Pemex (Mexico)

PEMEX is a governmental institution engaged in the exploration, production, transportation, refining, storage and commercialization of hydrocarbons and their derivatives. It is the only petroleum company in the country. It is a major contributor to the economy of Mexico. The company operates under the authority of the Energy Department. It was incorporated on June 7, 1938 after a time of widespread strikes against foreign oil companies eventually led to the expropriation of movable and immovable property of 17 oil companies in favor of the government. It has 7.382 wells in operation, 233 offshore platforms, 6 refineries, 10 gas processing centers, 5 petrochemical centers and 77 storage and distribution terminals. Through PMI Comercio Internacional, its commercial arm, handles imports and exports of oil and oil products, supplying various markets around the world. It is the world´s seventh largest producer of oil and the thirteenth in oil reserves.