BW Group warms of tough regulations ahead for the offshore industry

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Andreas Sohmen-Pao, Chief Executive of fleet operator the BW Group has warned that the Gulf of Mexico oil spill will lead to stricter regulations with consequences for the entire offshore industry.

“We are watching carefully to see what the outcome of the oil spill will be,” Mr Sohmen-Pao said. “It is hard to predict specifically how the regulations will change, as some of the changes will be politically driven. However, there is no doubt that requirements will be tougher.”

Mr Sohmen-Pao also warned that decisions could be made on an emotional rather than practical basis. He said: “A general trend towards higher environmental expectations from society and politicians is also leading to stricter environmental legislation for both the offshore and shipping industries.

“One benefit is that the changes will help us prepare for a world with more expensive energy costs. As such, we should embrace fuel management and energy efficiency as opportunities to be ready for the future, not just from an environmental point of view but also from an economic one.”