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Metric regions commonly use the tonne of oil equivalent (toe), or more often million toe (Mtoe). Since this is a measurement of mass, any conversion to barrels of oil equivalent depends on the density of the oil in question, as well as the energy content. Typically 1 tonne of oil has a volume of 1.08 to 1.19 cubic metres (6.8 to 7.5 bbl).
Due to the risk of confusion with the SI convention where the "M" prefix stands for "mega" representing million, the Society of Petroleum Engineers recommends in their style guide that abbreviations or prefixes M or MM are not used for barrels of oil or barrel of oil equivalent, but rather that thousands, millions or billions are spelled out. [1]
The tonne of oil equivalent (toe) is a unit of energy defined as the amount of energy released by burning one tonne of crude oil.It is approximately 42 gigajoules or 11.630 megawatt-hours, although as different crude oils have different calorific values, the exact value is defined by convention; several slightly different definitions exist.
MM – prefix designating a number in millions (thousand-thousand) MMbod – million barrels of oil per day; MMboe – million barrels of oil equivalent; MMboed – million barrels of oil equivalent per day; MMbpd – million barrels per day; MMcf – million cubic feet (of natural gas) MMcfe – million cubic feet (of natural gas equivalent)
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MM—Used to denote million in gas usage; MMbbl/d—one million barrels of oil per day; MMBtu—1 million British thermal units, same as dekatherm; MMC—Market Monitoring Center; MMCF—one million cubic feet (measurement of natural gas) MMCFD—one million cubic feet per day; MMGAL—one million gallons; MMGAL/D—one million gallons per day