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:
“Ah! on Thanksgiving day, when from East and from West,
From North and from South, come the pilgrim and guest,
When the gray-haired New Englander sees round his board
The old broken links of affection restored,
When the care-wearied man seeks his mother once more,
And the worn matron smiles where the girl smiled before.
What moistens the lip and what brightens the eye?
What calls back the past, like the rich Pumpkin pie?”
—John Greenleaf Whittier (1807–1892)
“Far and few, far and few,
Are the lands where the Jumblies live;
Their heads are green, and their hands are blue,
And they went to sea in a Sieve.”
—Edward Lear (1812–1888)
“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)