Oil Theft Threatens Colombia’s Energy Industry ...Middle East

OILPRICE - Economy
Oil Theft Threatens Colombia’s Energy Industry
source : OILPRICE ( Middle East ) () 20
Strife-torn Colombia was sharply impacted by the 2020 pandemic. The Andean nation’s economy contracted 7% while poverty, corruption, lawlessness and violence soared. Those events were indirectly behind a marked increase in the incidence of petroleum theft, which has grown significantly since 2016. Aside from the pandemic there are a wide variety of reasons for rapidly rising oil theft in Colombia. Among the most prominent is gasoline’s crucial role as an ingredient used to manufacture cocaine. The spike in oil theft is occurring at…

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