Denmark Swings To Net Oil Importer After North Sea Production Decline

A 25-year period for Denmark as a net oil exporter is set to end this year following output declines in the North Sea, the country’s energy agency said on Aug.30 after slashing its long-term oil production forecast.

The Danish Energy Agency expects this year’s oil production to reach 128,000 barrels per day (bbl/d), down from 138,000 bbbl/d last year and 10% lower than an estimate given a year ago.