Wellington, July 31 -- New Zealand will reverse the ban on oil exploration starting in September to strengthen its energy security, the country's government announced on Thursday.
"Operators will be able to apply for new petroleum exploration permits as early as September following the third reading of the Crown Minerals Amendment Bill," the government said in a statement.
New Zealand authorities are pragmatic about the vital role natural gas will play in its energy mix in the decades ahead, Resources Minister Shane Jones said.
"We have set a course for greater energy security backed by our own indigenous reserves," the minister was quoted as saying.
When the amendments are adopted in the third reading in September, energy companies wil...