Eqecat News

In response to its continued global expansion, leading international classification society ABS has strengthened its executive leadership team with the election of Tony Nassif as Executive Vice President and Chief Operating Officer of the society. The election was made by the ABS Board of Directors at its meeting this week. Nassif moves to ABS from his position as President and CEO of the society’s wholly owned affiliate, ABS Group of Companies Inc. Current ABS President, CEO and COO Christopher J.

An extreme-risk consulting firm predicted a strong hurricane in the Gulf of Mexico could generate losses of more than $65 billion for the offshore oil and gas industry. EQECAT, a subsidiary of Oakland, Calif.-based ABSG Consulting Inc., said recently a strong Category 5 storm, with a track through the heart of the Gulf of Mexico, could produce such property damage and revenue losses. “Property damage alone could exceed $35 billion and losses due to business interruption and reduction in production capacity could add another $30 billion to the loss,” said Richard Clinton, EQECAT’s president. EQECAT based the findings on running a new offshore energy model it produced.