NZ Repeals Offshore Oil, Gas Exploration Ban

New Zealand's Parliament has repealed the 2018 ban on offshore oil and gas exploration, which was a key climate policy introduced by former Prime Minister Jacinda Ardern. The current coalition government claims the ban contributed to rising energy prices, energy insecurity, and depleted gas reserves, prompting its reversal to encourage domestic supply and investment. The legislation, passed by a 68-54 margin, amends decommissioning regulations by granting ministers greater discretion over cleanup costs, partly in response to issues such as the Tui Oil Field case. Critics from the Labour opposition argue the move prioritizes multinational oil and gas interests over climate action and public welfare. Operators will be able to apply for new exploration permits as early as September. The repeal comes amid global debates on climate policy rollbacks, including the U.S. effort to rescind greenhouse gas emission rules.