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