Page 48 - MEX-Yearbook-2017

Commodity Insights

Brent Crude

Introduction Etive, Ness and Tarbert. Petroleum production from Europe, Africa, and the
Brent Crude is a major trading classification of sweet light crude oil that Middle East flowing West tends to be priced relative to this oil, i.e. it forms
serves as a major benchmark price for purchases of oil worldwide. This a benchmark.
grade is described as light because of its relatively low density, and sweet Brent blend is a light crude oil (LCO), though not as light as West Texas
because of its low sulphur content. Brent Crude is extracted from the North Intermediate (WTI). It contains approximately 0.37% of sulphur, classifying
Sea and comprises Brent Blend, Forties Blend, Oseberg and Ekofisk crudes. it as sweet crude, yet not as sweet as WTI. Brent is suitable for production
The Brent Crude oil marker is also known as Brent Blend, London Brent and of petrol and middle distillates. It is typically refined in Northwest Europe.
Brent petroleum. Brent Crude has an API gravity of approximately 38.06 which
Originally Brent Crude was produced from the Brent oilfield. The name is equivalent to a specific gravity of 0.835.
“Brent” comes from the naming policy of Shell UK Exploration and
Production, operating on behalf of ExxonMobil and Royal Dutch Shell,
which originally named all of its fields after birds. But it is also a backroom
or mnemonic for the formation layers of the oil field: Broom, Rannoch,

47 | MEX NEPAL YEAR BOOK 2017