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Tag Archives: petro-plunder

Ex-CEO of Pemex Arrested for “Looting Mexico”

Now attention is switching to former President of Mexico Peña Nieto. By Nick Corbishley, for WOLF STREET: Emilio Lozoya, former CEO of state oil company Pemex who went on the run last May after being accused of serious financial irregularities during his tenure, was arrested in an upscale suburb of the Southern Spanish port city of Malaga on Wednesday. Lozoya is accused of taking part in an elaborate scheme designed to systematically “plunder” Mexico’s finances, according to the...

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Mexico Kicks Off War on its Vast Black Market for Oil

“We’re not just talking about the theft of oil, but about a plan involving government insiders and a complex distribution system. It’s not easy to distribute and sell the pilfered contents of 600 pipelines each and every day.” By Don Quijones, Spain, UK, & Mexico, editor at WOLF STREET. Mexico’s new government has launched a multi-pronged offensive against the rampant oil theft that is costing state-owned oil company Petroleos Mexicanos (Pemex) billions of dollars a year and...

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