Fuel smuggling a drain on Indonesia's economy
Country's skewed fuel distribution system creates windows for pervasive fraud
Jakarta
IT'S Tuesday morning and about three dozen vehicles are waiting for the fuel truck to arrive at a service station on the island of Belitung, Indonesia. Soon, a steady stream of cars will buy all the subsidised diesel and many drivers will then siphon their ration into jerry cans to sell at a profit.
The daily ritual is one step in a series of scams that range from car owners earning a f…
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Energy & Commodities
California to wrap up ExxonMobil plastics probe ‘in weeks’, AG says
Gold edges higher; hovers near one-week low on tempered Middle East fears
Why has gold’s inverse relationship with the US dollar reversed?
Oil futures fall as fears of a wider Middle East war fade
Malaysia’s Sapura Energy to sell stake in SapuraOMV to TotalEnergies for US$705 million
Saudi Aramco in talks to buy 10% of China’s Hengli Petrochemical