Norway and the United Kingdom are signifigant Oil exporters, though Denmark is also a small net exporter. Because Norway only consumes a relatively small amount of oil each year, the country is able to export the vast majority of its oil production. In 2003, Norway was the third-largest net oil exporter in the world, behind Saudi Arabia and Russia.

 

The largest single recipient of Norway's exports is the United Kingdom, which imported 814,500 bbl/d from Norway, or 34 percent of Norway's total exports. Other significant destinations included the Netherlands (14 percent), the United States (11 percent), and Germany (9 percent).

The UK has been a net exporter of Crude Oil since 1981, though the country does import large quantities of oil from Norway. According to the British Department of Trade and Industry (DTI), the largest destinations of crude oil exports in 2003 were the United States (31 percent), the Netherlands (26 percent), France (16 percent), and Germany (14 percent).

 

Much of the crude oil exported to the Netherlands is not actually consumed there, but rather sold at the Rotterdam spot market. In 2004, the UK exported 235,000 bbl/d of crude oil and 134,000 bbl/d of Petroleum products to the U.S., contributing 2.3 percent and 4.7 percent to total U.S. crude oil and petroleum product imports, respectively.