Denmark to end oil exploration to move away from fossil fuels

Denmark will halt all new oil and gas exploration with immediate effect as part of a plan to phase out fossil fuels by 2050, one of the most drastic steps a crude-producing country has taken to reduce carbon emissions.

The country’s parliament has agreed to end planned licensing cycles in the North Sea and said oil and gas extraction should end by mid-century, when Denmark aims to be neutral in carbon.

Although Denmark is a small oil producer by world standards, it is the most important decision to ban fossil fuel extraction, following more symbolic gestures by countries such as France and the United Kingdom. New Zealand. The move highlights a global shift away from fossil fuels as countries and businesses seek to cut carbon emissions in a bid to limit global warming.

Several major economies, including Germany, the UK and France, have recently signed legislative targets to achieve carbon neutrality by 2050, with China and other Asian countries making similar commitments.

Meanwhile, energy giants, including BP PLC and Total SE, have signaled plans to reduce their dependence on fossil fuels and invest more in renewables like wind and solar power.