Mexico police raid Pemex in fuel theft probe

MEXICO CITY, July 29 (Reuters) - Mexican federal police raided the headquarters of state oil monopoly Pemex on Wednesday in an investigation into rampant fuel theft that costs the company more than $2 billion a year, Pemex said.

"At this time the Internal Audit office, with the help of federal police, is seizing computer equipment and documents belonging to the company's Security Directorate," Pemex [PEMX.UL] said in a press release.

Mexican fuel thieves take advantage of Pemex's aging pipeline network to tap into pipes and siphon off fuel. Pemex officials admit they have no clear idea how much fuel is stolen every year.

The company located 396 illegal connections to its fuel pipelines in 2008, Pemex said. (Reporting by Robert Campbell; Editing by Christian Wiessner)