"The transportation of hydrocarbons and their derivatives via pipelines continues to be the most efficient and safest option," said Mr Suarez.

Pemex’s investment plan involves $US5.5 billion to construct an additional 4,500 km of pipelines, four storage terminals and 14 pumping stations in Mexico by 2015.

Pipeline projects that will benefit from the investment include the $US245 million Tuxpan Pipeline, which will increase the transport capacity of oil coming through the port of Tuxpan; and the proposed $US600 million, 370 km San Luis de la Paz –Tamanzuchale Pipeline.

Another $US5.6 billion will be used over the next decade to maintain 47,000 km of existing pipelines.

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"The company is behind in various aspects of its operations compared with other oil companies in the world: declining oil production, excessive costs, deficient industrial processes, and an illicit fuel market that has grown in recent years," said Mr Suarez.