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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...
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income but increased the income share from unidentified sources traditionally associated with corruption. These effects of …
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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...
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of offshore entities as an indicator of corruption risk. We find that the number of new shell companies increases by 11 … the award of an exploration licence increases the risk of corruption. Consistent with rent-maximising behaviour, this … association is stronger when the price of oil increases. Our work informs the fight against corruption, proposing greater …
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