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Mexico creates Pemex by expropriating all foreign-owned oil reserves and facilities.
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Pemex
Mexican state-owned petroleum corporation
Pemex is the Mexican state-owned petroleum corporation managed and operated by the Mexican government. It was formed in 1938 by nationalization and expropriation of all private oil companies in Mexico at the time of its formation. Pemex had total assets worth $101.8 billion in…Source: Wikipedia (CC BY-SA)
Mexican oil expropriation
1938 nationalization of all Mexican oil supplies into a state-owned oil company, PEMEX
The Mexican oil expropriation was the nationalization of all petroleum reserves, facilities, and foreign oil companies in Mexico on March 18, 1938. In accordance with Article 27 of the Constitution of 1917, President Lázaro Cárdenas declared that all mineral and oil reserves…Source: Wikipedia (CC BY-SA)