EU ROUND UP – DRILLING DIRECTIVE DEAL STRUCK IN BRUSSELS
February 3rd, 2013
A DEAL has been struck on the shape of a European Union (EU) directive aimed at preventing major oil and gas offshore drilling accidents happening in EU waters. Under the text agreed by European Parliament and EU Council of Ministers representatives, oil and gas firms seeking a drilling licence must submit major hazard reports and emergency response plans proving they can deal with potential accidents. They would also have to demonstrate sufficient financial muscle to pay for "liability for potential economic damage where such liability is provided for by ...
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