Bureaucratic own goal at Tui oil field a red flag about regulatory problems

Mon, 26 Oct 2020

BW Offshore is cutting its losses at the Tui oil field and has planted a glowing red flag warning of the flaws in this country’s environmental regulation.When a company is prepared to write off a US$21 million vessel and hand it to liquidators – rather than deal further with New Zealand regulators – we should be concerned.The Environmental Protection Authority has achieved a spectacular own goal. The Ministry of Business, Innovation and Employment, in its unwanted role as de facto operator of the field, may have also had a han...

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