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, how shall you know the dreary sorrow at the North Gate,
With Li Po’s name forgotten,
And we guardsmen fed to the tigers.”
—Li Po (701–762)
“The masses of the sea
The masses of the sea under
The masses of the infant-bearing sea
Erupt, fountain, and enter to utter for ever
Glory glory glory
The sundering ultimate kingdom of genesis’ thunder.”
—Dylan Thomas (1914–1953)
“His education lay like a film of white oil on the black lake of his barbarian consciousness. For this reason, the things he said were hardly interesting at all. Only what he was.”
—D.H. (David Herbert)