Canada hikes the liability cap for oil spills in Atlantic and Arctic waters to C$1B, up from the...

|By:, SA News Editor
Canada hikes the liability cap for oil spills in Atlantic and Arctic waters to C$1B, up from the respective $30M and $40M limits under existing rules. The changes deal only with offshore activity, which is poised to accelerate as companies begin assessing prospective new fields on the East and Arctic coasts.