COPENHAGEN, Sept 18 Denmark's centre-left
government has won support in parliament to raise taxes for
seven oil companies operating in the North Sea, which could
result in proceeds of 28.5 billion Danish crowns ($5.10 billion)
The seven operators, which have licences agreed before 2004,
will have their tax rate increased to around 62 percent of
profit from around 35 percent, thereby matching tax schemes for
operators with deals entered into since then.
The higher tax will hit U.S. company Hess, Germany's
Bayerngas, RWE Dea and VNG, Norway's
Noreco, and Danish firms Danoil Exploration and DONG
Danish Underground Consortium (DUC), which includes A.P.
Moeller-Maersk, Royal Dutch Shell Plc and
Chevron and represents around 86 percent of Denmark's
oil production, will not be influenced by the tax increase, as
it already operates under the tax rules that will now apply to
According to the deal made with the leftist Red-Green
Alliance and the right-wing Danish People's Party, the proceeds
will be used to improve the Danish railway system.