Tysers’ Post

Did you know that a holder of prospecting & or mining right in Kenya is required by law to maintain insurance cover for Health and Safety risks of its workforce. For compliance purposes, the holder requires an elaborate OHS policy and budget.How can we elevate our ASM sector to cater for such risks which are eminent in this sub group #Safety #Health #Mining #Consultancy #Artisanalmining

Over the last three years, Pakistan's electricity distribution and generation corporations have engaged in financial irregularities totaling more than Rs9.5 trillion, according to an audit report submitted to the National Assembly. In the fiscal year 2023–2024 alone, there were Rs5,145 billion in disparities. Action against 72 officials implicated in these financial violations was demanded by the Auditor General of Pakistan (AGP), who filed 111 audit objections. With Rs2,734 billion, the Central Power Purchasing Agency (CPPA) reported the most anomalies, followed by Quetta Electric Supply Company (QESCO) with Rs1,164 billion. Other impacted businesses include GENCO-I and GENCO-II, as well as Lahore Electric Supply Company (LESCO) and Peshawar Electric Supply Company (PESCO). Significant losses have resulted from these anomalies, which has further impacted the national electricity sector's financial stability. #AuditReport #FinancialIrregularities #PowerSectorCrisis #AGPReport #PakistanPowerSector #AccountabilityNeeded #FiscalTransparency #NationalAssemblyUpdate #CPPAIrregularities #EnergySectorChallenges

Here are several reasons why every country should utilize insurance to safeguard its oil and gas resources: 1. Operational Hazards: Well blowouts, equipment failures, and accidents can lead to significant financial losses. In 2022, the average cost of an offshore accident was estimated at $38 million. 2. Environmental Damage: The 2010 Deepwater Horizon disaster resulted in over $65 billion in damages, highlighting the potential scale of environmental liabilities. 3. Business Interruption: With oil prices averaging around $75 per barrel in 2023, even short-term disruptions can lead to substantial revenue losses for oil-dependent economies. 4. Political Risks: Many oil-producing regions face geopolitical instability, making it essential to have coverage against expropriation, war, and civil unrest. 5. Cyber Threats: The energy sector has become a prime target for cyberattacks, with a reported 238% increase in attacks in 2022. For oil-dependent countries, insurance not only protects against financial losses but also ensures the stability of government revenues and supports economic diversification efforts. As the industry faces increasing scrutiny over environmental concerns and shifts toward cleaner energy, comprehensive insurance coverage becomes even more critical in managing the evolving risk. #insurance #reinsurance #oilandgas #business

NEW - Learn how Nama Electricity Distribution Company (NEDC) Strengthen Asset Security with GIS The GIS-enabled Asset Security Campaign has significantly enhanced asset safety and regulatory compliance. With over 15,000 substations inspected across Muscat and South Al Batinah, NEDC swiftly addressed immediate hazards while developing a strategic approach for long-term maintenance. By standardizing asset management processes, NEDC reduced APSR-imposed fines and bolstered its public safety record and organizational reputation. Pic below: Asset Security Dashboard: Real-Time Statistics and Issue Tracking https://lnkd.in/ep9nFwUS #esri #arcgis #gis #utilities #electricity #asset #security #NEDC #muscat #oman

Ion meters are instrumental in water quality monitoring, assisting insurers in assessing risks related to properties in areas with poor water quality. In quality control processes, ion meters are invaluable, especially in industries involving chemical production or processing. By monitoring ion concentrations, financial institutions ensure product quality and safety, mitigating risks associated with defective or substandard products. Moreover, these meters aid in corrosion risk assessment, providing insights into the potential long-term impacts of corrosive ions on materials used in construction or infrastructure projects.

The #QE Index and the #QETF both closed higher for the week by +2.67%. For the week, the index witnessed 14 advancers against 6 decliners. Leadership in terms of price performance, for the week, came from #Commercial Bank +7.90%, #Qatar Gas Transport ‘Nakilat’ +7.88%, and #Qatar Electricity & Water +4.68%. The #QETF is a great investment tool towards diversification and gaining a broader exposure to the QE Index. www.qetf.com.qa   #Qatar_Stock_Exchange #Doha_Bank #Qatar_Bursa #Investing_in_Qatar #Exchange_Traded_Funds

Any business relying on machinery is at risk of significant financial losses due to breakdowns. Bester Els from Aon South Africa highlights the importance of equipment breakdown insurance and proactive risk management. The global market is expected to grow significantly, driven by increasing reliance on sophisticated machinery. Learn more about how to mitigate these risks and ensure operational efficiency - please click below 👇 #RiskManagement #Insurance #Machinery #BusinessContinuity #AonSouthAfrica Follow Capital Equipment News Magazine and please subscribe at no cost to you:

Middle East and Africa #Property_Insurance_Market is expanding due to rapid #urbanization, an increasing number of #building and #construction projects, growing awareness about #risk_management, and the need for obtaining risk coverage against #natural_disasters. 🌐𝐑𝐞𝐪𝐮𝐞𝐬𝐭 𝐭𝐨 𝐁𝐥𝐮𝐞𝐖𝐞𝐚𝐯𝐞 𝐅𝐨𝐫 𝐒𝐚𝐦𝐩𝐥𝐞 𝐂𝐨𝐩𝐲 𝐨𝐟 "𝐌𝐢𝐝𝐝𝐥𝐞 𝐄𝐚𝐬𝐭 𝐚𝐧𝐝 𝐀𝐟𝐫𝐢𝐜𝐚 𝐏𝐫𝐨𝐩𝐞𝐫𝐭𝐲 𝐈𝐧𝐬𝐮𝐫𝐚𝐧𝐜𝐞 𝐌𝐚𝐫𝐤𝐞𝐭"@ https://lnkd.in/gvjxyrFU ⏹𝐌𝐚𝐣𝐨𝐫 𝐜𝐨𝐦𝐩𝐚𝐧𝐢𝐞𝐬: ☑RSA, ☑AXA Gulf, ☑Oman Insurance Company, ☑Qatar Insurance Group ☑Alliance Insurance. ☑Abu Dhabi National Insurance Company PJSC, and ☑SANAD Cooperative Insurance and Reinsurance Company, 📢𝐌𝐚𝐫𝐤𝐞𝐭 – 𝐁𝐲 𝐀𝐩𝐩𝐥𝐢𝐜𝐚𝐭𝐢𝐨𝐧: Middle East and Africa #Property_Insurance Market is divided into #Personal and #Enterprise segments. The enterprise segment emerges as a leading #application, showcasing robust growth and significant #market_share. The segment caters to the insurance needs of #businesses, #industries, and #commercial_properties, reflecting a growing demand for comprehensive coverage in the region. #Blueweave, #Consulting #marketresearch #marketforecast #bfsi

NIGERIA’S oil sector is in urgent need of salvaging. The drop in crude oil production from 1.32 million barrels per day in February to 1.23mbpd in March, per OPEC, means that output plunged by 91,000bpd. This translates to a loss of N720 billion. For decades, Nigeria has been plagued by oil theft and pipeline vandalism. To recover the losses, the Federal Government needs to recalibrate the security architecture in the Niger Delta to curb the menace. The Minister of State for Petroleum Resources (Oil), Heineken Lokpobiri, attributed the shortfall in expected production to problems with the Trans Niger Pipeline and maintenance carried out by some oil companies. Oil thieves and vandals have consistently sabotaged oil production in the Niger Delta, contributing to the country’s abysmal output. https://lnkd.in/eaiE6Fxu #oiltheft #petroleum #governance

Bangladesh Bank has issued a notice today raising the interest rate on a pre-finance facility under a support safety retrofits and environmental upgrades programme (SREUP) to 7 percent from 5 percent. Bangladesh Bank has issued a notice today raising the interest rate on a pre-finance facility under a support safety retrofits and environmental upgrades programme (SREUP) to 7 percent from 5 percent. #sreup #bb #interest