Denmark's oil earnings lower than ever

Although the finance ministry has upgraded its oil price forecast, North Sea income is expected to land at a mere DKK 51 million this year, shows new report. Next year doesn't look much better.

Photo: Total

Since 2007 alone, Denmark has invested close to a billion kroner (EUR 134.3 million) in 20 different exploration drillings in the North Sea via state-owned oil firm Nordsøfonden. These drillings have to varying degrees led to commercial oil and gas discoveries.

The exact amount spent was DKK 895 million, as confirmed by Business Minister Simon Kollerup in mid-August in a reply to Ruben Kidde, the Social Liberal Party's substitute energy spokesperson.

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