Pemex

Pemex (a portmanteau of Petróleos Mexicanos, which translates to Mexican Petroleum in English; Spanish: [ˈpemeks]) is the Mexican state-owned petroleum company managed and operated by the Mexican government. It was formed in 1938 by nationalization and expropriation of all private oil companies in Mexico at the time of its formation. Pemex had total assets worth $101.8 billion in December 2019 and as of 2009 was Latin America's second largest enterprise by annual revenue, surpassed only by Petro…