Timeline: The History of Oil

2004 BCE

Increase in price

The international oil market faces a series of circumstances that caused high volatility in oil prices, at levels that had not been in place since the 1980s. The war in Iraq and other international conflicts were the root cause of volatility.

2001 BCE

The crisis of mexico

Despite the increase in oil production and exports, the government wAS allocated the bulk of PEMEX's resources to pay for the deficits of the Ministry of Finance and Public Credit, which failed to carry out a tax reform and accentuated its dependence on Revenues to more than 30% of total

1924 BCE

The crisis begins

The production crisis and the fall in international prices was led companies to reduce their production rate to a minimum and concentrate on the domestic derivatives market, pending further price increases.

1921 BCE

End of the oil year

End of the first oil boom. The production for that year was reached a record figure of 193.4 million barrels, an amount that would not be reached until years after the expropriation of the industry. Mexico was the second largest oil producer in the world.

1908 BCE

First big productions

The Dos Bocas well in San Diego de la Mar, Veracruz, belonging to the S. Pearson & Son, sprouts unexpectedly with an unprecedented force of 100 thousand barrels per day. The well was showed the country's oil wealth.

1893 BCE

Creation of the disel

The diesel engine was invented by the German engineer Rudolf Diesel, because of the great impulse of the oil industry.

1862 BCE

First Well in Mexico

Antonio del Castillo, a mining engineer, runs one of the first drilling in Mexico to obtain oil. The perforated well was had a depth of 70 meters and cast a mixture of water and good quality crude oil.

1859 BCE

First Well

The first perforated well was found in Ohio (USA, 1859).

1800 BCE

Oil Processes

In the eighteenth century thanks to the work of G. A. Hirn, refining methods began to be refined, obtaining derivative products which were mainly used for greasing machines.

400 BCE

Oil in medicine

The first oil distillation was attributed to the Arabic sage of Persian origin Al-Razi in the 9th century, he was obtained kerosene and other distillates for medical and military uses.