Before depreciation and amortization, excluding one-off items and the LIFO effect (the difference arising from the application of the Last In First Out (LIFO) method and the weighted average cost method to account for inventory flows).
(EFRA Project, standing for ‘Effective Refining’) – capital investment project to build a delayed coking unit (DCU), completed by LOTOS in 2019, for more advanced crude oil conversion into lighter distillates. In addition to the DCU, a number of auxiliary facilities were built: a hydrogen generation unit (HGU), a coker naphta hydrotreating unit (CNHT), an LPG treating unit (LPGTU), coke storage and loading facilities (CS-LF) as well as a hydrowax vacuum distillation unit (HVDU). The project’s value totalled over PLN 2.3bn.
– Ethyl Tert-Butyl Ether. A high-octane biocomponent for the production of gasoline. It is produced using ethanol and isobutylene
Ethyl alcohol used e.g. as a biocomponent for producing fuels and biofuels used in cars with ignition engines.
European Chemical Agency
The EC agency responsible for the implementation of the REACH (Registration, Evaluation and Authorisation of Chemicals) Regulation as regards the establishment and administration of a registration system, assessment of, issuance of authorisations for, and imposition of restrictions in the use of, chemical substances at the EU level. Its main task is to manage the database of chemicals submitted for registration: initial registration of a substance (the process already completed) and proper registration of a substance. Under the European Council’s decision of 2004, the registered office of the European Chemicals Agency (ECHA) is located in Helsinki, Finland.
(Enterprise Value). Market capitalisation plus debt, non-controlling interests, and preferred shares, less cash and cash equivalents.