Pertamina Losses to Theft in 2012

Indonesian oil company Pertamina reported that it lost up to $52 Million (500 Billion Indonesian Rupiah) to oil theft and oil smuggling in 2012. Company officials stated up between 800 to 1,100 barrels of oil was stolen from its pipeline in Sumatra each day. The amount lost to smugglers accounted for 5 percent of the energy companies daily production in the area.

In the first week of January 2013, the company reported that up to 1,500 barrels of oil was being stolen from its pipelines each day, accounting for 6.5 percent of its total output.

The company reported that it will begin the process of moving its pipelines underground to prevent oil thieves from stealing its oil.

Source:  “Slippery Oil Thieves Cost Pertamina Up to Rp 500b in 2012,” Jakarta Globe, January 8, 2013.