Map of Cedros for and British oil companies and the oil workers’ labor unions. The conflict led to a strike and subsequent legal battles. Then, the companies refused to honor a wage increase ordered by an arbitration tribunal. In response, Mexican president Lzaro Crdenas ordered the expropriation all foreign oil companies. Crdenas then created a national oil company known as Petr³leos Mexicanos (PEMEX). Crdenas’ actions led to sanctions by the United States and Great Britain. Nevertheless, the oil nationalization was a major victory for Mexican nationalists and was largely supported by all sectors of Mexican society. Map of Cedros 2016.