Page "Pemex" Paragraph 10

In an interview on the oil news website in November 2005, a Pemex employee spoke anonymously of the company's inability to grow production, stating that the company and country is at Hubbert's Peak.

The person interviewed believed export levels could not be recovered once peak had passed, as the size of current fields that have been discovered or are coming online represent a fraction of the size of the oilfields going into terminal decline.

Annual production has dropped each year since 2004.

Furthermore, it has been reported the 2005-2006 daily oil production was down by approximately ( a large proportion of the country's 4, 500, 000 barrels ) on the previous year.

Pemex averaged 3. 71 MMBPD in 2006.

Pemex has never produced 4 MMBPD or higher for a yearly average.

Pemex has been replaced as Latin America's largest company by Petrobras, according to the latest Latin Business Chronicle ranking of Latin America's Top 500 companies.