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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).
Natural gas is frequently associated with oil directly and gas reserves are commonly quoted in barrels of oil equivalent (BOE). Consequently, both oil and gas reserves, as well as resource estimates, follow the same reporting guidelines, and are referred to collectively hereinafter as oil & gas. [1]
The Better Business Bureau (BBB) is an American private, 501(c)(6) nonprofit organization founded in 1912. BBB's self-described mission is to focus on advancing marketplace trust, [2] consisting of 92 independently incorporated local BBB organizations in the United States and Canada, coordinated under the International Association of Better Business Bureaus (IABBB) in Arlington, Virginia.
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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.
A strong economy makes oil investments more profitable because people are likely to consume more oil. Young points to the COVID-19 pandemic and how it caused major fluctuations. We saw oil demand ...
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]
An oil pumpjack operates in Signal Hill, south of Los Angeles, California, on April 21, 2020, a day after oil prices dropped to below zero as the oil industry suffered steep falls in benchmark ...
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