Expropiación del petróleo en México

On March 18, 1938, President Lázaro Cárdenas del Río expropriated the foreign oil companies operating in Mexico after they refused to comply with a labor ruling, placing the industry in the hands of the nation. The decree led to the creation of Pemex (Petróleos Mexicanos), the state oil company, and March 18 is still commemorated as the Oil Expropriation anniversary.

Don’t confuse Cárdenas with José López Portillo, the president who nationalized the banks in 1982.