Word: pemex
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Dates: during 1950-1959
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Mexico's President Miguel Aleutian likes to claim as one of the most notable achievements of his six years in office the successful rise of Pemex, the government oil monopoly. Recently, when his government raised a monument to Pemex in Mexico City's Paseo de la Reforma, the pedestal bore not only the famous 1938 expropriation decree of President Lazaro Cardenas, but quotations from a 1936 pro-expropriation speech by Aleman, then the youthful governor of Veracruz. Last week, in the final month of his presidential term, President Aleman flew to the Gulf Coast jungles to inspect Pemex...
...Brightness. The man mainly responsible for the new brightness of the Mexican oil picture, and for the reappearance in it of U.S. operators, is Antonio Bermúdez, 53, a handsome, greying Chihuahua industrialist. He was appointed director of the government oil monopoly, Pemex, a few days after President Miguel Alemán took office...
...been done in the way of new exploration and drilling. With cabinet rank to help him make needed changes and deal firmly with the high-riding, left-wing oil union, Bermúdez brought in 51 producing wells in 1947 and 83 more the following year. In 1949, Pemex added 180 new wells to bring national production to an estimated 60 million barrels for the year...
...Fields. Bermúdez says that he spends about 99% of his waking hours thinking about Pemex. Three days each week he visits oil regions in his DC-3, "El Petrolero"; the rest of the time he works hard in Pemex' pseudo-colonial, four-floor office building on Mexico City's Avenida Juárez. He often dashes over to the Casa Crema for a conference with President Aleman...