PEMEX
Definition
PEMEX refers to Petróleos Mexicanos, which is the state-owned oil company in Mexico. It is one of the largest oil companies in the world and plays a crucial role in Mexico's economy.
Analogy
Imagine PEMEX as a giant oil well that belongs to the government of Mexico. Just like how an oil well produces valuable resources, PEMEX generates significant revenue for the country.
Related terms
Nationalization: This term refers to when a government takes control of private industries or assets, such as when the Mexican government nationalized PEMEX.
Energy Sector: The energy sector encompasses all industries involved in producing and distributing energy resources, including oil, gas, and renewable energy sources.
State-Owned Enterprise (SOE): SOEs are companies or organizations that are owned and operated by the government rather than private individuals or shareholders.
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