The Two Most Popular Grades of Crude Oil When it comes to physical oil, there are different grades. The most popular traded grades are Brent North Sea Crude (commonly known as Brent Crude) and West Texas Intermediate (commonly known as WTI). Brent Blend is actually a combination of different oils from 15 fields throughout the Scottish Brent and Ninian systems located in the North Sea. Its “API Gravity” is 38.3 degrees, which makes it a “light” crude oil, but clearly not quite as “light” as WTI. A new grade of North Sea crude produced by Norwegian energy giant Equinor is seeping into the Asian oil market at pace, reports suggest. The chart shows historical prices for two grades of crude oil: West Texas Intermediate (WTI - bright orange curve) and Brent crude from the North Sea (light orange curve). The chart also displays the spread between the two (Brent-WTI Spread - light cyan area). WTI is traded on New York Mercantile Exchange (NYMEX). Besides marketing the new grades from the North Sea, Equinor is also active in the U.S. crude market where it currently exports 200,000 to 300,000 bpd to Asia and Europe, including its refineries Johan Sverdrup crude has an API gravity of 27.2 degrees and has 0.82% sulfur. Besides marketing the new grades from the North Sea, Equinor is also active in the U.S. crude market where it currently exports 200,000 to 300,000 bpd to Asia and Europe, including its refineries in Norway, James said.
26 Nov 2019 North Sea's latest crude oil stream is out of fashion, but still in demand: Fuel for The medium sour crude grade could be the region's last big 3 Feb 2020 North Sea crude grades are generally traded either as a differential to Dated Brent or as a differential to the Cash Brent-Forties-Oseberg-Ekofisk- 22 Nov 2019 A new grade of North Sea crude produced by Norwegian energy giant Equinor is seeping into the Asian oil market at pace, reports suggest. Advantages of the ARGUS North Sea Dated crude price assessment became the Argus North Sea Dated price assessment, a price assessment derived from a methodology that involves the five BFOET crude grades. ASCI crude oil
Our presence in the West African, Mediterranean & North Sea crude oil markets enables us to source a wide variety of crude grades for our refineries.
Oil major Shell and New York-based price reporting agency Platts are broader range of crude oil grades to be delivered into the forward market for BFOE crude oil The Brent benchmark is based on four North Sea crude oil streams - Brent, 22 Feb 2016 Learn about: light vs heavy crude oil, sweet vs sour crude oil, the differences crude oil grades extracted from various wells in the North Sea 30 Jan 2018 Each grade of crude oil has its own unique characteristics, and they which is extracted from the North Sea, or Dubai/Oman crude from the 25 Jan 2017 That means North Sea grades are becoming somewhat more affordable for refiners in Asia, where China is guzzling crude at record levels. 15 Dec 2017 Average development break-even price for traditional crude projects in North Sea is estimated by GlobalData at $35 per bbl. Heavy oil projects
The razzle dazzle of US tight oil and new rules on marine fuels could have meant a chilly reception for the arrival of the North Sea’s Johan Sverdrup. The medium sour crude grade could be the region’s last big production boost at a time when, especially in Europe, there has been a shift to cleaner, less-sulfurous fuels. Besides marketing the new grades from the North Sea, Equinor is also active in the U.S. crude market where it currently exports 200,000 to 300,000 bpd to Asia and Europe, including its refineries This grade is described as light because of its relatively low density, and sweet because of its low sulphur content. Brent Crude is extracted from the North Sea and comprises Brent Blend, Forties Blend, Oseberg and Ekofisk crudes (also known as the BFOE Quotation). Forties is one of the North Sea grades that determines the value of the Brent futures contract. Brent, in turn, affects the pricing of crude oil around the world. A spike in Brent prices has a knock-on effect on crude exports from the Middle East and West Africa. North Sea oil is a mixture of hydrocarbons, comprising liquid petroleum and natural gas, produced from petroleum reservoirs beneath the North Sea.. In the petroleum 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.