Oil and gas is a major industry supporting the global economy as oil and gas still remain the primary sources of energy for industrialized and developing economies of the world. Unsurprisingly, the oil and gas industry is one of the most attractive targets for growing global terrorism and maritime piracy. While the threat of terrorism and sabotage attacks are across the supply chain of the oil and gas industry – from oil wells, transportation to refineries, the threat of piracy primarily concerns the oil tanker industry.
Attacks similar to the maritime piracy might affect a single oil tanker and result in increased costs for oil transportation, which in turn might result in higher end prices for consumers. Any major terrorist attack or act of sabotage on production facilities like oil rigs, offshore platforms and refineries will result in loss or complete stoppage of production, which might take months to restart. The entire supply chain from oil wells and offshore platforms to pipelines, tankers and refineries can be affected by the following security threats:
• Organized crime
• Civil protest
• Inter-state hostilities
• Internal sabotage
Any above threat can cause severe economical and ecological damage that might affect the international oil & gas markets.