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PEMEX was established in 1938 following the nationalization of the oil industry in Mexico. This pivotal moment aimed to ensure that the country retained full control over its oil resources, empowering the government to manage and deploy natural resources for the betterment of Mexican society. The company has since grown to become one of the largest oil producers in the world, significantly contributing to the national treasury. Despite its impact, PEMEX has struggled with various setbacks over the years, including financial woes, allegations of corruption, and difficulties in modernization.
Current Challenges
As PEMEX navigates the complex waters of the global oil market, it faces numerous challenges.