Shady triangle: South-east Asia's illegal fuel market
Some officials put the value of the illegal trade in the region at US$2-3 billion per year
Add BT as a preferred source
DeeperDive is a beta AI feature. Refer to full articles for the facts.
[SINGAPORE] AN ALLEGED oil heist in Singapore that has already led to 20 arrests, and the seizure of at least one tanker and allegations that thieves siphoned thousands of tonnes of fuel from Shell's biggest refinery is shining a spotlight on an illegal trade worth tens of billions of dollars worldwide.
Working routes in a triangle of sea anchored by Thailand, Vietnam and Singapore and encompassing the oil facilities of Malaysia, the smugglers take advantage of a difficult-to-patrol sea and enticing black market prices, experts said.
The suspects in the latest case are accused of stealing oil from Royal Dutch Shell's Pulau Bukom refinery, often during business hours, and distributing it around the region.
Share with us your feedback on BT's products and services
TRENDING NOW
Why where you park your joint venture matters: Lessons from a US$689 million shareholder dispute
Richard Eu on how core values, customers keep Singapore’s TCM chain Eu Yan Sang relevant
A new logic of China-Asean economic integration emerges from the Middle East conflict
From 1MDB to ‘corporate mafia’: Is Malaysia facing a new governance test?
