Distinction between insurance of hydrocarbon exploration-production and that of refining, processing and distribution.
The notions of upstream and downstream energy structure insurance of the hydrocarbon sector by position in the value chain. Upstream covers exploration and production, offshore platforms, drilling, wells, gathering pipelines, exposed to specific perils such as well blowout, offshore storms and technical failures in extreme environments. Downstream covers refining, petrochemicals, storage and distribution, where fire, explosion and business interruption risks dominate on industrial sites with very high value concentration. These two segments call on distinct underwriting skills and concentrate potentially major losses, liable to mobilise a large share of the specialist market's capacity. The energy transition is gradually transforming this line, with the expected decline of some fossil assets and the emergence of new risks tied to hydrogen, carbon capture and renewables, which redefine the perimeter of energy insurance.
An explosion at a refinery falls under downstream energy, with a major business interruption risk, while an offshore well blowout falls under upstream energy.
upstream energy, downstream energy, énergie amont aval, assurance énergie