POLICY

Chevron, Equinor out of New Zealand 

JOINT venture partners Chevron Corporation and Equinor have farmed out of New Zealand, abandoning their exploration offshore the North Island in the Pegasus-East Coast Basin, with both activists and petroleum lobbyists suggesting the move is a direct result of the Labour government's 2018 ban on new offshore exploration. 

NZ PM Jacinda Ardern

NZ PM Jacinda Ardern

The oilers have said it was a portfolio decision and not based on "policy or regulatory concerns" similar to what Shell said after a century of operations there when it left early last year and Anadarko...

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