Profit and Loss Statement also called An Income Statement, is a financial statement for companies that indicates how net revenue (money received from the sale of products and services before expenses are taken out, also known as the "top line") is transformed into net income (the result after all revenues and expenses have been accounted for, also known as the "bottom line"). The purpose of the income statement is to show managers and investors whether the company made or lost money during the period being reported. In reference to charitable organizations, an income statement is called a Statement of Activities and Changes in Net Assets.



Par Of Exchange

The precise equivalency of a given sum of money of one country with the like sum of money of another country into which it is to be exchanged.

Particulate matters

Very small pieces of solid or liquid matter such as particles of soot, dust, fumes, mists or aerosols. The physical characteristics of particles, and how they combine with other particles, are part of the feedback mechanisms of the atmosphere.


Profit Before Tax. A profitability measure that looks at a company’s profits before the company has to pay corporate income tax. This measure deducts all expenses from revenue including interest expenses and operating expenses, but it leaves out the payment of tax. Also referred to as “earnings before tax “.


Price to Earnings. Current share price divided by Adj. EPS. A familiar valuation multiple for which data is readily available but which is subject to accounting differences and is affected by differences in capital structure.

Perpetuity Growth Rate

Estimated growth rate of a metric after the end of the valuation period. 
Perpetuity Value = ( CFn x (1 + g) ) / (R - g)
CFn = Cash Flow in the Last Individual Year Estimated
g = Long-Term Growth Rate
R = Discount Rate or Cost of Capital


Petroleum (Latin Petroleum derived from Greek πέτρα (Latin petra) - rock + έλαιον (Latin oleum) - oil) or Crude Oil is a naturally occurring liquid found in formations in the Earth consisting of a complex mixture of hydrocarbons (mostly alkanes) of various lengths. The approximate length range is C5H12 to C18H38. Any shorter hydrocarbons are considered natural gas or natural gas liquids, while long-chain hydrocarbons are more viscous, and the longest chains are paraffin wax. In its naturally occurring form, it may contain other nonmetallic elements such as sulfur, oxygen and nitrogen. It is usually black or dark brown (although it may be yellowish or even greenish) but varies greatly in appearance, depending on its composition.


A Romanian oil company, the largest corporation in Romania and the largest gas and oil producer in Eastern Europe. In late 2004, Petrom was privatized by the Romanian state and sold to Austrian oil company OMV. As of 2005, it was the largest privatization deal in Romania's history. OMV controls 51% of Petrom's shares. The other shareholders are the Romanian state (40.74%), EBRD (2.03%), and others (6.23%).Apart from its operations in Romania, the company operates in Bulgaria, Serbia, Hungary, Moldova, Kazakhstan, Iran and Russia. In Moldova it operates 73 filling stations, being one of the leading oil companies, alongside Lukoil. In Hungary there are 2 Petrom filling stations. In January 2006, Petrom purchased OMV's operations in Romania, Bulgaria and Serbia and Montenegro.

Platt’s Oilgram

Internationally accepted fuels price assessment and report, in USD/MT, serving as benchmark for relevant transactions.  Platts traces its history as far back as 1882, with the publication by a Mr. N. Hawkins of “Steam” magazine (which a year later became “Power” magazine and, as of 2001, was still published by Platts). The company however is named after William C. Platts, a reporter who in 1909, with the motivation to ensure that the voice of independent oil men could be heard, began publishing a monthly news magazine called National Petroleum News.


Parts Per Million. Unit expressing content, equal to 1/1.000.000. 1 ppm = 1/10.000 % units


It is a three-carbon alkane, normally a gas, but compressible to a liquid that is transportable. It is derived from other petroleum products during oil or natural gas processing. It is commonly used as a fuel for engines, barbecues, and home heating systems.

Prospective net debt/(cash)

All interest-bearing debt finance (long term and short term) less cash and cash equivalents. Calculated from the first year forecast balance sheet.


All other liabilities except those included in net working capital and net debt. This line includes unfunded pension provisions, deferred tax and other items reported as provisions in the balance sheet.


Petrol Station