New Zealand New Zealand's Upstream Outlook Pessimistic As Mature Fields Decline

摘要

The New Zealand government has revised down its production targets for crude oil and condensates for 2020 in response to myriad headwinds afecting the sector. A blanket ban on new ofshore exploration issued in 2018 further clouds the outlook for New Zealand’s upstream sector. Signifcant challenges in the upstream oil and gas sector force New Zealand to become ever more dependent on imports going forward.