ABU DHABI, Washington, D.C.-based Atlantic Council released a report titled "Downstream Oil Theft: Global Modalities, Trends, and Remedies" at the inaugural Global Energy Forum held in Abu Dhabi.
The study, one of the most extensive examinations of illicit downstream hydrocarbons activity ever published, was led by Dr. Ian Ralby, a non-resident Senior Fellow with the Atlantic Council's Global Energy Center and CEO of I.R. Consilium.
The report is divided into three parts and features 10 case studies, identifies trends and key stakeholders, and makes recommendations on how to address the ongoing challenge. The case studies cover Mexico, Nigeria, Ghana, Morocco, Uganda, Mozambique, Thailand, Azerbaijan, Turkey, and the European Union (including the UK).
The report elaborates how largely ignored forms of hydrocarbons crime pose a real threat to regional and global stability, security and prosperity. Ralby and his team set forth an array of recommendations involving international co-operation, reform, regulations and standards, intervention and concrete countermeasures.
The study explains that downstream oil theft is not merely an end in itself, it is also a means to the criminal ends of terrorist groups, organised crime syndicates and violent insurgents, which must be addressed as a global issue. The illicit activity varies from cross-border smuggling, to pirating tankers, to tapping pipelines, to committing sophisticated fraud.
In 2012 alone, hydrocarbons fraud cost the European Union EUR4 billion in lost revenues. In Nigeria, 30 percent of all hydrocarbons products are smuggled into neighbouring states, the study said.
The rollout of the report saw a panel of experts, including Ralby; ?ric Besson, former Minister of Industry, Energy and Digital Economy, Republic of France; Dr. John C. Gannon, former chairman of the US National Intelligence Council, and Kola Karim, Group CEO at Shoreline Energy International.
Hosted by the Atlantic Council in partnership with the UAE Ministry of Energy, Abu Dhabi National Oil Company (ADNOC), Mubadala and IPIC, and held under the patronage of His Highness Sheikh Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the United Arab Emirates Armed Forces, the two-day Global Energy Forum is part of the Abu Dhabi Sustainability Week. It brought together leading policymakers and business leaders from around the world to discuss the most effective ways to strengthen energy markets, advance new technologies and foster climate action.
Source: Emirates News Agency