EnergyWatch

France plans to end oil output by 2040 with exploration ban

Oil and gas production will end in France from 2040. A plan presented by Ecology Minister Nicolas Hulot in July will also progressively increase taxes on fossil fuels, close coal-fired power plants by 2022, and invest more in renewable energies.

Ecology Minister of France, Nicolas Hulot | Photo: /ritzau/AP/Francois Mori

France will stop granting new exploration permits next year as it seeks to end all oil and gas production by 2040, according to a draft bill presented at a cabinet meeting Wednesday.

The move would allow the government to turn down more than 40 exploration requests already made, while some existing permits may be extended to respect contracts, the presentation showed. That includes the Guyane Maritime license off French Guiana, in which Total SA has a stake, according to an adviser to Ecology Minister Nicolas Hulot, who briefed reporters in Paris.

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