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Overseas interest in NZ's oil and gas output unlikely to return quickly, expert warns

Author
Newstalk ZB,
Publish Date
Mon, 10 Jun 2024, 5:06pm

Overseas interest in NZ's oil and gas output unlikely to return quickly, expert warns

Author
Newstalk ZB,
Publish Date
Mon, 10 Jun 2024, 5:06pm

The Government has claimed oil and gas exploration is necessary to address energy security issues - but it's unlikely to attract overseas investors.

Resources Minister Shane Jones yesterday confirmed the ban on petroleum exploration beyond onshore Taranaki will be reversed in the coming months.

Energy Resources Aotearoa Chief Executive John Carnegie says bringing in overseas investment is going to be a 'long-term effort'.

"We've only seen details in the press release, so we have to be slightly more patient to see what comes through in the legislation."

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