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Global oil theft: impact and policy responses

Author

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  • Etienne Romsom

Abstract

This paper, the first of two on global oil theft and fraud, discusses the prevalence, methods, and consequences of global oil theft, valued at US$133 billion per year and equivalent to 5-7 per cent of the global market for crude oil and petroleum fuels. However, the impact of oil theft is significantly larger than the value of theft itself. Government tax yields have been assessed for 30 developing countries associated with oil theft and found to be significantly lower than in the International Monetary Fund's benchmark study.

Suggested Citation

  • Etienne Romsom, 2022. "Global oil theft: impact and policy responses," WIDER Working Paper Series wp-2022-16, World Institute for Development Economic Research (UNU-WIDER).
    • Handle: RePEc:unu:wpaper:wp-2022-16
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    File URL: https://www.wider.unu.edu/sites/default/files/Publications/Working-paper/PDF/wp2022-16-global-oil-theft-impact-policy-responses.pdf
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    References listed on IDEAS

    as
    1. Mr. Jian-Ye Wang, 1994. "Macroeconomic Policies and Smuggling: An Analysis of Illegal Oil Trade in Nigeria," IMF Working Papers 1994/115, International Monetary Fund.
    2. Hippolyte W. Balima & Deirdre Daly & Mr. Boileau Loko, 2020. "External Private Financing and Domestic Revenue Mobilization: A Dilemma?," IMF Working Papers 2020/230, International Monetary Fund.
    3. Etienne Romsom & Kathryn McPhail, 2021. "Capturing economic and social value from hydrocarbon gas flaring and venting: evaluation of the issues," WIDER Working Paper Series wp-2021-5, World Institute for Development Economic Research (UNU-WIDER).
    4. Etienne Romsom & Kathryn McPhail, 2021. "Capturing economic and social value from hydrocarbon gas flaring and venting: solutions and actions," WIDER Working Paper Series wp-2021-6, World Institute for Development Economic Research (UNU-WIDER).
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    Cited by:

    1. Etienne Romsom, 2022. "Countering global oil theft: responses and solutions," WIDER Working Paper Series wp-2022-35, World Institute for Development Economic Research (UNU-WIDER).
    2. Vlado Vivoda & Ghaleb Krame & Martin Spraggon, 2023. "Oil Theft, Energy Security and Energy Transition in Mexico," Resources, MDPI, vol. 12(2), pages 1-15, February.

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    1. Etienne Romsom, 2022. "Countering global oil theft: responses and solutions," WIDER Working Paper Series wp-2022-35, World Institute for Development Economic Research (UNU-WIDER).
    2. Etienne Romsom & Kathryn McPhail, 2021. "Capturing economic and social value from hydrocarbon gas flaring and venting: evaluation of the issues," WIDER Working Paper Series wp-2021-5, World Institute for Development Economic Research (UNU-WIDER).
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    4. Etienne Romsom & Kathryn McPhail, 2021. "Capturing economic and social value from hydrocarbon gas flaring and venting: solutions and actions," WIDER Working Paper Series wp-2021-6, World Institute for Development Economic Research (UNU-WIDER).

    More about this item

    Keywords

    Oil; Fuel; Corruption; Crime; Domestic revenue mobilization; Tax evasion; Tax avoidance;
    All these keywords.

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