Why “safe” is always better than “sorry”
~ Avoiding losses in the petrochemical industry ~
The latest edition of the Marsh report on The 100 Largest Losses revealed that safety failures have cost the hydrocarbon industry more than $34 billion in the last 40 years. Petrochemical expert and thermal transfer fluid provider, Global Heat Transfer, calls for the industry to tighten control barriers within process and safety management procedures.
The staggering amount of financial losses is only the tip of the iceberg – because, strictly speaking, it only reflects property damage. The picture is even grimmer when analysing loss of production, resources and even loss of life.
Since 2011, eight new incidents have entered the 100 largest losses list. This reflects an obvious inadequacy of risk management, maintenance and safety procedures.
The complaint that health and safety, “has gone mad” is so clichéd that it’s become a common medic trope. However, as long as major accidents still occur because of failing control barriers within process and safety management systems, there is still more work to be done.
“As a supplier of thermal fluids for the petrochemical sector, we have found that the best way to prevent accidents is the proactive management of safety processes and regulations,” explained Clive Jones, managing director of Global Heat Transfer. “Senior management needs to implement advanced risk management strategies and ensure company culture and daily routine are deeply rooted in health and safety laws. This can truly help minimise loss, whether it‘s financial, a loss in production or, in extreme scenarios, loss of life.”
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For further information contact: Caroline Law,
Global Heat Transfer Ltd, The Global Group of Companies,
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About Global Heat Transfer: Global Heat Transfer is a thermal fluid specialist, providing heat transfer engineering assistance and thermal fluid supplies. Services offered include sampling and analysis, 24 hour delivery of premium quality thermal fluids, system drain down / cleaning / waste management, planned maintenance programs and a broad portfolio of affiliated system design and installation services. It is part of the Global Group of companies.