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Latin America Conference – PEMEX

PEMEX · May 12, 2021 · 47 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.

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  1. Latin America Conference – PEMEX – slide 1
  2. Latin America Conference – PEMEX – slide 2
    Forward-Looking Statement & Cautionary Note Variations If no further specification is included, comparisons are made against the same realized period of the last year. Rounding Numbers may not total due to rounding. Financial Information…
  3. Latin America Conference – PEMEX – slide 3
    Content 1. PEMEXs Main Challenges: Oil Production Decline Fuel Theft Low Crude Oil Processing High Tax Burden Total Debt Amount and Profile 2. Achievements in the First Two Years: Oil Production Stabilization and Growth…
  4. Latin America Conference – PEMEX – slide 4
    1. PEMEXs Main Challenges 1 2 3 4 5 Low Levels of Total Debt High Tax Oil Production Fuel Theft Crude Oil Amount and Burden Decline Processing Profile PEMEXs Business Plan was developed to provide solutions to the…
  5. Latin America Conference – PEMEX – slide 5
    Oil Production 2004-20211 Thousand barrels per day (Mbd) 3,383 3,333 3,256 In 2020, PEMEXs crude oil 3,076 3,500 production decreased by 2,792 51% as compared to 2004, 2,601 2,577 3,000 2,553 2,548 2,522 when the…
  6. Latin America Conference – PEMEX – slide 6
    Lifting Cost USD per barrel The previous administration increased the lifting cost 2012-2018 Between 2012 and 13.7 -1.8% -2.4% -5.3% 2018 lifting costs 0.0% -2.9% 26% almost doubled 10.9 9.4 39.5% 7.9 8.2 7.8 14.3% 6.8…
  7. Latin America Conference – PEMEX – slide 7
    Fuel Theft Losses 2014-2018 Non-operating Losses (Fuel Theft)1 2014-2018 cumulative fuel theft losses: Constant MXN million, 2018=100 MXN 101,080 million 36,163 Excluding taxes 24,612 17,705 2014-2018 losses are equivalent to…
  8. Latin America Conference – PEMEX – slide 8
    PEMEX Petroleum Products Production 1990-2018 Thousand barrels per day (Mbd) Carlos Salinas Ernesto Zedillo Vicente Fox Felipe Caldern Enrique Pea 1,362 1,339 1,395 1,344 1,325 1,356 1,324 1,335 1,330…
  9. Latin America Conference – PEMEX – slide 9
    Indebtedness 2000-2018 Balances as of December 31 of each year Real MXN million 2019 =100 Vicente Fox Felipe Caldern Enrique Pea 2,267 2,178 2,123 1,768 1,383 967 1,062 1,030 1,059 895 951 893 930 936 792 822 475 315 332…
  10. Latin America Conference – PEMEX – slide 10
    2. Achievements in the First Two Years Oil Production Stabilization and Growth Decrease in Fuel Theft Increased Levels of Crude Oil Processing Modified Tax Burden More Manageable Debt Profile 2021. Petrleos Mexicanos. All the…
  11. Latin America Conference – PEMEX – slide 11
    Exploration & Production 2021. Petrleos Mexicanos. All the rights reserv ed.
  12. Latin America Conference – PEMEX – slide 12
    PEMEXs Crude Oil Production 1 Thousand barrels per day (Mbd) 1,800 1,759 1,750 1,732 1,712 1,713 1,700 1,681 1,689 For the fifth consecutive 1,650 month, PEMEX increased crude oil 1,600 production in March 1,550 1,500 Oct…
  13. Latin America Conference – PEMEX – slide 13
    PEMEXs Crude Oil Production 1 Thousand barrels per day (Mbd) 1,785 1,734 1,701 1,706 1,685 1,585 1,485 1,385 1,285 2019 2020 1Q21 1. Includes crude oil and condensates and partners production 2021. Petrleos Mexicanos.…
  14. Latin America Conference – PEMEX – slide 14
    Mexicos Total Crude Oil Production Thousand barrels per day (Mbd) 1,756 98.9% 1,734 PEMEX Private companies' production 21 Mbd (1.1%) 1Q21 Note: For PEMEX and partners as of March 2021: PEMEX (1,715 Mbd) + Partners (20…
  15. Latin America Conference – PEMEX – slide 15
    Contribution of PEMEX's New Developments Thousand barrels per day (Mbd) 180 By the end of March 2021, PEMEX's 163.5 PEMEX in 160 production from new developments was two years 140 equivalent to 7.1 times the private companies…
  16. Latin America Conference – PEMEX – slide 16
    New Fields Produced 164 Mbd at the end of 1Q21 31-Mar-21 180 Wells Qo Wells Qo 163.5 Mbd Fields Fields () (Mbd) () (Mbd) 160 Cahua 2 3.0 Xikin 1 1.2 Cheek 4 21.8 Xolotl 1 4.3 140 Cibix 4 2.3 Tlamatini 1 0.0 Hok 3 6.3 Racemosa 1 2.7…
  17. Latin America Conference – PEMEX – slide 17
    Natural Gas Production & Use Million cubic feet per day (MMcfd) Natural Gas Production 1 MMcfd Natural Gas 4,000 3,714 3,528 3,680 3,635 3,700 Production 1Q21 3,000 25% 28% 27% 27% 27% 2,000 45% 75% 72% 73% 73% 73% 55% 1,000 0…
  18. Latin America Conference – PEMEX – slide 18
    Development of 20 New Fields 20 20 Onshore Shallow waters 15 4 10 8 4 4 4 4 4 5 16 5 3 3 3 2 2 3 2 1 0 0 0 0 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 Shallow Kutz…
  19. Latin America Conference – PEMEX – slide 19
    In 2019 - 2020 the Downward Trend in 1P Reserves was Reversed 1P Reserves and 1P Restitution Rate Million barrels of oil equivalent (MMboe) Integral 1P Restitution 67 -132 4 17 35 124 120 Rate (%) 10.2 -9% 9.6 +3% 8.6 7.7…
  20. Latin America Conference – PEMEX – slide 20
    Lifting Cost USD per barrel PEMEX reduced its lifting cost to USD 11.15 per barrel in 2020 2012- 2018 2018-2024 A 20.7% reduction Between 2012 and 13.7 14.06 was achieved in 2018, costs almost -1.8% -2.4% 2.4% the last year 26%…
  21. Latin America Conference – PEMEX – slide 21
    Total Exploration and Production Cost Reductions, 2019-2021 MXN million Operational Efficiency 19,821 Reduction in 2019-2020: 40,424 25,070 60,245 15,354 2019 2020 2021 Total Note: Information verified by a company…
  22. Latin America Conference – PEMEX – slide 22
    Efficiency in Drilling and Completion of Wells in Yaxch Field Days Platform lease savings: USD 5.7 million Operational efficiency Revenues advanced: USD 14.4 million Production per well: 5,000 barrels per day 98 Days reduction…
  23. Latin America Conference – PEMEX – slide 23
    Industrial Processes 2021. Petrleos Mexicanos. All the rights reserv ed.
  24. Latin America Conference – PEMEX – slide 24
    Crude Oil Process Thousand barrels per day (Mbd) 823 800 703 710 700 629 PEMEX reached an 600 823 Mbd processing level in March. This 500 is the highest record 400 since June, 2017. 300 Year Jan Feb Mar 2018 2021 24…
  25. Latin America Conference – PEMEX – slide 25
    Crude Oil Process and Petroleum Products Production Crude Oil Processing Light Crude Heavy Crude Variable Refining Margin Mbd 747 USD/b 750 15.0 631 605 584 9.83 542 10.0 6.04 355 3.42 500 320 292 5.0 0.57 274 273 0.0 250…
  26. Latin America Conference – PEMEX – slide 26
    Financial Variables 2021. Petrleos Mexicanos. All the rights reserv ed.
  27. Latin America Conference – PEMEX – slide 27
    Mexican Crude Oil Mix Export Price USD per barrel In 1Q21 the Mexican 56.9 59.7 52.4 Export Mix average 44.8 price recorded 39.1 38.3 38.9 39.3 48.7 33.81 36.6 USD 56.26 per barrel. 40.3 22.67 This is 42.6% higher than the…
  28. Latin America Conference – PEMEX – slide 28
    1Q21 Crude Oil Exports Thousand barrels per day (Mbd) 1,100 1006 979 1,000 925 900 During 1Q21 PEMEX 800 exported an average of 700 969 Mbd, a solid volume 600 that strengthened its 500 total income 400 Jan Feb Mar 2021…
  29. Latin America Conference – PEMEX – slide 29
    1Q21 Gasoline and Diesel Domestic Sales Thousand barrels per day (Mbd) Domestic sales are improving Gasoline Diesel 600 589 233 240 550 220 522 190 507 178 500 200 180 450 160 400 140 Jan Feb Mar Jan Feb Mar 2021 2021…
  30. Latin America Conference – PEMEX – slide 30
    1Q21 Financial Highlights MXN million 1Q20 1Q21 1 Sales 284,110 317,553 2 Cost of sales 243,060 218,452 3 Impairment (reverse) (26,316) (46,630) 4 Gross Income (loss) 67,367 145,731 5 Transportation and distribution expenses…
  31. Latin America Conference – PEMEX – slide 31
    Net Profit (Loss) MXN million In 1Q21 PEMEX improved its -37,358 results as compared to 1Q20 A MXN 37,358 million loss was recorded. This loss was completely originated by the depreciation of the Mexican peso against the U.S.…
  32. Latin America Conference – PEMEX – slide 32
    EBITDA & EBITDA Margin EBITDA1 EBITDA Margin MXN billion %, EBITDA / Total Sales 106 33% 29% 68 23% 53 19% 41 20 8% 1Q20 2Q20 3Q20 4Q20 1Q21 1Q20 2Q20 3Q20 4Q20 1Q21 1. Earnings before interest, taxes, depreciation and…
  33. Latin America Conference – PEMEX – slide 33
    PEMEX: a Company that Creates Value EBITDA Margin, EBITDA/Sales1 48% 41% 41% In 1Q21, PEMEXs cash flow 33% generation capacity confirmed the company is among the 26% top in the industry 22% PEMEXs EBITDA margin 22% was 6…
  34. Latin America Conference – PEMEX – slide 34
    EBITDA and Operating Expenses Peer Comparison PEMEXs efficiency: Operational costs below the average of O&G peers 100% 15% 12% EBITDA 1/ 26% 22% 22% 22% 20% 33% 4% 5% 48% 41% 41% 3% 3% 4% 4% 75% 8% SG&A 2/ 5% 3% 1% 50% 7%…
  35. Latin America Conference – PEMEX – slide 35
    Other Relevant Indicators 2021. Petrleos Mexicanos. All the rights reserv ed.
  36. Latin America Conference – PEMEX – slide 36
    2015-2021 Austerity and Expense Discipline MXN million 8,301 6,640 6,277 4,805 2,019 2,141 793 2021 2015 2016 2017 2018 2019 2020 Jan-Mar Cleaning and sanitation materials and others 72 59 45 33 8 17 6 Mobile phones 13 11 8 7…
  37. Latin America Conference – PEMEX – slide 37
    Fuel Theft Losses, 2018-20211 MXN billion Estimated savings for 36.2 PEMEX in two years amount Gasolines and to MXN 76.4 billion2 Diesel LPG 3.2 3.6 3.6 1.0 0.7 0.8 0.4 2018 2019 2020 2021 1. Prices at storage facilities,…
  38. Latin America Conference – PEMEX – slide 38
    CAPEX Evolution, 2013-2020 MXN million 277,156 253,465 203,307 183,021 113,025 111,127 122,476 96,762 2013 2014 2015 2016 2017 2018 2019 2020 Source: PEMEX 20-F 38 2021. Petrleos Mexicanos. All the rights reserved.
  39. Latin America Conference – PEMEX – slide 39
    1Q211 Budgetary Financial Balance MXN billion 426 PEMEX does generate value, with a primary -52 balance of 165 billion -109 265 pesos before taxes & duties. -100 165 -196 -31 -58 -89 Total Operating Purchase Operative…
  40. Latin America Conference – PEMEX – slide 40
    1Q21 Transfers from PEMEX to SHCP MXN million Despite the adverse environment, PEMEX has complied with the timely payment of its contributions to the Federal Treasury 196,361 83,058 Direct (DUC1/ & others) PEMEX has transferred…
  41. Latin America Conference – PEMEX – slide 41
    Federal Government Support 2021 This benefit is in addition to the On February 19, 2021, a Decree by which four-point reduction in the DUC the Mexican Government grants an rate for 2021. Under the MXN 73,280 million tax benefit…
  42. Latin America Conference – PEMEX – slide 42
    Transparency at PEMEX 42 2021. Petrleos Mexicanos. All the rights reserved.
  43. Latin America Conference – PEMEX – slide 43
    Public Debt and Financing Strategy 2021. Petrleos Mexicanos. All the rights reserv ed.
  44. Latin America Conference – PEMEX – slide 44
    PEMEX 10-year Bond Yield Rate Evolution 13.0 12.05% 12.0 COVID 19 Yield to Maturity (%) 11.0 pandemic 10.0 declaration 9.0 Maximum: 8.0 7.65% / 20 Nov 7.0 6.0 6.22% 5.0 Aug-20 Aug-19 Feb-20 Feb-21…
  45. Latin America Conference – PEMEX – slide 45
    Maturity Profile USD billion Before Current As of December 31, 2018 As of December 31, 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 0.3 0.1 2019 2020 2022 2023 2026 2027 2030 2021 2024…
  46. Latin America Conference – PEMEX – slide 46
    Public Debt 2021 MXN billion Approved Net Net Indebtedness Indebtedness1 Objective 2 New debt 173.3 129.3 Amortizations 129.3 129.3 Indebtedness 44 0 Annual trend Public net indebtedness 250 200 The goal for this year is to…
  47. Latin America Conference – PEMEX – slide 47

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