New Zealand’s ban on new offshore oil and gas exploration could cost it billions in lost revenues, the head of the country’s oil and gas industry body Pepanz said , adding that interest in New Zealand oil and gas had begun to recover after the oil price slump right before the ban was introduced. “The government had been doing a lot of work trying to get that interest up, even in the down part of the cycle and this [Official Information Act request] shows that that work was bearing fruit, but unfortunately that opportunities now been lost and the potentially billions of investment that comes with it,” Cameron Madgwick told Stuff. New Zealand’s government announced in early April all oil and gas exploration offshore the country would be banned in a bid to protect New Zealand from the effects of climate change. The ban, however, will not extend to […]