Megan Woods will this week introduce legislation to implement the ban on new offshore oil and gas exploration against the advice of MBIE, which says it will cost the Government $7.9 billion in lost revenue reports Newsroom's Thomas Coughlan. The legislation gives effect to the decision taken by Woods in April to ban future offshore exploration "block offers". Under the proposed legislation the Government will stop granting any new offshore exploration permits. It does not affect holders of existing offshore permits, but any future block offers will be limited to onshore exploration. Woods’ decision was controversial and the revelation that…
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Finance Minister Grant Robertson told a parliamentary committee that Treasury provided no advice about the potential fiscal or economic risks from banning future offshore oil and gas exploration licenses
The government axed granting any future offshore oil and gas exploration licences without a formal Cabinet paper and with minimal analysis from officials, according to a dump of documents and emails from Energy and Resources Minister Megan Woods