The Executive has given its approval for the introduction of new legislation that will lead to a permanent end to petroleum exploration and licensing.

The Petroleum Exploration and Licensing (Repeal) Bill will effectively strip the Department for the Economy of its statutory powers to grant licences for the exploration or extraction of petroleum.

Economy Minister Dr Caoimhe Archibald has welcomed the decision, viewing it as a major step toward the region's decarbonisation goals. This move follows a temporary moratorium on petroleum licensing agreed upon by the Executive in December 2024, which was based on public consultation, independent research, and impact assessments.

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The Minister commented: "The Executive's approval of this Bill marks a significant milestone in my commitment to decarbonisation, as a key pillar of my economic vision for the north. The evidence is clear: petroleum development will not deliver meaningful economic benefit for our region, carries significant environmental and community risks, and is incompatible with the Executive's commitments on climate action and energy transition."

Detailed assessments previously concluded that allowing petroleum extraction would conflict with obligations to reduce greenhouse gas emissions and the necessary shift toward a low-carbon energy system.

Dr Archibald further noted that the decision provides a clearer path for the future of the local economy: "Ending petroleum licensing allows us to focus our efforts on renewable energy, energy efficiency, and the emerging green technologies that will deliver real economic opportunity and support energy security."

The Department for the Economy is now preparing to introduce the Bill to the Assembly as soon as possible.