(Eagle News) — The Philippine government has already drafted the implementing rules and regulations (IRR) for the fuel marking program which is set for implementation next year to suppress oil smuggling in the country. The Bureau of Customs, together with the Bureau of Internal Revenue (BIR), will lead the fuel marking program’s implementation. The BIR […]
WANCHAI, HONG KONG, March 2, 2018 /EINPresswire.com/ — The Philippines’ new fuel marking and monitoring system is expected to launch in the local downstream oil industry in the second half of 2018. The program is part of a sustained effort to combat rampant fuel smuggling and misdeclaration of petroleum products, estimated to be costing the […]
The Special Task Force claimed to have busted a gang involved in theft of petrol/diesel from oil tankers of Indian Oil Corporation in Meerut. A total of 16 gang members were nabbed and five filled tankers, six empty tankers, two drums filled with petrol, two drums and three containers filled with solvent, three containers of […]
The practice of adulteration is nothing new and unscrupulous elements indulge in it without any fear of the legal implications. There is almost no industry that is spared in this regard. Adulteration is rampant in food items, petroleum products , paints, etc. It goes unchecked as law enforcers are unable to check the practice. The […]
Some MPs accuse government officials and mafia members of being involved in the illicit oil trade. A probe team from Afghanistan’s parliament on Wednesday reported that over 30 fuel companies have smuggled millions of dollars worth of oil into the country under the pretext of delivering it to foreign forces, thereby avoiding import tax. The […]
The Philippine Bureau of Customs (BOC) has tapped the Department of Budget and Management-Procurement Service (DBM-PS) to procure a service provider that will implement the BOC’s fuel marking program. BOC and DBM-PS signed on December 28, 2017 a memorandum of agreement (MOA) for the latter to undertake procurement activities and implement the first tranche of […]
Share this article By Henning Gloystein and John Geddie SINGAPORE (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 […]
By Henning Gloystein and John GeddieAN 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 tons of fuel from Shell’s biggest refinery is shining a spotlight on an illegal trade worth tens of billions of dollars worldwide. Working […]
Economic managers are set to approve the implementation of the fuel marking system as part of the first tax reform package expected to be approved by Congress and signed by President Duterte before the end of the year. The National Economic and Development Authority’s (Neda) Investment Coordination Committee-Cabinet Committee (ICC CabCom) will tackle today the […]
Cuttack: Following reports of fuel theft, a joint squad of Civil Supplies and Weights & Measures department on Monday sealed nozzles of two dispensing machines at a petrol pump in Cuttack. Besides, the squad also seized nearly 40 to 50 litres of fuel suspected to have been adulterated from a petrol pump at CDA, official […]