What is the state of terrorist threat to the operations of extractive industries? And what does the future hold?
The following information comes from AON’s guide to terrorism and political violence risk, issued in 2015:
- 26% of terrorist attacks on business for the period 2014 – 2015 were against companies in or directly related to extractives.
- Attacks in the oil and gas sectors for 2014 were at about the same rate as back in 2007. Both sectors saw increased attacks around 2010 and 2011.
- Since 2007, 78% of all terrorist attacks have happened in 10 countries (Iraq, Pakistan, Afghanistan, India, Thailand, Russia, Somalia, Nigeria, Yemen and Colombia).
- Most of the sever threats exist in Africa.
- Nine Western countries now rate at increased risk: Australia, Belgium, Canada, Denmark, Estonia, France, Germany, Ireland, and Norway.
Political violence risks are moving to the top of many global companies’ agendas. High profile crises spanned the spectrum of insurable political violence risks in 2014: our findings this year suggest 2015 is liable to see similar instability, with heighten terrorism, war, and civil unrest risks present in many regions, including among the developed economies. (p.5)
For the full report, go to 2015 Terrorism & Political Violence Risk Map – A Guide.