C1 and C3 heavy fuel oils
C1 heavy fuel oil is a mixture of heavy and light components obtained by way of secondary and straight-run processing of crude oil. C1 heavy fuel oil is burned in central heating boilers, steam generators, industrial furnaces and used in industrial processes. C3 heavy fuel oil is a mixture of hydrocarbons obtained through straight-run and secondary refining of crude oil. It is burned in central heating boilers, steam generators, industrial furnaces and used in industrial processes.
CAPEX
increase of property, plant and equipment, intangible assets, investment property and perpetual usufruct of land together with the capitalisation of borrowing costs.
Catalyst
substance, which accelerates (initiates) the expected chemical reaction.
Catalyst market
the bond market of the Warsaw Stock Exchange operated on the WSE and BondSpot trading platforms.
CEE
Central and Eastern Europe.
CCGT plant in Płock
a 600 MWe Combined Cycle Gas Turbine plant to be constructed in Płock. A key part of the project will be deployment of an advanced gas turbine technology with one of the highest efficiency ratings available on the market (H-Class).
Chemical Oxygen Demand (COD)
a conventional measure indicating the quantity of oxygen (expressed in mg/L) consumed from the oxidising agent (potassium dichromate, K2Cr2O7) during the oxidation of organic and some inorganic (e.g. sulfites, sulfides, iron (II), ammonia) compounds found in wastewater to the highest level of oxidation possible under given conditions. COD is used as a measure of water and wastewater pollution.
CO2 emission allowances
property rights recognised as intangible assets, which are not subject to amortisation (due to high residual value) but are tested for impairment
CODO/COCO
fuel station owned by the Company, operated by agent (Company Owned Dealer Operated) / fuel station owned and operated by the Company (Company Owned Company Operated).
CONCAWE
an association established by a group of leading oil companies to carry out research on environmental issues relevant to the oil industry. CONCAWE’s activities cover fuels quality and emissions, air quality, water quality, soil contamination, waste, occupational health and safety, and petroleum product stewardship (www.concawe.eu).
Cracking
thermal or catalytic conversion of heavy or more complex hydrocarbons into light products and coke. which increases the yields of light products from crude oil.
Credit rating
an evaluation of an entity’s relative ability to meet its financial obligations, including the payment of interest and preferred dividends, repayment of principal, satisfaction of insurance claims, and performance of obligations towards trading partners. Credit ratings enable investors to assess the likelihood of receiving returns due on their investments.
CSR
corporate social responsibility is understood as a management strategy and approach to business which aims to build positive long-term relations rooted in mutual understanding of expectations and respect towards the broad business environment.
Current liquidity
current assets/short-term liabilities.