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Top 15 World Property Damage Losses In The Hydrocarbon Industry (1)
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(US $ millions)

Rank Date Plant type Event type Location Country Property loss (2)
1 Jul. 7, 1988 E&P offshore (3) Explosion, fire Piper Alpha, North Sea U.K. $1,960
2 Jan. 11, 2017 Refinery Fire Ruwais, Abu Dhabi U.A.E 1,000+
3 Oct. 23, 1989 Chemical Explosion, vapour cloud explosion Pasadena, Texas U.S. 1,520
4 Mar. 19, 1989 E&P offshore (3) Explosion, fire Baker, Gulf of Mexico U.S. 900
5 Mar. 15, 2001 E&P offshore (3) Explosion Rancador Field, Campos Basin Brazil 850
6 Sep. 25, 1998 Gas processing Explosion, vapour cloud explosion Sale, Longford, Victoria Australia 810
7 Apr. 24, 1988 E&P offshore (3) Blowout Enchova, Campos Basin Brazil 760
8 Sep. 21, 2001 Fertilizer Explosion Toulouse France 730
9 Jun. 25, 2000 Refinery Explosion, fire Mina Al-Ahmadi Kuwait 720
10 May 4, 1988 Chemical Explosion Henderson, Nevada U.S. 690
11 Jan. 19, 2004 Gas processing Explosion, fire Skikda Algeria 690
12 Apr. 1, 2015 E&P offshore (3) Fire Abkatun, Bay of Campeche Mexico 690
13 May 5, 1988 Refinery Explosion, vapour cloud explosion Norco, Louisiana U.S. 670
14 Mar. 11, 2011 Refinery Explosion, fire Sendai Japan 650
15 Apr. 21, 2010 E&P offshore (3) Explosion, fire Gulf of Mexico U.S. 640

(1) Property damage only.
(2) Inflated to December 2017 values.
(3) Exploration and production.

Source: The 100 Largest Losses, 1978-2017, March 2018, Marsh & McLennan Companies.

 

Archived Tables

TOP 20 WORLD PROPERTY DAMAGE LOSSES IN THE HYDROCARBON INDUSTRY (1)
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(US $ millions)

Rank Date  Plant type  Event type  Location  Property loss (2)
1 Jul. 7, 1988 Upstream  Fire/explosion North Sea, UK (Piper Alpha) $1,600
2 Oct. 23,1989 Petrochem  Vapour cloud explosion  Texas, USA   1,300
3 Mar. 19, 1989 Upstream  Fire/explosion  Gulf of Mexico, USA  750
4 Sep.12, 2008 Refinery  Hurricane  Texas, USA  750
5 Jun. 4, 2009 Upstream  Collision  North Sea, Norway  750
6 Aug. 23, 1991 Upstream  Structural failure  Sleipner, North Sea, Norway  720
7 May 15, 2001 Upstream  Explosion/ fire/sinking  Campos Basin, Brazil  710
8 Sep. 25, 1998 Gas processing  Vapour cloud explosion  Victoria, Australia  680
9 Apr. 15, 2003 Upstream  Riot  Escravos, Nigeria  650
10 Apr. 24, 1988 Upstream  Fire  Campos Basin, Brazil  640
11 Sep. 21, 2001 Petrochem  Explosion  Toulouse, France  610
12 Jun. 25, 2000 Refinery  Vapour cloud explosion  Mina Al-Ahmadi, Kuwait  600
13 May 4, 1988 Petrochem  Explosion  Nevada, USA  580
14 Jan. 19, 2004 Gas processing  Fire/explosion  Skikda, Algeria  580
15 May 5, 1988 Refinery  Vapour cloud explosion  Louisiana, USA  560
16 Nov. 1, 1992 Upstream  Mechanical damage  North West Shelf, Australia  470
17 Nov. 14, 1987 Petrochem  Vapour cloud explosion  Texas, USA  430
18 Dec. 25, 1997 Gas processing  Fire/explosion  Sarawak, Malaysia  430
19 Jul. 27, 2005 Upstream  Fire/explosion  Mumbai High field, India   430
20 Jan. 20, 1989 Upstream  Blowout  North Sea, Norway  410

(1) According to the report, “these costs, to the extent insurance is applicable, are paid by property insurance underwriters.
(2) Inflated to December 2009 values.

Source: Marsh Energy Practice.

 
Top 20 World Property Damage Losses In The Hydrocarbon Industry (1)
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(US $ millions)

Rank Date Plant type Event type Location Country Property loss (2)
1 Jul. 7, 1988 Upstream Explosion/fire Piper Alpha, North Sea U.K. $1,810
2 Oct. 23,1989 Petrochem Vapour cloud explosion Pasadena, Texas U.S. 1,400
3 Jan. 19, 2004 Gas processing Explosion/fire Skikda Algeria 940
4 Jun. 4, 2009 Upstream Collision Norwegian Sector North Sea 840
5 Mar. 19, 1989 Upstream Explosion/fire Gulf of Mexico U.S. 830
6 Jun. 25, 2000 Refinery Explosion/fire Mina Al-Ahmadi Kuwait 820
7 May 15, 2001 Upstream Explosion/fire/sinking Campos Basin Brasil 790
8 Sep. 25, 1998 Gas processing Explosion Longford, Victoria Australia 750
9 Apr. 24, 1988 Upstream Blowout Enchova, Campos Basin Brazil 700
10 Sep. 21, 2001 Petrochemical Explosion Toulouse France 680
11 May 4, 1988 Petrochemical Explosion Henderson, Nevada U.S. 640
12 May 5, 1988 Refinery Vapour cloud explosion Norco, Louisiana U.S. 610
13 Mar. 11, 2011  Refinery Earthquake (3) Sendai Japan 600
14 Apr. 21, 2010 Upstream Blowout/explosion/fire Gulf of Mexico U.S. 600
15 Sep. 12, 2008 Refinery Hurricane Texas U.S. 550
16 Jun. 13, 2013 Petrochemical Explosion/fire Geismar, Louisiana U.S. 510
17 Apr. 2, 2013 Refinery Flooding/fire La Plata, Ensenada Argentina 500 (4)
18 Dec. 25, 1997 Gas processing Explosion/fire Bintulu, Sarawak Malaysia 490
19 Jul. 27, 2005 Upstream Collision/fire Mumbai High North Field India 480
20 Nov. 14, 1987 Petrochemical Vapour cloud explosion Pampa, Texas USA 480

(1) Property damage, debris removal and clean-up costs.
(2) Inflated to December 2013 values.
(3) Loss to refinery following the Tohuku earthquake.
(4) Preliminary.

Source: Energy Practice, Marsh & McLennan Companies.