Mexico's state oil company Pemex is engaged in the exploration, production, transportation, refining, storage and sale of hydrocarbons and derivatives. Its products include petrochemicals, natural gas, liquid gas, sulphur, gasoline, kerosene and diesel. According to the company, Pemex operates 454 production fields; more than 9,000 production wells; 254 offshore platforms; six refineries; eight petrochemical complexes; over 7,000km of gas pipelines; more than 4,700km of oil pipelines; and 19 LPG distribution terminals. It also operates more than 10,400 service stations throughout the country. As a result of Mexico's energy reforms, Pemex restructured its operations and formed new subsidiaries. Four of the company's units were transformed into two productive subsidiaries: an E&P unit (formerly Pemex Exploración y Producción) and an industrial transformation unit (formerly Pemex Petroquímica, Pemex Gas y Petroquímica Básica, and Pemex Refinación). In addition, five non-core subsidiaries were also approved to cover the segments of drilling and services, logistics, cogeneration and services, and fertilizers and ethylene. The company was founded in 1938 and is based in Mexico City, Mexico.