Important Oil Trading Hubs News

Police say 17 arrested in connection with oil theft; 11 charged; Shell expects "short delay" in operations due to case. Eleven men were charged in a Singapore court on Tuesday in connection with a large-scale oil theft at Shell's biggest refinery, while police said they were investigating six other men arrested in a weekend raid. Police in the island-state said on Tuesday they had detained 17 men, whose ages ranged from 30 to 63, and seized millions of dollars in cash and a small tanker during their investigations into theft at the Pulau Bukom industrial site, which sits just south of Singapore's main island. Oil refining and shipping have contributed significantly to Singapore's rising wealth during the past decades.