April 11, 2018 / 11:10 PM / a year ago

New Zealand Oil and Gas sees no impact from change in exploration policy

(Reuters) - Petroleum explorer New Zealand Oil and Gas Ltd on Thursday said it does not expect any adverse impact on business from the New Zealand government’s decision to not grant any new permits for offshore oil and gas exploration.

The explorer was the first among its industry peers to respond to the change in policy and said it plans to manage the risks associated with the policy change by investing in exploration and production assets in other jurisdictions.

Reporting by Chandini Monnappa in Bengaluru

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