Petroleos Mexicanos, known worldwide as Pemex, is a Mexican state-owned petroleum company headquartered in Mexico City, wholly owned by the Mexican government. It was created in 1938 following the nationalization of Mexico's foreign-owned oil industry under President Lazaro Cardenas, an event still commemorated annually in Mexico as Oil Expropriation Day on March 18. Pemex is one of the largest oil companies in the world by production and controls essentially all of Mexico's upstream oil and gas activity, alongside refining, petrochemicals and fuel distribution. The company has carried substantial financial debt in recent decades even as it remains central to Mexican national energy policy and government revenue.
Facts
Company TypeMexican state-owned petroleum corporation 1 Founded Year Headquarters Connections
Operates In
A major oil and gas company; classified in the atlas petroleum-industry.
In the Other Atlases
- Also in Geography Atlas: Mexico, located there.
Sources
1. Petroleos Mexicanos (Pemex) - Wikipedia
History section
Pemex was established by Cardenas's decree of June 7, 1938.
Introduction (lead paragraph)
the Mexican state-owned petroleum corporation
Infobox
Headquarters: Mexico City, Mexico
View the SourceReader Challenges (0)
No disputes yet. Spotted an error or a better source? Open the first one.
Sign in to dispute this or suggest a correction.