Latest news with #oilspills
Yahoo
19-05-2025
- Business
- Yahoo
Guyana's new oil pollution bill holds companies liable for spills
Guyana's National Assembly has passed an oil pollution bill holding companies and offshore operators accountable for damages from oil spills, including those from vessels. The bill, which passed with a majority voice vote, is expected to be signed into law by President Irfaan Ali soon, reported Reuters. This legislation aims to establish national environmental safeguards in response to expanding offshore oil production in Guyanese waters. The bill comes as Guyana's oil production, led by an ExxonMobil consortium, is projected to exceed 900,000 barrels per day (bpd) this year. The legislation requires responsible parties to provide financial assurance for spills, conduct regular inspections and audits, and address any identified issues. Penalties for non-compliance include the suspension of licences for exploration and production for companies failing to provide the necessary financial assurance. The Civil Defence Commission (CDC) will serve as the national authority to coordinate response efforts and mitigate spill impacts, as well as oversee routine inspections and audits to identify and rectify potential risks, reported the Maritime Executive. Guyana became Latin America's fifth-largest oil exporter last year after Brazil, Mexico, Venezuela and Colombia. The country reported a 3% increase in oil production in March, reaching an average of 631,000bpd, compared with the same period last year. The government anticipates production to surge to an average of 786,000bpd, driven by the commencement of the Yellowtail project, Exxon's fourth venture in the country. The Finance Ministry reported oil revenue of $605.46m (G$126.61bn) from royalties and sales in the last quarter of the previous year. "Guyana's new oil pollution bill holds companies liable for spills" was originally created and published by Offshore Technology, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
17-05-2025
- Business
- Yahoo
Guyana lawmakers pass bill making companies liable for oil spill damages
GEORGETOWN (Reuters) -Guyana's parliament passed an oil pollution bill late on Friday that holds parties liable for damages caused by oil spills, including from vessels. The bill, which passed with a majority of votes cast in a simple voice vote, is expected to soon be signed into law by President Irfaan Ali. Guyana, whose oil production is controlled by an Exxon Mobil-led consortium is expected to surpass 900,000 barrels per day (bpd) this year. The South American country is trying to reinforce oversight of its nascent energy industry, where all crude and gas output comes from offshore fields. The legislation stipulates that responsible parties provide financial assurance to cover spills, conduct regular inspections and audits, and address any issues found. It also includes penalties for companies that fail to comply with regulations, including the suspension of licenses to explore and produce oil for those that do not provide the financial assurance required. Guyana, whose oil production is controlled by an Exxon Mobil-led consortium is expected to surpass 900,000 barrels per day (bpd) this year. Last year the country became Latin America's fifth largest oil exporter after Brazil, Mexico, Venezuela and Colombia. The Exxon group, which includes U.S. Hess and China's CNOOC, produced an average of 631,000 bpd of oil in the first quarter, 3% higher than in the same period last year.
Zawya
07-05-2025
- Business
- Zawya
Nigeria/UK: 'Historic moment' as community devastated by Shell oil spills have final chance for justice
Ahead of Thursday's start of the trial of Renaissance, an oil company to which Shell recently sold its stake in onshore oil extraction in Nigeria, for the damage caused by oil spills which impacted a large area of land belonging to the Bodo Community in the Niger Delta, Isa Sanusi, Amnesty International Nigeria Director said: 'Almost two decades since oil spills by Shell's then-Nigerian subsidiary SPDC devastated huge swathes of mangrove habitat, the Bodo community whose lives and livelihoods were – and continue to be – affected by the pollution, have a final chance for justice. 'Despite Shell admitting responsibility for the pollution over a decade ago, this case aims to prove that their promised clean-up is far from complete and contamination continues to pose a serious health risk to tens of thousands of people. 'It is shameful that it has taken so long and required legal action to get the companies responsible for this environmental destruction to face their responsibilities. We hope that this long-overdue trial will provide the affected Bodo communities the justice and remediation they have fought for and deserve. This is a historic moment that should serve as a reminder that a just transition to clean energy also means holding polluters to account for the harm they have caused in the past.' Background In 2008 there were two massive oil spills, caused by poorly maintained Shell pipelines, in a creek close to the Bodo community. Crude oil continuously leaked into the water for five weeks on each occasion. Shell settled with the community in 2014 but has yet to clean up Bodo's devastated waterways despite a mediation process that started in 2015. The Court of Appeal heard the Shell Nigeria oil spill appeal on 8 October 2024. On 11 October 2024, the Court of Appeal ruled in favour of Nigerian communities over alleged pollution by oil giant Shell. On 6 December 2024, a full trial of Nigerian communities' claims against Shell was given the go ahead. The Bodo community's legal claim is being brought against Renaissance Africa Energy Company Limited (RAEC), which was formed after Shell divested from its Nigerian subsidiary Shell Petroleum Development Company of Nigeria Limited (SPDC) in March 2025. Ahead of the sale, Amnesty International called for Shell to be held accountable for the environmental damage they had caused in the Niger Delta. Over the past 20 years, Amnesty International has conducted extensive research and documented the human rights and environmental impact of Shell's operations in the Niger Delta. In Amnesty's 2023 report, Nigeria: Tainted Sale?, the organization recommended a series of safeguards to protect the rights of people potentially affected by Shell's planned disposal of its oil interests in Nigeria. Distributed by APO Group on behalf of Amnesty International.
