Contributor Opinions expressed by Forbes Contributors are their own. The author is a Forbes contributor. The opinions expressed are those of the writer. This picture taken 14 May 2006 shows a stitched hole at an oil pipleline that exploded after it was vandalised by scoopers trying to steal fuel at Ilado beach village in Lagos. […]
From corrupt oil workers to public officials to possibly even private companies, fuel theft from the Mexico’s state-owned oil company Pemex has a lot of partners. Recent interviews with individuals involved in fuel theft published in different news outlets have shown the extent of this network. Speaking with Spanish daily El País, a former police […]
Technavio has published a new report on the global fuel cards market from 2017-2021. (Graphic: Business Wire) LONDON–(BUSINESS WIRE)–According to the latest procurement intelligence report from Technavio, the global fuel cards market is expected to grow at a CAGR of 8.5% over the next five years due to widespread adoption of digital payment solutions by […]
Dodoma — The government saved nearly 2trl/- last year as a result of tight fuel regulatory measures that include implementation of a chemical “mark” on imported petroleum products, a new report shows. Energy and Water Utility Regulatory Authority (EWURA) released its 2016 downstream petroleum sub-sector performance report here Saturday indicating fuel marking had helped curb […]
Ghana lost over $150 million to fuel smuggling in September and November 2016, the Executive Secretary of the Chamber of Petroleum Consumers has said. Duncan Amoah believes the country will lose billions if the activities of black marketeers are not halted. He was speaking to Joy News about the illegal activities of a fuel smuggling syndicate […]
Sixty barrels of fuel were seized in the raid, along with 10 crew members. SEMPORNA: The Malaysian Armed Forces’ Joint Task Force II (JTF II) detained two pump boats and 10 of its crew members on suspicion of smuggling 60 barrels of fuel worth about RM5,160 to Sitangkai, Philippines. Brigadier General Zarondin Md Amin said the boats were stopped at […]
May 28, 2017 Share MANILA, May 28 — The mandatory fuel marking system under the proposed tax reform measure is expected to curb the about PHP26.9 billion to PHP43.8 billion loss in government revenues due to oil smuggling. The Bureau of Customs (BOC) plans to conduct the competitive bidding for the procurement of the fuel […]
By Associated Press Published: 16:05 EDT, 27 May 2017 | Updated: 16:15 EDT, 27 May 2017 MEXICO CITY (AP) – Police in Mexico’s central state of Puebla say they rescued a marine patrol that had been surrounded by angry villagers in an area known for fuel thefts from government pipelines. The Puebla state government said […]
By Chino S. Leyco The Department of Finance (DOF) wants to implement the mandatory fuel marking system to plug the estimated foregone revenues of up to P43.8 billion annually due to rampant oil smuggling and misdeclaration. In a statement over the weekend, Finance Undersecretary Karl Kendrick T. Chua said the absence of fuel markings on […]
MANILA, Philippines – The mandatory fuel marking and monitoring system proposed under the government’s tax reform program is expected to plug as much as P44 billion in lost revenues annually due to oil smuggling, the Department of Finance (DOF) said over the weekend. In a statement, Finance Undersecretary Karl Kendrick Chua said the fuel marking […]