**Krill Oil: Properties, Benefits, Side-effects?** **Krill Oil, properties, and side effects** Krill oil is derived from tiny crustaceans that live mainly in the cold waters of the Antarctic. In Norwegian, krill means "whale food", these tiny shrimp, in fact, are the food of penguins, whales and squid. Krill oil ... Miki W. et al. Laboratory tests have established that krill oil is 300 times more potent as an antioxidant than vitamin E and 47 times more potent than fish oil.