Barrel of Oil Equivalent (BOE)

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Definition: Barrel of Oil Equivalent (BOE)

Barrel of Oil Equivalent (BOE) or Crude Oil Equivalent (COE) is a unit used to denote the amount of energy that is released by burning one barrel of crude oil. Thus BOE is the amount of energy that is equivalent to the energy that is stored in one barrel of crude oil.

For referral one barrel is equal to 42 U.S. gallons or 159.873 litres.

In Finance, BOE is a recognizable unit and is used in financial reporting.

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