Denmark To End Oil Production In 2050

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 round failed to attract much attention, anyway, with just one applicant expressing interest after French Total withdrew, Reuters noted in a report on the news. Denmark is not a particularly large producer of oil and gas, with its average daily output this year estimated at 83,000 bpd of oil and 21,000 of oil equivalent. Yet it is the largest in the European Union, which…