Friday, April 20, 2007


The “new seven sisters”, or the most influential energy companies from countries outside the Organization for Economic Co-operation and Development OCDE, have been identified by the Financial Times Newspaper.

They are Saudi Aramco, Russia’s Gazprom, CNPC of China, NIOC of Iran, Venezuela’s PDVSA, Brazil’s Petrobras and Petronas of Malaysia.

They control almost one-third of the world’s oil and gas production and more than one-third of its total oil and gas reserves. In contrast, the old seven sisters – which shrank to four in the industry consolidation of the 1990s – produce about 10% of the world’s oil and gas and hold just 3% of reserves.

Even so, their integrated status – which means they sell not only oil and gas, but also gasoline, diesel and petrochemicals – push their revenues notably higher than those of the newcomers. This article also said what happen with PEMEX (Mexico) that lost most of their vertical integration and it’s dying because the Mexican government put lots of taxes on the company.