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Countering global oil theft: responses and solutions

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  • Etienne Romsom

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.

Suggested Citation

  • 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).
    • Handle: RePEc:unu:wpaper:wp-2022-35
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    File URL: https://www.wider.unu.edu/sites/default/files/Publications/Working-paper/PDF/wp2022-35-countering-global-oil-theft-responses-solutions.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, 2022. "Global oil theft: impact and policy responses," WIDER Working Paper Series wp-2022-16, 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).
    5. 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).
    Full references (including those not matched with items on IDEAS)

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    More about this item

    Keywords

    Oil; Fuel; Corruption; Crime; Tax evasion; Tax avoidance; Law enforcement;
    All these keywords.

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