We allow third parties to collect information which we use for business purposes, for more info read CCPA section in the privacy policy page.
Browsers may block some cookies by default. Click accept to allow advertising partners to use cookies and serve more relevant ads. Visit our privacy policy page for more information.
Source: Pixabay/Pexels

Denmark Makes Major Moves In Transition From Oil To Wind Power


Denmark is quickly getting out of the oil business and jumping into the wind power industry. The country’s biggest industrial and shipping conglomerate, A.P. Moller-Maersk, has sold off their oil and gas division to a French company called Total. While they’ll still be receiving some profits from oil being harvested in the homeland, that money will be going toward improving the renewable energy infrastructure.

The $7.45 billion deal between Maersk and Total still needs to be finalized, but it’s expected to be approved and closed at some point next year. 67 percent of that amount will be shares of Total’s company. According to Bloomberg, these are three separate divestments -- drilling, tankers, and the supply service unit -- that were formerly combined into one section. Adding together how much each segment will generate in revenue made up the multi-billion dollar deal.