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Time Line of Industrial Revolution Oil to actually times.
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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.
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The first perforated well was found in Ohio (USA, 1859).
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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.
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The diesel engine was invented by the German engineer Rudolf Diesel, because of the great impulse of the oil industry.
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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.
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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.
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New discoveries of oil and gas in the producing areas of Tampico, Reynosa and Poza Rica. Five gas fields are located in Nuevo Laredo and the first finds are made in the geological areas of Chiapas and Tabasco that would have to be the most prolific.
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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
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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.
