energy risks News

Contaminated Oil Linked to U.S. Reserves Raises Safety Concerns

Exxon Mobil Corp. is the latest company to raise concerns that a stockpile of U.S. government crude is tainted with poisonous gas. The American energy giant said some of the oil it purchased last year from the Energy Department’s Strategic …

Verisk Launches New Energy Insurance Platform for Insurers

Verisk, a data analytics provider, has launched Energy & Power Intelligence Xchange (EPIX), a benchmarking and risk-scoring platform designed to enhance how insurers research, assess, and underwrite complex energy risks. EPIX provides a range of information on energy risks and …

World Energy Council Report Warns on Extreme Weather Risks

The number of extreme weather events increased more than four times from only 38 events in 1980 to 174 in 2014, according to The World Energy Council. The report warns that not all energy infrastructure is prepared for extreme weather, …

Pipeline Explosion in South Texas Injures 2; Spurs Evacuations

Authorities say the explosion of a natural gas pipeline near the small South Texas town of Falfurrias injured two people and prompted the evacuation about 150 homes. An official with the Brooks County sheriff’s office said the explosion occurred at …

J.H. Blade Launches Pollution Response Service for Energy Risks

National upstream oil and gas energy MGA J.H. Blades & Co. Inc., along with the Swett & Crawford Dallas Energy team and the recently-acquired Burke Daniels Inc., have joined forces with Wild Well Control Inc. to launch an early intervention …

Kentucky Enters into Fracking Debate

The debate over hydraulic fracturing, a technique used to drill oil and natural gas wells, may be coming to Kentucky. The Lexington Herald-Leader reports there’s been increased interest among oil and gas companies in areas of eastern and central Kentucky. …

Complex Energy Industry Requires ‘Power’ Underwriters

The energy industry is not a risk for every underwriter; it requires considerable underwriting expertise due to its complexity and rapid growth. “Power is one of the fastest growing segments in the U.S,” according to Tom Fitzgerald, CEO of Aon …

BP Gross Negligence Ruling a Warning to Big Oil and Partners

A U.S. judge’s watershed ruling means the final cost to BP Plc for the 2010 Gulf oil spill may eclipse $50 billion, wiping out years of profits and highlighting the risks of drilling as the industry pushes into more dangerous …