Oil & Fuel Theft - Global Report
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Global oil and fuel theft is an underreported and relatively unexplored issue, but it is one that is causing untold threat to local and regional prosperity and stability. The problem is both broad and systematic, impacting operations in upstream, midstream and downstream. In some nations the issue is so deeply entrenched that politicians, police and military personnel are all involved in illegal hydrocarbons activities.
The 2014 global drop in oil price has changed the context of illicit hydrocarbons activity considerably. At a lower price, oil has in some ways become far less desirable to steal, and yet illegal activity in this space continues to provide many with major financial rewards.
Eliminating the problem will require an approach that focusses both on the illicit activity and its consequences. In many of the nations most deeply affected, a key obstacle to tackling this issue head-on is that many of the individuals in a position to reduce the rate of theft are the people who are benefiting from the current illicit activities. New technological offerings such as fuel marking have experienced varying levels of success and in some cases have significantly reduced fuel ‘stretching’ and the introduction of illegally acquired fuel into the market .
Tackling oil theft and its related effects requires a deep understanding of the consequences of such activity. This report will explore oil and fuel theft in Mexico, Colombia, Morocco, Nigeria, Ghana, Uganda, Mozambique, Thailand, Azerbaijan, Iraq, Russia, Turkey and the European Union.
In each case, this report will look at how the problem has manifested itself and the extent to which combative strategies can be successful in reducing the issue.