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What amount of fines or penalties will be imposed on PDVSA for the El Palito oil spill by June 30, 2025?
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Venezuela•El Palito•Caribbean Sea•Morrocoy National Park•Golfo Triste•Playa Tucacas•Venezuelan•PDVSA
Resolution / Starting Odds
No fines/penalties • 25%
Up to $10 million • 25%
$10 million to $50 million • 25%
Over $50 million • 25%
Official announcements from government authorities, news reports
Story
Venezuela Oil Spill from El Palito Refinery Contaminates 225 Square Kilometers, Spreads 28 Miles
Aug 20, 2024, 07:45 AM
An oil spill originating from Venezuela's El Palito refinery has contaminated a significant portion of the Caribbean Sea, affecting approximately 225 square kilometers, including Morrocoy National Park and Golfo Triste. The spill has resulted in black sludge on beaches such as Playa Tucacas along Venezuela's northwestern coast and has impacted local fishing activities. Efforts are underway to contain the leak from a broken oil pipeline, which has spread across 28 miles of coastline. The Venezuelan state oil company, PDVSA, along with local authorities, are involved in the clean-up operations.
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No fines imposed • 25%
Fines less than €1 million • 25%
Fines between €1 million and €5 million • 25%
Fines over €5 million • 25%
Above $2 billion • 25%
Between $1.5 billion and $2 billion • 25%
Between $1 billion and $1.5 billion • 25%
Below $1 billion • 25%
No additional penalties • 25%
Up to $1 million in penalties • 25%
$1 million to $5 million in penalties • 25%
More than $5 million in penalties • 25%
Relocates assets • 25%
Appeals court decision • 25%
Negotiates settlement • 25%
Complies with court decision • 25%
Fines fully paid • 25%
Fines partially paid • 25%
Fines not paid • 25%
Other • 25%
OSHA • 25%
EPA • 25%
Texas Commission on Environmental Quality • 25%
Other/None • 25%
Yes • 50%
No • 50%
OSHA • 25%
EPA • 25%
Texas Commission on Environmental Quality • 25%
Other • 25%
