Anniversary of the Oil Expropriation(Mexico)
Anniversary of the Oil Expropriation commemorates the 1938 decree by President Lázaro Cárdenas that nationalized Mexico's oil industry.
On March 18, 1938, President Lázaro Cárdenas expropriated all foreign oil assets, transferring control to the state-owned company Pemex. This landmark move asserted Mexico's economic sovereignty and became a source of national pride. Each year, ceremonies are held at government institutions and oil facilities to remember the decision's impact. Historians and economists reflect on the policy's long-term effects on Mexico's development and energy sector. The day fosters discussions about resource management, national identity, and the balance between foreign investment and domestic control.
Anniversary of the Oil Expropriation
Mexico