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 pure products of America go crazy—mountain folk from Kentucky or the ribbed north end of Jersey with its isolate lakes and valleys, its deaf-mutes, thieves.”
—William Carlos Williams (1883–1963)
“Translation is entirely mysterious. Increasingly I have felt that the art of writing is itself translating, or more like translating than it is like anything else. What is the other text, the original? I have no answer. I suppose it is the source, the deep sea where ideas swim, and one catches them in nets of words and swings them shining into the boat ... where in this metaphor they die and get canned and eaten in sandwiches.”
—Ursula K. Le Guin (b. 1929)
“I bade, because the wick and oil are spent
And frozen are the channels of the blood....”
—William Butler Yeats (1865–1939)