Norway Considers Opening Huge Area To Deep Sea Mining

An appeals court has suspended an order issued by a lower court that could have seen supermajor Exxon lose its license to operate the Liza-1 offshore well that yields about half of the country’s oil output. According to its contract with the Guyanese government, the consortium that operates the Liza-1 well and explores in the whole Stabroek block, must have insurance cover to be able to pay all costs of a potential spill plus an unlimited guarantee provided by the lead partner, which is Exxon, that covers everything not covered by the insurance…