The government is pulling the plug on new offshore oil and gas exploration. The decision will not affect existing permits, which cover roughly 100,000 square kilometres of ocean.
The Petroleum Exploration and Production Association says its members are very disappointed and the mayor of New Plymouth Neil Holdem says its a kick in the guts for the the Taranaki economy.
Energy and Resources Minister Megan Woods tells Susie Ferguson it's been a deliberate, long-term decision.
