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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).
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.
According to the American Petroleum Institute (API), a standard barrel of oil is the amount of oil that would occupy a volume of exactly 1 barrel (158.99 L) at reference temperature and pressure conditions of 60 °F (15.6 °C) and 14.696 psi (1,013.25 hPa) (or 1 atm). This standard barrel of oil will occupy a different volume at different ...
When the well hit paydirt, oil spewed 150 feet into the air at a staggering rate of 100,000 barrels per day. We've come a 3 Factors Keeping Oil Above $90 a Barrel
Oil prices bounced around quite a bit in 2024. They rallied more than 20% at one point -- topping $85 per barrel -- before cooling off toward the end of the year. Oil was recently below $70 a ...
1 is a required parameter, which specifies the number of oil barrels to be converted to tonnes (metric tons). Please do not format this parameter; i.e., use 1234 instead of 1,234. Please do not format this parameter; i.e., use 1234 instead of 1,234.
Oil prices will fall to an average of $65 per barrel in 2025 amid an oversupply of crude and a backdrop of slowing demand as countries shift toward cleaner energies and forms of transportation ...
The tun (Old English: tunne, Latin: tunellus, Medieval Latin: tunna) is an English unit of liquid volume (not weight), used for measuring wine, [1] oil or honey. Typically a large vat or vessel, most often holding 252 wine gallons, but occasionally other sizes (e.g. 256, 240 and 208 gallons) were also used. [2]