The Tankship Triangle: Southeast Asia’s Illegal Oil Market

by Henning Gloystein (Reuters) - An alleged oil heist in Singapore that has already led to 20 arrests, 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 … [Read more...]

“The Business” Offshore Nigeria Has American Roots

Two American seafarers are currently being held against their will somewhere in Nigeria tonight, kidnapped from the Edison Chouest-owned supply vessel C-Retriever last Wednesday. Our sources close to the situation have shown us that this predicament is far different from the situation that the crew of the Maersk Alabama, or really any other vessel pirated off of Somalia over … [Read more...]

The Fuel Theft Trade Offshore Nigeria Could Make You Rich, Or Kill You

In speaking with sources in Nigeria this week, one thing that has become abundantly clear... the business of fuel theft is the primary driver of piracy in the region, and it's an issue that appears to have spread throughout many levels of the oil and gas industry. When fuel prices were low, oil majors operating in the area often overlooked the theft of fuel from the boats … [Read more...]