New Zealand Seeks To Scrap Exploration Ban to Reverse Gas Decline

New Zealand’s government is proposing the lifting of a 2018 oil and gas exploration ban as it seeks to halt a decline in domestic natural gas supply, boost energy security, and signal to international investors that it is open for business.    This week, the coalition government said it would introduce a bill in Parliament in the second half of 2024 to remove the ban on petroleum exploration beyond onshore Taranaki as part of a series of proposed amendments to the Crown Minerals Act. Industry welcomed the government’s…