The Lead Approximately $150 million in oil products was stolen from Royal Dutch Shell’s biggest global refinery in a series of thefts dating back to 2014, Singapore court documents reviewed by Reuters show — far more than reported when police first revealed the heist earlier this year. The thefts at Shell’s Pulau Bukom site in Singapore led to over a dozen arrests, though the initial charge sheets drastically underestimate the amount stolen: $10 million in oil, versus later charges showing a total of $40 million had been stolen. The investigation is ongoing, charges are being added, and old charges are being amended. A lawyer for one accused former Shell employee says final sentencing is still “quite far (off).” Shell has since improved its monitoring, ship management, and ethics training. At least $133 billion of oil is stolen every year around the world, Reuters reports. In Canada Alberta Premier Rachel Notley says her recent decision to cut oil production seems to be working. “At least so far, we’ve seen the right result, but you never want to shut down production as an economic plan,” Notley said in a speech in northern Alberta on Thursday. “It’s counterintuitive. It’s not a long-term […]
