Barrel of oil equivalent A method of equating oil, gas and natural gas liquids Gas is converted to oil based on its relative energy content at the rate of six Mcf of gas to one barrel of oil Natural gas liquids are converted based upon volume where one barrel of natural gas liquids equals one barrel of oil
Barrel of Oil Equivalent It is used as a standard unit measure for oil and natural gas The latter is converted from standard cubic meters into barrels of oil equivalent using a coefficient equal to 0 0061 in the case of gas produced abroad and 0 0063 in the case of gas produced in Italy due to their different calorific values