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2019 Financial and Operating Outlook – PEMEX

PEMEX · Jan 9, 2019 · 25 slides

Investor presentation from the Shale Experts oil & gas presentation and slide database. Every page is imaged and its text indexed for search across operators, plays, basins and time.

Slides

  1. 2019 Financial and Operating Outlook – PEMEX – slide 1
    Antonio M. Amor Refinery Salamanca, Gto. Mex. Petrleos Mexicanos: 2019 Financial and Operating Outlook January 2019 New York
  2. 2019 Financial and Operating Outlook – PEMEX – slide 2
    Content 1 Overview 2 Financial Performance 3 2019 2024 Strategy 3
  3. 2019 Financial and Operating Outlook – PEMEX – slide 3
    Integrated Oil & Gas Company Upstream Downstream Midstream Sales 10th Crude oil producer1 16th Refining Strategic 4th largest oil exporter company worldwide1 Infrastructure to the USA Total hydrocarbon 6 refineries in Mexico…
  4. 2019 Financial and Operating Outlook – PEMEX – slide 4
    PEMEXs Reserves PEMEX holds the right to exploit approximately 90% of Mexicos hydrocarbon proved reserves MMMboe (billion barrels of oil equivalent) Prospective Reserves1 Resources2 Oil and Gas Basin Gas 1P 2P 3P Non Conv. (90%)…
  5. 2019 Financial and Operating Outlook – PEMEX – slide 5
    Ixachi: Largest Onshore Discovery in Mexico in the Last 25 Years Reserves Classification Proved Probable Ixachi-1001 EXP Possible Gulf of Mexico Ixachi-1 Ixachi-1DEL Cruver-1EXP Branches Fields Cretaceous Tertiary…
  6. 2019 Financial and Operating Outlook – PEMEX – slide 6
    Ixachi is One of the Most Important Onshore Discoveries in the World Top 10 Onshore Discoveries in Conventional Fields in the World 2008 2017 MMboed Certified 3P Reserves 3,000 Estimated 3P Reserves 2,500 2,000 1,500 2,709…
  7. 2019 Financial and Operating Outlook – PEMEX – slide 7
    National Refining System Atmospheric distillation capacity 1,627 Mbd The average utilization of installed refining capacity is 80% worldwide1 Revamped Atmospheric distillation Started Refinery capacity operations (Mbd)…
  8. 2019 Financial and Operating Outlook – PEMEX – slide 8
    Content 1 Overview 2 Financial Performance 3 2019 2024 Strategy 9
  9. 2019 Financial and Operating Outlook – PEMEX – slide 9
    Revenue from Sales and Services The 2017 price liberalization in the domestic market has yielded in a material increase in total revenues, positively impacting the financial results Total Revenues USD billion MXN MMM 68 71 68 1,166…
  10. 2019 Financial and Operating Outlook – PEMEX – slide 10
    EBITDA: Stable Cash Flow PEMEX has generated a solid and stable cash flow, resulting in an EBITDA1 growth EBITDA USD Billion MXN MMM EBITDA Margin2 (%) 25.0 32% 28% 33% 35% 80.0 Ecopetrol 41 Mexican Crude Oil Mix Price 70.0…
  11. 2019 Financial and Operating Outlook – PEMEX – slide 11
    Inflation Adjusted Debt Balance 2013 2019 Debt growth stabilization Debt Balance 2013 2019 USD billion adjusted as of Nov 2018 MXN MMM 99.2 103.5 103.5 103.6 92.7 2,094.4 2,037.2 2,013.7 84.5 2,154.4 1,740.4 71.0 1,370.7…
  12. 2019 Financial and Operating Outlook – PEMEX – slide 12
    2015 2018 Financial Balance: Budgeted vs. Observed Financial Balance USD billion MXN MMM 2015 2016 2017 2018 2019 (3.2) E (3.3) (4.3) (62.2) E (65.4) (5.4) (5.0) (5.0) (79.4) (93.8) (93.7) (101.7) Next goal: Continue with…
  13. 2019 Financial and Operating Outlook – PEMEX – slide 13
    Debt Ceiling & Net Indebtedness Debt Ceiling & Net Indebtedness USD billion 100% MXN MMM 100% 96% Main goal: To maintain the declining trend to stabilize and eventually decrease total debt 99% 99% 46% 99% 42% 100% 49% 2010…
  14. 2019 Financial and Operating Outlook – PEMEX – slide 14
    Revolving Credit Facilities PEMEXs liquidity is strengthened with its committed credit lines which currently amount to USD 6.7 billion and MXN 32.5 billion, respectively. These committed credit lines could be sufficient to cover debt…
  15. 2019 Financial and Operating Outlook – PEMEX – slide 15
    Content 1 Overview 2 Financial Performance 3 2019 2024 Strategy 16
  16. 2019 Financial and Operating Outlook – PEMEX – slide 16
    Strategy Priority: stop and reverse the decline in crude oil production. Improve cash flow and investment through an optimized financial engineering (with the support of the Federal Government). Additional investment will not result…
  17. 2019 Financial and Operating Outlook – PEMEX – slide 17
    2019 Budgetary Capital Expenditures 2019 CAPEX Allocation Budgetary Capital Expenditures 13.7 USD Billion 273.1 MXN MMM 78% 11.1 204.6 22% +22.3% Upstream Downstream Approved Approved 2018 2019 18 Source: Federal…
  18. 2019 Financial and Operating Outlook – PEMEX – slide 18
    E&P Strategy Production target: 2,450 Mbd by the end of this administration The company will focus on increasing activity in drilling, and repairing wells in production fields with 2P reserves; increasing the recovery factor of…
  19. 2019 Financial and Operating Outlook – PEMEX – slide 19
    National Refining Plan Rehabilitation of existing refineries will increase the crude oil processing level, but it will not be enough to cover national demand. Additional refining capacity will strengthen energy security in Mexico.…
  20. 2019 Financial and Operating Outlook – PEMEX – slide 20
    2019 Financing Program Approved Net Indebtedness Target Net Indebtedness USD billion (MXN MMM) USD billion (MXN MMM) Obtained 12.22 (244.4) 9.35 (187.0) Amortized 6.58 (131.6) 6.58 (131.6) Net Indebtedness 5.64 (112.8) 2.77 (55.4)…
  21. 2019 Financial and Operating Outlook – PEMEX – slide 21
    Financial Debt Maturity Profile1 Financial Debt Maturity Profile As of November 30, 2018 USD billion MXN MMM 1.0 20 23.7 0.5 484 10 1.0 20 9.6 9.3 8.7 8.5 9.0 6.6 195 190 6.6 7.5 177 174 4.2 184 4.3 3.6 0.3 135 153 0.1 0.0…
  22. 2019 Financial and Operating Outlook – PEMEX – slide 22
    Good News: Fiscal Support 2019 Strategy 2018 2015 70.00% According to the Hydrocarbons Revenue Law, 2016 68.75% Profit the applicable rate reaches its 2017 67.50% Sharing minimum in 2019: 1.25% Duty 2018 66.25% decrease 2019+…
  23. 2019 Financial and Operating Outlook – PEMEX – slide 23
    First Achievements Material Decrease in Fuel Theft On December, 2018 the Government Plan to Combat the Theft of Hydrocarbons in Mexico was announced. Deviation in Thousand Barrels per Day (Dec 2018 - Jan 2019) due to Illicit Fuels…
  24. 2019 Financial and Operating Outlook – PEMEX – slide 24
    First Achievements Support from the Federal Government We will have the support of the Federal Government. By the end of 2019 we will have at least one capitalization of USD 1.25 billion, with resources from the Federal…
  25. 2019 Financial and Operating Outlook – PEMEX – slide 25
    Investor Relations (+52 55) 9126 2940 ripemex.com www.pemex.com/en/investors Campeche Sound

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