Offshore

A Rising Tide Lifts Offshore Costs: Increased Financial Requirements in Wake of Macondo

Courtesy of Osler. View original article here. The Macondo blowout in the Gulf of Mexico in April 2010 caused billions of dollars in damage and forced regulators to assess their ability to respond quickly and robustly to mitigate the environmental consequences of offshore incidents. In 2014, the Harper government passed the Energy Safety and Security Act (ESSA)… [Read More…] about A Rising Tide Lifts Offshore Costs: Increased Financial Requirements in Wake of Macondo

New Offshore Liability Regime Effective February 26, 2016

Courtesy of Osler. View original article here. The Energy Safety and Security Act (ESSA), passed in 2014 by the Harper government, introduced changes to the liability regimes governing Canada’s offshore oil and gas industries. These changes are slated to be effective on February 26, 2016, and include increasing the amount of security required to be provided to… [Read More…] about New Offshore Liability Regime Effective February 26, 2016