Oil Thefts Surge In Mexico As Cartels Become Specialized | Zero Hedge
Submitted by Dex Dunford via OilPrice.com
Already reeling from low prices, officials with Mexico’s state-run Pemex are also fighting an ever intensifying battle against pipeline theft as organized crime tries to gain a foothold in the country’s newly reformed energy sector.From loosely organized groups of locals to feared drug cartels, those who believe there is a significant amount of illicit profit to be made here are coming out of the woodwork—and for starters they are eyeing pipelines.The statistics tell an alarming story of a rapidly increasing number of pipeline thefts year over year.According to a report from Pemex released in November of 2015, incidents of illegal pipeline tapping rose a staggering 43.7 percent in 2014 over the previous year. This amounts to over 4,100 recorded pipeline taps and over 7 million liters of stolen gasoline. Pemex estimates the cost of the thefts to be $1.29 billion.
Source: Oil Thefts Surge In Mexico As Cartels Become Specialized | Zero Hedge
Utah Standard News depends on the support of readers like you.
Good Journalism requires time, expertise, passion and money. We know you appreciate the coverage here. Please help us to continue as an alternative news website by becoming a subscriber or making a donation. To learn more about our subscription options or make a donation, click here.
To Advertise on UtahStandardNews.com, please contact us at: email@example.com.
Comments - No Responses to “Oil Thefts Surge In Mexico As Cartels Become Specialized | Zero Hedge”
Sure is empty down here...