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North Sea Brent Crude Oil - Origins ... Facts
North Sea Brent was discovered in the early 1960's and is refined and consumed in the U.K, Norway, Denmark, the Netherlands, and Germany.
Brent Crude is one of many classifications of North Sea oil of which there are; Brent Crude, Brent Light, Sweet Crude, Ecofisk, Oseberg, and Forties. Brent crude is the biggest of all the classifications of North Sea oil, and its name originates from the bird the 'Brent Goose'. Exxon and Shell adopted a policy of naming their oil fields after birds. The 'Brent' field itself from which the crude was taken, was found by the Shell petroleum company in the North East of Shetland back in 1971.
North Sea Brent Crude is the benchmark crude and is used to price two thirds of the world's internationally traded oil on the golbal market. The other well known classifications include Dubai Crude and West Texas Intermediate (WTI) which is a lighter and sweeter form of crude oil. Crude oil is considered to be 'sweet' if it contains less 0.5% sulphur compared to the higher level of sulphur found in 'sour' crude oil. High quality crude with a low sulphur content is commonly processed into petroleum/gasoline.
Around the world the most sought after form of crude oil is 'Light-sweet' crude oil as out of all forms of crude oil it is the easiest to process into gasoline, kerosene, and high quality diesel.
The term "sweet" originated because the low level of sulfur provides the oil with a mildly sweet taste and most pleasing smell. Nineteenth century prospectors that tasted and smelt small quantities of the oil to determine its quality thus named it 'sweet', and the term has remained to this day.
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