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The Bureau of Ocean Energy Management (BOEM) announced Jan. 25 it increased the maximum daily civil monetary penalties contained in BOEM regulations, effective immediately.
For violations under the Outer Continental Shelf Lands Act, BOEM raised the maximum civil monetary penalties per day per violation to $54,352, up from the 2023 max of $52,646 per day. and to $57,617, up from $55,808 per day in 2023 for violations under the Oil Pollution Act of 1990.
BOEM published the final rule on Jan. 25, in accordance with the Federal Civil Penalties Inflation Adjustment Act Improvements Act of 2015 that requires federal agencies to adjust the level of civil monetary penalties for inflation annually.
2024-01-25 - SPAC IPOs and de-SPAC combinations became a popular means for private companies to access the public markets during the pandemic. Regulators aim to make the SPAC process closer to a traditional IPO.
2024-01-22 - Exxon Mobil Corp. filed a complaint in a Texas court to prevent a climate proposal by activist investors from going to a vote with its shareholders.
2023-12-21 - Angola, which joined OPEC in 2007, produces about 1.1 MMbbl/d, compared with 28 MMbbl/d for the whole group.
2023-12-05 - The Biden administration announced new methane regulations on Dec. 2, which energy attorney L. Poe Leggette blasted as confusing and sloppy.
2024-01-24 - Administration officials say the effect on climate change will be added to considerations.