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OMV fails in Taranaki - win for the climate

21st January 2020

"OMV's failure to find fossil fuels in its recent drilling campaign off the Taranaki coast is a win for the climate" says Urs Signer, member of Climate Justice Taranaki.

"Every dollar spent on keeping humanity dependant on oil and gas brings us closer to climate chaos. It is completely irresponsible to be drilling for fossil fuels in 2020. We all know that in order to maintain a stable climate for future generations, we can't afford to be looking for more oil and gas. Instead, we need to urgently transition to a just and fair low-carbon economy."

An OMV spokesperson was recently quoted in the media: 'It is looking like there has not been a commercial-scale find from the Gladstone-1 exploration well.' [1]

Urs Signer says: "OMV only cares about making a profit. In 'The Carbon Majors Database', OMV features among the 100 companies responsible for 71% of the world’s greenhouse gas emissions since 1988 [2]. Now they are drilling off the Otago coast in an attempt to fill up their CEO's bank account but are having to run around trying to stop protesters whose numbers are growing as public opinion turns against the industry. The most recent failed company, Tamarind, left local businesses and taxpayers hundreds of milions of dollars out of pocket and it's still not certain how this may play out with other companies as they fail. It is time we stand up to protect the oceans and our communities from climate criminals like OMV" concludes Urs Signer.

[1] The Gladstone-1 well is located in OMV's PEP 57075. Quote from https://www.upstreamonline.com/exploration/omvs-new-zealand-wildcat-disappoints/2-1-737060

[2] https://www.theguardian.com/sustainable-business/2017/jul/10/100-fossil-fuel-companies-investors-responsible-71-global-emissions-cdp-study-climate-change

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