The mexican oil

expropriation
The Mexican oil expropriation was the
nationalization of all petroleum reserves,
facilities, and foreign oil companies in
Mexico on March 18, 1938. In accordance
with Article 27 of the Constitution of 1917,
President Lázaro Cárdenas declared that all
mineral and oil reserves found within Mexico
belong to the nation, the federal
government.
 The Mexican government established
a state-owned petroleum company, or
PEMEX. For a short period, this
measure caused an international
boycott of Mexican products in the
following years, especially by the
United States, the United Kingdom,
and the Netherlands, but with the
outbreak of World War II and the
alliance between Mexico and the
Allied powers, the dispute with private
companies over compensation were
resolved.The anniversary, March 18, is
now a Mexican civic holiday.
 On March 18, 1938 President Cárdenas embarked on
the expropriation of all oil resources and facilities by
the state, nationalizing the U.S. operating companies.
 On August 16, 1935, the Petroleum Workers Union of
Mexico was formed and one of the first actions was
the writing of a lengthy draft contract transmitted to
the petroleum companies demanding a 40-hour
working week.
 On December 27, 1935, the
Petroleros was created, despite
the legal opposition in the
states of Tamaulipas and
Veracruz. On January 29,
1936, this union joined the
(Committee of Proletarian
Defense) which would become
in February the Confederation
of Mexican Workers (CTM).
On July 20, the union
celebrated its first convention,
in which it was proposed a
project of general contracts for
each oil company and it was
decided on a strike to push
towards an agreement.