Colin Ambler/cvnznews.com
NZ First has opened its 2026 election campaign with a bold pitch to reshape New Zealand’s energy future, unveiling a $1 billion plan to survey offshore oil and gas reserves and move the country toward owning its own supply.
Leader Winston Peters announced the policy at the party’s campaign launch in Auckland, telling roughly 800 attendees that New Zealand must break free from global energy shocks and spiralling power prices. Peters said the proposed National Subsurface Development Survey would map the country’s offshore basins, geothermal sites and CO₂ storage potential, creating a single national dataset to guide future extraction and development.
According to Peters, early results could be available within a year, with full basin surveying completed inside 24 months. He said the project could deliver “physical proof” of reserves within six years — the point at which New Zealand could begin charting a pathway to domestic energy independence.
Peters promised a “royalty well above 50%” on future extraction, arguing the revenue could end gas shortfalls, lower fuel costs, and help establish a sovereign wealth fund modelled on Norway’s. He framed the policy as a return to practical economics, accusing Labour and National of “tinkering around the edges” with solar‑focused energy plans.
The NZ First leader also used the launch to sharpen political lines, ruling out working with Labour and describing a potential Labour‑Greens‑Te Pāti Māori coalition as an “unmitigated disaster”. He criticised both major parties for failing to progress the Mill Road corridor project, vowing NZ First would make it a priority.
The event also featured speeches from new candidates, including former All Blacks captain Taine Randell, who called for “oil independence” and stronger competition in key sectors. Former National MP Michael Laws drew applause with a speech attacking what he described as the “ruinous ideology” of the liberal left.
Despite lower public turnout than previous NZ First meetings, the crowd responded strongly to Peters’ familiar themes — championing “ordinary Kiwis”, challenging political elites, and promising a future built on national resilience and resource ownership.
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