North Sea oil is a mixture of hydrocarbons, comprising liquid oil and natural gas, produced from oil reservoirs beneath the North Sea.
In the oil industry, the term "North Sea" often includes areas such as the Norwegian Sea and the area known as "West of Shetland", "the Atlantic Frontier" or "the Atlantic Margin" that is not geographically part of the North Sea.
Brent crude is still used today as a standard benchmark for pricing oil, although the contract now refers to a blend of oils from fields in the northern North Sea.
Read more about North Sea Oil: Licensing, Reserves and Production, Carbon Dioxide Sequestration
Famous quotes containing the words north, sea and/or oil:
“The North is full of tangled things and texts and aching eyes
And dead is all the innocence of anger and surprise,
And Christian killeth Christian in a narrow dusty room,
And Christian dreadeth Christ that hath a newer face of doom,
And Christian hateth Mary that God kissed in Galilee,”
—Gilbert Keith Chesterton (1874–1936)
“I must down to the seas again, to the lonely sea and the sky,
And all I ask is a tall ship and a star to steer her by,”
—John Masefield (1878–1967)
“No skilled hands
caress a stranger’s flesh with lucid oil before
a word is spoken
no feasting
before a tale is told, before
the stranger tells his name.”
—Denise Levertov (b. 1923)