What does BBL mean in oil industry?

The standard measure of volume in the U.S. oil and gas industry is the Barrel (bbl) for liquids and the cubic foot (ft 3) for gases. The barrel is defined as 42 U.S. gallons. That is: 1 bbl = 42 gal (U.S.) You have probably noticed that the unit for barrel, “bbl,” has two “b’s”, while the word for barrel only has one.

What does BBL stand for?

In this article, we’ll define some of the most common abbreviations and their volume prefixes. The abbreviation BBL refers to a barrel of crude oil. In the oil industry, an oil barrel is 42 US gallons. Some sources say this abbreviation originated with Standard Oil Co. — the first oil giant in the U.S. founded in 1870 by John D. Rockefeller.

What is the Strategic Petroleum Reserve?

The Strategic Petroleum Reserve (SPR) is an emergency stockpile of petroleum maintained by the United States Department of Energy (DOE). It is the largest known emergency supply in the world, and its underground tanks in Louisiana and Texas have capacity for 714 million barrels (113,500,000 m 3).