Loading...
Market
New offshore petroleum exploration permits issued by June 2025?
4
Resolution / Starting Odds
Yes • 50%
No • 50%
New Zealand Ministry of Business, Innovation and Employment (MBIE) announcements, official government publications
Story
New Zealand to Lift Ban on Offshore Petroleum Exploration to Bolster Energy Security
Jun 9, 2024, 05:26 AM
New Zealand's government is moving forward with plans to lift a ban on offshore petroleum exploration. This decision, which is set to be implemented in the second half of the year, is aimed at bolstering the country's energy security. The move follows a pledge by Prime Minister Christopher Luxon's administration to resume offshore oil and gas prospecting after last October's election. The government will introduce a bill to reverse the ban. The Green Party has criticized the decision, labeling it a backward step for climate goals. This development comes amid a broader global trend of retreating from climate goals, as highlighted by discussions at COP28 and the changing climate narrative.
View original story
Similar markets
Yes • 50%
No • 50%
Significant Increase • 33%
No Significant Change • 33%
Decrease • 33%
Yes • 50%
No • 50%
Yes • 50%
No • 50%
Energy Security • 33%
Economic Growth • 33%
Political Pressure • 33%
Successful • 33%
Partially Successful • 33%
Unsuccessful • 33%
Yes • 50%
No • 50%
Less than 90 million bpd • 33%
90-95 million bpd • 33%
More than 95 million bpd • 33%
