“New price on risk” for Gulf of Mexico producers

Government and regulators are urged to act quickly to create a stable regulatory regime in the wake of the Macondo oil spill or risk stifling domestic production

The Macondo oil spill that has leaked 4.9 million barrels of oil into the Gulf of Mexico since April 2010 has placed “a new price on risk” for oil and gas producers in the region, according to Peter Robertson, former vice chairman of Chevron.

BP’s liability for the spill has so far amounted to $32.2 billion and wide upside and downside risk to this figure remains, according to Robertson, who was speaking on a Deloitte webcast about the long-term impacts of the disaster on the US oil and gas

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