The Texas Railroad Commission (RRC) has formed a 13-member task force to help fight the current petroleum theft in the Texas energy industry. The State Taskforce on Petroleum Theft (STOPTHEFT) was created in Senate Bill 494 and passed by the 89th Legislature.
The task force consists of members of law enforcement, the department of public safety, oil and gas industry representatives, and energy associations. It will address theft laws, regulations in U.S. jurisdictions, analyze the economic impacts, and recommend law enforcement training. RRC Chairman Jim Wright will serve as chairman.
A recent survey on the issue was conducted by the Federal Reserve Bank of Dallas. It revealed 41% of executives from 138 oil and gas firms reported their operations were affected by oil field theft in the past year. Sixty-one percent cited crude oil as the primary product stolen while 58% explained that piping valves and wiring were the targets. Thirty percent experienced loss of equipment.
The majority of respondents said the overall operational impact of theft was low. The task force members represent key areas of state, federal and local law enforcement, as well as the energy industry, to help tackle petroleum theft.
Courtesy of RRC and Federal Reserve Bank of Dallas.