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US Insurers Invested in Fossil Fuels as Climate Risks to Underwriting Mount
Aug 8 2023 // U.S.-based insurers have invested hundreds of billions of dollars in fossil fuel-related assets which in turn contribute to the risk of climate-related damage to the underwriting side of their businesses, a new report said...
Ukraine’s Drone Attack Hasn’t Yet Jolted Insurance Costs for Black Sea Oil Carriers
Aug 8 2023 // A drone attack on a Russian oil tanker and a warning from Kyiv that more could follow has so far had little impact on insurance costs for oil and commodity carriers in the key Black Sea region, as rates were already...
Pipeline Operators to Pay $12.5M After Crude Oil Spills in Montana, North Dakota
Aug 3 2023 // The U.S. Environmental Protection Agency on Monday announced the settlement in a 2022 federal court lawsuit. Belle Fourche Pipeline Company and Bridger Pipeline LLC will pay the $12.5 million to resolve the claims made...
Operation Begins to Remove Oil From Rusting Yemen Tanker to ‘Avoid Catastrophe’: UN
Jul 27 2023 // An international team began siphoning oil out of a decrepit oil tanker off the coast of Yemen on Tuesday, the United Nations chief said, a crucial step in a complex salvage operation aiming to prevent a potential...
As Russian Oil Crosses G-7’s Price Cap, US Eyes Soft Enforcement
Jul 27 2023 // The Biden administration is poised to increase outreach to western trading houses, insurers and tanker owners to remind them to abide by the Group of Seven’s price cap on Russian oil as the crude trades over that...
Residents of Memphis Suburb Told to Avoid Tap Water After Fuel Spill
Jul 24 2023 // Residents of a Tennessee city must keep avoiding using their tap water after diesel fuel being used to power a generator at a treatment plant leaked into a reservoir, officials said Friday. Officials in the Memphis suburb...
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