Petrochemicals

  • One Trillion Cubic Feet of Natural Gas. How would you manage the risk?

    Let’s talk about the risks associated with operating a one trillion cubic foot natural gas storage resource. 20% of the capacity is residual. 50% of the working capacity is owned and the other 50% is leased to other gas owners. Describe the risks involved and discuss Maximum Foreseeable Loss scenarios. Operating a one trillion cubic… Read more

  • Property Risks during Turnarounds and Outages

    Let’s discuss the property risks associated with major “turn around” or “planned outage” projects in petrochemical and power plants. Major “turn around” or “planned outage” projects in petrochemical and power plants carry certain property risks that need to be carefully managed. Here are some of the key property risks associated with such projects: To manage… Read more

  • What is a “Quota Share” arrangement for Insurance?

    Let’s discuss “quotashare” insurance programs for large technical risks such as energy facilities. “Quotashare” insurance programs, also known as quota share arrangements, are a type of insurance agreement commonly used for large technical risks such as energy facilities. In a quota share arrangement, multiple insurers come together to share the risks and premiums associated with… Read more

  • Choosing the right Energy Broker

    Let’s discuss RFPs for insurance brokerage services for a large energy company. Request for Proposals (RFPs) for insurance brokerage services are common when a company, such as a large energy company, seeks to engage an insurance broker to handle their insurance needs. RFPs allow companies to gather information, evaluate potential brokers, and make an informed… Read more

  • Improving Communication in Industrial Facilities

    Let’s discuss how to develop improved interdepartmental communications in petrochemical and power plants. Improving interdepartmental communications in petrochemical and power plants is crucial for ensuring operational efficiency, safety, and effective collaboration among various teams. Here are some strategies that can help develop and enhance interdepartmental communications in these types of facilities: Remember that the implementation… Read more

  • What Qualities make an Excellent Energy Engineer? – Let’s ask AI

    Let’s discuss the qualities of an excellent energy engineer. An excellent energy engineer possesses a combination of technical expertise, analytical skills, and a commitment to profitable and efficient energy solutions. Here are some key qualities of an excellent energy engineer: These qualities collectively contribute to the success of an energy engineer in addressing the challenges… Read more