Canadian Underwriter

Keyword
oil and gas

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

Christof Bentele, Head of Global Crisis Management, Allianz Global Corporate & Specialty
News InsuranceMergers and Aqcuisitions

Terrorist attack on extraction companies likely low, cyber risk increase as refining process advances

April 28, 2017 Angela Stelmakowich, Editor

PHILADELPHIA – 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

News CatastrophesInsuranceMarkets / Coverages

After new energy regulations, Oklahoma’s earthquake rate drops

November 30, 2016 Seth Borenstein - THE ASSOCIATED PRESS

WASHINGTON – 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

News ConstructionInsuranceLegislation / RegulationMarkets / CoveragesMergers and Aqcuisitions

Saskatchewan government introduces act aimed at enhancing regulatory oversight of provincial pipelines

November 29, 2016 by Canadian Underwriter

The 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

News CatastrophesConstructionInsuranceLegislation / RegulationMarkets / Coverages

Regulators: Close more disposal wells after Oklahoma quake

November 9, 2016 The Associated Press

OKLAHOMA 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

News CatastrophesConstructionInsurance

4.8 magnitude earthquake in Texas in 2012 triggered by wastewater injection, study confirms

September 26, 2016 by Canadian Underwriter

A 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

News CatastrophesInsuranceMergers and Aqcuisitions

Oklahoma experiences strongest earthquake in five years, officials probing possible connection with oil and gas activities

September 4, 2016 by Canadian Underwriter

The 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

News CatastrophesInsuranceLegislation / RegulationMarkets / Coverages

Drillers, regulators can lessen earthquakes likely caused by wastewater injection, new research reveals

August 29, 2016 by Canadian Underwriter

Actions taken by drillers and regulators can lessen risk in the case of earthquakes likely caused by the injection of industrial wastewater deep underground, according to new research from the U.S. Geological Survey (USGS) and the University of Colorado. While