Natural Gas, Crude Oil

November 06, 2025

Back to the Future: New Zealand re-opens itself for upstream exploration

HIGHLIGHTS

New Zealand re-opens for upstream oil/gas exploration

Reverses self-imposed ban started in 2018

Operators gain confidence for fresh exploration plans

Earlier this year, New Zealand reversed a self-imposed ban on offshore oil and gas exploration begun in 2018 and is now allowing companies to apply for new licenses.

Frankie Hulbert, an S&P Global expert in upstream exploration and development, joins Hill Vaden and Sam Humphreys to discuss how New Zealand's renewed interest in domestic natural gas supply led to the reversal and whether operators now have enough confidence in policy to commit to fresh exploration plans.

Learn more about S&P Global Commodity Insights energy coverage at: https://www.spglobal.com/commodityinsights/en

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