Petróleos Mexicanos (PEMEX) not only fuels Mexico's automobile engines, the state-owned oil company also fuels the nation's economy, accounting for some one-third of the Mexican government's revenues and about 7% of its export earnings. The integrated company's operations, spread throughout Mexico, range from exploration and production to refining and petrochemicals. PEMEX's P.M.I. Comercio Internacional subsidiary manages the company's trading operations outside the country. In 2008 PEMEX had estimated proved reserves of 14.3 billion barrels of oil equivalent. That year PEMEX produced about 4 million barrels of oil equivalent per day.