Denmark To End Oil Production In 2050

OilPrice.com | Dec 4, 2020 at 12:30 PM
  • Denmark will stop extracting oil from the North Sea in 2050, the Danish government has said, adding it would cancel its eighth licensing round, announced earlier this year.
  • The end of fossil fuel extraction from the North Sea, including the canceled eighth licensing round, will cost Denmark some $2.1 billion.
  • Denmark has been at the forefront of the renewable energy transition.