energy risk management News

Risk Management (or Lack Thereof) and Texas’ Deep Freeze Energy Failures

While renewable energy sources such as wind turbines and solar panels fuel a fraction of the state’s energy grid, the bulk of Texas’ power is supplied by natural gas, coal and nuclear plants, with natural gas power plants generating nearly …

Allianz Insurance Product Protects Firms Against Clean Energy Price Swings

Microsoft Corp. has helped develop a way to protect corporate buyers of clean power from electricity prices that go up and down with the weather. The company is using a risk-management tool called a volume-firming agreement for almost 500 megawatts …

Reported Dakota Access Pipeline Vandalism Exposes Risk of Sabotage

The developer of the Dakota Access pipeline has reported “recent coordinated physical attacks” on the much-protested line, just as it’s almost ready to carry oil. Texas-based Energy Transfer Partners didn’t give details, but experts say Dakota Access and the rest …

U.S. Refineries’ Accident Risk on Rise Due to Labor Shortage

After years of running flat out, U.S. Gulf Coast refiners are lining up repairs to plants in 2017 – but facing a severe labor shortage that could delay work, drive up costs and raise accident risks. Fuel producers such as …

New Verisk Unit to Serve Energy Sector Insurance, Risk Management

Verisk Insurance Solutions has launched a new energy insurance unit focused on risk assessment, rating, and risk modeling for the oil and gas, petrochemicals, power generation, and metals and mining industries. To develop the new unit for use by the …

Toward Sensible Risk Management of Earthquake Risk in Energy Production

Underground disposal of waste water produced from oil and natural gas wells has been blamed for triggering thousands of small earthquakes in Oklahoma and a number of other U.S. states since 2009. Heightened seismic activity corresponds closely with the timeframe …