RE:RE:Explosion at syncrudenamsoc wrote: Hopefully it is not a big problem. Note that they have Business interuption insurnace. See below.
"Canadian Oil Sands also reduces exposure to some operational risks by maintaining appropriate levels of insurance, primarily business interruption (“BI”) and property insurance. The Corporation has purchased total coverage of approximately U.S. $1.3 billion of combined BI and property insurance, net to Canadian Oil Sands, in case Syncrude experiences an event causing a loss or interruption of production, such as a fire or explosion at the operating facilities. The BI insurance is subject to an approximate average 90-day self-retention period. While such insurance mitigates the impact of certain operational upsets, insurance is unlikely to fully protect against catastrophic events or prolonged shutdowns."
Ironically, COS could end up making more money from the insurance then actual production!