An alleged oil heist in Singapore that has already led to 20 arrests, the seizure of at least one tanker and allegations that thieves siphoned thousands of tonnes of fuel from Shell’s biggest refinery is shining a spotlight on an illegal trade worth tens of billions of dollars worldwide. Working routes in a triangle of sea anchored by Thailand, Vietnam and Singapore and encompassing the oil facilities of Malaysia, the smugglers take advantage of a difficult-to-patrol sea and enticing black market prices, experts say. The suspects in the latest case are accused of stealing oil from Royal Dutch Shell’s ( RDSa.L ) Pulau Bukom refinery, often during business hours, and distributing it around the region. Several of the men charged worked for Shell. Employees of a major Singaporean fuel trading company and a London-listed business that inspects and certifies cargos have also been charged. “Siphoning off […]