Italy imposes offshore exploration moratorium
The industry’s future hangs in the balance as the government considers a new energy transition strategy
Hopes of a revival for Italy's upstream sector have been dealt a severe blow by parliamentary approval in February of an 18-month moratorium on offshore oil and gas exploration permits, as well as a sharp increase in fees payable on upstream concessions. The government says it wants to prioritise renewable energy developments instead. The measures were introduced as an amendment to the government's so-called "simplification decree" and are intended to assist Italy's energy system in its "process of transition towards decarbonisation", says economic development ministry undersecretary Davide Crippa. Crippa is a member of the populist Five-Star Movement, which is part of a ruling coalition wit
Also in this section
20 March 2025
As cash-strapped Western governments commit to substantially raising defence expenditure, a similar dynamic is playing out in Saudi Arabia’s oil and gas sector, as Saudi Aramco maintains it heavy capex push despite reduced revenues
20 March 2025
Tariffs, sanctions and trade conflicts are upending the oil market, impacting crude differentials and shipping rates and creating uncertainty
20 March 2025
While advanced economies debate peak fossil fuel demand, billions of people still lack access to reliable and affordable energy, especially in the Global South
19 March 2025
Iran’s oil is caught in the crosshairs of support from China and Russia and US maximum pressure, with options becoming more and more limited
