President Enrique Peña
Nieto led the ceremony of the 78th Anniversary of Petroleum Expropriation. The president thanked Mexican oil workers and
reaffirmed his commitment to Petróleos Mexicanos and its workers.
“Thank you for your effort, work and their daily
commitment to Mexico. I
congratulate each and every one of the country’s oilmen. You are a great source of pride for our nation.”
In 1938, the expropriation
decreed by President Lázaro Cárdenas posed an enormous national challenge. In addition to the political, legal and economic
difficulties involved in this decision, there were stringent technical
For nearly 80 years, Pemex
and its team have had to overcome extremely complex national and international conditions. Yet despite this, they have pulled through time and
“Today, the world situation, marked by the sharp
drop in international oil prices, again demands the best of our oil men; the
circumstances we face require their audacity and determination, capacity and
Like oil companies all over the world, Pemex must adapt to the new
reality of low oil prices. It must do more with less; it must generate efficiencies and reduce
costs; it must increase productivity and direct its investment towards the most
Pemex’s prospects are
positive. The Adjustment Plan approved will strengthen the future of this great
national company. Unlike other oil companies worldwide, Pemex now has two
strengths that distinguish it:
1. An Energy
Reform, whose transformative potential is just beginning. This structural change gives greater flexibility
and capacity to form partnerships; it opens up a new horizon of possibilities. It gives it strength and a future.
2. It has the government’s full, permanent and strong
The President has instructed
the Ministry of Finance and Public Credit and the Ministry of Energy to
accompany and facilitate the process of adjustment and modernization Pemex requires.
Both ministries will support it, so that it can
make the best use, as soon as possible, of all the instruments and benefits
provided by Energy Reform, including new partnership schemes with the private
"There are difficulties, but there are
alternatives and, above all, there is a solution plan.
No difficulty, however complex it may seem, will be
greater than the capacity and strength of Petróleos Mexicanos and its workers.
In the coming months, I am sure, Pemex will demonstrate
its ability to turn this difficult moment into a great opportunity to
structurally strengthen itself and become a benchmark for the global energy