Changes to the petroleum Annual Summary Report due date

Changes to the petroleum Annual Summary Report due date

What's changing?

Cabinet has approved a change to the Crown Minerals (Petroleum) Regulations 2007 to bring forward the due date for petroleum Annual Summary Reports from 31 March to 1 March, with implementation set for the next reporting cycle due in 2026.

The key changes are that:

• Petroleum Annual Summary Reports are now due by 1 March each year with the next being due 1 March 2026.
• This applies to all petroleum permits and licenses, including prospecting, exploration, and mining.
• The change does not apply to Annual Summary Reports for Minerals Other than Petroleum. The due date for the non-petroleum Annual Summary Reports will remain 31 March 2026.

Why the change?

We want to improve gas market transparency by providing more timely and comprehensive information to market participants. Each year, data from Annual Summary Reports informs the annual gas reserves release, typically published in July.

By the time the reserves release is published, the data may no longer reflect current market conditions. This can limit its usefulness and create an uneven playing field for those without access to real-time information.

To address this, we consulted with iwi, hapū, and petroleum permit and license holders on a proposal to bring the due date forward from 31 March to 1 February. We received several responses to the proposal. Feedback highlighted that 1 February could be challenging for several reasons. As part of our proposal, we asked for feedback on alternative dates and received suggestions that 1 March would be more achievable.

We provided the feedback to Ministers who have decided to bring the due date forward to 1 March. This change supports timely reporting and enables us to publish annual data earlier, giving the market access to more up-to-date information.

Find out more

Annual reports

Guidance on iwi engagement reports

Notice Under the Legislation Act 2019 - 2025-sl6566 -New Zealand Gazette

Crown Minerals (Petroleum) Amendment Regulations (No 2) 2025 (SL 2025/263) Contents -New Zealand Legislation