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Denmark plans to stop oil and gas exploitation in the North Sea by 2050

Denmark plans to stop oil and gas exploitation in the North Sea by 2050

Denmark intends to completely stop oil and gas exploration and exploitation in the North Sea by 2050 as part of the energy transformation program.

The Danish Ministry of Energy announced the above decision in a statement on the 4th. This means that Denmark’s previously announced bidding plan for oil and gas exploration in the North Sea is invalid.

According to BP, Denmark has been the largest oil producer in the EU since the United Kingdom left the European Union in January this year, with an average daily output of about 100,000 barrels. The average oil production in the UK is about 1 million barrels a day.

Denmark’s oil production is significantly lower than the average of 1.4 million barrels a day in neighboring Norway. Norway is not a member of the European Union.

Denmark’s Ministry of Energy said that Denmark has significantly reduced oil and gas production in recent years and hopes to reduce greenhouse gas emissions by 70% in the next 10 years.

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