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| Name | Symbol | Market | Type |
|---|---|---|---|
| Omv Ag Bearer (PK) | USOTC:OMVKY | OTCMarkets | Depository Receipt |
| Price Change | % Change | Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Traded | Last Trade | |
|---|---|---|---|---|---|---|---|---|---|---|
| -0.10 | -0.78% | 12.65 | 12.64 | 12.75 | 12.7675 | 12.65 | 12.66 | 6,699 | 19:46:19 |
From May 2019 to May 2024
By Stephen Wright
WELLINGTON, New Zealand--The Environmental Protection Agency has granted clearance for a unit of OMV AG (OMV.VI) to explore for oil and gas offshore southern New Zealand.
The proposed drilling program of 10 wells would only have a small and temporary effect on the environment, the agency said Tuesday.
OMV's plans in New Zealand have been vigorously opposed by environmental groups. Greenpeace said the approval for OMV was "deeply hypocritical" because New Zealand was recently championing its climate-change policies at a summit in Madrid.
New Zealand banned offshore oil-and-gas exploration in 2018 but the ban doesn't apply to permits issued before then, some of which are held by OMV.
The agency said New Zealand law specifically prohibits it from considering the effects of climate change when making decisions about activity in the country's waters.
Production drilling would require another clearance and public consultation.
Write to Stephen Wright at stephen.wright@wsj.com
(END) Dow Jones Newswires
December 17, 2019 00:34 ET (05:34 GMT)
Copyright (c) 2019 Dow Jones & Company, Inc.
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