EU Seeks Stricter Offshore Oil Rules, Extends Zone, After Spill

European Union regulators proposed stricter safety standards for offshore oil and natural-gas exploration to curb the risk of a major accident after BP Plc’s spill in the Gulf of Mexico, the largest in U.S. history.

Draft regulation presented today by the European Commission, the EU’s regulatory arm in Brussels, sets risk-assessment rules for offshore platforms and gives national regulators more powers to inspect their operations. It also extends 16-fold the zone in which companies will be held liable for environmental damage.