PEMEX

PEMEX, or Petróleos Mexicanos, is Mexico’s state-owned oil company, established in 1938. It plays a crucial role in the country's economy by managing oil exploration, production, refining, and distribution. PEMEX is one of the largest oil companies globally and contributes significantly to Mexico's revenue through oil exports and domestic sales. Over the years, it has faced challenges, including production declines and financial struggles, prompting the government to open the energy sector to private investment. Despite these challenges, PEMEX remains a vital player in Mexico’s energy landscape and economic stability.