Oilfield Theft

ABSTRACT The cost of oil field theft to the Petroleum Industry and the ultimate consumer is tremendous. Oil field theft should be a concern of everyone connected with the industry. We are going to have to do a better job of protecting ourselves against theft. The successful manager will find and develop ways to avoid theft. The unsuccessful will continue to be "easy pickings" for the thief. Conservative estimates indicate that oil field theft is costing the Petroleum Industry one and one-half billion dollars per year. Some think that the cost may be as high as 10 billion dollars or more per year. Oil field theft affects everyone of us. For one to assume that he is not touched by oil field crime, is to admit ignorance or that he has his head in the sand. The problem is present in a small or large degree throughout the Petroleum Industry. There is no area that is immune. The cost to the industry and the consumer is tremendous. Best estimates by government, insurance companies and law enforcement personnel are that oil field theft costs the consumer seventeen cents ($.17) of every dollar that he spends at the pump! Statistical records pertaining to oil field theft are very skimpy. Because our operations are scattered throughout the world and because many of the thefts are not reported, we don't know just how big the problem really is.