Denmark’s refining sector is split between Statoil and Shell and BMI says that there is little room for expansion. The main markets for Danish refined products are those countries around the Baltic. Shell has reportedly confirmed plans to sell its Danish refining and marketing interest which include a refining capacity of 63 000 bpd.
When it comes to fuels, UGI purchased BP’s Danish LPG business in 2010. The amount was not disclosed and the business is now operated by the UGI subsidiary Flaga.
The Danish government was recently inviting oil and gas companies to submit applications for new blocks in the North Sea under a new licensing round. The licenses, according to BMI, will be awarded by the Danish Energy Agency with terms of six years and all have a 30 year production extension right. The application deadline was October 20.
DONG Energy is the leading domestic Danish company in the exploration and production sector. It is also heavily active in gas distribution. 18% of the company is however owned by a consortium led by Goldman Sachs and there are more investors looking to purchase another 7% of the company from the state, according to BMI.
DUC is a joint venture company between Maersk, Shell and Chevron. It was established in 1962 to take advantage of the Sole Concession for Exploration and Production. Maersk Oil and Gas is an operator of the venture and takes care of all elements in the Danish Concession area.
Hess operates one of the most significant fields in Denmark. And Shell has a production share of 73 000 bpd for oil and 2.1 billion m3 for gas.
Adapted from a report by Claira Lloyd
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