to better exploit the reservoir. |
| |
| Initial Established Reserves |
| Established reserves prior to the deduction of any production. |
| |
| Injection Well |
| A well used for pumping water or gas into the reservoir to increase pressure and allow recovery of more crude oil. This is usually done when the crude oil is in an older well and there is no longer sufficient pressure to bring up the oil. |
| |
| Integration |
| A term referring to the degree to which a given company participates in all phases of the petroleum industry. An oil company is considered fully integrated, for example, when it handles its own oil from the well head to the retail gasoline pump. Such a company would be active in exploration, crude oil production, transportation, refining and marketing - all under its brand name. This is known as "vertical integration." By comparison, "horizontal integration" refers to the degree to which a company participates in diversified interests other than its principal business. In the energy field, the term applies to those companies which, in addition to oil activities, have substantial positions in coal, uranium, geothermal energy, etc. |
| |
| Interconnection Agreement |
| An agreement made between two power utilities to govern the operation of interconnections between their systems. Typically such an agreement defines different classes of inter-utility transfers and specifies how they shall be priced between two companies. |
| |
| International Crude Oil Price |
| A generalization for the "going" price of crude oil in world markets. |
| |
| Interruptible Power |
| Electric Power and/or energy made available under and agreement that permits curtailment or cessation of availability at the option of the supplier. |
| |
| Inventory Turnover |
| Total sales divided by average inventory. Indicates how quickly inventory is sold in a year. A very low inventory turnover results whn a company is tying up its capital in nonproductive assets. |
| |
| Irradiated Fuel |
| Reactor fuel which has been involved in a chain reaction and has thereby accumulated fission "irradiated" means exposed to radiation. |
| |
| Isotope |
| One of perhaps several different species of a given chemical element, distinguished by variations in the number of neutrons in the atomic nucleus but indistinguishable by chemical means. |
P.O.S.T. Report
