In December 2020, Denmark brought an immediate end to new oil and gas exploration in the Danish North Sea. This decision was made as part of a plan to phase out fossil fuel extraction by 2050, 80 years after the country first began exploring its hydrocarbon reserves. Although Denmark will still continue to extract fossil fuels from its existing platforms, the decision to stop hunting for new ones is a real historic milestone, as the country is the European Union’s biggest oil producer. The Danish government estimated that the decision will cost them around £1.6 billion in lost revenue. Denmark is the third country to rule out oil and gas exploration after France and New-Zealand, an ambitious step that will hopefully inspire other countries to follow suit… such as the UK!

 

further reading…

 

In December 2020, Denmark brought an immediate end to new oil and gas exploration in the Danish North Sea. This decision was made as part of a plan to phase out fossil fuel extraction by 2050, 80 years after the country first began exploring its hydrocarbon reserves. Although Denmark will still continue to extract fossil fuels from its existing platforms, the decision to stop hunting for new ones is a real historic milestone, as the country is the European Union’s biggest oil producer. The Danish government estimated that the decision will cost them around £1.6 billion in lost revenue. Denmark is the third country to rule out oil and gas exploration after France and New-Zealand, an ambitious step that will hopefully inspire other countries to follow suit… such as the UK!

 

further reading…