A Transformation is Underway Benefits for PEMEX Benefits for the Industry Round Zero: 1 reserve base largely intact 12.4 MMMboe proved reserves 1 Open and regulated industry low replacement cost 2 Management and budgetary…
A Snapshot of PEMEX Today Exploration and Production Downstream International Crude oil production: 2,265 Mbd1 Refining capacity: 1,690 Mbd 8th largest oil producer worldwide2 Natural gas production: 5,540 MMcfd1,3 Strategically…
Building on Our Significant Infrastructure Production Capacity Producer Zone Refinery Refining Petrochemical Center Atmospheric distillation capacity 1,602 Mbd Gas Processing Gas Processing Center Sour Nat Gas 4.5 Bcf Camargo…
Distribution of PEMEXs Reserves1 Oil and Gas MMMboe (billion barrels of oil equivalent) Gas Prospective Reserves Resources Basin Cum. Prod. Sabinas Burgos 1P 2P 3P Conv. Non Conv. Deep Sea (90%) (50%) (10%) Tampico-…
Future Growth Depends on Efficient Implementation of the Energy Reform Oil Production (Mbd) 2.26 MMbd 2.6 MMbd 3,000 Historic Projection 2,600 0.2 Farm-Out Partners 0.2 Onshore Farm-Out PEMEX 2,000 Exploration…
Quick Take on the New Energy Sector in Mexico Assignments Regulated by the Ministry of Energy and the CNH Migration PEMEX to 1. Production-sharing continue 2. Profit-sharing commercialization Contracts + Third Parties 3.…
Corporate Governance and Structure Strengthen Corporate Governance Board Committees Human Audit Resources and Compensation State Acquisitions, SENER SHCP Independent Members Strategy and Representatives1 Leasing, Works…
Income Statement Evolution Income Statement Income before taxes and duties USD billion Taxes and duties Historically, from 2009 to EBITDA 2014, taxes have accounted Total sales for 118% of operating income and 129% of before- 100…
Balance Sheet Evolution Liability and Equity Profile USD billion 19 13 17 In addition to internal cash 21 flows, PEMEX has resorted 17 100 91 to financial markets to 15 99 86 finance its investment 62 projects. 54 Pension…
CAPEX Financing Total debt as of September 2015 is USD 87 billion, which Net Indebtedness represents 1.0x sales and 2.1x EBITDA USD MMM 62.4% 63.8% 48.0% 27.6% 31.8% 25.7% 29.2% 26.1 26.8 21.3 21.5 23.7 23.5 18.6 16.7 15.0 10.2…
CAPEX Financing MXN Billion Fund Raising in the O&G Industry1 10% Bonds 277 50% Project finance 253 259 263 231 244 Bank loans 20% 242 31% Equity 9% 62% 65% 80% Under Review PEMEX Financing Program 2015 2% Bonds (domestic,…
Price Sensitivity 2015 Price Sensitivity 2015: -1 USD/b USD Million (164) (287) 69 303 (356) 107 1 2 Exports Domestic Sales Imports DUC DEH Total Considering current production and the Mexican Mix price3, if the crude…
Debt Profile1 By Currency By Interest Rate By Instrument By Currency Exposure 1% 1% 20% 4% 1% 27% 3% 12% 61% 22% 10% 77% 65% 73% 6% 16% 1% Dollar Euros Fixed Floating UDIS British Pounds Bonos Intl. Cebures Yens Pesos ECAs…
2015 Financing Program Programmed Raised Sources of Funding USD billion (Jan- Oct 2015) Domestic Markets 7.0 9.0 2.6 International Markets 8.0 11.0 8.4 Bank Loans 2.0 3.0 3.6 Export Credit Agencies (ECAs) 1.0 2.0 1.5 Other 0.2…
2016 Financing Program1 Programmed Sources of Funding USD Billion Domestic Markets 6.0 9.0 International Markets 8.0 11.0 Bank Loans 0.5 1.5 Export Credit Agencies (ECAs) 1.0 2.0 Other 3.0 3.5 Total 21.0 Debt Payments 5.3 Net…
Moodys Rating Action Global Context PEMEX, along the entire oil and gas industry has been affected by the substantial decline in international oil prices Moodys Commentary Moodys revision aligns its rating with those of S&P and…
Pemexs Strategy to Improve its Capital Structure JVs Monetization Fiscal Regime Pension Liability Alternative to Gradual reduction Modification of monetize Pemexs in the Profit Sharing retirement share of Prospect of Duty…
FIBRA E: Pemexs New Financing Vehicle Publicly-traded vehicle to monetize stabilized transportation and storage infrastructure while keeping operational control Overview Objective is to raise equity capital from existing transportation…
FIBRA E Structure Overview Key Advantages New Capital A Equity capital raised by B New monetizing midstream A Capital Fund Projects with Investors assets New Capital B is invested in new D Maintains high-return projects at…
Fiscal Regime for Assignments Key Takeaways 1. Simple 2. Resembles typical tax scheme 3. Gradual reduction of fiscal burden Duties and Royalties Hydrocarbon Exploration Fixed amount per km2 (amount increases with time) Duty…
Background and Necessary Update of the Pension Scheme Mexico: Life Expectancy Accrued Obligations1 Active MXN billion employees Years Current 1,517 pensions In 1942, the retirement conditions were established: 55 years of age…
Pension Liability Update A. Retired employees comprehensive salary will increase based on inflation B.1 Current employees with 15 years of service: no changes B.2 Current employees with < 15 years of service: Adjustment in retirement…
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