Actions and Detail Panel
Event: Downstream Oil Theft: Global Trends, Modalities and Remedies
Tue 21 March 2017, 17:30 – 20:30 GMT
The London-based foreign policy think-tank Human Security Centre (HSC) and the Washington-based think-tank Atlantic Council are pleased to co-host an event on Downtream Oil Theft at the Institute of Commonwealth Studies in London on 21 March 2017. The event will be held in the Senate Room (2nd Floor, South Block) at Senate House, Malet Street, London WC1E 7HU.
There will be an expert panel convened on the subject of hydrocarbons crime, which has become a significant threat not only to local and regional prosperity but also to global stability and security. The modalities of theft range from low-level tapping, siphoning, adulteration and smuggling, to extremely sophisticated maritime operations involving extensive networks of actors, to brazenly corrupt dynamics in which states lose billions of dollars per year while their officials profit from those losses. At peak prices, tapping a Mexican pipeline of refined oil for only seven minutes could earn a cartel $90,000. In 2012 alone, hydrocarbons fraud cost the EU €4 billion in lost revenues. In Nigeria, 30% of all hydrocarbons products are smuggled into neighboring states.
In recognition of the magnitude of the problem and the need for it to be addressed, Atlantic Council published in January 2017 the landmark report Downstream Oil Theft: Global Modalities, Trends, and Remedies, the first major study of refined oil theft around the globe. At the first joint HSC-Atlantic Council event in London, the panelists will include Dr Ian Ralby, Senior Research Fellow at the Atlantic Council and author of the report; Ambassador Richard Morningstar, Founding Director and Chairman of the Atlantic Council Global Energy Center; and Terzah Tippin Poe, member of the Advisory Board at Human Security Centre and lecturer at Harvard.
Coffee will be served from 5:30 to 6:00 pm, the on-the-record discussion will take place from 6:00 pm to 7:30 pm, and there will be a reception from 7:30 pm to 8:30 pm. We very much hope that you can join us!
Date and Time
Institute of Commonwealth Studies
Senate Room, Senate House
Malet St, Bloomsbury