How does piracy affect the oil and gas companies and the economics of the Gulf of Guinea?

McArthur, Andrew (2016) How does piracy affect the oil and gas companies and the economics of the Gulf of Guinea? BSc dissertation, University of Portsmouth.

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    Abstract

    Piracy in the Gulf of Guinea has been increasing significantly since the turn of the century. Unlike piracy in other areas, the target for such criminals is the cargo carried by the ships rather than holding the crew for hostages. The presence of multiple oil companies in the region means that the impact of piracy is far reaching, reducing the energy security of the global oil supply. Furthermore, it also means that the available opportunities for the reduction of piracy are limited as oil production provides fixed targets and a lucrative cargo. The impacts of piracy in this area are, moreover, not limited to oil companies but have had a substantial effect upon other maritime activities such as fishing. This is thus a considerable issue for the region and wider international community.
    This study comprises a literature review to establish the underlying causes of piracy, the wider impact of the activity, and the potential ways in which it can be tackled. The literature was selected using a number of keyword functions on search engines which were then supplemented by a range of grey literature obtained by a snowball effect, where direction was taken from existing publications. The results reveal that there is a lack of data on the overall costs to the oil and gas companies in the area, but estimates suggest this is substantial. Furthermore, the wider effects of piracy are substantial, and it is possible it can become endemic in this area. Possible solutions explored are the potential regional cooperation between different states and preventative techniques adopted by vessels. However, it is concluded that a fundamental change needs to take place in the region to prevent piracy from being as lucrative and attractive as is currently the case.

    Item Type: Dissertation
    Departments/Research Groups: Faculty of Humanities and Social Sciences > Institute of Criminal Justice Studies
    Depositing User: Jane Polwin
    Date Deposited: 21 Mar 2017 15:08
    Last Modified: 21 Mar 2017 15:08
    URI: http://eprints.port.ac.uk/id/eprint/22754

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