Latest Energy Headlines
All the headlines from our Energy Topic Page, ordered by recency.
S&P Affirms OIL’s ‘A-‘ Rating, Off CreditWatch; Outlook Stable
Dec 22 2005 // Standard & Poor’s Ratings Services announced that it has affirmed its “A-” counterparty credit and financial strength ratings on petroleum industry mutual insurer Oil Insurance Ltd. (OIL) and removed...
Lengthy Processing Time See for U.K. Oil Fire Claims
Dec 20 2005 // A bulletin on the Lloyd’s Web site notes that “claims from the biggest fire in Europe for over 50 years [the Buncefield fire] will impact the London market in two phases, according to a major loss adjuster...
OIL SPILL LIABILITY RAISED:
Dec 5 2005 // Acting Gov. Richard J. Codey has signed legislation increasing liability limits for owners and operators of vessels that discharge hazardous substances into state waterways. The move came nearly a year after an oil tanker...
The Four C’s of Risk Management for Oil and Gas Operator – Managing Contracts
Dec 5 2005 // Editor’s note: This is the second article in a series on risk management for oil and gas operators. The first article appeared in the Aug. 22, 2005, issue of Insurance Journal West region edition on page 66. In the...
The Four C’s of Risk Management for Oil and Gas Operator – Managing Contracts
Dec 4 2005 // Editor’s note: This is the second article in a series on risk management for oil and gas operators. The first article appeared in the Aug. 22, 2005, issue of Insurance Journal West region edition on page 66. In the...
Shell Handles 4,000 Damage Claims from Oil Refinery Leak
Nov 28 2005 // A Martinez, Calif., Shell oil refinery leak that sprayed 150 gallons of oil over the downtown area could cost the company more than $1 million to clean buildings and vehicles. As of Nov. 22, more than 3,500 claims had been...
The Four C’s of Risk Management for the Oil and Gas Operator – Contracts
Nov 21 2005 // (Editor’s note: This is the second in a series of articles on risk management for oil and gas operators. The first appeared in the Aug. 22, 2005, issue of Insurance Journal–Texas/South Central.) In the first...
The Four C’s of Risk Management for the Oil and Gas Operator – Contracts
Nov 20 2005 // In the first article of this series we discussed the importance of the retail broker reading, studying and comprehending the various contracts that control the oil and gas operator’s world. There are two areas of...
IEA Study Forecasts 50% Growth in Energy Use; 52% Increase in Greenhouse Gas Emissions
Nov 8 2005 // An in depth study conducted by the Paris-based International Energy Agency forecasts a 50 percent rise in energy use between now and 2030. It also predicts a concurrent 52 percent rise in greenhouse gas emissions,...
After the Wreckage, Hurricane Katrina Spawns Lawsuits
Oct 3 2005 // Shortly after Hurricane Katrina devastated parts of Louisiana, Mississippi and Alabama, the U.S. Chamber Institute for Legal Reform issued a statement warning that the financial wreckage caused by Hurricane Katrina could...
After the Wreckage, Hurricane Katrina Spawns Lawsuits
Oct 3 2005 // Shortly after Hurricane Katrina devastated parts of Louisiana, Mississippi and Alabama, the U.S. Chamber Institute for Legal Reform issued a statement warning that the financial wreckage caused by Hurricane Katrina could...
Oil and Gas
Sep 5 2005 // Nuts and Bolts: American E&S has a new oil and gas insurance program focused on exploration and production companies. This new program features control of well insurance coverage at competitive rates, flexibility, and...
S&P Puts OIL’s ‘A+’ Ratings on Credit/Watch-Negative
Sep 1 2005 // Standard & Poor’s Ratings Services has registered a quick reaction to the ravages of Hurricane Katrina on the petroleum industry. S&P announced that it has placed its “A+” counterparty credit...
Negotiating the Highs and Lows in the Oil and Gas Market
Aug 22 2005 // Everything’s negotiable. If that’s not the key operational phrase in the oil and gas sector–both in terms of oil and gas production and insuring that risk–then it comes very close. Contracts rule in...
The Four C’s of Risk Management for the Oil and Gas Operator
Aug 22 2005 // In what seems a lifetime of handling risk management and insurance for oil and gas operators (well, I guess it is a lifetime if you are under 35 years of age), I have come to the realization that the functions to protect...
Oilfield Safety a Concern as Energy Demands Rise
Aug 22 2005 // As worldwide oil consumption and demand spirals upward so to does the stress on U.S. oilfield workers to meet those demands, according to the American Society of Safety Engineers’ (ASSE) Permian Basin Chapter in...
Oilfield Anti-Indemnity Acts and Their Impact on Insurance Coverage
Aug 22 2005 // In the oilfield, operators typically enter into Master Service Agreements with various contractors who supply services and materials needed in connection with the many and varied oilfield operations. The MSAs usually...
The Four C’s of Risk Management for the Oil and Gas Operator
Aug 22 2005 // The primary reason lawsuits occur is because the broker/ agent did not fulfill his responsibility of knowing his clients exposures and addressing them properly. In what seems a lifetime of handling risk management and...
Negotiating the Highs and Lows in the Oil and Gas Market
Aug 22 2005 // Everything’s negotiable. If that’s not the key operational phrase in the oil and gas sector-both in terms of oil and gas production and insuring that risk-then it comes very close. Contracts rule in the...
The Four C’s of Risk Management for the Oil and Gas Operator
Aug 22 2005 // The primary reason lawsuits occur is because the broker/ agent did not fulfill his responsibility of knowing his clients exposures and addressing them properly. In what seems a lifetime of handling risk management and...
