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Exxon Mobil overtaken by Chinese upstart
Sky – A big shift is happening in Big Oil: an American giant now ranks behind a Chinese upstart. Exxon Mobil is no longer the world’s biggest publicly traded producer of oil. For the first time, that distinction belongs to a 13-year-old Chinese company called PetroChina. The Beijing company was created by the Chinese government to secure more oil for that nation’s booming economy. PetroChina announced on Thursday that it pumped 2.4 million barrels a day last year, surpassing Exxon by 100,000. Read Article
Tags: Asia, energy resources, financial system, North America
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