Latest Energy Headlines

Ratings Recap; OIL; Talanx; HDI; Trust; AUGI; Fuji Fire, Pioneer (NZ)

Jul 13 2007 // Standard & Poor’s Ratings Services has affirmed its ‘A-‘ counterparty credit and financial strength ratings on Oil Insurance Ltd. (OIL) and removed them from CreditWatch with negative implications,...

Texas Oil and Gas Contracting Firm Indicted for Workers’ Comp Fraud

Jul 10 2007 // Texas Mutual Insurance Company reported that a Travis County grand jury indicted ZIPCO Services Inc. and its owner, Jerry Don Calicutt, on workers’ compensation fraud-related charges. The indictments allege that...

Lloyd’s Ascot Launches Renewable Energy Insurance Program

Jul 6 2007 // Lloyd’s Ascot Underwriting, which operates Syndicate 1414 and is backed by AIG, announced the establishment of its new renewable energy operation, Renewco Underwriting. Ascot described Renewco as the “first...

ACE Europe Launches Renewable Energy Coverage

Jul 6 2007 // The ACE European Group announced the launch of “ACE Renewable Energy,” a new program which it described as “an innovative insurance solution for UK renewable energy producers and providers in a single...

N.H. Oil Firm Blames Shutdwn on Unpaid Insurance Bill

Jun 25 2007 // New Hampshire customers who were stranded after their oil company shut its doors in April confronted the company’s owners last Friday at a creditors’ hearing in Concord. Rumford Energy closed without warning,...

Appeals Court Gives Mass. Anti-Oil Spill Law Another Chance

Jun 25 2007 // In a case stemming from a devastating oil spill, a federal appeals court in Boston sided with environmentalists and ordered a new hearing on a Massachusetts law aimed at preventing such disasters. The Legislature passed...

Oil Industry Develops New Safety Standards for Hazardous Worksites

Jun 22 2007 // An oil industry trade group said it has developed standards to better protect workers from explosions like the 2005 BP refinery in Texas explosion that killed 15 people and injured 170. The American Petroleum...

Unsafe Work Conditions Caused Fatal Miss. Explosion, Feds Say

Jun 14 2007 // Unsafe work conditions contributed to a deadly oilfield explosion in Smith County, Miss., in 2006, the U.S. Chemical Safety Board said this week. The board, an independent federal agency charged with investigating...

S&P Raises Neftepolis Outlook to Positive; Affirms ‘B+’ Ratings

Jun 7 2007 // Standard & Poor’s Ratings Services has revised its outlook on Russia-based insurer Neftepolis Insurance Co. LLC to positive from stable, “as a result,” said the announcement, “of closer...

Jun 4 2007 // People Chicago-based Aon Corp. reported that David P. Bolger, executive vice president, chief financial officer and chief administrative officer, will leave the company after the appointment of his successor. Bolger will...

U.S. Oil Industry Preps for Gulf Storm Season

May 30 2007 // If you think gasoline prices are high now, consider the eye-popping possibilities if another monster storm pummels the Gulf of Mexico this hurricane season, the way Katrina and Rita battered the petroleum-rich waters in...

Stokes, Sexton to Lead New Marsh Energy Team

May 23 2007 // The London office of Marsh Inc. announced that it has established a dedicated Renewable Energy Team, to be headed by Susan K. Stokes and Tom Sexton as its co-leaders. The team will work closely with Marsh’s Global...

Stokes, Sexton to Lead Marsh Renewable Energy Unit

May 22 2007 // Marsh Inc. has established a dedicated Renewable Energy Team and named Susan K. Stokes and Tom Sexton as its co-leaders. The team will work with the firm’s Global Marine and Energy Practice and the Power and...

S&P Places OIL Ratings on Watch/Neg

Apr 25 2007 // Standard & Poor’s Ratings Services has placed its “A-” counterparty credit and financial strength ratings on Oil Insurance Ltd. (OIL) on CreditWatch with negative implications. “The CreditWatch...

Okla. Royalty Owners: Tort Reform Bill Would Keep Most Out of Settlements

Apr 24 2007 // Oklahoma’s landscape is in constant motion with the activity of oil wells, their seesaw-like movements pumping oil and natural gas to the surface and fueling the state’s economy. Oil wells are also a source of...

News Currents

Apr 23 2007 // High gas prices won’t put a damper on travel and watersports Water sports enthusiasts, motorcyclists and RV roadsters aren’t going to let high gas prices ruin their summer fun. They are willing to “pay to...

Swiss Re $426 Million European Clean Energy Fund Fully Subscribed

Apr 16 2007 // Swiss Re announced that it has successfully closed the €329 million ($446 million) European Clean Energy Fund to further investment. “The Fund, a UN accredited investment vehicle, provides capital to European clean...

OIL AND GAS RISKS

Apr 9 2007 // IDENTITY THEFT High loss in low-tech crime SHAKY FOUNDATION? Earthquake Authority losing funding

Oil drilling risks rise with novice crews

Apr 9 2007 // As the oil industry cycles into a drilling boom, the shortage of experienced workers raises safety issues that smart companies are working hard to address. Oil production has always been a boom-and-bust industry. At the...

Underwritiers weigh design, construction of offshore oil platforms

Apr 9 2007 // Not all offshore platforms are created equal, which is why one platform will survive a storm unscathed while another nearby is completely obliterated. In order to appropriately underwrite offshore platform risk,...