Denmark Sold Its Last Oil Company As It Moves Towards Green Energy

Denmark is moving towards wind power and leaving oil behind. The biggest company of Denmark sold the last of its oil firms and now it is moving towards renewable energy.  Denmark is biggest wind turbine producing nations in the world.

In August the known industrial conglomerate A.P. Moller-Maersk sold its oil and gas companies to the French company Total. After the regulatory approval is finished the deal that is worth $7.45 billion will be closed by next year.

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Denmark wants to completely remove usage of fossil fuels from its country by 2050. Claus V. Hemmingsen, Maersk’s vice chief executive said, “By selling to Total, we ensure a continued Danish stronghold in the North Sea based on Maersk Oil’s leading position within technology development and its track record as a lean, efficient and trusted partner. Importantly, Maersk Oil will remain close to its technology and innovation partners at the Danish technical institutions and in the oil and gas service industry to the benefit of all parties.”

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