The Oil Expropriation
The Mexican oil expropriation was the expropriation of all oil reserves, facilities, and foreign oil companies in Mexico in 1938. It took place when President and General Lázaro Cárdenas declared that all mineral and oil reserves found within Mexico belong to the nation.
On March 18, 1938 President Cárdenas embarked on the expropriation of all oil resources and facilities by the state, nationalizing the U.S. and Anglo-Dutch (Mexican Eagle Petroleum Company) operating companies. Two hours before informing his cabinet of his decision, he made the announcement on the radio to the rest of the country. Five days later, a crowd of 100,000 (according to the press) rallied in support of Cárdenas
On June 7, 1938, President Cárdenas issued a decree creating Petróleos Mexicanos (PEMEX), with exclusive rights over exploration, extraction, refining, and commercialization of oil in Mexico. On June 20, PEMEX started operations.
On March 18, 1938 President Cárdenas embarked on the expropriation of all oil resources and facilities by the state, nationalizing the U.S. and Anglo-Dutch (Mexican Eagle Petroleum Company) operating companies. Two hours before informing his cabinet of his decision, he made the announcement on the radio to the rest of the country. Five days later, a crowd of 100,000 (according to the press) rallied in support of Cárdenas
On June 7, 1938, President Cárdenas issued a decree creating Petróleos Mexicanos (PEMEX), with exclusive rights over exploration, extraction, refining, and commercialization of oil in Mexico. On June 20, PEMEX started operations.
Monreal Henandez Abril Citlalli
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