Crude oil thieves slapped with 30 years in jail time
Transnet Pipelines has welcomed the conviction of two fuel thieves, each of whom were sentenced a cumulative 30 years by the Newcastle Regional Court on Monday.
The sentences stem from arrests made during a coordinated operation in July 2021 and the morning of 20 July 2021, during which 39 000 litres of stolen crude oil were recovered from the scene. Fuel theft is an area of major concern for Transnet Pipelines and could have detrimental impacts on the economy if it continued to proliferate.
Malaysia Latest News, Malaysia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Nigeria's Crude Oil Production Rose in FebruaryNigeria's crude oil production rose to 1.476 million barrels per day in February, from 1.429 million bpd recorded in January, an increase of 47,000 barrels, an OPEC survey, which cites secondary data sources, said.
Read more »
Global Supply Shocks Intensify Oil Rally Amid Rising Inflation FearsMilitary tensions between Israel and Iran, along with global supply shocks, are intensifying fears of a commodity-driven inflation resurgence. Mexico's decision to reduce crude exports, stranded Russian cargoes, Houthi rebel attacks on tankers, and OPEC's production cuts are all contributing to a surprise supply disruption. The oil rally threatens to push Brent crude to $100 for the first time in almost two years.
Read more »
Global fuel prices are surging with supply risks aheadIncreases in the two most-consumed fuels are outpacing those for crude oil in some of the world’s most important markets.
Read more »
Five key charts to watch in global commodity markets this weekFor the first time since November, oil options traders are paying more to hedge against rising crude costs.
Read more »
Another fuel price hike in AprilHigher Brent crude oil prices and Ukraine's attack on Russian refineries are to blame, said the department of mineral resources and energy.
Read more »
16 US states challenge Biden admin freeze on new LNG export approvalsTexas and 15 other US states filed a lawsuit on Thursday challenging the Biden administration's freeze on new liquefied natural gas exports. Texas, the leading US producer of crude oil and natural gas, and 15 other Republican-led states filed a lawsuit in a federal court in Louisiana on Thursday opposing the move.
Read more »