Pemex is Third-Largest Oil Company
 Wire services
| | The domestic oil monopoly edged out Exxon-Mobil during the first half of 2005 to take over the world's number three spot in production. |
State-owned Petroleos Mexicanos (Pemex) is the world's third-largest oil company in terms of production, while Mexico ranks sixth on the list of oilproducing countries, according to the company's 2005 statistical report released on Sunday.
Pemex trails only Saudi Aramco and Iran's NIOC, which hold the top and second spots, respectively, on the list of largest oil companies.
During the first seven months of 2005, Pemex produced an average of 3.32 million barrels per day (bpd) of crude, edging out U.S.-based ExxonMobil, which slipped into fourth place, Venezuela's PDVSA and Anglo-Dutch oil giant Royal Dutch/Shell.
Pemex, Saudi Aramco, NIOC and PDVSA are all state-owned oil companies, while Exxon-Mobil and Royal Dutch/Shell are publicly traded companies.
Saudi Arabia, with production of more than 9 million bpd of crude, tops the list of oil-producing countries, followed by Russia, the United States, Iran, China and Mexico.
In terms of natural-gas production, Russia's Gazprom was No. 1, while Pemex ranked ninth.
Pemex, which posted revenues of US70 billion in 2004, generates close to one-third of the government's revenues. |
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Business News | August 2005 
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