AsianOil: New Zealand to lift ban on oil and gas exploration

The New Zealand government plans to propose legislation later this year to overturn the 2018 prohibition on new oil and gas exploration.

On June 9, Resources Minister Shane Jones announced that an amendment to the current law would be presented to Parliament in the latter half of the year to address energy security issues.

The previous Labour-led coalition government had implemented the ban by halting the issuance of new oil and gas exploration permits, as part of its commitment to achieving a carbon-neutral economy by 2050. The 2018 exploration block offer was restricted to onshore areas in the Taranaki basin on the North Island.

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