Oil theft on the rise in Mexico
Posted On: Mar. 16, 2016 12:00 AM CSTOil theft in Mexico is on the rise as oil prices have fallen globally, reported InSight Crime citing Proceso.
The country's petroleum firm Petroleos Mexicanos estimated that 23,500 barrels of oil are stolen from its pipelines each day, representing losses of 21 billion Mexican pesos ($1 billion) annually.
Officials had earlier estimated that oil theft cost the firm MXN 19 billion in 2014.