Italy's largest insurance company expands its oil and gas exclusion list
Generali, an Italian insurer, will not provide new insurance to companies that are involved in the transportation, processing, and distribution of oil and gas if their energy transition plans are inadequate, according to a statement posted on its website. Generali has announced that it will not provide insurance policies to cover risks associated with "midstream" or "downstream" oil-and-gas projects, such as new terminals for liquefied natural gas…
Allianz Limits Coal Insurance Policies
Germany's Allianz will immediately stop insuring single coal-fired power plants and coal mines, the company said on Friday, following criticism from environmental groups. But Allianz said it would continue to insure companies generating power through multiple sources, including coal and other fossil fuels. It wants to phase out any coal insurance by 2040, it said. Environmentalists said the measures were a step in the right direction but one group, Unfriend Coal, said the deadline of 2040 was too distant.
Faststream Adds Eight Recruiting Staff
Recruiting hires reflect demand for talent in the oil and gas and maritime sectors, across the U.S. Faststream, an oil and gas and maritime recruiting and staffing services company, hired eight recruiters in its Houston and Fort Lauderdale offices to focus solely on placing talent within the oil and gas and maritime sectors, reflecting the market needs and industry demands for qualified, experienced and well-trained talent.
North Kendang-2 Drilling Completed
Salamander Energy plc announces that drilling operations on the North Kendang-2 exploration well (“NK-2”) in its operated South East Sangatta PSC have now been concluded. The well reached a total depth of 2,569 metres true vertical depth sub-sea and encountered two hydrocarbon bearing intervals, one of which was the primary objective zone of high pressure encountered in the North Kendang-1 (“NK-1”) well. This was successfully penetrated in NK-2 and comprised a 2.5m gas condensate bearing sand.
Spud Of North Kendang-2 Exploration Well - Salamander
Salamander announces the spud of the North Kendang-2 exploration well (“NK-2”), a re-drill of the North Kendang-1 (“NK-1”) well in the South East Sangatta PSC. Salamander has a 75% operated interest in the South East Sangatta PSC. NK-2 will be drilled to a depth of approximately 2,878 m total vertical depth sub-sea (“TVDSS”) in order to evaluate the Upper Miocene section. The Ocean General semi-submersible rig…
