Quotes: MENA   Enter Symbol: NewsLetter: Search: advanced

Kuwait - Probe begins in bid to smuggle 500,000 litres diesel   Join our daily free Newsletter

MENAFN - Arab Times - 15/01/2014
No. of Ratings : 0
Add to Mixx!

(MENAFN - Arab Times) The Public Prosecution has started its investigations regarding the attempt to smuggle 500,000 liters of subsidized diesel out of the country, which was foiled by the Financial Crime Unit in the General Department for Criminal Investigations. According to security sources, police detectives initiated investigations and surveillance operations on the smuggling operation after receiving information about a Kuwaiti citizen who had leased an industrial plot to store diesel mixed with a small amount of used oil.

The Kuwaiti suspect, with the help of four Arab nationals and an unidentified individual, bought used oil from vehicle agents and garages, which he then stored in containers inside his leased plot. Customs declaration documents were forged for shipping subsidized diesel and tested samples were sent to the Kuwait Petroleum Company under the pretext of being burnt oil, which is legal to export.

After this, he would smuggle the diesel through customs to other parts of the world, where he sells it for double the price. With the cooperation of General Custom Department and the Kuwait Petroleum Cooperation, 20 containers holding 500,000 liters of diesel were confiscated while they were being smuggled through Shuwaikh Port. Some tests were conducted on the diesel in the containers to discover that it was subsidized substance that was not allowed for export.

Three individuals have been arrested while two others are being pursued. Meanwhile, the official spokesperson of Kuwait Petroleum Cooperation Khaled Al-Asousi denied the news that was published in a local newspaper. He explained that the Public Prosecution has summoned the local marketing director of the company to hear his testimony regarding the diesel smuggling case and how the perpetrators managed to get hold of the export clearance of what was assumed to be burnt oil without checking its contents. He affirmed that the Kuwait Petroleum Cooperation is not the authority responsible for issuing such clearance, insisting that the company always cooperates with every concerned government bodies to stop smuggling of diesel and provides necessary aid and support concerning this issu


Arab Times

  MENA News Headlines
 Nov 26 2015 - Egypt, Israel ink vital gas supply agreementMENAFN
(MENAFN) Israel plans to pump gas to neighboring Egypt from its huge Leviathan offshore gas field through an existing subsea pipeline for up to 15 years.When Leviathan starts operating in 2019 or ...

 Nov 26 2015 - Oman, Austria project 70 percent trade growth in 2015MENAFN
(MENAFN) Oman's mutual business relations with Austria has been expanding and flourishing for a long time, therefore the bilateral trade growth has soared 70 percent in 2015, based on reports.The ...

 Nov 26 2015 - Egyptian exports to Germany climbs 2 percent in 2015MENAFN
(MENAFN) Egypt's trade and business ties with Germany this year has seen robust growth despite the problems facing the Egyptian economy, based on reports.In 2015, German exports to Egypt surged 37 ...

 Nov 26 2015 - Egypt secures USD30b development deals at EEDCMENAFN
(MENAFN) Egypt has its fingers crossed that key deals sealed at the Egypt Economic Development Conference (EEDC) will reclaim macroeconomic stability and what it hopes to achieve from the Suez Canal ...

 Nov 26 2015 - Dubai fund to finance new projects with USD 0.54mnMENAFN
(MENAFN) The ruler of Dubai, His Highness Mohammad Bin Rashid Al Maktoum, established a new project to finance Innovation with USD 0.54mn.Moreover; the fund is made to give financing solutions for ...

 Nov 26 2015 - Egypt receives USD100m from KSA for major power stationMENAFN
(MENAFN) the Saudi Fund for Development (SFD) agreed to grant Egypt a loan of USD100m to carry out the expansion and development of West Cairo Power Station, according to the latest reports.The huge ...

 Nov 26 2015 - UAE- Adnoc set for talks on India strategic oil reserves todayKhaleej Times
(MENAFN - Khaleej Times) Abu Dhabi National Oil Company or Adnoc is pursuing a discussion for investing in establishing strategic oil reserves in India. Officials of ...

 Nov 26 2015 - Saudi Yamama, ThyssenKrupp ink USD1.1b contractMENAFN
(MENAFN) Saudi Yamama Cement Company signed an USD1.1 billion deal with Germany's ThyssenKrupp Industrial Solutions to build two new cement plants.Accordingly, the production facilities with a total ...

 Nov 26 2015 - Palestinian shot dead as Israeli soldier is stabbedGulf Times
(MENAFN - Gulf Times) A Palestinian stabbed and wounded an Israeli soldier in the neck in the southern West Bank yesterday and was shot dead by forces at the scene, the army and a hospital said. A ...

 Nov 26 2015 - Profit booking drags down Qatar share indexGulf Times
(MENAFN - Gulf Times) Qatar Stock Exchange fell for the third straight session on Wednesday by a huge 100 points to settle a tad above the 10,500 mark, mainly dragged by domestic institutions' net ...




Click to Apply


Middle East North Africa - Financial Network

MENAFN News Market Data Countries Tools Section  

Middle East North Africa - Financial Network

Main News
News By Industry
News By Country

Islamic Finance News
Private Equity News

How-To Guides
Technology Section

Travel Section

Search News

Market Indices
Quotes & Charts

Global Indices
Arab Indices


Oil & Energy

Currencies Cross Rates
Currencies Updates
Currency Converter

USA Stocks
Arab Stocks

Saudi Arabia 

Economic Calendar
Financial Glossary

Financial Calculators

RSS Feeds [XML]

Corporate Monitor


Real Estate
Submit Your Property

Arab Research
Buy a Research

Press Releases
Submit your PR

Join Newsletters

© 2014 menafn.com All Rights Reserved.  Terms of Service | Privacy Policy | Contact Us | Advertise | About MENAFN | Career Opportunities | Feedback | Help