Glossary

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 Unbranded fuel

Retail fuel not sold under a major brand name. Typically sold by an independent marketer under the marketers private label or with no name attached.

 Underlying Ground Lease

While the 3 year oil company is typically treated as a long term lease, because of the provisions in the PMPA, if the oil company does not own the land, a buyer must look to who owns the land and what the terms of the underlying ground lease are. The oil company may have only 5 years left on their land and therefore, have no obligation to the dealer beyond that 5 years.

 Upstream Operations

Operations concerned with oil exploration and production

 UST

Underground Storage Tanks. Term is frequently used in environmental protection.