Pemex

Petróleos Mexicanos began operations on March 18, 1938, after President Lázaro Cárdenas signed a decree expropriating foreign oil assets. This decisive action transformed the nation's subterranean resources into a state instrument designed to assert sovereignty over Mexico's energy sector. The company now functions as an integrated entity managing the full value chain from upstream exploration and production to downstream refining, petrochemicals, and logistics.

Headquartered in Mexico City at Avenida Marina Nacional 329, Pemex maintains a dominant legal monopoly on domestic hydrocarbon extraction and refining. Its portfolio includes crude oil, natural gas, gasoline, diesel, jet fuel, liquefied petroleum gas, and essential petrochemical feedstocks like ethylene, propylene, and benzene. The organization also manages significant international assets, such as the historic Deer Park Refinery in Texas, which has operated for nearly a century alongside extensive offshore platforms in the Gulf of Mexico.

Recent years have brought severe operational and financial headwinds that challenge its long-standing position. By September 2026, the Mexican government slashed budgetary aid by 70% to $4.8 billion, a move enabled by higher global oil prices but raising concerns about future investment capabilities. Industry reports from October 2026 revealed unpaid supplier debts totaling MX$27.2 billion, while crude oil exports fell 45% in August as the company pivoted toward a domestic refining push. [edit]