{"id":37243,"date":"2018-09-01T15:28:16","date_gmt":"2018-09-01T20:28:16","guid":{"rendered":"http:\/\/olduvai.ca\/?p=37243"},"modified":"2018-09-01T15:28:16","modified_gmt":"2018-09-01T20:28:16","slug":"denmark-becomes-net-oil-importer-for-first-time-in-25-years","status":"publish","type":"post","link":"https:\/\/olduvai.ca\/?p=37243","title":{"rendered":"Denmark Becomes Net Oil Importer For First Time In 25 Years"},"content":{"rendered":"

Denmark Becomes Net Oil Importer For First Time In 25 Years<\/a><\/h3>\n\"Edda<\/picture>\n
\n

For the first time since 1993, Denmark is on track to become a net oil importer this year, as oil production in the Danish part of the North Sea will be lower than the country\u2019s consumption, the Danish Energy Agency said<\/a> on Thursday, revising down its oil production forecasts.<\/p>\n

The new forecast<\/a> by the agency is a change from last year\u2019s assessment and forecasts, which had expected that Denmark would continue to be a net oil exporter for a number of years, the agency said.<\/p>\n

Now, the country is expected to be a net oil exporter for a single year, in 2024, when oil production is forecast to exceed consumption due to expected start-up of new developments.<\/p>\n

The Danish Energy Agency revised down its oil production forecast by 8 percent compared to last year\u2019s forecast, mostly due to a downward revision of the resources, delays, and a \u201cgreater uncertainty regarding the development of several fields and discoveries.\u201d<\/p>\n

For this year, the agency expects Denmark\u2019s oil production to average just 128,000 bpd, a figure 10 percent lower than last year\u2019s 2018, mainly due to what is expected to be lower production from some of the larger oil fields.<\/p>\n

Between 2018 and 2022, the oil production estimate was revised down by an average 14 percent, attributable again to lower production expected at some larger oil fields.<\/p>\n

The outlook for Denmark\u2019s natural gas exporter status is rosier. Denmark is expected to remain a net natural gas exporter until 2035, except for the years 2020 and 2021 when the Tyra field redevelopment<\/a>\u2014approved last year\u2014will be underway, the Danish agency noted.<\/p>\n

\u201cThe approval of the rebuilding of the facilities on the Tyra field implies that the uncertainty in this regard is less than before. However, great uncertainty remains with regard to the development of a number of projects hence contributing to the forecast being somewhat uncertain,\u201d the agency said.<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

Denmark Becomes Net Oil Importer For First Time In 25 Years For the first time since 1993, Denmark is on track to become a net oil importer this year, as oil production in the Danish part of the North Sea will be lower than the country\u2019s consumption, the Danish Energy Agency said on Thursday, revising […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[3],"tags":[21481,4973,1650,5332,14603],"class_list":["post-37243","post","type-post","status-publish","format-standard","hentry","category-energy-2","tag-danish-energy-agency","tag-denmark","tag-oil-imports","tag-oilprice-com","tag-tsvetana-paraskova"],"_links":{"self":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/37243","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=37243"}],"version-history":[{"count":1,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/37243\/revisions"}],"predecessor-version":[{"id":37244,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/37243\/revisions\/37244"}],"wp:attachment":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=37243"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=37243"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=37243"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}