Sir Weetman Pearson, Bart. (Viscount Cowdray from 1910) founded the company in 1909 to develop his investments in the Mexican oil fields.
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Pearson's interests in Mexico had begun in 1889 when he won a contract from the government of Porfirio Díaz for his civil engineering company, S. Pearson and Sons Ltd, to build the Gran Canal in Mexico City.
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