A report in October 2012 stated that up to 180,000 barrels of oil was being stolen each day in Nigeria. Based on the price of oil at the time of the report, the country was losing $6 Billion a year to oil theft.
An estimated 2,000 to 3,000 barrels of oil is stolen every day in Indonesia. The oil is siphoned from pipelines by illegal taps, according to an energy think tank in the country.
In the first 9 months of 2012, police reported an average of 512 barrels of oil per day being stolen. Police state that the high level of thefts are being conducted by drug trafficking who use the stolen oil to produce cocaine.
In 2011, the Mexican government-controlled oil producer Pemex reported losing 3.35 Million barrels of fuel to oil smugglers. In 2010, the company lost 2.16 Million barrels of fuel. The estimated losses for the company in revenue to the oil theft and smuggling is around $1 Billion.
Back in 2008, oil theft cost the company $700 Million.
The oil theft has a severe impact on Mexico’s federal budget, as profits from Pemex pays for one-third of the government’s federal budget.
In June 2012, officials with oil companies and the Nigerian Government were reporting that over $1 Billion in oil revenue were being lost to the oil being stolen.
As of May 14, 2012, oil company Royal Dutch Shell reported that it was losing up to 43,000 barrels of oil per day in Nigeria to oil theft activities. The company also reported that over three-fourths of oil spills that occurred in the country last year was the direct result of sabotage to the company’s pipelines.
Children between the ages of 12 to 15 earn up to $6.75 a day by selling black market fuel on the side of the roads in Colombia. The largest area where children are selling the contraband fuel is on the Norther border along Venezuela.
Fraud, corruption and black market smuggling of fuel leads to an estimated loss of $4 Billion a year in Nigeria, according to a legislative committee. 59 million liters of fuel is discharged from vessels across the country, yet only 35 million liters are consumed, leading to 24 million liters being smuggled out of the country.
Oil smuggling on the black market in Kosovo is estimated to be a $100 Million industry.
Ecopetrol, Colombia’s largest petroleum company, reported losses of $11 Million due to oil theft and smuggling in 2010. An average of 369 barrels of oil was stolen from the company’s pipes every day in 2010. The amount of stolen oil increased by 95 percent from 2009.