France bans fracking and oil production

December 20, 2017

The law will prevent new licences being issued for oil and gas extraction in France and its overseas territories and any existing ones will not be renewed beyond 2040.
The impacts of the new law are unlikely to be as dramatic as you might think, in that France imports 99% of its oil and gas and only actually produces the equivalent of around 815,000 tonnes of oil per year from French territories. To put this into context, Saudi Arabia currently produces around 1.4 million tonnes of oil equivalent per day.
However, the new law ties in with France's plans to end the sale of new petrol and diesel cars by 2040. French Ministers and France's President, Emmanuel Macron, hope that the new law will be something that is adopted by lots of other countries, including larger oil and gas producers.

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