AsianOil: New Zealand looks at an about-turn on oil and gas exploration

On August 26, the New Zealand government declared an intent to reverse a long-standing ban on the search for oil and gas in the country. It is understood the legislation will come into force by the end of the year and is part of the country undertaking wider measures to remove regulatory obstacles on the import of LNG amid ongoing energy shortages.

According to a recent Reuters news agency report, the proposed law would end the current prohibition, in place since 2018, on exploration beyond the onshore Taranaki region, a resource-rich area on the North Island.

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