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Pemex to Invest 550 Million Pesos in Pipelines, Economista Says

Petroleos Mexicanos, Latin America’s largest oil producer, may invest 550 million pesos ($44.5 million) to strengthen its oil pipeline monitoring system in order to avoid theft and accidents, El Economista said.

Pemex, as the state-owned company is known, aims to improve the surveillance of 11,560 kilometers (7,184.6 miles) of oil pipelines, said Francisco Fernandez, deputy director of distribution of Pemex Refining, the Mexico City-based newspaper reported. The daily didn’t specify the time frame for the investment. Mexico has 12,764 kilometers of oil pipelines.