Keyword
oil and gas
Why depressed oil price matters to brokers
February 25, 2020 by Greg MeckbachWith oil prices down nearly 30% over 16 months and bankruptcies on the rise, now might be a good time for brokers to check their oil and gas clients’ insurance policies – especially their directors’ and officers’ (D&O) coverage. Among…
Claims costs in oil and gas industry increasing despite downturn: forum speaker
November 2, 2017 Jason Contant, Online EditorDespite the downturn in the oil and gas industry, claims costs are increasing, a speaker said on Thursday at the Canadian Risk and Insurance Education Forum. “I would suggest that in the upstream oil and gas industry – where most…
EY polls Canadian oil & gas refinery operators on equipment failure
August 28, 2017 by Canadian UnderwriterSome operators of Canadian oil and gas upgraders and refiners are delaying scheduled maintenance due to budget cuts and there is a heightened risk of equipment failure, especially with valves and pumps, Ernst & Young LLP suggested in a recent…
Alberta advisory group recommends penalties for heavy oilsands emitters if cap hit
June 19, 2017 Ian Bickis - THE CANADIAN PRESSCALGARY – Oilsands producers could face steep fines and suspended projects if industry comes close to hitting a mandated 100-megatonne limit under recommendations proposed by Alberta’s Oil Sands Advisory Group. But the non-binding report sets out a series of policies…
Auditor calls for better pipeline regulations, monitoring in Saskatchewan
June 7, 2017 Jennifer Graham - THE CANADIAN PRESSREGINA – Saskatchewan’s provincial auditor says the government isn’t doing enough to effectively regulate oil and gas pipelines. Judy Ferguson says in her annual report that as of the end of March, the Ministry of the Economy did not have…
Alberta to conduct review of liabilities associated with old oil and gas facilities
May 12, 2017 by Canadian UnderwriterAlberta Energy has announced that it is conducting a review of old oil and gas wells and facilities and their associated liabilities. The province is working with industry and experts to find ways to better protect Albertans and the environment…
Terrorist attack on extraction companies likely low, cyber risk increase as refining process advances
April 28, 2017 Angela Stelmakowich, EditorPHILADELPHIA – Resources extraction industries are certainly not alone in facing cyber risk, but the risk of a related terrorism attack would most likely be higher later in the refining process, suggested Christof Bentele, head of global crisis management for…
After new energy regulations, Oklahoma’s earthquake rate drops
November 30, 2016 Seth Borenstein - THE ASSOCIATED PRESSWASHINGTON – The rate of earthquakes in Oklahoma has dropped dramatically since late May, when the state limited wastewater injections into energy wells, an Associated Press statistical analysis shows. And a new scientific study says the state is on its…
Saskatchewan government introduces act aimed at enhancing regulatory oversight of provincial pipelines
November 29, 2016 by Canadian UnderwriterThe Government of Saskatchewan announced on Monday that it has introduced new legislation aimed at enhancing regulatory oversight of the province’s oil and gas industry. The government introduced The Pipelines Amendment Act in the Legislature, replacing The Pipelines Act, the…
Regulators: Close more disposal wells after Oklahoma quake
November 9, 2016 The Associated PressOKLAHOMA CITY – Oklahoma regulators are ordering the shutdown of more disposal wells and restricting the volume of others near where a magnitude 5.0 earthquake struck. The plan released Tuesday by the Oklahoma Corporation Commission’s Oil and Gas Division requires…
4.8 magnitude earthquake in Texas in 2012 triggered by wastewater injection, study confirms
September 26, 2016 by Canadian UnderwriterA 4.8 magnitude earthquake that “rattled residents” and damaged buildings in East Texas in 2012 was triggered by the injection of large volumes of wastewater from oil and gas activities into rocks deep beneath the surface, confirmed a new satellite…
Oklahoma experiences strongest earthquake in five years, officials probing possible connection with oil and gas activities
September 4, 2016 by Canadian UnderwriterThe governor of Oklahoma has declared a state of emergency for Pawnee County following a magnitude 5.6 earthquake that occurred early Saturday morning. The earthquake was felt in multiple states and was the strongest the state has experienced since November…