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Grane Crude Oil of Norway: Its History, Production, and Price

Oil indutry refinery - factory with dramatic sunset

Grane Crude Oil of Norway: Its History, Production, and Price

Grane crude oil is among the most popular types in the global market. It is a light, sweet crude oil with high density and low sulfur content.

Norway has been producing Grane Crude Oil for over 30 years, making it one of the world’s largest producers and exporters of this type of crude oil. 

In this article, we will discuss the importance of Grane Crude Oil from Norway and its impacts on the global commodity trading market. 


History of Grane Crude oil

Norsk Hydro discovered Grane crude oil in 1991, and production started in 2003. As a result, Norway is one of the biggest producers and exporters of petroleum. 

The country owns and operates the only two oil refineries in the Nordic and Baltic regions, and both of them process and refine Grane Crude Oil. Norway is a member of the Organization of Petroleum Exporting Countries (OPEC), and its oil and gas producers are responsible for almost all of its export revenue. 


Grane Crude Oil North Sea Reserves

Grane Crude Oil is found in northern Norway, close to the Arctic Circle. The oil is produced in the North Sea, located in the country’s center. The North Sea is the world’s largest offshore oilfield, with about 2,300 oil and gas fields in operation. Many offshore fields mean Norway can produce and transport over 90% of its crude oil and natural gas. 

Grane field had an estimated reserve of 700 million barrels of crude, but with the advancement of drilling techniques, the estimates have been increased to around 900 million barrels.   

The Grane Crude Oil is transported by ship from the production fields in the North Sea to refineries in southern Norway. Most of the oil is refined at the Sture and Mongstad refineries, owned by the state-owned company Norsk Hydro.

Price of Grane Crude Oil

Price reporting agencies assess and publish the price of Grane Blend crude oil, loading FOB Sture terminal. In addition, differentials with the North Sea Dated Brent Strip are also published daily. 

Grane is also a component of the price of the North Sea Brent Sour basket, including Brent, Forties, Flotta Gold, and Johan Sverdrup. 

Quality premiums may also be used when calculating daily prices. 

Production of Grane Crude Oil in Norway

The production of Grane Crude Oil has remained high for many years, and it is expected to remain high shortly as well. The Norwegian government has decided to keep the production levels high to prevent an oil shortage. 

However, they have also made an effort to reduce carbon emissions and increase the number of green technologies used. 

A handful of large companies, including state-owned Norsk Hydro, British-Dutch Royal Dutch Shell, and French TotalEnergies, control the crude oil production in Norway. Most crude oil is exported to Asian countries, including South Korea, China, and Japan.

Refining and Transporting Grane Crude Oil

Grane crude oil is extracted using platforms and subsea wells from the North Sea. The oil is pumped up to the surface and refined before being transported to global markets.

Most oil refineries in Norway process the Grane Crude Oil produced in the North Sea, but other types of crude oils are also delivered to the country. 

The transport of crude oil from the Middle East and West Africa is done through the Suez Canal and the Panama Canal, while the crude oil from Russia is transported through the Northeastern Passage. 

The transportation of crude oil to the ports in northern Norway is done through the Arctic Sea and the Barents Sea, located in the northernmost parts of the country. The Arctic Sea is ice-free only during summer, while the Barents Sea is ice-free throughout the year.

Owners and Operators of Grane Crude Oil in Norway

The state-owned Norsk Hydro is the biggest producer of Grane Crude Oil in Norway, followed by Royal Dutch Shell and TotalEnergies. 

Statoil Petroleum operates the Grane field and owns 37%. Petoro owns 29%, ExxonMobil Norway has 28%, and ConocoPhillips holds the remaining 6%.

The Norwegian companies that own the production fields in the North Sea are responsible for processing and refining the crude oil into various products, such as gasoline, kerosene, and diesel fuel. 

The Sture refinery is owned by the state-owned Norsk Hydro, while the Mongstad refinery is jointly owned by Norsk Hydro, Royal Dutch Shell, and Total. They account for approximately one-third of the country’s hydrocarbon products. 


Grane Crude Oil Spec

Grane crude oil is also known as “North Sea light crude” or “Norwegian light crude” and is mainly used for blending with heavier crudes for high-value products such as gasoline and diesel fuel.

It has a low sulfur content and is, therefore, suitable for diesel engines.

Like other lighter crudes, it has a relatively low API gravity and, therefore, a relatively low cetane number. This means reduced risk of knocking in spark-ignition engines, although some older machines may require higher cetane numbers to avoid breaking.

Grane crude oil is a light, sweet crude produced from natural deposits in the North Sea. It has many applications, including asphalt and fuel.

Grane crude oil contains a mixture of hydrocarbons, including paraffin wax, naphthenes, and octanoic acid. It also has low levels of sulfur and nitrogen compounds.



Grane Crude Oil is one of the most popular types of crude oil in the global market, and it is produced in large quantities in Norway. The crude oil is delivered to the country’s northern ports via large tankers sailing in the Arctic Sea and the Barents Sea. 

The crude oil is then processed at the country’s only two oil refineries, where it is converted into various products, such as gasoline, kerosene, and diesel fuel.


Thanvir has 20 years of experience with some of the largest energy and financial information providers. Founder and CEO of Phycomex, where he is trusted by commodity traders, financiers, consumers, and refiners to help optimise procurement.


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