Pemex Losses to Stolen Oil in 2010

Oil smuggling in Mexico dropped in 2010 as state oil producer Pemex reported 1.7 million barrels of oil being stolen in 2010, compared to the nearly 5 billion barrels of oil that was smuggled in 2008.

Pemex also found 712 illegal connections to its oil pipelines, almost double the amount of illegal connections in 2009.

From the illegal connections to pipelines, Pemex estimates that 10,000 barrels of oil worth $700,000 was smuggled onto the black market every day.

Source: Robert Campbell, “Mexico oil thieves get sophisticated amid crackdown,” Reuters, January 20, 2011.