PEMEX, the MExican oil giant is a state owned company that controls, owns, and operates Mexico’s petroleum reserves. In terms of revenues, it is the 10th largest oil company in the world.

Althought asphalt and pitch were known and used in MExico since the earliest days of the Aztecs, until 1938, foreign companies owned most of the oil wells in Mexico. That changed when Mexican president Lazaro Cardenas decided to nationalize and monopolize the oil industry in the nation, creating the PEMEX conglomerate. Although many national governments responded to the development with boycotts and embargoes, PEMEX eventually grew to become one of the largest oil exporting in the world.

PEMEX supplied all the petroleum stations in Mexico. In addition, its wells in the Gulf of MExico supply all parts of the world with oil, not to mention the gas-guzzling rich nation to the north.