Malaysia seizes $129.9M in crude oil from tankers suspected of illegal transfers

Malaysia Seizes $129.9M in Crude Oil

The Malaysian Maritime Enforcement Agency reported the seizure of over $129.9 million in crude oil from two tankers suspected of illegal ship-to-ship oil transfers off Penang. The vessels were found anchored and coupled at sea, with more than RM512 million (approximately $129.9 million) worth of crude oil confiscated.

Officials have not disclosed the origin of the oil. The agencies are investigating the tankers for anchoring without proper permissions and engaging in illegal transfers, which could result in significant penalties. The captains of the ships were arrested and handed over to state maritime officials for further investigation.

Related: Source: Reuters/ws