This chapter will explore the energy and security context in which Mexican fuel traffickingfuel trafficking first appeared. Afterwards, the origins of this illicit activity and its beginning as a relevant criminal enterprise will be explored. The size of the MFBMMFBM, the modalities of theft and the criminal actors involved will subsequently be developed. This chapter will show that, though recent, fuel trafficking was noticed before its 2011–2018 expansion and that PEMEXPEMEX had a deep-rooted corruptioncorruption history that made it an ideal co-optionco-option candidate.