Latest Energy Headlines

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,...

Report Pits Oil Against La. Oyster Farmers

Mar 29 2007 // Some oyster farmers in Louisiana may be using unused leases solely in hopes of collecting damage settlements from oil companies, according to a new report that is sparking tension between the seafood and energy...

Travelers O&G Rolls Out Emergency Response Plan for Managing Blowouts

Mar 5 2007 // Travelers Oil & Gas recently launched an emergency response planning guide for managing well blowouts that occur on U.S. oil and gas land drilling operations. According to the company announcement, it is the...

Marsh CEO Opens National Oil Company Conference with a Warning

Feb 27 2007 // Brian Storms, Chairman and CEO of Marsh Inc, speaking at the opening of the Marsh National Oil Company conference in Dubai, told delegates: “The world’s desire for environmentally-friendly energy sources...

Ind. Senator: Insurers Should Be Voice on Energy Alternatives, Climate Changes

Feb 22 2007 // If the United States is to move beyond a petroleum-based economy, it will require a stronger commitment by government, industry, and non-governmental leaders, U.S. Sen. Richard G. Lugar said recently in a wide-ranging...

Willis: Houston Energy Hub Home to 50% of World’s Downstream Capacity

Feb 21 2007 // With nearly $1 billion of commercial market capacity for downstream risks, representing approximately 50 percent of the total realistic amount available worldwide, Houston is emerging as a major center for downstream...

Marsh to Host Dubai Oil Conference

Feb 8 2007 // Marsh Inc. will host the first ever global risk advisory meeting of the world’s national oil companies (NOCs) at a conference in Dubai on 26-28 February. “These state-owned enterprises manage roughly 80 percent...

Judge Approves Deal Over Katrina-Related Urban Oil Spill in La.

Feb 1 2007 // A federal judge on Jan. 30 approved a settlement between Murphy Oil Corp. and about 6,000 St. Bernard Parish, La., homeowners over an oil spill that happened during Hurricane Katrina. In a three-page ruling, U.S. District...

Swiss Re Advisors See Big Demand for Energy Risk Underwriting

Nov 29 2006 // Major global political and business leaders say energy issues are high on their agenda and that the demands and risk transfer needs of this sector pose challenges and opportunities for insurers and reinsurers. At Swiss...