Latest News

Petrobras pulls out of Raukumara Basin

Petrobras pulls out of Raukumara Basin

TVNZ coverage: Petrobras has decided not to proceed with permits it holds for deepwater prospecting off the North Island’s east coast

The Brazilian company was awarded a permit in 2010 to explore 12,000 square kilometres in the Raukumara Basin for gas and oil.

Asked today if he was disappointed Petrobras was not proceeding, Finance Minister Bill English said other companies were interested and committed to oil and gas exploration.

‘Exploration is attractive’

“The government has invested a bit of time and money in making sure it’s attractive – exploration is attractive,” he said.

“The companies are always making their decision in the context of now some quite big shifts in world energy markets with the extensive shale gas finds in the US for instance”.

Local iwi and green groups fought a high profile campaign – even taking to the seas – in a bid to stop Petrobras’s exploration.

Gisborne District Councillor Manu Caddie said he was not surprised the level of public opposition to deep sea drilling got Petrobras worried.

He told Newstalk ZB the idea to prospect for oil in the area was crazy from the outset as it had abundant marine life and locals used it as a food resource.

‘Black gold’

Labour leader David Shearer told Newstalk ZB he had been unaware Petrobas had chosen not to proceed.

However, Shearer said his party supported deep sea drilling as long as appropriate safeguards and criteria were met.

Deep sea drilling could help New Zealand’s economy, he said.

The government has previously said ‘black gold’ could make New Zealand richer by lifting the country’s GDP.

Latest Tweets

  • DigitalMaori@fuck_lupus Pō mārie. about an hour ago
  • DigitalMaoriRT @MaramaDavidson: @caniwikiwi @TheDarkHorse_nz @DigitalMaori It's hard and sad and then truly inspirational. Beautiful performances espec… about an hour ago
  • DigitalMaoriRT @caniwikiwi: @MaramaDavidson @TheDarkHorse_nz @DigitalMaori We just came back from watching! Isn't it great? about an hour ago
  • DigitalMaoriMaori News: Iwi eager to unite its people in celebration http://t.co/BGgzo29LCI #maori #indigenous about a day ago
  • DigitalMaori@dairycocky No it's not. Pakeha rich list, Pakeha only prime ministers. Who has all the power? Not us. Crying now cos u have to share. Lol. about 2 days ago
  • DigitalMaori@dairycocky & if you're asking me personally, hell yea! If we can't eliminate poverty & racism, I'm totally for proMaori policies about 2 days ago
  • DigitalMaori@dairycocky race based? Read some history then get back to me. about 2 days ago
  • DigitalMaoriRT @kaupapamaori: In every community there are leaders who are willing to take on the challenge. We need to find & resource those people. L… about 2 days ago
  • DigitalMaori@dairycocky anyway I can hear of your your cows going mad out back. Must've heard about novapay. Better go check #mooove about 2 days ago
  • DigitalMaori@dairycocky @Olivefarmer yea any party. The night before he gave Annette the biggest hug. He's promoting his film &supporting his cousin about 2 days ago
  • DigitalMaori@Megapope dang. And we were all hoping lol about 2 days ago
  • DigitalMaoriRT @kaupapamaori: Angeline Greensill talking on the Treaty and protecting our environment. http://t.co/jDS9Wmd0aT about 2 days ago
  • DigitalMaoriRT @kaupapamaori: We need to urgently address food sovereignty, climate change and protecting our environment. Angeline Greensill about 2 days ago
  • DigitalMaoriRT @kaupapamaori: "What concerns me is that we win over 34 seats and we don't have enough on the list... Get on the roll and vote" Angeline… about 2 days ago
  • DigitalMaori@dairycocky @Olivefarmer what you mean this guy? With Annette's Sykes. Oh that's right lol http://t.co/FlzMNIb2lt about 2 days ago
  • DigitalMaoriMaori News: Pu Konohi Art Auction http://t.co/ryDg0tt4aB #maori #indigenous about 2 days ago
  • DigitalMaoriMaori News: Amazing opportunity for Rangatahi wanting to work with Vodafone http://t.co/rfLsrQrq3Y #maori #indigenous about 2 days ago
  • DigitalMaoriRT @kiwinerd: @DigitalMaori i think that article overuses the trope of indigenous nations dying out. about 3 days ago
  • DigitalMaoriMaori News: Mauri Hauora Walk Talk 6 by Olly Ohlson http://t.co/im8LZW3dOr #maori #indigenous about 3 days ago
  • DigitalMaoriRT @patsalwhk: @DigitalMaori you rock @InternetPartyNZ feeling star struck x http://t.co/3lCqHyVlcy about 3 days ago