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Cartels are a threat to Mexico's oil investors

Friday, September 12, 2014

International oil companies prepping to invest in Mexico’s oil sector must be wary of an increasing threat to production from drug cartels siphoning oil to sell on the black market, analysts say.

Estimates put losses from pipeline siphoning as high as $1 billion in 2013 but it is unclear whether this figure refers to the value siphoned or the profits of the organised crime groups.

A number of different groups are active in hydrocarbon theft, including corrupt Pemex workers, but the drug cartels are increasing their involvement, analysts say.

Source: Gulf News