US: Oil Pollution Act changes
Adjustments to the Limit of Liability for Offshore Facilities under the US Oil Pollution Act will come into effect on 12 January 2015.
The US Bureau of Ocean Energy Management (BOEM) has promulgated a rule (79 FR 73832) that raises the liability limit for offshore facilities under the Oil Pollution Act of 1990 (OPA) from $75m to $133.65m. This adjustment for inflation reflects the increase in the Consumer Price Index (CPI) since OPA was enacted in 1990. The rule also establishes a methodology for BOEM to periodically adjust the OPA offshore facility liability limit for inflation.
Please note that the rule does not affect the OPA requirement that offshore facilities be able to demonstrate $150m in financial responsibility.
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