The global forage feed market has been undergoing noteworthy development in the past few years. This can be accredited to the progression in farm animal production, upsurge in the global meat intake, and growing awareness regar…
BMI View: Development delays at the Hejre field and the accompanying forecast change will see Denmark
become a crude net importer throughout the forecast period. While its status as a gas net exporter is
maintained at the moment, we highlight strong downside risk to gas production and exports after Maersk
Oil expressed the possibility of closing the Tyra East and Tyra West fields by 2018.
Latest Updates And Key Forecasts
? The seventh licensing round was launched in April 2014, and licenses were finally awarded in April
2016. Sixteen oil and gas licenses were awarded to 12 companies. Nevertheless, oil and gas reserves are
depleting for this small mature North Sea producer and we do not expect the country to significantly
reverse this trend. The strong decline in oil prices and our expectation of a lower price environment over
the coming years temper this upside risk.
? We have downgraded Denmark's oil production forecast from 2017 onwards on the back of new delays to
the Hejre field development. While we temporarily have the field starting up in 2018 as opposed to our
previous forecast of 2017, we highlight downside risk to this new forecast given no new development
option has been identified at the time of writing