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Key Takeaways:
The fall is turnaround season for petrochemical plants and refineries. 2023 and 2024 are expected to be the biggest turnaround years since 2019, after many plants put off turnarounds to catch up from pandemic delays.
Bloomberg forecasts overall U.S. oil and gas production will drop by 2.5 million barrels per day, 11% more than last year, while refineries close for their 2-3 week long turnarounds. Refineries will keep their turnarounds as short as possible, but rushing can easily lead to mistakes or injuries. Finding the right insurance coverage for refineries is key!
Explore insurance solutions for businesses focused on turnarounds from Kinsale’s Energy Division. We can offer coverage options for consultants, engineers, scaffolding companies, welders, and many types of repair and maintenance contractors needed for turnaround work.
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