The changes come amid renewed interest from companies such as BP Plc, Royal Dutch Shell Plc, Imperial Oil Ltd. and the Canadian unit of Chevron Corp. in tapping offshore Atlantic and Arctic crude. Photograph by: Handout/United States Coast Guard , Financial Post
Jeff Lewis, Financial Post | Jun 18, 2013 | Last Updated: Jun 18, 2013 – 10:07 UTC
CALGARY • Ottawa is boosting the liability cap on oil companies with plans to drill in Atlantic and Arctic waters as it looks to rekindle interest in Canada’s offshore.
In changes announced Tuesday, Natural Resources Minister Joe Oliver said companies operating in the Atlantic would be on the hook for a maximum of $1-billion in the event of a spill, up from $30-million previously. Arctic drillers, who face high costs and harsh operating conditions in the Canadian Beaufort Sea, would also be responsible for a $1-billion liability limit, up from $40-million under existing rules. read more
Like this:
Like Loading...
This website and sisters
royaldutchshellgroup.com,
shellnazihistory.com,
royaldutchshell.website,
johndonovan.website, and
shellnews.net,
are owned by
John Donovan. There is also a
Wikipedia segment.