Countering global oil theft: responses and solutions

Etienne Romsom

No wp-2022-35, WIDER Working Paper Series from World Institute for Development Economic Research (UNU-WIDER)

Abstract: This second of two papers on global oil theft discusses ways to reduce oil theft, misappropriation, and fraud. At US$133 billion per year, oil is the largest stolen natural resource globally, while fuel is the most smuggled natural resource. Oil theft equates to 5-7 per cent of the global market for crude oil and petroleum fuels. It is so engrained in the energy supply chain that thefts are priced in by traders and tolerated by many shipping companies as petty theft.

Keywords: Oil; Fuel; Corruption; Crime; Tax evasion; Tax avoidance; Law enforcement (search for similar items in EconPapers)
Date: 2022
New Economics Papers: this item is included in nep-ene and nep-iue
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Citations: View citations in EconPapers (1)

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Persistent link: https://EconPapers.repec.org/RePEc:unu:wpaper:wp-2022-35

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