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Bank Meetings – PEMEX

PEMEX · Nov 2, 2020 · 32 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. Bank Meetings – PEMEX – slide 1
    Bank Meetings
  2. Bank Meetings – PEMEX – slide 2
    Table of Contents 1 PEMEX General Overview 2 Exploration & Production 3 Other Relevant Indicators 4 Public Debt and Financing Activities 5 2021 Budget 2/32
  3. Bank Meetings – PEMEX – slide 3
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  4. Bank Meetings – PEMEX – slide 4
    PEMEX: A vertically integrated company Commercialization Transformation Transportation and Exploration and production distribution 3rd largest exporter 16th largest oil 10th largest crude producer1 of crude to the refiner2…
  5. Bank Meetings – PEMEX – slide 5
    PEMEX: A company that creates value 44% The EBITDA margin represents the 33% profit or income of a company before 29% the payment of interest, taxes, amortization and depreciation of fixed 23% assets in proportion to its total…
  6. Bank Meetings – PEMEX – slide 6
    PEMEX: Budgetary Financial Balance, Year-End 2019 Budgetary figures in MXN billion 1,899 PEMEX does generate value, with a For the first time primary balance of 1.0 trillion pesos, 183 in a decade, but tax burden was 85.9% as…
  7. Bank Meetings – PEMEX – slide 7
    PEMEX: financial balance 2008-2019 Real 2019 MXN billion 223.0 Since 2008, PEMEX had not recorded a positive financial balance 26.4 -47.6 -54.2 -49.5 -45.4 -64.0 -82.8 -101.8 -117.9 -162.4 -176.1 2008 2009 2010 2011…
  8. Bank Meetings – PEMEX – slide 8
    8
  9. Bank Meetings – PEMEX – slide 9
    The implemented actions resulted in a 299 Mbd increase above 2018's decreasing trend Liquids Daily Production Mbd 2018 2019 2020 2,000 Decline 1,900 10.4% annual Annual 0.7 % Production growth 1,800 30-sep-20 1,679 Mbd…
  10. Bank Meetings – PEMEX – slide 10
    PEMEXs Crude Oil Production 2018-20201 Thousand barrels per day Lowest Shut in production 1,932 1,897 1,888 2,000 record 1,870 (OPEC+ agreement) 1,867 1,848 -1.8% -2.4% 1,843 1,827 -1.8% 1,818 -2.3% -5.1%…
  11. Bank Meetings – PEMEX – slide 11
    New fields produced 123 Mbd at the end of September 2020 Monthly production from new fields The production deferral is due to: Mbd Qoi Qo Qoi Qo Well (Mbd) (Mbd) Well (Mbd) (Mbd) Delays in infrastructure 140 Ixachi-1DL 3.6 3.6…
  12. Bank Meetings – PEMEX – slide 12
    Crude oil production is expected to increase from 2020 onwards, with a lower investment budget than in 2012-2015 but incremental well drilling Investment Production 2,548 2,522 2,429 2,267 +13% Crude oil 2,154 +2% -8% production…
  13. Bank Meetings – PEMEX – slide 13
    PEMEX has proven to be very successful in exploratory projects, with commercial success rates and finding costs more competitive than peers' average Commercial Success Rate 2015 2019 Finding Costs1 2015 2019 34% 13.8 Percentage…
  14. Bank Meetings – PEMEX – slide 14
    Proven reserves (1P) increased from the previous year's certified reserve 1P Reserves1 Billion barrels of oil equivalent 1PR Forecast -9% 10.2 +3% 9.6 8.6 1P 7.7 Reserves 7.0 7.2 7.4 as of January 1st 2015 2016 2017…
  15. Bank Meetings – PEMEX – slide 15
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  16. Bank Meetings – PEMEX – slide 16
    Budgetary Investment MXN billion 2012-2018 2018-2024 359 Without new debt, -1.8% -2.4% 334 -2.1% -5.3% 0.0% -2.9% investment is 312 7.6% expected to grow 306 299 305 6.9% more than 50% by the -14.7% end of the year -2.3%…
  17. Bank Meetings – PEMEX – slide 17
    Results of the Strategy to Combat Fuel Theft, 2018-2020 Thousand barrels per day 74 Fuel theft has decreased by 95% as compared to the average for 2018 23 5 5 5 5 5 4 3 3 4 4 6 6 6 5 4 4 3 4 5 5 5 5 5 5 6 6 6 4 6 2 3 3 3 6 6 6…
  18. Bank Meetings – PEMEX – slide 18
    Losses due to Fuel Theft1 MXN billion 36.2 Estimated savings for PEMEX in two years amount to MXN 71.5 3.6 billion2 3.2 2.3 1.0 0.4 2018 2019 Jan-Sep 2020 Gasolines and Diesel LPG 1. Prices at storage facilities, does…
  19. Bank Meetings – PEMEX – slide 19
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  20. Bank Meetings – PEMEX – slide 20
    Financial Debt USD billion 2012-2018 2018-20241 120 107 Forecast 106.0 Observed 110 106.0 103.0 -2.4% -5.3% -1.8% -2.9% 100 96.0 -2.1% 2.9% 106 0.0% 105.0 105.0 105.0 105.0 105.0 7.3% 90 87.0 10.3%…
  21. Bank Meetings – PEMEX – slide 21
    Refinancing Operations On February 2020, Pemex concluded the comprehensive liability management strategy that started on 2019, which consisted of three major components: Refinancing Refinancing and liability and liability…
  22. Bank Meetings – PEMEX – slide 22
    Maturity Profile USD billion Before Current As of December 31, 2018 As of September 30, 2020 23.7 9.6 9.4 9.1 8.7 8.6 6.7 7.5 6.7 4.2 4.4 3.6 1.6 0.3 0.1 1 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028…
  23. Bank Meetings – PEMEX – slide 23
    Recent Access to the Market On October 8, PEMEX issued a USD 1.5 bn benchmark bond in the international debt capital markets due in 5 years with a 6.875% coupon. Reduction of financial cost initially announced thanks to investors…
  24. Bank Meetings – PEMEX – slide 24
    PEMEX 10-year Bond Yield Rate Evolution Covid-19 crisis 13.0 Maximum: 12.0 27/04/2020 12.05% 11.0 10.0 Financing operation Maximum 8/10/2020 9.0 Issuance 20/11/2018: Sep/2019 Issuance 8.0 6.85% Jan/2020 5.95% 7.0 6.0…
  25. Bank Meetings – PEMEX – slide 25
    Cost & Income of PEMEXs Crude Oil Hedge USD million 2019 2020 With the 2019 As of October 7, 2020 Cost 149.6 surplus, the 2020 Cost 178.3 eight payments had hedge was paid been received 219.5 Surplus Crude Oil Crude Oil…
  26. Bank Meetings – PEMEX – slide 26
    3Q20 Financial Highlights MXN million 3Q19 2Q20 3Q20 1 Sales 350,488 181,693 239,031 2 Cost of sales 263,814 153,140 189,045 3 Impairment (reversal) (17,247) 18,392 (8,186) 4 Gross Income 103,921 10,162 58,172 Transportation and…
  27. Bank Meetings – PEMEX – slide 27
    Federal Government Support in 2019 Concept MXN billion 1. Capital injection 25 The objective of the Federal Government is to directly 2. Payment by the SHCP of support PEMEX during the pension promissory notes first half of the…
  28. Bank Meetings – PEMEX – slide 28
    Federal Government Support in 2020 PEMEX has the support of the Federal Government to strengthen its financial position as depicted during 2020 through various support measures: Concept MXN billion Comments The new rate will apply…
  29. Bank Meetings – PEMEX – slide 29
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  30. Bank Meetings – PEMEX – slide 30
    Estimated contributions to the Federal Government for 2021 Budgetary figures, MXN million 897,170 Total Direct taxes (DUC1 & others) PEMEX will 352,570 continue to be Total support from the most the Federal important tax…
  31. Bank Meetings – PEMEX – slide 31
    Key highlights Short and long term liability management operations executed during this administration allowed us to face the most severe crisis in contemporary history with adequate liquidity levels. We have been managing the…
  32. Bank Meetings – PEMEX – slide 32
    Investor Relations (+52 55) 9126-2940 ripemex.com www.pemex.com/en/investors Sonda de Campeche

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