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Pilko & Associates News and Events

Browse our latest, newest Grey Paper or Pilko Presents. This page is your source for information, insights and upcoming events where you learn more about how to mitigate operational, EHS, and transaction risk and unlock value in your organization.

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Pilko & Associates brings quarterly industry insights to Energy and Chemical leaders who are responsible for managing and mitigating Operational/EHS Risks.




Jim Pierce, Chairman of Global Energy and Power at Marsh JLT Specialty (Bio), provided the following insights on current insurance trends:

Underwriters have reduced capacity to insure Refining and Petrochemical companies for major incidents as a result of major losses in these sectors globally since 2016.  The Midstream sector is also feeling the similar, but not as severe, pressures. 

  • The result has been larger Retentions, increased Premiums and lower Limits for property and BI policies. 
  • This trend is expected to last for several years.

The net result is that Corporate Officers and Boards will have greater incentives to aggressively manage Operational/EHS Risks in order to reduce the probability of catastrophic incidents. 

Focusing on Catastrophic Risks have become a key component of overall Enterprise Risk Management (ERM) for several reasons:

  • Corporate Executives and Board Members have witnessed various companies, ranging from Boeing to Texas Petrochemicals, experience Catastrophic Events which have been devastating from financial, reputational and human perspectives. 
  • Many existing ERM efforts have been judged to be inadequate in effectively identifying, prioritizing and mitigating Mission Critical Risks essential to the wellbeing of the corporation. 
  • Upon close inspection, many ERM activities were deemed to lack sufficiently granularity or robustness to be effective.
    In the energy and chemical industries, Operational/EHS Risks are clearly Mission Critical, yet companies have a false sense of security given that they have:

             a) Management Systems,
             b) Detailed Compliance Audits, and
             c) Policies, Procedures and Practices aimed at Safe and Reliable Operations. 

Too often energy and chemical companies overlook:  

  • Risks inherent in aging physical facilities which may require more than routine Maintenance to operate Safely and Reliably.
  • Risks in the first year of operation after Startup of a major new project.
  • Risks surrounding Acquisitions, Mergers and Divestitures when operating personnel and leadership can be diverted.
  • Risks during shutdowns, maintenance and restarts associated with Turnarounds.
  • Gaps or shortcomings in Leadership, Culture and Competency which are often internal Blind Spots for a corporation.
  • The cumulative impacts of cost and staffing reductions on Risks.
  • The opportunity to Learn from Incidents and Near-misses.


  • March 12-13, 2020 – Methanex Governance Forum (Vancouver, BC) MEMBERS ONLY
  • April 15-16, 2020 – Sadara Gulf Governance Forum (Jubail, KSA) MEMBERS ONLY
  • April 21, 2020 – Directors Breakfast Briefing (Houston, TX)
  • May 18-19, 2020 – DCP Midstream Governance Forum (Denver, CO) MEMBERS ONLY
  • June 10-11, 2020 –Transactions Roundtable (London, UK)
  • June 23, 2020 – Governance Forum Webinar – MEMBERS ONLY
  • October 7-8, 2020 – Syncrude Governance Forum (Fort McMurray) MEMBERS ONLY

Please contact us at events@pilko.com if you would like any additional information on an event listed above. 


The Pilko Brand is well known and respected by Corporate Officers and Boards.

Since 1980, we have organized:

  • 54 Governance Forums in North America and the Middle East for Corporate Officers and Boards
  • 69  Transaction Roundtables globally for Deal Leaders and Deal Advisors
  • 5  Breakfast Briefings for Outside Directors
  • 72+ Grey Papers on timely topics for Corporate Officers and Boards

We will be celebrating our 40th Anniversary on April 1, 2020. 




Board Governance For Operational/EHS Risks

Pilko & Associates brings quarterly industry insights to Energy and Chemical leaders who are responsible for managing and mitigating Operational/EHS Risks.


Several factors are increasing the pressure on Board Members of Energy and Chemical companies to provide effective Governance of Operational/EHS Risks:

  • The Energy Industry has suffered a major uptick in catastrophic incidents globally during the past three years. This uptick has resulted in record financial losses, physical injuries and damaged reputations. Although this trend has been global and impacted all segments of the Energy Industry, the North American Downstream industry has been walloped with a series of high-profile explosions and fires.
  • This trend is likely to continue due to a combination of aging equipment; loss of experienced operators/managers to retirement; constrained maintenance budgets; ineffective processes for managing Risks; etc.
  • The Supreme Court of the State of Delaware, where many energy companies are registered, ruled last month that Boards have a responsibility for ensuring that their companies are effectively managing their material Risks (See Skadden’s Client Update on this ruling). For the Energy and Chemical industries, Operational/EHS Risks can be devastating from a Financial, Reputational and Safety standpoint.

Our observation is that Board Governance for these Risks varies widely from company to company. Boards at some Energy companies provide effective oversight for these Risks and actively embrace evolving Best Practices for Governance. Other Boards lack the insights into the Operational/EHS Risks facing their company and do not provide the oversight required to avoid catastrophic incidents. The results are predictable.

The adage in Real Estate is that the three most important factors are “Location, Location, Location.” The three most important factors for avoiding Catastrophic Incidents are “Leadership, Leadership, Leadership.” And Leadership starts with the Board.

Boards regularly request that our team provide an objective Assessment of how effectively Risks are being managed — from the Board Room to the Control Room as well as the Organizational Capability of the organization to manage Risks on an ongoing basis. Once any Gaps are identified and prioritized, Action Plans can be developed to systematically close the Gaps and mitigate these Risks over time.

View our most recent video – 

Greg Cochran and Mark Turri discuss Organizational Capability.


OPERATIONAL EXCELLENCE THROUGH PEOPLE The “Silver Bullet” Is there a “silver bullet” for real, tangible operational excellence improvement? We think so. Process industries are challenged and under great pressure to perform. To achieve maximum performance, companies seek and implement new technology options, creating complexity and removing people from the process, sometimes to their detriment. So, what is the answer for better operational excellence? Pilko & Associates has created a Grey Paper that addresses the questions around maximizing operational excellence through appropriate balance of technology and people.  In this paper, you’ll discover:

  • What people are better at than technology
  • Where technology has the advantage over people
  • Where complexity creates unnecessary operational risk
  • Work environment impact on performance and operational excellence
  • How to solve recurring workforce challenges to achieve greater excellence

Download our recent Grey Paper to learn more by clicking on the image above.




  • June 11, 2020, London
  • September 2020, New York
  • November 2020, Houston



  • March 13, 2020, Vancouver
  • April 16, 2020, Jubail
  • May 19, 2020, Denver
  • October 8, 2020, Fort McMurray



  • April 21, 2020, Houston



To learn more about these opportunities you can email or call Pilko, or fill out a contact form.


Our TRANSACTIONS ROUNDTABLE® an invitation-only 1/2 day event, designed to assist you in mitigating transactional risk.

Preceded by a hosted Networking Reception the evening before, the format is a private Roundtable designed for unscripted, lively discussion about the current state of deal markets and frank conversations about what buyers and sellers are doing to get deals done.

Network, cultivate and strengthen relationships with senior Deal Leaders and Deal Advisors in the energy and chemical industries by co-sponsoring our Transactions Roundtable, held throughout North America, Europe and Asia. For more information, please email events@pilko.com.

We help companies increase risk control. Contact us to see how you can use our OPERATIONAL/EHS GOVERNANCE FORUM to help your business increase control of operational and EHS risk.

The OPERATIONAL/EHS GOVERNANCE FORUM is a members-only service that brings together energy and chemical companies four times annually for a half-day discussion on business and operational risk management topics.

The number of participants is limited to an exclusive few to allow a robust and free flowing exchange of ideas. Participants are a mix of Outside Directors, Corporate Officers and Heads of EHS. The frank interplay between individuals from these different functions has been invaluable for our members. For more information, please email events@pilko.com.



We are the trusted Advisor to corporate officers and boards on mitigating Operational/EHS Risks and unlocking value in the global energy, chemical and other industrial companies.






Our global footprint includes advisors in 32 countries across six continents. We continue to grow our global presence to be where you need us to be.


We have hosted 60+ invitation-only Transactions Roundtables in Asia, Europe and North America since 2001 and 50+ members-only Governance Forums in North America. 


We are the trusted Advisor to corporate officers and boards on mitigating Operational/EHS Risks and unlocking value for global energy, chemical and industrial companies.



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