Oil & Gas

The global energy industry is undergoing a dramatic shift as traditional refining processes evolve to meet the burgeoning demand for petrochemicals while contending with price volatility and environmental mandates. Navigating Global Energy Market Fluctuations The energy sector is no stranger...

Introduction In this technical briefing, we aim to provide an update on key Oil and Gas market indices and discuss whether we have moved past the significant volatility experienced between 2020 and 2024, or if the uncertainties persist in the...

One of the biggest trends shaping society today is the widespread adoption of Electric Vehicles (EVs). While Tesla pioneered this movement as a disruptor, nearly every automobile manufacturer worldwide is now actively developing its own electric vehicles. Governments have implemented...

Before we discuss the carbon capture process and how it is used, it is worthwhile conceptualising the carbon emissions emitted worldwide and why different technologies, including carbon capture, must be considered as part of the energy transition. As can be...

There has been a significant push towards transitioning to cleaner and renewable energy sources, moving away from fossil fuels due to their environmental impact. By looking at the past, the present and the future, the question remains: can we realistically...

In this briefing, we discuss various considerations in upstream oil and gas production losses, and in particular how rates of production depend on the type of well.  We also discuss what the shift to horizontal drilling and hydraulic fracturing means...

Our first technical briefing introduced the Oil & Gas value chain, divided into: i) upstream; ii) midstream; and iii) downstream.  Here is a recap, before we explore natural gas in more detail. Upstream: this involves the exploration and extraction of...

The sanctions imposed on Russia amid the Russia-Ukraine conflict have impacted global gas markets, particularly those in Europe.  Russia is the second largest producer of natural gas globally and used to supply about 40% of Europe's natural gas.  However, supplies...

As the Ukrainian conflict unfolds, Europe’s energy dependence on Russia becomes an increasingly critical bargaining tool. The economic sanctions imposed by some Western nations in response to Russia’s invasion appear to be increasingly directed against Russian oil and gas supplies...

When it comes to Business Interruption policies for Oil & Gas risks, there are different types of coverage available in the market, including Gross Profit, Gross Earnings, Specified Standing Charges etc. Common Policy Wordings Gross Profit equates to Turnover less...

The use of Linear Program models is common in refining, and other industries, to optimise their activities by using an algorithm subject to a set of inputs, constraints, and relationships. This article discusses the LP models in more detail and...

The main types of jet fuels used by airlines are Jet A-1, Jet A and Jet B. Jet A is mainly used in the United States, whereas Jet A-1 is commonly used outside the United States and Jet B is...

Covid-19 has led to major disruptions across various sectors and the petroleum industry is no exception.  Demand for oil and petroleum products, in general, declined due to reduced economic activity as governments worldwide imposed lockdowns and tightened border controls. Certain...

The UK’s energy wholesale markets have reached new highs, with daily average electricity prices rising above GBP 150 per MWh since early September 2021. A record high of GBP 424 per MWh, since at least January 2019, was reached on...

The Oil and Gas industry in the insurance market is usually categorised between Onshore/Offshore or Upstream/Downstream. It includes a chain of businesses relating to extraction, transportation, refining, petrochemical and chemical – essentially from the carbon in the ground to the...

With a typical Energy claim standing at approximately USD 4.5 million, it’s no surprise that Business Interruption (BI) is once again the #1 business risk for the fourth year in a row[i]. To help insurers mitigate their exposure when an...

The case of Varco Canada Limited v. Pason Systems Corp., 2013 FC 750 (CanLII) involved an award of over $52M based on an accounting of the defendant’s profits. Perhaps more importantly, the decision sheds light on a number of conceptual...