Liability for Catastrophic Risk in the Oil and Gas Industry

Discusses the efforts of operators in the oil and gas industry to negotiate contract terms which increase the liability of contractors for catastrophic incidents following the 2010 Macondo oil spill. Reviews the traditional approach to allocation of liability, industry reactions to the post-Macondo litigation which saw regulators attempting to hold the contractors liable, and national regimes governing liability for oil pollution. Examines the current regulatory shortcomings, stakeholders responses to the 2010 disaster, including the insurance implications, and the potential options available