New Zleand bans further offshore oil exploration

New Zealand Prime Minister Jacinda Ardern is announcing that New Zealand will be granting no further licenses to engage in offshore oil and gas drilling.

Key points:

Step taken as part of New Zealand's climate change measures.

Of the 31 oil and gas exploration permits active in New Zealand, 22 of them are offshore.

Existing permits and mining rights are still protected, but cannot allow any further permits to be issued.