Mexico: The big business of oil theft

The big business of oil theft

According to an Excelsior newspaper article, the value of the theft ascends to nearly half a billion dollars, just a fraction of Pemex’s $100 billion annual revenue but still a lot of money. Other estimates say the value of the losses are higher.

The states with the highest number of holes punched in the pipelines are Sinaloa, Nuevo Leon, Veracruz, Puebla and Tamaulipas.

The story said in a one-year period ending in November, thieves relieved Mexican taxpayers of revenue from 2,986,563 barrels of oil, 52 percent higher than the 1,959,439 barrels that went missing in the previous year. Read here and here to find out more about oil theft in Mexico (in English). Much of the oil appears to be stolen by gangs linked to Los Zetas and the Sinaloa Cartel

Apparently 5,026 places along the Pemex pipeline are used for syphoning off nearly three million barrels of oil.

This is not a few people stealing small amounts. This is another way organized crime spreads across Mexico, beyond drugs: Oil Theft is Big Business for Mexican Gangs.

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One Response to “Mexico: The big business of oil theft”

  1. Kermit Says:

    It was also well known that there was a lot of “shrinkage” of Alaskan crude pumped through the Trans Panama Pipeline. However, this was still less expensive than ships transiting the canal.