AMLO announces party in Zócalo for anniversary of oil expropriation

In order to commemorate the 85th anniversary of the oil expropriation in Mexico, a celebration will be held at the Plinth of the Mexico Cityadvanced the President Andrés Manuel López Obrador.

“It’s going to be a party because we rescued Pemex Yet the Federal electricity commission”, he declared this Wednesday during the morning press conference in National Palace.

The event will take place next March 18th. According to AMLO, it will be a “big act” and will have the participation of various singers “that people like.”

The president described as “a historic decision” that “has saved” Mexico from expropriation, which nationalized the country’s entire oil industry.

“If he had continued with the same oil privatization policy, we would be importing crude oil,” he said.

Within this framework, the president celebrated the rehabilitation of refineries in the country, the purchase of the shares of Deer Park and the construction of two coking plants to take advantage of the fuel oil in the refineries of tulla Y salina cruz. In addition, he assured that he “is rescuing Pemex.”

He also reiterated that the Dos Bocas refinery It will start its production from next July. He said that from that date they will process 170 thousand barrels per daywhile in December it will begin to produce 340 thousand. Therefore, by 2024 it will be operating at full capacity.

On March 18, 1938 the then president of Mexico, Lazaro Cardenas del Rio, issued the decree of the Oil Expropriation, which consisted of the legal appropriation of the oil that they exploited 17 foreign companies.

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With this mandate it was established that the Mexican State would have full control over the production and marketing of this product in national territory.

Almost three months after the Expropriation -on June 7, 1938- the parastatal was founded Mexican oil (Pemex), endowing it with the powers to be in charge of such work.

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