officially Petróleos Mexicanos

Mexico's state-owned oil company.

In 1938 Pres. Lázaro Cárdenas nationalized 17 foreign oil companies to create Pemex, the largest Latin American petroleum company and a major world exporter of fossil fuel. Pemex engages in exploration, production, refining, transportation, storage, distribution, and sales of oil and natural gas. In the 1970s promising oil discoveries gave rise to a national spending spree, led by the flamboyant Pres. José López Portillo and financed by massive borrowing. Crude-oil production tripled, but when the international price of oil collapsed in 1981, López Portillo raised Mexican oil prices. The country was virtually bankrupt within one year. Economic reforms have since contributed to greater stability. At the turn of the 21st century, Pemex accounted for nearly 40% of the Mexican government's income.

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Universalium. 2010.

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Look at other dictionaries:

  • PEMEX — S.A. Rechtsform Staatsunternehmen Gründung 1938 Sitz …   Deutsch Wikipedia

  • PEMEX — Logo de Pemex Site Web …   Wikipédia en Français

  • pemex — (pronunciamos pémex ) sustantivo masculino 1. Sigla de la empresa Petróleos Mexicanos …   Diccionario Salamanca de la Lengua Española

  • Pemex — Petróleos Mexicanos Type State owned Industry Oil and Gas Refining Founded 1938 …   Wikipedia

  • Pemex — Logo de Pemex Site web …   Wikipédia en Français

  • Pemex — Petróleos Mexicanos Тип Государственная компания …   Википедия

  • Pemex — oficialmente Petróleos Mexicanos Empresa estatal mexicana de petróleo. En 1938 el pdte. Lázaro Cárdenas nacionalizó 17 compañías petroleras extranjeras para crear Pemex, la empresa de petróleo más grande de América latina y una de las mayores… …   Enciclopedia Universal

  • Pemex Gas y Petroquímica — PEMEX S.A. Unternehmensform Staatsunternehmen Gründung 1938 Unternehmenssitz …   Deutsch Wikipedia

  • Pemex Refinación — PEMEX S.A. Unternehmensform Staatsunternehmen Gründung 1938 Unternehmenssitz …   Deutsch Wikipedia

  • PEMEX — Petróleos Mexicanos (International » Mexican) …   Abbreviations dictionary

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