France Passes Bill To End Oil and Gas Production by 2040

France’s parliament passed legislation on 19 December requiring all oil and gas exploration and production on French territories to end by 2040, the first time any country has taken such a step.

The bill, presented to cabinet in September, bans the renewal of any existing concessions beyond that date. New exploration permits will no longer be granted from now.

The decision is largely symbolic because France produces only about 6 million bbl of hydrocarbons a year, about 1% of its consumption. It will continue to import and refine oil.

President Emmanuel Macron, elected in May, has sought a leading role for France in the fight against climate change and stressed at a summit last week that not enough was being done.

Read the full story here.



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