Energy News

Negative Outlook for Energy Insurers May Force Sector Exit: Willis Towers Watson

Energy insurers continue to feel the pressure caused by over-supply of capital and falling demand from buyers, which may lead them to exit or scale back their participation in the energy sector, according to a report published by Willis Towers …

Wyoming Losing Workers Due to Energy Downturn

More people are leaving Wyoming than are coming to the state in the wake of thousands of jobs being lost in the fossil fuels extraction industry, and it’s a trend that an economist doesn’t see reversing until oil and gas …

Hiscox Hires Mackey as Energy Underwriter, Completing Energy Team

Lorraine Mackey has joined Hiscox’s London market energy team as an energy underwriter. Mackey’s appointment completes the team led by Charles Rawlins, energy line underwriter, and also includes Louis Cozon. Previously at AXIS Capital, Mackey has six years’ underwriting experience …

Energy Insurers Become Latest Casualty of Oil Slump as Projects Are Postponed

The insurance industry is becoming the latest casualty of the oil price slump, with postponements and cancellations of energy projects forcing down premium rates and income in a market that was already crowded. Insurers forecast income could dive by 20 percent or …

Survey: Natural Gas Production in West Virginia Surpassing Expectations

A single Ohio County, West Virginia Marcellus Shale well yielded enough natural gas in 2014 to provide electricity for 24,315 homes, according to new numbers released by the West Virginia Geological & Economic Survey. There’s also plenty of what industry …

Exxon: Oil & Gas to Will Continue Dominate Energy Sector for Decades

The way Texas-based oil giant Exxon Mobil sees it, the global energy landscape won’t be radically different in 2040 than it is today. Oil and gas will remain king, accounting for an even slightly larger share of the energy supply. …

Gleason Tapped to Head Global Energy Industry Practice at Ironshore

Ironshore Inc. has named Ronald A. Gleason as Global Energy Industry practice leader. A senior vice president based in Houston, Gleason currently serves as Ironshore’s regional executive for South Central. He will continue in that role. Gleason will be responsible for …

XL Catlin Finalizes UK & Ireland Team of Business Leaders with Energy Promotions

XL Catlin announced it has made a series of promotions in its energy team, which complete its U.K. and Ireland team of business leaders. Stephen Hawkins has been promoted to global product head for upstream energy, while Luis Prato takes …

XL Innovate, XL Group’s Venture Capital Company, Acquires New Energy Risk

Dublin-based XL Group plc announced that XL Innovate*, the venture capital fund sponsored by the company, has acquired all of the shares of New Energy Risk Inc. “New Energy Risk has developed and delivered to the market unique performance warranty products …

Bermuda’s OIL Group of Companies Names Olsson as President and CEO

Bermuda-based OIL Group of Companies named Bertil Olsson as president and chief executive Officer, succeeding Robert Stauffer who is retiring in January 2016. With more than 25 years of energy insurance experience, Olsson joins the OIL Group from Marsh & McLennan …