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June 2021 Investor Presentation – PEMEX

PEMEX · Jun 23, 2021 · 50 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. June 2021 Investor Presentation – PEMEX – slide 1
    Investor Presentation June 23, 2021
  2. June 2021 Investor Presentation – PEMEX – slide 2
    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…
  3. June 2021 Investor Presentation – PEMEX – slide 3
    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…
  4. June 2021 Investor Presentation – PEMEX – slide 4
    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…
  5. June 2021 Investor Presentation – PEMEX – slide 5
    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% -2.9% 2018 lifting costs 0.0% 26% almost doubled 10.9 9.4 39.5% 7.9 8.2 7.8 14.3% 6.8…
  6. June 2021 Investor Presentation – PEMEX – slide 6
    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…
  7. June 2021 Investor Presentation – PEMEX – slide 7
    Indebtedness 2000-2018 Balances as of December 31 of each year Real MXN million 2019 =100 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 2000 2001 2002 2003 2004 2005 2006 2007…
  8. June 2021 Investor Presentation – PEMEX – slide 8
    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 9 2021. Petrleos Mexicanos. All…
  9. June 2021 Investor Presentation – PEMEX – slide 9
    PEMEXs Crude Oil Production1 Thousand barrels per day (Mbd) 1,800 1,759 1,751 1,750 1,732 1,712 1,713 1,700 1,681 1,689 PEMEX has gradually 1,650 increased crude oil production in 2021 1,600 1,550 1,500 Oct Nov Dec Jan Feb…
  10. June 2021 Investor Presentation – PEMEX – slide 10
    New Fields Produced 211 Mbd at the end of May 250 Wells Qo Wells Qo 31-may-21 60 Fields Fields () (Mbd) () (Mbd) 211.3 Mbd 56.6 Cahua 2 0.8 Racemosa 1 2.7 Cheek 4 21.1 Uchbal 1 2.4 50 200 Cibix 4 2.3 Kuun 1 1.9 Hok 3 4.2 Terra 1…
  11. June 2021 Investor Presentation – PEMEX – slide 11
    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…
  12. June 2021 Investor Presentation – PEMEX – slide 12
    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%…
  13. June 2021 Investor Presentation – PEMEX – slide 13
    Crude Oil Process Thousand barrels per day (Mbd) 823 800 703 710 700 629 640 PEMEX has been 600 making efforts to 500 increase crude oil process. 400 300 Year Jan Feb Mar Apr 2018 2021 14 2021. Petrleos Mexicanos. All…
  14. June 2021 Investor Presentation – PEMEX – slide 14
    Crude Oil Exports Thousand barrels per day (Mbd) 1,100 1,006 979 1,000 925 923 900 During 2021 PEMEX 800 exported an average of 700 957 Mbd, a solid volume 600 that strengthens its total 500 income 400 Jan Feb Mar Apr…
  15. June 2021 Investor Presentation – PEMEX – slide 15
    Gasoline and Diesel Domestic Sales Thousand barrels per day (Mbd) Domestic sales are gradually improving Gasoline Diesel 600 589 233 566 240 550 218 522 220 507 190 200 178 500 180 450 160 400 140 Jan Feb Mar Apr Jan Feb…
  16. June 2021 Investor Presentation – PEMEX – slide 16
    Financial Variables 2021. Petrleos Mexicanos. All the rights reserved.
  17. June 2021 Investor Presentation – PEMEX – slide 17
    Mexican Crude Oil Mix Export Price USD per barrel 56.9 59.7 59.5 52.4 In 2021 the Mexican 48.7 Export Mix has 44.8 increased as compared 40.3 39.1 38.3 38.9 39.3 33.81 36.6 to 2020. 28.5 22.67 17.10 Jan Feb Mar Apr May Jun…
  18. June 2021 Investor Presentation – PEMEX – slide 18
    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…
  19. June 2021 Investor Presentation – PEMEX – slide 19
    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% 22% PEMEXs EBITDA margin was 6…
  20. June 2021 Investor Presentation – PEMEX – slide 20
    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…
  21. June 2021 Investor Presentation – PEMEX – slide 21
    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,…
  22. June 2021 Investor Presentation – PEMEX – slide 22
    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 23 2021. Petrleos Mexicanos. All the rights reserved.
  23. June 2021 Investor Presentation – PEMEX – slide 23
    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…
  24. June 2021 Investor Presentation – PEMEX – slide 24
    2019 Federal Government Support Concept MXN billion 1. Capital injection 25 2. Payment by the SHCP of The objective of the Federal pension promissory notes 35 Government is to directly support (currently there is a remaining…
  25. June 2021 Investor Presentation – PEMEX – slide 25
    2020 Federal Government Support Concept MXN billion Profit Sharing Duty rate decreases to 58% from 65% (49 USD/b as defined in 39.9 the budget) Capital injections established in the 46.2 approved budget Cash-out of Pension…
  26. June 2021 Investor Presentation – PEMEX – slide 26
    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…
  27. June 2021 Investor Presentation – PEMEX – slide 27
    Transparency at PEMEX 28 2021. Petrleos Mexicanos. All the rights reserved.
  28. June 2021 Investor Presentation – PEMEX – slide 28
    Public Debt and Financing Strategy 2021. Petrleos Mexicanos. All the rights reserved.
  29. June 2021 Investor Presentation – PEMEX – slide 29
    PEMEX 10-year Bond Yield Rate Evolution 12.4 12.05% 11.4 10.4 COVID 19 Yield to maturity (%) pandemic 9.4 declaration Maximum: 8.4 7.65% / 20 Nov 7.4 6.28% 6.4 5.4 jun-19 jun-20 jun-21 dic-18…
  30. June 2021 Investor Presentation – PEMEX – slide 30
    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 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030…
  31. June 2021 Investor Presentation – PEMEX – slide 31
    Public Debt 2021 MXN billion Approved Net Net Indebtedness Indebtedness1 Objective2 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…
  32. June 2021 Investor Presentation – PEMEX – slide 32
    Acquisition of Deer Park Refinery 2021. Petrleos Mexicanos. All the rights reserved.
  33. June 2021 Investor Presentation – PEMEX – slide 33
    Strategic vision of the Mexican Government The vision for the energy sector is focused on recovering the national energy industry and increasing Mexicos energy security on this strategic sector. PEMEX is executing the Refineries…
  34. June 2021 Investor Presentation – PEMEX – slide 34
    Strategic vision of the Mexican Government Current Proposed Structure structure PEMEX PEMEX 49.995% PEMEX 100% 50.005% Deer Park, Texas Location Houston Ship Channel 930 hectares 340,000 barrels per day Processing…
  35. June 2021 Investor Presentation – PEMEX – slide 35
    Transaction Terms - Disbursement of Resources USD 106 million Up to USD 490 million1 outstanding balance of the prepayment of the company's Transaction loan granted by the outstanding debt in the event value general partner Shell…
  36. June 2021 Investor Presentation – PEMEX – slide 36
    Business Plan 2021-2025 Prospective Financial and Operating Results 2021. Petrleos Mexicanos. All the rights reserved.
  37. June 2021 Investor Presentation – PEMEX – slide 37
    Brent Crude Oil Price Estimates USD 2020/b 100 80 73 65 57 57 60 47 40 20 2015 2017 2019 2021 2023 2025 Observed EIA Futures Bloomberg Focus Pemex 38 2021. Petrleos Mexicanos. All the rights reserved.
  38. June 2021 Investor Presentation – PEMEX – slide 38
    Crude Oil and Natural Gas Price Price projections for the Mexican Crude Oil Export Mix and Benchmark Crudes 100 USD 2020/b 80 60 59.8 61.7 60.6 40 55.8 42.1 46.9 20 35.8 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025…
  39. June 2021 Investor Presentation – PEMEX – slide 39
    Budgetary Investment 2021-2026 Constant MXN billion 600 E&P TRI Others 471 25 345 358 400 353 334 320 4 142 4 2 25 1 59 27 27 27 10 200 332 290 304 313 304 283 0 2021 2022 2023 2024 2025 2026 Petrleos Mexicanos: Budgetary…
  40. June 2021 Investor Presentation – PEMEX – slide 40
    Budgetary Investment 2021-2026 Constant MXN billion Pemex Exploration and Production 400 313 332 290 304 304 283 300 200 100 0 2021 2022 2023 2024 2025 2026 Pemex Industrial Transformation 1 150 142 9 Dos Bocas SNR Resto…
  41. June 2021 Investor Presentation – PEMEX – slide 41
    Total Crude Oil and Natural Gas Production 2020-2026 Thousand barrel per day (Mbd) Total Crude Oil Production 3,100 Base Scenario Minimum Scenario 1,944 2,033 2,079 2,164 2,161 2,109 2,100 1,684 1,686 1,100 1,657 1,607 1,673 1,705…
  42. June 2021 Investor Presentation – PEMEX – slide 42
    Hydrocarbon Production and Incorporation of 3P Reserves 2020-2026 Millions of barrels of oil equivalent Hydrocarbon Production 2020 2021 2022 2023 2024 2025 2026 Total 876 1,006 1,053 1,050 1,072 1,063 1,040 Lquidos 617 710 742 759…
  43. June 2021 Investor Presentation – PEMEX – slide 43
    Crude Oil Processing 2020-2026 Thousand barrel per day (Mbd) Crude Oil Processing 1 1,750 1,658 1,658 1,520 1,565 1,500 1,586 1,550 1,200 1,455 1,250 1,114 1,280 1,000 750 592 591 881 798 500 250 2019 2020 2021 2022 2023…
  44. June 2021 Investor Presentation – PEMEX – slide 44
    Petroleum Products Production 2020-2026 Thousand barrel per day (Mbd) Petroleum Products Production1 1,506 1,506 1600 24 1,408 24 1,350 24 29 226 226 288 211 1200 1,070 67 67 996 29 57 26 56 470 470 443 800 270 288 368 56…
  45. June 2021 Investor Presentation – PEMEX – slide 45
    Consolidated Financial Balance 2020-2026 Constant MXN millions 2020 2021 2022 2023 2024 2025 2026 Income 1,283,413 1,819,907 1,993,472 1,943,841 2,079,346 2,120,729 2,125,782 Domestic sales 880,282 1,407,692 1,506,125 1,586,140…
  46. June 2021 Investor Presentation – PEMEX – slide 46
    Payment of Tax Contributions 2020-2026 Constant MXN billion Directs Indirects 1,200 1,041 1,053 1,054 948 980 897 900 433 420 437 455 598 522 600 545 399 300 608 633 617 525 353 426 199 0 2020 2021 2022 2023 2024 2025…
  47. June 2021 Investor Presentation – PEMEX – slide 47
    EBITDA1 and EBITDA Margin2 2020-2026 EBITDA margin Percentage 53% 57% 58% 57% 31% 37% 36% EBITDA MXN billion 948 984 957 798 458 498 182 2020 2021 2022 2023 2024 2025 2026 (Preliminary) 1. EBITDA: Earnings before…
  48. June 2021 Investor Presentation – PEMEX – slide 48
    Evolution of CAPEX and Operating Performance 2020-2026 Crude oil production 2.2 2.2 2.0 2.1 2.1 Million of barrels per day 1.9 1.7 Crude oil process Million of barrels per day 1.6 1.7 1.7 1.5 1.1 1.2 0.6 CAPEX MXN billion…
  49. June 2021 Investor Presentation – PEMEX – slide 49
    Main Goals 2021 2022 2023 2024 2025 Total crude oil production (Mbd) 1,944 2,033 2,079 2,164 2,161 Incorporation of 3P reserves by 750 950 950 950 950 discovery(MMboe) Crude Oil Processing (Mbd) 1,100 1,200 1,500 1,500 1,600…
  50. June 2021 Investor Presentation – PEMEX – slide 50
    INVESTOR RELATIONS (+52) 559126 2940 ripemex.com www.pemex.com/en/investor 2021. Petrleos Mexicanos. All the rights reserved.

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