The tonne of oil equivalent (toe) is a unit of energy: the amount of energy released by burning one tonne of crude oil, approximately 42 GJ (as different crude oils have different calorific values, the exact value of the toe is defined by convention; unfortunately there are several slightly different definitions as discussed below). The toe is sometimes used for large amounts of energy, as it can be more intuitive to visualise, say, the energy released by burning 1000 tonnes of oil than 42,000 billion joules (the SI unit of energy). Multiples of the toe are used, in particular the megatoe (Mtoe, one million toe) and the gigatoe (Gtoe, one billion toe).
Ton of Oil Equivalent