PEMEX: Mexicos Engine USD million Federal Government Income 2000-2015 IPC PEMEX Other 29% Top 22 EBITDA 59,812 57,066 71% Mexicos sole oil and gas producer and 8th largest producer Top 10 worldwide1. CAPEX 18,831…
A Snapshot of PEMEX Today Exploration and Production Downstream International Crude oil production: 2,267 Mbd1 Refining capacity: 1,690 Mbd 8th largest oil producer worldwide2 Natural gas production: 5,506 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 Non-conventional…
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…
Deteriorating Global Economic Environment Steep drop in oil prices Mexican WTI Financial volatility Mix Global economic deceleration 90.0 dbp1 95.0 dbp1 Jan 2014 Jan 2014 Drop in oil prices Average price for the Mexican Mix…
Global Oil & Gas Industry According to Moodys, the O&G industry reduced its CAPEX between 10-20% during 2015, and expects additional reductions during 2016 2015 CAPEX Adjustments1 Royal Dutch Shell Industry Average Chevron…
Income Statement Evolution Income Statement Income before taxes and duties USD billion Taxes and duties EBITDA Historically, from 2009 to 2014, Total sales taxes have accounted for 118% of operating income and 100 129% of before-tax…
Balance Sheet Evolution Liability and Equity Profile USD billion 19 13 17 21 In addition to internal cash flows, PEMEX has resorted to 17 100 91 15 financial markets to finance its 99 86 62 investment 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 billion 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…
CAPEX Financing MXN billion Fund Raising in the O&G Industry3 277 1 1 263 1 Bonds 1 259 253 1,2 10% 50% Project finance 1 20% 237 237 231 Bank loans 31% 9% Equity 62% 65% 80% Under Review PEMEX Financing Program 2015…
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 Int. Bonds CEBURES Yens Pesos ECAs…
2016 Financing Program1, 2 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 21.1 Debt Payments 5.4…
PEMEXs Strategy on Cost Efficiency Expenditure Management Financial Profitability Control Efficiency Efficiency Financial cost optimization Privilege Apply expenditure Improve efficiency economically discipline based on along…
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 Estimated savings of MXN 186 billion B.2 Current employees with < 15 years of…
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