BOEM Adjusts Level of Civil Monetary Penalties for Oil & Gas Companies
Contacts: Blossom Robinson
The Bureau of Ocean Energy Management (BOEM) today announced a Final Rule that adjusts the level of maximum civil monetary penalties contained in BOEM regulations in accordance with Federal law.
The Federal Civil Penalties Inflation Adjustment Act (FCPIA) of 2015 requires Federal agencies to annually adjust the level of civil monetary penalties for inflation. These adjustments are intended to maintain the deterrent effect of civil penalties and to further the policy goals of the underlying statutes.
Under the FCPIA of 2015, this rule adjusts the maximum civil monetary penalties per day per violation to $43,576 for violations under the Outer Continental Shelf Lands Act and to $46,192 for violations under the Oil Pollution Act of 1990.
The Final Rule will be available via the Federal Register on March 2, 2018. The adjusted penalty levels will take effect immediately upon publication of this rule.
Questions about the Final Rule can be addressed by Robert Sebastian, Office of Policy, Regulation and Analysis at email@example.com.