Diversifying North Sea industry develops smorgasbord of alternative crudes

摘要

The perceived waning of the North Sea oil industry,reflected in the remodeling of the Brent benchmark,belies a sector that continues to transform,with a continuing influx of new companies and proliferation of non-standard crudes derived often from under-explored regions.The decision by Platts,part of SP Global Commodity Insights,to include a non-North Sea crude oil,WTI Midland,in the Dated Brent benchmark from May 2 is the latest change designed to offset declining production of light sweet grades and maintain the integrity of a benchmark used to price oil around the world.But the decline of crudes such as Brent and Forties has also stimulated fresh thinking and effort by the industry,as well as regulatory change designed to foster investment and remove hurdles relating to decommissioning.