Pemex registers more proven oil reserves
On 8 November 2012, Petróleos Mexicanos (Pemex) was found to be one of the few companies in the world to register more proven reserves, with 1.4 billion barrels of crude oil, higher than Petrobras or British Petroleum (BP). Energy Secretary Jody Herrera appeared before the Senate and said that the restitution rate for reserves has surpassed 100 percent. He specified that between 2005 and 2012, the incremental production excluding Cantarell was 700,000 barrels daily, surpassing production in Brazil, China, Saudi Arabia, or Venezuela in the last five years.
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