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POLICY

New Zealand oilers hit with higher insurance costs

OFFSHORE oil and gas explorers and producers in New Zealand will be slugged with dramatically higher oil spill insurance costs under new rules announced by the Jacinda Ardern government last week.

Paul Hunt
New Zealand oilers hit with higher insurance costs

  Until now operators were required to hold oil spill insurance worth around NZ$27 million (A$25.6 million), but under the radical new proposal will be required to hold levels of insurance up to NZ$1.2...

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