' Drug Cartels Steal Billions of Dollars in Oil '

#AceWorldNews – MEXICO – September 25 – Mexico overcame 75 years of nationalist pride to reform its flagging, state-owned oil industry AP reported.

But as it prepares to develop rich shale fields along the Gulf Coast, and attract foreign investors, another challenge awaits: taming the brutal drug cartels that rule the region and are stealing billions of dollars’ worth of oil from pipelines.

' Drug Cartels Steal Oil From Petroleos Mexicanos '

‘ Drug Cartels Steal Oil From Petroleos Mexicanos ‘

Figures released by Petroleos Mexicanos last week show the gangs are becoming more prolific and sophisticated.

So far this year, thieves across Mexico have drilled 2,481 illegal taps into state-owned pipelines, up more than one-third from the same period of 2013.

Pemex estimates it’s lost some 7.5 million barrels worth $1.15 billion.



#gulf-coast, #mexico, #oil, #pipelines, #shale-fields