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Oil conversion factor from m³ to bbl (or stb) is 6.28981100 Gas conversion factor from standard m³ to scf is 35.314666721 Note that the m³ gas conversion factor takes into account a difference in the standard temperature base for measurement of gas volumes in metric and imperial units.
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).
Mbod – thousand barrels of oil per day; Mboe – thousand barrels of oil equivalent; Mboed – thousand barrels of oil equivalent per day; MBP – mixed-bed polisher; Mbpd – thousand barrels of oil per day; MBR – minimum bend radius; MBRO – multi-bore restriction orifices; MBT – methylene blue test; MBWH – multi-bowl wellhead
Three companies A, B, and C cooperate in a joint venture contractual arrangement with fixed equity shares. A production platform "Gecko" exported 235,560 barrels of oil one month. Their equities are 20, 35 and 45 percent respectively, equivalent to the volumes 47,112 bbl, 82,446 bbl, 106,002 bbl for each of the companies.
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 ...
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A Lease Automatic Custody Transfer unit or LACT unit measures the net volume and quality of liquid hydrocarbons.A LACT unit measures volumes in the range of 100 to 7,000 barrels (16 to 1,100 m 3) of oil per day.(*LACTs can transfer/measure more than 7000 bbls/day) This system provides for the automatic measurement, sampling, and transfer of oil from the lease location into a pipeline.
Brent crude futures have seen a similar rise of more than 30% over the same period, currently hovering above $94 per barrel. Citi's analysts see oil averaging $84 in the fourth quarter 2023 and ...