Today in Latin American History
Mexico Nationalized all Foreign-owned Oil Properties Within Mexico in 1938
Today in Latin American history, Mexico nationalized all foreign-owned oil properties within its borders in 1938.
President and General Lázaro Cárdenas declared that all mineral and oil reserves found within Mexico belong to the nation, citing the 27th article of the 1917 constitution Cárdenas nationalized the United States and Anglo–Dutch operating companies.
Thus creating Petróleos Mexicanos, Pemex.
Other events that occurred on this day:
- Today in LatAm history, Spanish Republican forces defeated the Italians at the Battle of Guadalajara during the Spanish Civil War in 1937
- Today in LatAm history, Dominican baseball player Fernando Rodney who pitches for the Tampa Bay Rays was born in 1977