Ryan Economy 1/25/2013

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Hello,

I would like to find out which BOE conversion factor you use. I see in the following thread from 2005 that it was 1 BOE = 5.8147 GJ, but I thought maybe it had been updated since then.

http://www.energycommunity.org/default.asp?action=9&read=890&fid=22

Could you let me know what the factor is in the most recent version of LEAP and where you got it from?

Regards

Tory Clark 1/25/2013
 

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Hi Ryan,

The default value for the BOE to GJ conversion factor is the same. You can always check this by going to the Units database in LEAP from the main toolbar (or General: Units menu) and looking at energy units used in LEAP.

This value is only a default, and for studies where this is important, we recommend finding a value that matches the oil used in the particular area and updating the Units database with this value for that particular area.

Best,

Tory

Ryan Economy 1/25/2013
 

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Thanks Tory!

Very helpful to know that I can look at all the conversion factors and change them if need be.

My advisor was wondering what you all use for the BOE factor so he can compare it to the forecasting model he works on. It is not energy sector focused, but includes an energy module. In case you're interested, here's a link to it:

http://www.ifs.du.edu/ifs/index.aspx

Charlie Heaps 1/26/2013
 

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FYI, the value we use now is the same as used by the IEA. NB: be careful not to confuse BOE's with the local energy content of a barrel of oil. A BOE is a barrel of oil EQUIVALENT. This is pretty much an international standard now, so I would be surprised if you needed to change it.

Dale Rothman 1/28/2013
 

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Hi Charlie and Tory,

We have been unable to find anywhere that the IEA provides a standard value for energy conversion from BOE to any other unit or vice versa. When we look elsewhere, we find some inconsistencies.

The LEAP conversion factors of:
1 BOE = 5.8147 GJ

If I go to http://www.unitjuggler.com/energy-conversion.html, I find:
1 BOE = 5.8615 GJ

If I use the BP Statistical Review of World Energy, I find:
1 BOE = 0.1364 TOE, which translates to 5.7299 GJ

But then, if I go to http://en.wikipedia.org/wiki/Barrel_of_oil_equivalent, I find:
1 BOE = 6.12 GJ

and if I use US EIA conversion factors, which are 5.8-5.989 x 10e6 BTU per BOE, which would imply that:
1 BOE = 6.09-6.29 GJ

By the way, we are eventually trying to convert TOE to BOE.

Thanks, Dale

Charlie Heaps 1/31/2013
 

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Dale and Ryan,

Sorry I misspoke. The unit conversion we got from the IEA was for TOEs not BOEs. I'm blanking on where the BOE conversion comes from. I will try to find out when I get back to the office, but I suspect it was from a book I had back in college. The factors for both are editable in LEAP (General: Units) so suggest you change if you have a value that you think is more standard.

Best,

Charlie