Losses to Pemex in First quarter of 2011

In the first four months of 2011, 20,000 barrels of oil was stolen every day, according to Mexico’s state-owned oil company, Pemex.

The market value of the oil stolen in the first quarter was worth $250 Million.

The rate of 20,000 barrels of oil stolen per day was higher then the 10,000 barrels of smuggled oil that was stolen in 2010.

Source: Associated Presss, “Mexico says $250 million in oil stolen in 4 months,” Boston Globe, June 16, 2011.