The tonne of oil equivalent (toe) is a unit of energy defined as the amount of energy released by burning one tonne of crude oil.
A smaller unit of kilogram of oil equivalent (kgoe or koe) is also sometimes used denoting 1/1000 toe.
The International Energy Agency defines one tonne of oil equivalent (toe) to be equal to:[1] Conversion into other units: Some other sources and publications use divergent definitions of toe, for example: Tonne of oil equivalent should be used carefully when converting electrical units.
For instance, BP's 2022 report used a factor of 40% efficiency (the average efficiency of a standard thermal power plant in 2017), or roughly 16.8 GJ per toe, when converting kilowatt-hours to toe.
BP's model is also based on the assumption that efficiency will increase linearly to 45% by 2050.