The oil equivalent barrel ( BOE ) is the energy unit based on the estimated energy released by burning one barrel (42 gallon US or 158.9873 liters) of crude oil. The BOE is used by oil and gas companies in their financial statements as a way of combining oil and gas and production reserves into one measure, although this equality of energy does not take into account the lower energy financial value of gas..
U.S. Internal Revenue Service defines BOE equals 5,8 ÃÆ'â € "10 6 BTU. (5.8 ÃÆ'â € "10 6 BTU 59 Ã, Â ° F equals 6.1178632 ÃÆ'â €" 10 9 J, about 6.1 GJ (HHV ), or 1.7 MWh.) This value is always close because different classes of oil and gas have slightly different heating values. If one considers a lower calorific value than higher calorific value, the value for one BOE would be about 5.4 GJ (see ton of oil equivalent). Usually 5,800 cubic feet of natural gas or 58 CCF is equivalent to one BOE. The USGS provides 6,000 cubic feet (170 cubic meters) of typical natural gas.
A common multiple of the BOE is an oil equivalent kilo barrel (kboe or kBOE), which is 1,000BOE. Another common multiple is a million barrels per day, MMboed (or MMBOED, MMboepd), used to measure daily production and consumption, and BBOe (also BBOE) or billion barrels of oil equivalent, representing 10 9 barrels of oil, used to measure petroleum reserves.
Users of metrics can talk about tons of oil equivalents (TOE), or more often million TOE (MTOE). Since this is a weight measurement, each conversion to an oil equivalent barrel depends on the oil density in question, as well as its energy content. Usually 1 ton of oil has a volume of 6.8-7.5 barrels. EIA USA suggests 1TOE has an average energy value of 39.68 million BTUs.
Video Barrel of oil equivalent
See also
- Unit Conversion Ã,§ Energy
- Cubic cubic oil
- Energy density
- Hot from burning
- Miles per gallon equivalent
- Term
- Ton oil equivalent
Maps Barrel of oil equivalent
References
Source of the article : Wikipedia
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