What Is the Tonne of Oil Equivalent?

Ton Oil Equivalent (toe) is calculated based on the calorific value of one ton of standard oil.

Tons of oil equivalent

Right!

Ton Oil Equivalent (toe) is calculated based on the calorific value of one ton of standard oil.

Ton Oil Equivalent (toe)
The heat contained in one ton of crude oil is used to calculate the energy measurement unit for various energy sources. This calculation is based on crude oil. The International Energy Agency (IEA) requires:
1kgoe (kilogram of oil equivalent) = 10000kcal (kcal) = 41868kJ (kJ)

1kgce (kilogram of coal equivalent) = 7000 kcal (kcal) = 29307 kJ (kJ)
This regulation is universal. Applicable to OECD and UN statistics.
Internationally, tons of oil equivalent are usually used. Coefficients for converting coal, crude oil, and natural gas into oil equivalents or coal equivalents vary from country to country, and are subdivided by species and use, and change over time.
Since the composition of crude oil varies, this is an inaccurate measurement, so the actual conversion value must be clear when using it. For example, BP Company set 1 toe (ton oil equivalent) equivalent to 1.5 t of coal or 1111 m3 of natural gas. (Pang Mingli)