Global oil theft: impact and policy responses

This paper, the first of two on global oil theft and fraud, discusses prevalence, methods, consequences theft, valued at US$133 billion per year equivalent to 5–7 cent market for crude petroleum fuels. However, impact is significantly larger than value itself. Government tax yields have been assessed 30 developing countries associated with found be lower in International Monetary Fund’s benchmark study. Oil smuggling, illicit trade products are often seen as lesser forms crime human trafficking, drugs trade, smuggling weapons, kidnapping, terrorism. an act opportunity tends evolve into organized and, if left unchecked, may interlink other activities groups. Actions against should target transnational syndicates that continue find ways replicate their thefts by adapting strategies business models. there a lack basic data, including how much stolen, stolen transported, transactions conducted. The mixing legal commercial operations illegal fraud obscures many crimes.