• 2 minutes Oil Price Could Fall To $30 If Global Deal Not Extended
  • 5 minutes The Inconvenient Truth Of Electric Cars
  • 8 minutes Iran downs US drone. No military response . . Just Destroy their economy. Can Senator Kerry be tried for aiding enemy ?
  • 24 mins Here we go folks, the wish of so many: Pres. Trump threatens to lessen US security role in Strait of Hormuz, unveils sanctions
  • 5 hours Climate change & Wildfires: More Wildfires To The Western U.S., Will Affect Tens Of Millions Of People
  • 8 hours Wonders of Shale - Gas, bringing investments and jobs to the US
  • 6 hours Magic of Shale: EXPORTS!! Crude Exporters Navigate Gulf Coast Terminal Constraints
  • 14 hours Hard To Believe: UAE Will Work To Defuse Middle East Tension
  • 3 hours The Strait of Hormuz is the world’s most important oil transit chokepoint
  • 9 hours The Plastics Problem
  • 10 hours Looks like Trump is putting together a "Real" Coalition to protect Persian shipping lanes. Makes perfect sense. NO Fake "Coalition's of the Willing" UPDATE REUTERS Pompeo "Sentinel Program"
  • 3 hours Here We Go: New York Lawmakers Pass Aggressive Law To Fight Climate Change
  • 12 hours Cherry Picking Climate Data
  • 16 hours Oil Demand Needs to Halve: Equinor
  • 16 hours Green vs. Coal: Bavaria Seeks Fast-Track German Coal Exit in Snub to Merkel Plan
  • 8 hours Is $60/Bbl WTI still considered a break even for Shale Oil

EU: Tighter Regulations for Explorers

Bottom Line: The EU’s new offshore oil and gas exploration legislation is designed to prevent another Gulf of Mexico incident and will force explorers to submit special hazard reports and emergency-response plans as well as to demonstrate extended liability coverage.

Analysis: The legislation was approved by the European Parliament last week. Specifically, the new legislation requires exploration companies to submit special hazard reports and emergency-response plans BEFORE getting approval to launch offshore operations. Explorers will also be required to prove their ability to cover liabilities in an extended zone of operations up to 370 kilometers off the coast. Previous legislation put this at 22 kilometers off the coast. Affected will be some 1,000 offshore installations across Europe, with the bulk on the United Kingdom (486).

EU Votes

Recommendation: EU governments are expected to support the new law across the board, and its final approval is expected to be just a formality at this point and most likely to be achieved before the end of the year, if not sooner.

Intel Notes are provided by ISA Intel. For more information, contact ISA Intel Executive Director Anes Alic (anesalic@gmail.com)




Oilprice - The No. 1 Source for Oil & Energy News