Oil Theft
Oil theft refers to the illegal extraction and transportation of crude oil or refined petroleum products. This activity often occurs in regions with significant oil reserves, where thieves tap into pipelines or steal from storage facilities. The stolen oil is typically sold on the black market, leading to substantial financial losses for governments and companies.
The consequences of oil theft can be severe, including environmental damage from spills and leaks, increased security costs, and disruptions in the oil supply chain. Countries like Nigeria and Mexico have faced significant challenges due to oil theft, prompting efforts to enhance security and reduce illegal activities.