Important change in oil company rankings

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2012-04-03

The world's biggest listed producer of oil is no longer US giant Exxon Mobil.

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Exxon has lost its crown to PetroChina which produced just over 886 million barrels of oil last year.

That's the equivalent of 2.43 million barrels a day.

In January, Exxon said it produced 2.3 million barrels a day, a fall of 5%.

But Exxon still has greater capital.

It is worth $400 billion against PetroChina's $280 billion.

PetroChina has said it expects production to increase even more during 2012.

Source: Central Asia News.Net

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