Canadian Underwriter

Keyword
oil and gas

News Insurance

Abandoned oil and gas wells will be cleaned up despite backlog: Alberta regulator

May 31, 2021 Bob Weber - THE CANADIAN PRESS

EDMONTON – There’s lots of life in Alberta’s conventional oil industry and plenty of resources and political will to clean up the mess it leaves behind, says the head of the province’s energy regulator. “Will there be halcyon-days growth in

News Insurance

Fracking likely to create stronger, more common earthquakes in B.C., study says

May 26, 2021 Bob Weber - THE CANADIAN PRESS

More damaging earthquakes can be expected more often in northern British Columbia as fracking oil and gas wells increases pressure underground, says newly published research. “It makes earthquakes more common and it makes larger ones more common,” said Allan Chapman,

News Insurance

Study finds abandoned oil and gas wells place unfair burden on landowners, taxpayers

May 20, 2021 The Canadian Press

CALGARY – The costs of Alberta’s growing stock of abandoned and inactive oil and gas wells are falling unfairly on landowners and taxpayers, says a report from the University of Calgary. “Landowners have been left behind,” said Braeden Larson of

News Insurance

Study says easing rules on transfer of unreclaimed oil wells could speed cleanup

April 26, 2021 The Canadian Press

CALGARY – A report says Alberta should lower regulatory barriers that discourage businesses from reusing abandoned oil and gas wells. The Canada West Foundation and Energy Futures Lab say that could include allowing companies to sell off defunct energy infrastructure

News Insurance

Next round of funding available to clean up inactive Alberta oil and gas sites

February 16, 2021 The Canadian Press

EDMONTON – Alberta and the federal government say another $400 million in funding is available to help clean up inactive oil and gas sites in the province. The money includes $100 million for clean up in Indigenous communities. The rest

News Insurance

The growing cost to clean up abandoned and orphaned wells

October 16, 2020 The Canadian Press

This article was originally published on The Conversation, an independent and nonprofit source of news, analysis and commentary from academic experts. Disclosure information is available on the original site. Author: Kevin Kemball, Director – Centre for Boreal Research, Northern Alberta

News BrokersClaims CanadaCommercial LinesInsurance

Why depressed oil price matters to brokers

February 25, 2020 by Greg Meckbach

With 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

News ClaimsInsuranceMarkets / Coverages

Claims costs in oil and gas industry increasing despite downturn: forum speaker

November 2, 2017 Jason Contant, Online Editor

Despite 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

News InsuranceMarkets / CoveragesMergers and AqcuisitionsTechnology

EY polls Canadian oil & gas refinery operators on equipment failure

August 28, 2017 by Canadian Underwriter

Some 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

News CatastrophesClimate ChangeConstructionInsuranceLegislation / RegulationMarkets / Coverages

Alberta advisory group recommends penalties for heavy oilsands emitters if cap hit

June 19, 2017 Ian Bickis - THE CANADIAN PRESS

CALGARY – 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

News CatastrophesConstructionInsuranceLegislation / RegulationMarkets / Coverages

Auditor calls for better pipeline regulations, monitoring in Saskatchewan

June 7, 2017 Jennifer Graham - THE CANADIAN PRESS

REGINA – 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

News CatastrophesInsuranceMarkets / Coverages

Alberta to conduct review of liabilities associated with old oil and gas facilities

May 12, 2017 by Canadian Underwriter

Alberta 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