(Pemex) is the largest petroleum and petrochemical company in Mexico. It was founded in 1938 and is headquartered in Mexico City. Pemex is a large oil company operating from crude oil exploration and development to refining and processing, as well as upstream and downstream integration of the petrochemical industry, employing more than 200,000 people.

is an integrated national holding company established by the Mexican government after it took control of 17 oil companies in the United States and the United Kingdom into its possession. In 1996, the company had 6.655 billion tons of oil reserves and 1.916 trillion cubic meters of natural gas reserves (1995); it produced 148 million tons of oil and 43.463 billion cubic meters of natural gas. In 1995, the company's revenues amounted to US$21.138 billion and assets to US$31.984 billion. The company employs 136,000 people.

In order to revive the Mexican oil industry, the Mexican government reformed the organization and management mechanisms of the oil companies starting in 1992, in accordance with the Law on the Organization of Oil Companies, and reduced the size of the companies. The National Oil Company became the holding company for the management of oil, gas and basic petrochemical enterprises on behalf of the state, with central direction and strategic leadership of all petroleum industry activities. The company has four independent subsidiaries, all of which have legal personality and assets. The highest governing body of the company is the Management Board, which consists of 11 members, six of whom are government representatives, and is chaired by the Minister of Energy, who is responsible for the company's general management under the leadership of the Management Board.