The drastic decline in the oil price means that the Danish State's oil and gas company Nordsøfonden finished 2014 with a significant deficit.
"Late summer 2014 brought a drastic fall in oil prices which has continued so far. This has significance for Nordsøfonden's earnings and has led to an impairment of facility activities for over USD 370 million," says Peter Helmer Steen, CEO of unit Nordsøenheden, which is in charge of the daily operation of Nordsøfonden, regarding the 2014 result.
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