Cover
Cover | 6 Months Ended |
Jun. 30, 2023 | |
Cover [Abstract] | |
Document Type | 6-K |
Entity Registrant Name | Mexican Petroleum |
Amendment Flag | false |
Document Fiscal Year Focus | 2023 |
Document Fiscal Period Focus | Q2 |
Entity Central Index Key | 0000932782 |
Current Fiscal Year End Date | --12-31 |
Document Period End Date | Jun. 30, 2023 |
Condensed Consolidated Interim
Condensed Consolidated Interim Statements of Financial Position - MXN ($) $ in Thousands | Jun. 30, 2023 | Dec. 31, 2022 |
Current assets: | ||
Cash and cash equivalents | $ 64,115,200 | $ 64,414,511 |
Customers, net | 113,476,185 | 107,117,145 |
Other financing receivables | 55,321,442 | 45,040,403 |
Other non-financing receivables | 89,767,475 | 122,722,019 |
Inventories | 112,402,011 | 126,018,397 |
Government Bonds | 29,229,148 | 46,526,257 |
Derivative financial instruments | 12,556,462 | 12,755,568 |
Other current assets | 1,843,888 | 3,300,478 |
Total current assets | 478,711,811 | 527,894,778 |
Non-current assets: | ||
Investments in joint ventures and associates | 1,787,482 | 2,043,966 |
Wells, pipelines, properties, plant and equipment, net | 1,331,419,805 | 1,368,750,850 |
Rights of use assets | 47,469,900 | 49,520,847 |
Long-term notes receivable, net of current portion | 1,372,338 | 1,334,126 |
Government Bonds | 52,869,024 | 63,653,260 |
Deferred income taxes and duties | 167,925,120 | 171,632,558 |
Intangible assets, net | 22,622,380 | 30,024,934 |
Other assets | 21,741,012 | 30,702,725 |
Total non-current assets | 1,647,207,061 | 1,717,663,266 |
Total assets | 2,125,918,872 | 2,245,558,044 |
Current liabilities: | ||
Short-term debt and current portion of long-term debt | 516,455,816 | 465,947,683 |
Short-term leases | 6,817,698 | 6,680,488 |
Suppliers | 231,157,760 | 282,245,250 |
Income taxes and duties payable | 119,472,009 | 70,813,355 |
Accounts and accrued expenses payable | 90,734,407 | 81,808,426 |
Derivative financial instruments | 31,231,609 | 22,242,056 |
Total current liabilities | 995,869,299 | 929,737,258 |
Long-term liabilities: | ||
Long-term debt, net of current portion | 1,370,161,140 | 1,625,516,313 |
Long-term leases, net of current portion | 38,397,506 | 44,451,087 |
Employee benefits | 1,336,858,386 | 1,306,886,675 |
Provisions for sundry creditors | 82,575,976 | 89,146,685 |
Other liabilities | 16,687,273 | 11,777,226 |
Deferred income taxes | 6,587,745 | 6,865,025 |
Total long-term liabilities | 2,851,268,026 | 3,084,643,011 |
Total liabilities | 3,847,137,325 | 4,014,380,269 |
Controlling interest: | ||
Certificates of Contribution “A” | 1,047,292,293 | 1,029,592,293 |
Mexican Government contributions | 66,730,591 | 66,730,591 |
Legal reserve | 1,002,130 | 1,002,130 |
Accumulated other comprehensive result | (512,338) | 51,737,388 |
Accumulated deficit: | ||
From prior years | (2,917,596,017) | (3,018,008,068) |
Net income for the period/year | 82,191,023 | 100,412,051 |
Total controlling interest | (1,720,892,318) | (1,768,533,615) |
Total non-controlling interest | (326,135) | (288,610) |
Total equity (deficit) | (1,721,218,453) | (1,768,822,225) |
Total liabilities and equity (deficit) | $ 2,125,918,872 | $ 2,245,558,044 |
Condensed Consolidated Interi_2
Condensed Consolidated Interim Statements of Comprehensive Income - MXN ($) $ in Thousands | 3 Months Ended | 6 Months Ended | |||
Jun. 30, 2023 | Jun. 30, 2022 | Jun. 30, 2023 | Jun. 30, 2022 | ||
Net revenues | |||||
Domestic | $ 218,906,899 | $ 334,388,776 | $ 461,221,788 | $ 588,042,769 | |
Incentive for automotive fuels | (374) | 64,529,190 | 19,163 | 75,055,185 | |
Export | 193,673,015 | 319,782,918 | 369,251,985 | 570,732,383 | |
Services income | 1,577,316 | 1,076,640 | 2,102,903 | 3,267,716 | |
Total revenues | 414,156,856 | 719,777,524 | 832,595,839 | 1,237,098,053 | |
(Impairment) reversal of impairment of wells, pipelines, properties, plant and equipment, net | (25,947,103) | 47,787,490 | (66,084,491) | 64,128,110 | |
Cost of sales | 328,562,776 | 473,350,048 | 632,545,139 | 798,798,083 | |
Gross income | 59,646,977 | 294,214,966 | 133,966,209 | 502,428,080 | |
Other revenues (expenses): | |||||
Distribution, transportation and sale expenses | 2,911,297 | 3,413,823 | 7,489,355 | 6,722,846 | |
Administrative expenses | 39,249,329 | 36,487,629 | 79,484,465 | 74,498,017 | |
Other revenues | 5,973,794 | 4,333,794 | 12,170,448 | 24,072,792 | |
Other expenses | 1,943,755 | 1,257,452 | 2,670,348 | 3,439,324 | |
Operating income | 21,516,390 | 257,389,856 | 56,492,489 | 441,840,685 | |
Financing income | [1] | 2,209,379 | 4,290,268 | 8,224,531 | 17,304,710 |
Financing cost | [2] | 36,605,455 | 34,740,755 | 74,780,817 | 64,247,055 |
Derivative financial instruments income (cost), net | 2,489,947 | (16,757,949) | 2,788,339 | (24,509,153) | |
Foreign exchange income, net | 105,359,430 | 19,648,210 | 230,676,132 | 81,450,171 | |
Sum of financing (costs) net, derivative instruments (cost) and foreign exchange income (loss), net | 73,453,301 | (27,560,226) | 166,908,185 | 9,998,673 | |
Profit sharing in joint ventures and associates | 42,013 | 97,142 | 151,969 | 161,148 | |
Income before duties, taxes and other | 95,011,704 | 229,926,772 | 223,552,643 | 452,000,506 | |
Profit sharing duty, net | 65,282,847 | 111,751,006 | 137,202,500 | 207,310,384 | |
Income tax (benefit) expense | 4,305,478 | (6,979,640) | 4,190,988 | (2,958,985) | |
Total duties, taxes and other | 69,588,325 | 104,771,366 | 141,393,488 | 204,351,399 | |
Net income | 25,423,379 | 125,155,406 | 82,159,155 | 247,649,107 | |
Currency translation effect | (23,999,531) | (376,243) | (52,255,383) | (19,156,118) | |
Actuarial gains (losses) - employee benefits, net of taxes | 0 | 158,392,790 | 0 | 158,392,790 | |
Total other comprehensive results | (23,999,531) | 158,016,547 | (52,255,383) | 139,236,672 | |
Total comprehensive income | 1,423,848 | 283,171,953 | 29,903,772 | 386,885,779 | |
Net income (loss) attributable to: | |||||
Controlling interest | 25,439,156 | 125,241,824 | 82,191,023 | 247,917,483 | |
Non-controlling interest | (15,777) | (86,418) | (31,868) | (268,376) | |
Net income | 25,423,379 | 125,155,406 | 82,159,155 | 247,649,107 | |
Other comprehensive results attributable to: | |||||
Controlling interest | (23,996,992) | 158,016,761 | (52,249,726) | 139,237,969 | |
Non-controlling interest | (2,539) | (214) | (5,657) | (1,297) | |
Total other comprehensive results | (23,999,531) | 158,016,547 | (52,255,383) | 139,236,672 | |
Comprehensive income (loss): | |||||
Controlling interest | 1,442,164 | 283,258,585 | 29,941,297 | 387,155,452 | |
Non-controlling interest | (18,316) | (86,632) | (37,525) | (269,673) | |
Total comprehensive income | $ 1,423,848 | $ 283,171,953 | $ 29,903,772 | $ 386,885,779 | |
[1]Includes financing income from investments and gain on discount rate of plugging of wells in 2023 and 2022.[2]Mainly interest on debt. |
Condensed Consolidated Interi_3
Condensed Consolidated Interim Statements of Changes in Equity (deficit) - MXN ($) $ in Thousands | Total | Certificates of Contribution “A” | Mexican Government contributions | Legal reserve | Accumulated other comprehensive result Cumulative currency translation effect | Accumulated other comprehensive result Actuarial (losses) gains on employee benefits effect | Accumulated deficit, for the year | Accumulated deficit, from prior years | Total | Non- controlling interest |
Beginning balance at Dec. 31, 2021 | $ (2,170,000,783) | $ 841,285,576 | $ 43,730,591 | $ 1,002,130 | $ 58,945,725 | $ (97,085,239) | $ (294,532,168) | $ (2,723,475,900) | $ (2,170,129,285) | $ 128,502 |
Equity [abstract] | ||||||||||
Transfer to accumulated deficit | 294,532,168 | (294,532,168) | ||||||||
Increase in Certificates of Contribution "A" | 90,437,539 | 90,437,539 | 90,437,539 | |||||||
Proceeds from the Fondo Nacional de Infraestructura (FONADIN) grants | 23,000,000 | 23,000,000 | 23,000,000 | |||||||
Total comprehensive income | 386,885,779 | (19,154,821) | 158,392,790 | 247,917,483 | 387,155,452 | (269,673) | ||||
Ending Balance at Jun. 30, 2022 | (1,669,677,465) | 931,723,115 | 66,730,591 | 1,002,130 | 39,790,904 | 61,307,551 | 247,917,483 | (3,018,008,068) | (1,669,536,294) | (141,171) |
Beginning balance at Dec. 31, 2021 | (2,170,000,783) | 841,285,576 | 43,730,591 | 1,002,130 | 58,945,725 | (97,085,239) | (294,532,168) | (2,723,475,900) | (2,170,129,285) | 128,502 |
Equity [abstract] | ||||||||||
Proceeds from the Fondo Nacional de Infraestructura (FONADIN) grants | 23,000,000 | |||||||||
Ending Balance at Dec. 31, 2022 | (1,768,822,225) | 1,029,592,293 | 66,730,591 | 1,002,130 | 25,437,210 | 26,300,178 | 100,412,051 | (3,018,008,068) | (1,768,533,615) | (288,610) |
Equity [abstract] | ||||||||||
Transfer to accumulated deficit | (100,412,051) | 100,412,051 | ||||||||
Increase in Certificates of Contribution "A" | 17,700,000 | 17,700,000 | 17,700,000 | |||||||
Total comprehensive income | 29,903,772 | (52,249,726) | 82,191,023 | 29,941,297 | (37,525) | |||||
Ending Balance at Jun. 30, 2023 | $ (1,721,218,453) | $ 1,047,292,293 | $ 66,730,591 | $ 1,002,130 | $ (26,812,516) | $ 26,300,178 | $ 82,191,023 | $ (2,917,596,017) | $ (1,720,892,318) | $ (326,135) |
Condensed Consolidated Interi_4
Condensed Consolidated Interim Statements of Cash Flows $ in Thousands, $ in Thousands | 6 Months Ended | ||
Jun. 30, 2023 MXN ($) | Jun. 30, 2022 MXN ($) | Jun. 30, 2022 USD ($) | |
Operating activities: | |||
Net income | $ 82,159,155 | $ 247,649,107 | |
Items related to investment activities | |||
Income taxes and duties | 141,393,488 | 204,351,399 | |
Depreciation and amortization of wells, pipelines, properties, plant and equipment | 56,791,178 | 69,413,993 | |
Amortization of intangible assets | 196,096 | 129,615 | |
Impairment (reversal of impairment) of wells, pipelines, properties, plant and equipment | 66,084,491 | (64,128,110) | |
Capitalized unsuccessful wells | 1,437,971 | 6,716,632 | |
Unsuccessful wells from intangible assets | 15,667,953 | 4,539,894 | |
Loss from derecognition of disposal of wells, pipelines, properties, plant and equipment | 3,454,946 | 2,014,611 | |
Depreciation of rights of use | 2,385,577 | 2,795,222 | |
Cancellation of leases | (122,679) | 0 | |
Unrealized foreign exchange loss of reserve for well abandonment | 2,024,600 | 1,614,548 | |
Reclassification of translation effect | 0 | (10,383,296) | $ (10,383,296) |
(Gains) on bargain purchase of business acquisition | 0 | (1,271,188) | |
(Profit) sharing in joint ventures and associates, net | (151,969) | (161,148) | |
Unrealized foreign exchange (income) | (212,796,067) | (80,028,226) | |
Interest expense | 74,780,817 | 64,247,055 | |
Interest income | (8,224,531) | (17,304,710) | |
Funds from operating activities | 225,081,026 | 430,195,398 | |
Funds from operating activities | |||
Profit-sharing duty and income tax paid | (111,964,235) | (192,454,948) | |
Derivative financial instruments | 9,188,660 | 14,078,638 | |
Customers and accounts receivable | 22,639,795 | (80,759,235) | |
Inventories | (4,946,859) | (66,383,907) | |
Accounts payable and accrued expenses | 8,925,982 | 17,197,257 | |
Suppliers | (27,102,713) | 29,558,609 | |
Provisions for sundry creditors | 3,660,500 | 7,645,561 | |
Employee benefits | 29,971,712 | 29,340,108 | |
Other taxes and duties | 18,952,118 | (11,145,004) | |
Net cash flows from operating activities | 174,405,986 | 177,272,477 | |
Investing activities | |||
Business acquisition, net of cash acquired | 0 | (30,012,486) | |
Interest collected | 1,310,166 | 739,870 | |
Other assets | 10,418,302 | (11,322,482) | |
Acquisition of wells, pipelines, properties, plant and equipment | (119,235,272) | (123,984,332) | |
Acquisition of intangible assets | (19,291,829) | (15,195,916) | |
Net cash flows (used in) investing activities | (126,798,633) | (179,775,346) | |
Financing activities: | |||
Increase in equity due to Certificates of Contribution “A” | 17,700,000 | 90,437,539 | |
Proceeds from FONADIN grants | 0 | $ 23,000,000 | |
Collections from the Mexican Government | 27,901,421 | 0 | |
Interest collected from the Mexican Government | 4,547,770 | 3,411,432 | |
Lease payments | (2,939,198) | (3,791,199) | |
Interest of lease paid | (1,036,176) | (1,604,918) | |
Loans obtained from financial institutions | 431,659,853 | 515,677,850 | |
Debt payments, principal only | (436,838,825) | (565,601,629) | |
Interest paid | (75,009,928) | (67,056,203) | |
Net cash flows (used in) from financing activities | (34,015,083) | (5,527,128) | |
Net increase (decrease) in cash and cash equivalents | 13,592,270 | (8,029,997) | |
Effects of foreign exchange on cash balances | (13,891,581) | (3,544,233) | |
Cash and cash equivalents at the beginning of the year | 64,414,511 | 76,506,447 | |
Cash and cash equivalents at the end of the period (Note 9) | $ 64,115,200 | $ 64,932,217 |
Structure and Business Operatio
Structure and Business Operations of Petroleos Mexicanos, Subsidiary Entities and Subsidiary Companies | 6 Months Ended |
Jun. 30, 2023 | |
Structure, business operations, subsidiary entities, and subsidiary companies [Abstract] | |
Structure and Business Operations of Petroleos Mexicanos, Subsidiary Entities and Subsidiary Companies | STRUCTURE AND BUSINESS OPERATIONS OF PETRÓLEOS MEXICANOS, SUBSIDIARY ENTITIES AND SUBSIDIARY COMPANIES Petróleos Mexicanos was created by a decree issued by the Mexican Congress on June 7, 1938. The decree was published in the Diario Oficial de la Federación (“Official Gazette of the Federation”) on July 20, 1938 and came into effect on that date. On December 20, 2013, the Decreto por el que se reforman y adicionan diversas disposiciones de la Constitución Política de los Estados Unidos Mexicanos, en Materia de Energía (Decree that amends and supplements various provisions of the Mexican Constitution relating to energy matters), was published in the Official Gazette of the Federation. This Decree came into effect on December 21, 2013 and includes transitional articles setting forth the general framework and timeline for implementing legislation relating to the energy sector. On August 11, 2014, the Ley de Petróleos Mexicanos (the “Petróleos Mexicanos Law”) was published in the Official Gazette of the Federation. The Petróleos Mexicanos Law became effective on October 7, 2014, except for certain provisions. On December 2, 2014, the Secretaría de Energía (“Ministry of Energy”) published in the Official Gazette of the Federation the declaration pursuant to which the special regime governing Petróleos Mexicanos’ activities relating to productive state-owned subsidiaries, affiliates, compensation, assets, administrative liabilities, state dividend, budget and debt came into effect. On June 10, 2015, the Disposiciones Generales de Contratación para Petróleos Mexicanos y sus Empresas Productivas Subsidiarias (General Contracting Provisions for Petróleos Mexicanos and its productive state-owned subsidiaries) was published in the Official Gazette of the Federation and the following day the special regime for acquisitions, leases, services and public works matters came into effect. Once the Petróleos Mexicanos Law came into effect, Petróleos Mexicanos was transformed from a decentralized public entity to a productive state-owned company. Petróleos Mexicanos is a legal entity empowered to own property and carry on business in its own name with the purpose of carrying out exploration and extraction of crude oil and other hydrocarbons in the United Mexican States (“Mexico”), as well as refining, processing, storing, transporting, selling and trading in these products. The Subsidiary Entities, Pemex Exploración y Producción (“Pemex Exploration and Production”), Pemex Transformación Industrial (“Pemex Industrial Transformation”) and Pemex Logística (“Pemex Logistics”) are productive state-owned subsidiaries empowered to own property and carry on business in their own name, subject to the direction and coordination of Petróleos Mexicanos (the “Subsidiary Entities”). The Subsidiary Entities and their primary purposes, are as follows: • Pemex Exploration and Production: This entity is in charge of the exploration and extraction of crude oil and solid, liquid or gaseous hydrocarbons in Mexico, in the exclusive economic zone of Mexico and abroad, as well as drilling services and repair and services of wells; • Pemex Industrial Transformation: This entity performs activities related to refining, transformation, processing, importing, exporting, trading and the sale of hydrocarbons, petroleum products, natural gas and petrochemicals, as well as commercializes, distributes and trades methane, ethane and propylene, directly or through others; and • Pemex Logistics: This entity provides transportation, storage and related services for crude oil, petroleum products and petrochemicals to PEMEX (as defined below) and other companies, through pipelines and maritime and terrestrial means, and provides guard and management services. The principal distinction between the Subsidiary Entities and the Subsidiary Companies (as defined below) is that the Subsidiary Entities are productive state-owned entities, whereas the Subsidiary Companies are affiliate companies that were formed in accordance with the applicable laws of each of the respective jurisdictions in which they were incorporated. The “Subsidiary Companies” are defined as those companies which are controlled, directly or indirectly, by Petróleos Mexicanos. “Associates,” as used herein, means those companies in which Petróleos Mexicanos has significant influence but not control or joint control over its financial and operating policies. Petróleos Mexicanos, the Subsidiary Entities and the Subsidiary Companies are referred to collectively herein as “PEMEX”. PEMEX’s address and its principal place of business is: Av. Marina Nacional No. 329, Col. Verónica Anzures, Alcaldía Miguel Hidalgo, 11300, Ciudad de México, México. |
Authorization and Basis of Prep
Authorization and Basis of Preparation | 6 Months Ended |
Jun. 30, 2023 | |
Disclosure of basis of preparation [Abstract] | |
Authorization and Basis of Preparation | AUTHORIZATION AND BASIS OF PREPARATION Authorization On September 8, 2023, these condensed consolidated interim financial statements prepared under the International Financial Reporting Standards (“IFRS”) and the notes hereto were authorized for issuance by the following officers: Mr. Octavio Romero Oropeza, Chief Executive Officer, Mr. Carlos Fernando Cortez González, Acting Chief Financial Officer, Mr. José María del Olmo Blanco, Acting Deputy Director of Budgeting and Accounting, and Mr. Óscar René Orozco Piliado, Associate Managing Director of Accounting. Basis of preparation A. Statement of compliance PEMEX prepared its condensed consolidated interim financial statements as of June 30, 2023 and December 31, 2022, and for the three and six-month periods ended June 30, 2023, and 2022, in accordance with IAS 34, “Interim Financial Reporting” (“IAS 34”) of the IFRS as issued by the International Accounting Standards Board (“IASB”). These condensed consolidated interim financial statements do not include all the information and disclosures required for full annual consolidated financial statements and should be read in conjunction with PEMEX’s audited consolidated financial statements as of and for the year ended December 31, 2022. PEMEX estimates that there is no significant impact on its condensed consolidated interim financial statements due to the seasonality of operations. These condensed consolidated interim financial statements follow the same accounting policies and methods of computation as PEMEX’s audited consolidated financial statements as of and for the year ended December 31, 2022. B. Basis of accounting These condensed consolidated interim financial statements have been prepared using the historical cost basis method, with the exception of the following items, which have been measured using an alternative basis. ITEM BASIS OF MEASUREMENT Derivative Financial Instruments (“DFIs”) Fair Value Employee Benefits Fair Value of plan assets less present value of the obligation (defined benefit plan) C. Going concern The condensed consolidated interim financial statements have been prepared on a going concern basis, which assumes that PEMEX will be able to continue its operations and can meet its payment obligations for a reasonable period (See Note 18-F). D. Functional and reporting currency These condensed consolidated interim financial statements are presented in Mexican pesos, which is both PEMEX’s functional currency and reporting currency, due to the following: i. The economic environment in which PEMEX operates is Mexico, where the legal currency is the Mexican peso; ii. The budget through which Petróleos Mexicanos and its Subsidiary Entities operate as entities of the Mexican Government, including the ceiling for personnel services, is elaborated, approved and exercised in Mexican pesos; iii. Employee benefits provision was approximately 35% and 33% of PEMEX’s total liabilities as of June 30, 2023 and December 31, 2022, respectively. This provision is computed, denominated and payable in Mexican pesos; and iv. Cash flows for payment of general expenses, taxes and duties are realized in Mexican pesos. Although the sales prices of certain products are based on international U.S. dollar-indices, final domestic selling prices are governed by the economic and financial policies established by the Mexican Government. Accordingly, cash flows from domestic sales are generated and received in Mexican pesos. With regards to PEMEX’s foreign currency (export sales, borrowings, etc.), Mexico’s monetary policy regulator, the Banco de México (“Mexican Central Bank”), requires that Mexican Government entities other than financial entities sell their foreign currency to the Mexican Central Bank in accordance with its terms, receiving Mexican pesos in exchange, which is the currency of legal tender in Mexico. Terms definition – References in these condensed consolidated interim financial statements and the related notes to “pesos” or “Ps.” refers to Mexican pesos, “U.S. dollars” or “U.S.$” refers to dollars of the United States of America, “yen” or “¥” refers to Japanese yen, “euro” or “€” refers to the legal currency of the European Economic and Monetary Union, “pounds sterling” or “£” refers to the legal currency of the United Kingdom and “Swiss francs” or “CHF” refers to the legal currency of the Swiss Confederation. Figures in all currencies are presented in thousands of the relevant currency unit, except exchange rates and product and share prices. E. Use of judgments and estimates The preparation of the condensed consolidated interim financial statements in accordance with IFRS requires the use of estimates and assumptions made by PEMEX’s management that affect the recorded amounts of assets and liabilities and the disclosures of contingent assets and liabilities as of the date of these condensed consolidated interim financial statements, as well as the recorded amounts of income, costs and expenses during the period. Actual results may differ from these estimates. Significant estimates and underlying assumptions are reviewed, and the effects of such revisions are recognized in the periods in which any estimates are revised and in any future periods affected by such revision. The significant judgements made by management in applying PEMEX’s accounting policies and the key sources of estimation uncertainty were the same as those described in PEMEX’s audited consolidated financial statements as of and for the year ended December 31, 2022. i. Measurement of fair values Some of PEMEX’s accounting policies and disclosures require the measurement of the fair values of financial assets and liabilities, as well as non-financial assets and liabilities. PEMEX has an established control framework with respect to the measurement of fair values. This includes a valuation team that has overall responsibility for overseeing all significant fair value measurements, including Level 3 fair values. The valuation team regularly reviews significant unobservable inputs and valuation adjustments. If third party information, such as broker quotes or pricing services, is used to measure fair values, then the valuation team assesses the evidence obtained from the third parties to support the conclusion that these valuations meet the requirements of IFRS, including the level in the fair value hierarchy in which the valuations should be classified. When measuring the fair value of an asset or a liability, PEMEX uses market observable data as far as possible. Fair values are categorized into different levels in a fair value hierarchy based on the inputs used in the valuation techniques as follows: • Level 1: quoted prices (unadjusted) in active markets for identical assets or liabilities. • Level 2: inputs other than quoted prices included in Level 1 that are observable for the asset or liability, either directly ( i.e. , as prices) or indirectly ( i.e. , derived from prices). • Level 3: inputs for the asset or liability that are not based on observable market data (unobservable inputs). If the inputs used to measure the fair value of an asset or a liability might be categorized in different levels of the fair value hierarchy, then the fair value measurement is categorized in its entirety in the same level of the fair value hierarchy as the lowest level input that is significant to the entire measurement. PEMEX recognizes transfers between levels of the fair value hierarchy at the end of the reporting period during which the change has occurred. |
Significant Accounting Policies
Significant Accounting Policies | 6 Months Ended |
Jun. 30, 2023 | |
Disclosure of voluntary change in accounting policy [abstract] | |
Significant Accounting Policies | SIGNIFICANT ACCOUNTING POLICIESThe accounting policies applied in the preparation of these condensed consolidated interim financial statements are consistent with those applied in the preparation of PEMEX’s annual consolidated financial statements as of and for the year ended December 31, 2022, except for the adoption of new standards effective as of January 1, 2023. However, these new standards have not had a material effect on the condensed consolidated interim financial statements of PEMEX. |
New Standards Recently Issued
New Standards Recently Issued | 6 Months Ended |
Jun. 30, 2023 | |
Disclosure of changes in accounting estimates [abstract] | |
New Standards Recently Issued | NEW STANDARDS RECENTLY ISSUED The following amended standards and interpretations have not had a significant impact or are not anticipated to have it on the PEMEX’s consolidated financial statements: i. Applicable as of January 1, 2023 • Insurance Contracts (Amendments to IFRS 17) • Definition of Accounting Estimates (Amendments to IAS 8) • Disclosure of Accounting Policies (Amendments to IAS 1 and IFRS Practice Statement 2) • Deferred Tax related to Assets and Liabilities arising from a Single Transaction (Amendments to IAS 12) ii. Applicable as of January 1, 2024 • Classification of Liabilities as Current or Non-current (Amendments to IAS 1) • Lease Liability in a Sale and Leaseback (Amendments to IFRS 16) • Non-current Liabilities with Covenants (Amendments to IAS 1) |
Subsidiary Entities and Subsidi
Subsidiary Entities and Subsidiary Companies | 6 Months Ended |
Jun. 30, 2023 | |
Disclosure of subsidiaries [abstract] | |
Subsidiary Entities and Subsidiary Companies | SUBSIDIARY ENTITIES AND SUBSIDIARY COMPANIES As of June 30, 2023 and December 31, 2022, the Subsidiary Entities consolidated in these financial statements include Pemex Exploration and Production, Pemex Industrial Transformation and Pemex Logistics. As of June 30, 2023 and December 31, 2022, the consolidated Subsidiary Companies are as follows: • P.M.I. Trading, DAC. (“PMI Trading”) (i)(iii)(vii) • P.M.I. Holdings Petróleos España, S.L.U. (“HPE”) (i)(iii)(v) • P.M.I. Services North America, Inc. (“PMI SUS”) (i)(iii)(vi) • P.M.I. Norteamérica, S.A. de C.V. (“PMI NASA”) (i)(iii)(iv) • P.M.I. Comercio Internacional, S.A. de C.V. (“PMI CIM”) (i)(ii)(iv) • PMI Campos Maduros SANMA, S. de R.L. de C.V. (“SANMA”) (iii)(iv) • Pro-Agroindustria, S.A. de C.V. (“AGRO”) (iii)(iv) • PTI Infraestructura de Desarrollo, S.A. de C.V. (“PTI ID”) (iii)(iv) • P.M.I. Servicios Portuarios Transoceánico, S.A. de C.V. (“PMI SP”) (i)(iii)(iv) • Pemex Procurement International, Inc. (“PPI”) (iii)(vi) • Pemex Finance Limited (“FIN”) (iii)(ix) • Mex Gas Internacional, S.L. (“MGAS”) (iii)(iv) • Pemex Desarrollo e Inversión de Proyectos, S.A. de C.V. (“PDII”) (iii)(iv)(xii) • KOT Insurance Company, AG. (“KOT”) (iii)(viii) • PPQ Cadena Productiva, S.L.U. (“PPQCP”) (iii)(iv) • I.I.I. Servicios, S.A. de C.V. (“III Servicios”) (iii)(iv) • PMI Ducto de Juárez, S. de R.L. de C.V. (“PMI DJ”) (i)(iii)(iv) • PMX Fertilizantes Holding, S.A. de C.V. (“PMX FH”) (iii)(iv) • PMX Fertilizantes Pacífico, S.A. de C.V. (“PMX FP”) (iii)(iv) • Grupo Fertinal, S.A. de C.V. (“GP FER”) (iii)(iv) • Compañía Mexicana de Exploraciones, S.A. de C.V. (“COMESA”) (ii)(iv) • P.M.I. Trading México, S.A. de C.V. (“TRDMX”) (i)(iii)(iv) • Holdings Holanda Services, B.V. (“HHS”) (iii)(x) • Deer Park Refining Limited Partnership (“Deer Park” or “DPRLP”) (vi)(xi) (i) Member Company of the “PMI Subsidiaries.” (ii) Non-controlling interest company (98.33% in PMI CIM and 60.0% in COMESA). (iii) Petróleos Mexicanos owns 100.0% of the interests in this Subsidiary Company. (iv) Operates in Mexico. (v) Operates in Spain. (vi) Operates in the United States of America. (vii) Operates in Ireland. (viii) Operates in Switzerland. (ix) Operates in the Cayman Islands. (x) Operates in the Netherlands. (xi) Consolidated as of January 2022. (xii) Formerly Pemex Desarrollo e Inversión Inmobiliaria, S.A. de C.V., until April 20, 2023. |
Segment Financial Information
Segment Financial Information | 6 Months Ended |
Jun. 30, 2023 | |
Disclosure of operating segments [abstract] | |
Segment Financial Information | SEGMENT FINANCIAL INFORMATION PEMEX’s primary business is the exploration and production of crude oil and natural gas, as well as the production, processing, marketing and distribution of petroleum and petrochemical products. As of June 30, 2023 and December 31, 2022, PEMEX’s operations were conducted through seven business segments: 1. Exploration and Production; 2. Industrial Transformation; 3. Logistics; 4. Deer Park (beginning January 20, 2022); 5. Trading Companies; 6. Corporate; and 7. Other Operating Subsidiary Companies. Due to PEMEX’s structure, there are significant amounts of inter-segment sales among the reporting segments, which are made at market prices. The primary sources of revenue for PEMEX’s business segments are as described below: • The Exploration and Production segment earns revenues from domestic sales of crude oil and natural gas, and from exporting crude oil through certain of the Trading Companies (as defined below). Crude oil export sales are made through the agent subsidiary company PMI CIM, to 16 major customers in various foreign markets. Approximately half of PEMEX’s crude oil is sold to Pemex Industrial Transformation. Additionally, it receives income from drilling services, and servicing and repairing wells. • The Industrial Transformation segment earns revenues from sales of refined petroleum products and derivatives, mainly to third parties within the domestic market. This segment also sells a significant portion of the fuel oil it produces to the Comisión Federal de Electricidad (Federal Eletricity Commission, or “CFE”) and a significant portion of jet fuel produced to the Aeropuertos y Servicios Auxiliares (Airports and Auxiliary Services Agency or “ASA”). This segment’s most important products are different types of gasoline and diesel. The Industrial Transformation segment also earns revenues from domestic sources generated by sales of natural gas, liquefied petroleum gas, naphtha, butane and ethane and certain other petrochemicals such as methane derivatives, ethane derivatives, aromatics, ammonia, fertilizers and its derivatives. • The Logistics segment earns income from transportation and storage of crude oil, petroleum products and petrochemicals, as well as related services, which it provides by employing pipelines and offshore and onshore resources, and from providing services related to the maintenance, handling, guarding and management of these products. • Effective January 20, 2022, the Deer Park segment includes DPRLP's operations, whose operating results and performance are currently and regularly reviewed as a separate business by PEMEX's Board of Directors. DPRLP generates revenues from sales of distillates and gasoline in the U.S. market. • The Trading Companies segment, which consist of PMI CIM, PMI NASA, PMI Trading and MGAS (the “Trading Companies”), earns revenues from trading crude oil, natural gas and petroleum and petrochemical products in international markets. • The Corporate segment provides administrative, financing and consulting services to PEMEX’s subsidiary entities and companies. • The Other Operating Subsidiary Companies segment provides administrative, financing, consulting and logistical services, as well as economic, tax and legal advice and re-insurance services to PEMEX’s subsidiary entities and companies. The following tables present the condensed financial information of these segments, after elimination of unrealized intersegment gain (loss), and include only select line items. The columns before intersegment eliminations include unconsolidated figures. As a result, the line items presented below may not total. These reporting segments are those which PEMEX’s management evaluates in its analysis and on which it bases its decision-making. These reporting segments are presented in PEMEX’s reporting currency. As of/for the six-month period ended June 30, 2023 Exploration Industrial Logistics DPRLP Trading Corporate Other Intersegment Total Revenues: Trade Ps. 210,208,695 391,599,929 — 81,871,944 136,828,605 — 9,983,763 — Ps. 830,492,936 Intersegment 243,185,733 122,295,916 54,666,766 6,247,343 281,288,494 45,034,813 26,984,640 (779,703,705) — Services income 13,179 164,645 884,275 — 1,012,550 457 27,797 — 2,102,903 (Impairment) reversal of impairment of wells, pipelines, properties, plant and equipment, net (59,536,095) (6,548,396) — — — — — — (66,084,491) Cost of sales 225,377,034 577,117,863 40,042,416 80,669,955 409,704,279 460,531 32,732,333 (733,559,272) 632,545,139 Gross income (loss) 168,494,478 (69,605,769) 15,508,625 7,449,332 9,425,370 44,574,739 4,263,867 (46,144,433) 133,966,209 Distribution, transportation and sale expenses 316,937 9,571,998 124,281 — 54,240 16,959 40,072 (2,635,132) 7,489,355 Administrative expenses 36,044,430 33,205,975 10,518,433 376,269 1,278,091 38,132,660 3,270,774 (43,342,167) 79,484,465 Other revenue 1,567,552 6,675,653 1,008,815 13,848 363,057 633,924 1,907,599 — 12,170,448 Other expenses 2,399,104 19,848 1,451 275,190 140,995 952 3,527 (170,719) 2,670,348 Operating income (loss) 131,301,559 (105,727,937) 5,873,275 6,811,721 8,315,101 7,058,092 2,857,093 3,585 56,492,489 Financing income 30,052,525 559,823 9,175,301 342,625 206,440 78,981,548 603,430 (111,697,161) 8,224,531 Financing cost 61,914,236 17,221,094 200,419 79,092 2,560,933 103,293,487 1,205,132 (111,693,576) 74,780,817 Derivative financial instruments income (cost), net 7,277,345 390,478 — — (174,255) (4,705,229) — — 2,788,339 Foreign exchange income (loss), net 120,010,658 116,517,971 180,487 — 67,687 (10,448,807) 4,348,136 — 230,676,132 Profit (loss) sharing in joint ventures and associates (36,008) 2,536,741 44 — 12,703,617 113,450,915 18,693,622 (147,196,962) 151,969 Total duties, taxes and other 137,788,248 — 3,986,924 68,655 401,312 (1,147,993) 296,342 — 141,393,488 Net income Ps. 88,903,595 (2,944,018) 11,041,764 7,006,599 18,156,345 82,191,025 25,000,807 (147,196,962) 82,159,155 Total current assets 843,095,989 244,095,842 274,576,032 29,017,242 200,879,944 1,520,298,659 105,043,856 (2,738,295,753) 478,711,811 Total non-current assets 842,714,333 493,465,218 155,495,584 27,365,605 99,590,366 291,681,281 399,253,967 (662,359,293) 1,647,207,061 Total current liabilities 503,725,524 1,052,497,596 84,161,480 7,644,001 152,008,082 1,884,684,765 49,373,312 (2,738,225,461) 995,869,299 Total long-term liabilities 1,779,099,360 617,484,028 78,146,459 3,940,414 330,424 1,648,187,493 46,948,084 (1,322,868,236) 2,851,268,026 Total equity (deficit) (597,014,562) (932,420,564) 267,763,677 44,798,432 148,131,804 (1,720,892,318) 407,976,427 660,438,651 (1,721,218,453) Depreciation and amortization of wells, pipelines, properties, plant and equipment 45,405,980 5,706,197 3,157,246 1,056,479 149,289 283,832 1,032,155 — 56,791,178 Depreciation of rights of use 113,458 1,587,118 211,854 — 122,344 294,821 55,982 — 2,385,577 Net periodic cost of employee benefits 18,748,351 27,211,126 4,349,264 — 2,051 16,638,728 23,002 — 66,972,522 Interest income (1) 89,075 485,865 32,888 184,924 40,456 6,133,697 365,906 — 7,332,811 Interest cost (2) (225,250) 1,725,577 199,954 79,092 2,147,091 64,305,915 1,078,318 — 69,310,697 (1) Included in financing income. (2) Included in financing cost. As of/for the three-month period ended June 30, 2023 Exploration Industrial Logistics DPRLP Trading Corporate Other Intersegment Total Revenues: Trade Ps. 110,946,624 178,768,338 — 43,120,554 73,435,364 — 6,308,660 — Ps. 412,579,540 Intersegment 119,412,979 60,765,403 29,994,502 587,387 132,348,619 24,362,588 13,414,644 (380,886,122) — Services income 6,419 121,522 938,914 (222) 502,541 225 7,917 — 1,577,316 (Impairment) reversal of impairment of wells, pipelines, properties, plant and equipment, net (18,867,771) (7,079,332) — — — — — — (25,947,103) Cost of sales 121,795,236 277,734,654 21,622,942 41,697,687 203,398,658 315,117 17,483,960 (355,485,478) 328,562,776 Gross income (loss) 89,703,015 (45,158,723) 9,310,474 2,010,032 2,887,866 24,047,696 2,247,261 (25,400,644) 59,646,977 Distribution, transportation and sale expenses 148,578 3,985,661 76,746 — (25,611) (17,883) 19,442 (1,275,636) 2,911,297 Administrative expenses 19,585,824 17,219,109 5,279,115 150,244 763,313 18,450,331 1,529,133 (23,727,740) 39,249,329 Other revenue 702,841 2,843,993 973,245 9,590 150,105 568,126 725,894 — 5,973,794 Other expenses 1,744,962 (765) 444,794 137,247 19,922 952 3,039 (406,396) 1,943,755 Operating income (loss) 68,926,492 (63,518,735) 4,483,064 1,732,131 2,280,347 6,182,422 1,421,541 9,128 21,516,390 Financing income 13,880,957 348,807 4,552,787 204,983 108,226 37,157,911 254,191 (54,298,483) 2,209,379 Financing cost 28,815,708 9,588,288 118,058 38,100 1,241,563 50,473,637 619,456 (54,289,355) 36,605,455 Derivative financial instruments income (cost), net 3,050,956 174,753 — — (268,857) (466,905) — — 2,489,947 Foreign exchange income (loss), net 54,114,570 55,403,887 106,473 — 32,713 (6,566,620) 2,268,407 — 105,359,430 Profit (loss) sharing in joint ventures and associates (36,963) 1,398,321 44 — 3,121,162 39,013,523 4,551,956 (48,006,030) 42,013 Total duties, taxes and other 65,582,750 — 3,920,277 56,177 335,393 (592,463) 286,191 — 69,588,325 Net income Ps. 45,537,554 Ps. (15,781,255) Ps. 5,104,033 Ps. 1,842,837 Ps. 3,696,635 Ps. 25,439,157 Ps. 7,590,448 Ps. (48,006,030) Ps. 25,423,379 Depreciation and amortization of wells, pipelines, properties, plant and equipment 23,246,437 2,695,759 1,552,736 494,220 67,644 132,626 546,198 — 28,735,620 Depreciation of rights of use 43,680 811,153 115,262 (135,604) 60,417 147,410 35,600 — 1,077,918 Net periodic cost of employee benefits 9,374,176 13,702,260 2,174,632 — 459 8,319,364 11,162 — 33,582,053 Interest income (1) 47,401 329,116 (2,874) 101,007 29,474 2,178,823 147,347 — 2,830,294 Interest cost (2) (76,444) 847,327 118,004 38,100 1,031,926 32,008,505 573,675 — 34,541,093 (1) Included in financing income. (2) Included in financing cost. As of/for the six-month period ended June 30, 2022 Exploration Industrial Logistics DPRLP (1) Trading Corporate Other Intersegment Total Revenues: Trade 308,298,472 618,726,186 — 126,668,052 169,781,579 — 10,356,048 — 1,233,830,337 Intersegment 374,019,724 145,380,711 41,159,889 8,413,658 379,281,826 38,006,417 32,371,556 (1,018,633,781) — Services income 55,992 542,874 755,518 837,375 1,069,040 528 6,389 — 3,267,716 Reversal of impairment of wells, pipelines, properties, plant and equipment, net 21,547,474 40,823,408 1,474,790 — 282,438 — — — 64,128,110 Cost of sales 280,517,474 767,234,738 29,597,122 120,070,610 541,457,523 557,103 40,759,361 (981,395,848) 798,798,083 Gross income (loss) 423,404,188 38,238,441 13,793,075 15,848,475 8,957,360 37,449,842 1,974,632 (37,237,933) 502,428,080 Distribution, transportation and sales expenses 226,909 7,989,966 59,280 — 558,584 (3,187) 38,666 (2,147,372) 6,722,846 Administrative expenses 31,412,215 28,375,029 8,800,091 508,938 1,410,341 35,620,463 3,392,418 (35,021,478) 74,498,017 Other revenue 3,484,143 3,063,566 177,347 3,133,094 10,580,467 230,142 3,404,033 — 24,072,792 Other expenses 2,264,706 375,144 (30,061) — 540,935 370,102 941 (82,443) 3,439,324 Operating income (loss) 392,984,501 4,561,868 5,141,112 18,472,631 17,027,967 1,692,606 1,946,640 13,360 441,840,685 Financing income 44,686,370 164,570 5,079,505 — 222,582 77,818,150 133,207 (110,799,674) 17,304,710 Financing cost 59,434,819 15,457,118 296,757 214,475 1,397,534 97,690,436 542,231 (110,786,315) 64,247,055 Derivative financial instruments (cost) income, net (20,621,361) (10,391) — — (2,930,121) (947,280) — — (24,509,153) Foreign exchange gain (loss), net 74,693,931 8,282,488 8,240 — (146,636) (2,072,184) 684,332 — 81,450,171 Profit (loss) sharing in joint ventures and associates (405,548) 341,643 6 — 18,885,053 267,989,641 40,820,699 (327,470,346) 161,148 Taxes, duties and other 208,691,330 — (2,578,759) — (722,559) (1,126,984) 88,371 — 204,351,399 Net income (loss) 223,211,744 (2,116,940) 12,510,865 18,258,156 32,383,870 247,917,481 42,954,276 (327,470,345) 247,649,107 Depreciation and amortization of wells, pipelines, properties, plant and equipment 56,101,453 6,770,498 2,971,718 2,147,037 184,256 282,795 956,236 — 69,413,993 Depreciation of rights of use 186,043 1,862,027 318,829 — 358,045 33,486 36,792 — 2,795,222 Net periodic cost of employee benefits 17,814,976 25,952,724 4,009,029 — 875 15,802,644 21,011 — 63,601,259 Interest income (2) 69,819 164,090 — — 27,615 4,453,222 17,349 — 4,732,095 Interest cost (3) 144,764 2,062,076 300,178 214,475 1,226,182 62,203,369 476,806 — 66,627,850 (1) Beginning January 20, 2022, DPRLP information is now included as a separate business segment. (2) Included in financing income. (3) Included in financing cost. As of/for the three-month period ended June 30, 2022 Exploration Industrial Logistics DPRLP (1) Trading Corporate Other Intersegment Total Revenues: Trade 176,402,007 372,336,628 — 74,122,078 90,954,226 — 4,885,945 — 718,700,884 Intersegment 202,242,892 81,438,009 22,608,212 16,063,587 243,866,576 21,491,009 22,859,915 (610,570,200) — Services income 45,833 240,376 332,289 (10,005) 464,770 221 3,156 — 1,076,640 Reversal of impairment of wells, pipelines, properties, plant and equipment, net 9,990,163 36,040,099 1,474,790 — 282,438 — — — 47,787,490 Cost of sales 154,405,392 452,943,152 15,967,750 78,458,043 334,450,072 306,429 25,769,717 (588,950,507) 473,350,048 Gross income (loss) 234,275,503 37,111,960 8,447,541 11,717,617 1,117,938 21,184,801 1,979,299 (21,619,693) 294,214,966 Distribution, transportation and sales expenses 95,812 4,143,250 43,281 — 257,652 (5,308) 23,635 (1,144,499) 3,413,823 Administrative expenses 17,086,738 14,507,399 4,443,379 508,132 753,675 17,435,165 2,157,880 (20,404,739) 36,487,629 Other revenue 1,152,714 1,790,925 162,645 (37,434) 144,191 99,443 1,021,310 — 4,333,794 Other expenses 691,951 262,533 (21,840) — 411,970 62 195 (87,419) 1,257,452 Operating income (loss) 217,553,716 19,989,703 4,145,366 11,172,051 (161,168) 3,854,325 818,899 16,964 257,389,856 Financing income 17,205,283 105,124 2,744,749 — 135,093 39,675,983 106,516 (55,682,480) 4,290,268 Financing cost 30,858,509 8,145,452 143,080 90,462 768,596 50,092,918 307,257 (55,665,519) 34,740,755 Derivative financial instruments (cost) income, net (15,003,046) (11,554) — — (1,476,609) (266,740) — — (16,757,949) Foreign exchange gain (loss), net 15,945,048 4,611,961 16,825 — (64,713) (548,431) (312,480) — 19,648,210 (Loss) profit sharing in joint ventures and associates (111,041) 62,323 (1,121) — 10,085,425 131,492,618 16,961,908 (158,392,970) 97,142 Taxes, duties and other 113,131,952 — (6,814,141) — (499,450) (1,126,984) 79,989 — 104,771,366 Net income (loss) 91,599,499 16,612,105 13,576,880 11,081,589 8,248,882 125,241,821 17,187,597 (158,392,967) 125,155,406 Depreciation and amortization of wells, pipelines, properties, plant and equipment 29,691,333 3,271,172 1,489,959 1,100,491 92,774 134,641 490,130 — 36,270,500 Depreciation of rights of use 16,230 931,013 144,078 — 175,734 16,743 18,555 — 1,302,353 Net periodic cost of employee benefits 8,578,072 12,600,962 1,790,501 — (1,378) 7,607,346 10,506 — 30,586,009 Interest income (2) 37,475 104,695 (746) — 8,243 1,425,746 45,226 — 1,620,639 Interest cost (3) 44,344 903,139 151,231 214,475 651,075 31,596,305 274,608 — 33,835,177 (1) Beginning January 20, 2022, DPRLP information is now included as a separate business segment. (2) Included in financing income. (3) Included in financing cost. As of/for the year ended December 31, 2022 Exploration Industrial Logistics DPRLP (1) Trading Companies Corporate Other Intersegment Total Total current assets 915,532,623 296,527,986 251,070,455 31,935,985 208,042,447 1,548,257,534 101,716,681 (2,825,188,933) 527,894,778 Total non-current assets 886,317,756 502,433,210 160,667,832 32,675,568 104,756,605 431,460,970 407,146,635 (807,795,310) 1,717,663,266 Total current liabilities 519,212,766 1,078,322,279 79,817,063 10,287,103 163,897,630 1,856,611,334 46,619,334 (2,825,030,251) 929,737,258 Total non-current liabilities 1,968,555,771 614,563,455 75,200,326 4,153,387 513,730 1,891,640,785 42,864,055 (1,512,848,498) 3,084,643,011 Equity (deficit), net (685,918,158) (893,924,538) 256,720,899 50,171,062 148,387,691 (1,768,533,615) 419,379,927 704,894,507 (1,768,822,225) (1) Beginning January 20, 2022, DPRLP information is now included as a separate business segment |
Revenue
Revenue | 6 Months Ended |
Jun. 30, 2023 | |
Disclosure of disaggregation of revenue from contracts with customers [abstract] | |
Revenue | REVENUE A. Revenue disaggregation For the six- and three-month periods ended June 30, 2023 and 2022, the revenues were as follows: For the six-month period ended June 30, Exploration and Production Industrial Transformation Logistics DPRLP (1) Trading Corporate Other Operating Total Geographical market 2023 United States Ps. 136,012,733 — — 81,871,944 68,962,617 — 869,253 287,716,547 Other 39,759,687 — — — 5,264,697 — 40,520 45,064,904 Europe 33,896,770 — — — 2,573,765 — — 36,470,535 Local 552,684 391,745,411 884,275 — 61,040,076 457 9,101,787 463,324,690 Incentive for automotive fuels (2) — 19,163 — — — — — 19,163 Total Ps. 210,221,874 391,764,574 884,275 81,871,944 137,841,155 457 10,011,560 832,595,839 2022 United States Ps. 206,219,194 — — 127,505,427 125,401,036 — 980,535 460,106,192 Other 68,066,246 — — — 4,147,571 — 3,047,940 75,261,757 Europe 33,875,463 — — — 2,326,347 — — 36,201,810 Local 193,561 544,213,875 755,518 — 38,975,665 528 6,333,962 590,473,109 Incentive for automotive fuels (2) — 75,055,185 — — — — — 75,055,185 Total Ps. 308,354,464 619,269,060 755,518 127,505,427 170,850,619 528 10,362,437 1,237,098,053 Major products and services 2023 Crude oil Ps. 210,131,099 — — — 1,955,375 — — 212,086,474 Gas 77,596 31,648,990 — 2,439,805 17,270,489 — — 51,436,880 Refined petroleum products — 357,697,788 — 539,640 117,146,844 — — 475,384,272 Incentive for automotive fuels (2) — 19,163 — — — — — 19,163 Other — 2,233,988 — 78,892,499 455,897 — 9,983,763 91,566,147 Services 13,179 164,645 884,275 — 1,012,550 457 27,797 2,102,903 Total Ps. 210,221,874 391,764,574 884,275 81,871,944 137,841,155 457 10,011,560 832,595,839 2022 Crude oil Ps. 308,160,903 — — — — — — 308,160,903 Gas 137,569 64,589,228 — 4,592,291 49,777,615 — — 119,096,703 Refined petroleum products 467,335,043 — 61,044,103 117,463,434 — — 645,842,580 Incentive for automotive fuels (2) — 75,055,185 — — — — — 75,055,185 Other — 11,746,730 — 61,031,658 2,540,530 — 10,356,048 85,674,966 Services 55,992 542,874 755,518 837,375 1,069,040 528 6,389 3,267,716 Total Ps. 308,354,464 619,269,060 755,518 127,505,427 170,850,619 528 10,362,437 1,237,098,053 Timing of revenue recognition 2023 Products transferred at a point in time Ps. 210,208,695 381,329,360 884,275 81,871,944 136,828,605 — 9,983,763 821,106,642 Products and services transferred over the time 13,179 10,435,214 — — 1,012,550 457 27,797 11,489,197 Total Ps. 210,221,874 391,764,574 884,275 81,871,944 137,841,155 457 10,011,560 832,595,839 2022 Products transferred at a point in time Ps. 308,298,472 590,794,339 755,518 126,668,052 169,781,579 — 10,356,048 1,206,654,008 Products and services transferred over the time 55,992 28,474,721 — 837,375 1,069,040 528 6,389 30,444,045 Total Ps. 308,354,464 619,269,060 755,518 127,505,427 170,850,619 528 10,362,437 1,237,098,053 (1) Beginning January 20, 2022 DPRLP information is now included as a separate business segment. (2) For more information on the incentive for automotive fuels see Note 7-D below. For the three-month periods ended June 30, Exploration and Production Industrial Transformation Logistics DPRLP (1) Trading Corporate Other Operating Total Geographical market 2023 United States Ps. 69,342,075 — — 43,120,332 34,568,985 — 400,358 147,431,750 Other 22,290,415 — — — 3,245,955 — 27,773 25,564,143 Europe 18,818,524 — — — 1,858,790 — — 20,677,314 Local 502,029 178,890,234 938,914 — 34,264,175 225 5,888,446 220,484,023 Incentive for automotive fuels (2) — (374) — — — — — (374) Total Ps. 110,953,043 178,889,860 938,914 43,120,332 73,937,905 225 6,316,577 414,156,856 2022 United States Ps. 112,342,310 — — 74,112,073 66,505,495 — 151,366 253,111,244 Other 45,308,316 — — — 1,893,485 — 178,370 47,380,171 Europe 18,698,464 — — — 583,036 — — 19,281,500 Local 98,750 308,047,814 332,289 — 22,436,980 221 4,559,365 335,475,419 Incentive for automotive fuels (2) — 64,529,190 — — — — — 64,529,190 Total Ps. 176,447,840 372,577,004 332,289 74,112,073 91,418,996 221 4,889,101 719,777,524 Major products and services 2023 Crude oil Ps. 110,912,923 — — — 1,274,349 — — 112,187,272 Gas 33,701 13,975,569 — 2,439,805 6,791,280 — — 23,240,355 Refined petroleum products — 164,464,859 — (34,383,489) 65,086,715 — — 195,168,085 Incentive for automotive fuels (2) — (374) — — — — — (374) Other — 328,284 — 75,064,238 283,020 — 6,308,660 81,984,202 Services 6,419 121,522 938,914 (222) 502,541 225 7,917 1,577,316 Total Ps. 110,953,043 178,889,860 938,914 43,120,332 73,937,905 225 6,316,577 414,156,856 2022 Crude oil Ps. 176,349,089 — — — (545,108) — — 175,803,981 Gas 52,918 33,842,246 — 4,592,291 27,766,467 — — 66,253,922 Refined petroleum products — 266,504,836 — 43,645,022 63,577,862 — — 373,727,720 Incentive for automotive fuels (2) — 64,529,190 — — — — — 64,529,190 Other — 7,460,356 — 25,884,765 155,005 — 4,885,945 38,386,071 Services 45,833 240,376 332,289 (10,005) 464,770 221 3,156 1,076,640 Total Ps. 176,447,840 372,577,004 332,289 74,112,073 91,418,996 221 4,889,101 719,777,524 Timing of revenue recognition 2023 Products transferred at a point in time Ps. 110,946,624 225,728,523 938,914 43,120,554 73,435,364 — 6,308,660 460,478,639 Products and services transferred over the time 6,419 (46,838,663) — (222) 502,541 225 7,917 (46,321,783) Total Ps. 110,953,043 178,889,860 938,914 43,120,332 73,937,905 225 6,316,577 414,156,856 2022 Products transferred at a point in time Ps. 176,402,007 354,144,854 332,289 74,122,078 90,954,226 — 4,885,944 700,841,398 Products and services transferred over the time 45,833 18,432,150 — (10,005) 464,770 221 3,157 18,936,126 Total Ps. 176,447,840 372,577,004 332,289 74,112,073 91,418,996 221 4,889,101 719,777,524 (1) Beginning January 20, 2022 DPRLP information is now included as a separate business segment. (2) For more information on the incentive for automotive fuels see Note 7-D below. Nature, performance obligations and timing of revenue recognition Revenue is measured based on the consideration specified in a contract with a customer. PEMEX recognizes revenue when it transfers control over a good or service to a customer. The following table provides information about the nature and timing of the satisfaction of performance obligations in contracts with customers, including significant payment terms and the related revenue. Products / services Nature, performance obligations Timing of revenue recognition Crude oil sales Export sales of crude oil are based on delivery terms established in contracts or orders. All sales are performed by the Free on Board International commercial term (“FOB” Incoterm). Crude oil sale contracts consider possible customers’ claims due to product quality, volume or delays in boarding, which are estimated in the price of the transaction. For orders that have variations in price, revenue is adjusted on the closing date of each period. The subsequent variations in the fair value at the different reporting dates are recognized according to IFRS 9. The price of the product is determined based on a market components formula and the sale of crude oil. Revenue is recognized at a point in time when control of the crude oil has transferred to the customer, which occurs when the product is delivered at the point of shipping. Invoices are generated at that time and are mostly payable within the deadlines established in contracts or orders. Payments in respect of crude oil sold and delivered shall be made within 30 days after the date of the bill of lading therefor. For international market crude oil sales, revenue is recognized with a provisional price, which undergoes subsequent adjustments until the product has arrived at the port of destination. There may be a period of up to two months in determining the final sale price, such as in the case of sales to some regions. Revenue is measured initially estimating variables such as quality and volume claims, delays in boarding, etc. Sale of petroleum products For all petroleum products, there is only one performance obligation that includes transport and handling services to the point of delivery. The price is determined based on the price at the point of delivery, adding the price of the services rendered (freight, handling of jet fuel, etc.) with the provisions and terms established by the Comisión Reguladora de Energía (Energy Regulatory Commission or “CRE”), where applicable. Revenue is recognized at a point in time when control is transferred to the customer, which occurs either at the point of shipping or when it is delivered at the customer’s facilities. Therefore, transportation fees can be included in the price of sale of the product and are considered part of a single performance obligation since transportation is rendered before control is transferred. Revenue is initially measured by estimating variables such as quality and volume claims, etc. Invoices are usually payable within 30 days. Sales of natural gas There is only one performance obligation that includes transport and handling services to the point of delivery. The transaction price is established at the time of sale, including the estimation of variable considerations such as capacity, penalties, adjustments for quality or volume claims, and incentives for the purchase of products; which are known days after the transaction. Such variable consideration is recognized to the extent that it is probable that it will not be reversed in a future period. Revenue is recognized at a point in time when control is transferred to the customer, which occurs when it is delivered at the customer’s facilities. Therefore, transportation fees can be included in the price of sale of the product and are considered part of a single performance obligation since transportation is rendered before control is transferred. Revenue initially is measured estimating variables as quality and volume claims, etc. Invoices are usually payable within 30 days. Services In cases where within the same service order there are transportation and storage services, there could exist more than one performance obligation, depending on the term of the service. When there is a performance obligation, the price is not distributed, but if it is considered that there is more than one performance obligation, the price of the transaction is considered based on the prices established in the service orders and which also include penalties such as quality and volume claims. Income is recognized over time as the service is rendered. Invoices are usually payable within 22 days. Other products There is only one performance obligation that includes transportation for delivery to destination. The sale and delivery of the product are made at the same time and because they are FOB, transportation fees are included in the price of sale of the product. The transaction price is established at the time of sale, including the estimation of variable considerations such as capacity, penalties, extraordinary sales not included in contracts, adjustments for quality or volume claims, and incentives for the purchase of products; which are known days after the transaction. The price of the product is estimated on the date of sale and considers variables such as quality and volume claims, etc. Invoices are usually payable within 30 days. B. Accounts receivable in the statement of financial position As of June 30, 2023 and December 31, 2022, PEMEX had accounts receivable derived from customer contracts in the amounts of Ps. 113,476,185 and Ps. 107,117,145, respectively (see Note 10). C. Practical expedients i. Significant financial component, less than one year PEMEX does not need to adjust the amount committed in consideration for goods and services to account for the effects of a significant financing component, since the transfer and the time of payment of a good or service committed to the customer is less than one year. ii. Practical expedient PEMEX applied the practical expedient, so disclosure about remaining performance obligations that conclude in less than one year is not needed. When PEMEX is entitled to consideration for an amount that directly corresponds to the value of the performance that PEMEX has completed, it may recognize an income from ordinary activities for the amount to which it has the right to invoice. D . The Automotive Incentive On March 4, 2022, the Mexican Government published a decree in the Official Gazette of the Federation establishing a tax incentive pursuant to which PEMEX can recover the difference between the international reference price of gasoline and the price at which the gasoline is traded in the domestic market, effective until December 31, 2024. For the six-month periods ended June 30, 2023 and 2022, this complementary incentive amounted Ps. 19,163 and Ps. 75,055,185, respectively, which is included as a separate line item in total sales in the Statement of Comprehensive Income (Loss). |
Financial Instruments
Financial Instruments | 6 Months Ended |
Jun. 30, 2023 | |
Disclosure of detailed information about financial instruments [abstract] | |
Financial Instruments | FINANCIAL INSTRUMENTS A. Accounting classifications and fair values of financial instruments- The following tables present information about PEMEX’s carrying amounts and fair values of financial assets and financial liabilities, including their levels in the fair value hierarchy, as of June 30, 2023, and December 31, 2022. It does not include fair value information for financial assets and financial liabilities not measured at fair value if the carrying amount is a reasonable approximation of fair value. Additionally, as of June 30, 2023, and December 31, 2022, the disclosure of the fair value for the lease obligations is not required. Carrying amount Fair value hierarchy As of June 30, 2023 FVTPL FVOCI – FVOCI – Financial Other financial Total carrying Level 1 Level 2 Level 3 Total Financial assets measured at fair value Derivative financial instruments 12,556,462 — — — — 12,556,462 — 12,556,462 — 12,556,462 Equity instruments (1) — — 355,252 — — 355,252 — 355,252 — 355,252 Total 12,556,462 — 355,252 — — 12,911,714 Financial assets not measured at fair value Cash and cash equivalents — — — 64,115,200 — 64,115,200 — — — — Customers — — — 113,476,185 — 113,476,185 — — — — Officials and employees — — — 5,179,999 — 5,179,999 — — — — Sundry debtors — — — 50,141,443 — 50,141,443 — — — — Investments in joint ventures and associates — — — 1,787,482 — 1,787,482 — — — — Notes receivable — — — 1,372,338 — 1,372,338 — — — — Mexican Government Bonds — — — 82,098,172 — 82,098,172 80,144,423 — — 80,144,423 Other assets — — — 4,162,711 — 4,162,711 — — — — Total — — — 322,333,530 — 322,333,530 Financial liabilities measured at fair value Derivative financial instruments (31,231,609) — — — — (31,231,609) — (31,231,609) — (31,231,609) Total (31,231,609) — — — — (31,231,609) Financial liabilities not measured at fair value Suppliers — — — — (231,157,760) (231,157,760) — — — — Accounts and accrued expenses payable — — — — (90,734,407) (90,734,407) — — — — Leases — — — — (45,215,204) (45,215,204) — — — — Debt — — — — (1,886,616,956) (1,886,616,956) — (1,621,807,044) — (1,621,807,044) Total — — — — (2,253,724,327) (2,253,724,327) (1) Refers to the participation in TAG Pipelines Sur, S. de R.L. de C.V. Carrying amount Fair value hierarchy As of December 31, 2022 FVTPL FVOCI – FVOCI – Financial Other financial Total carrying Level 1 Level 2 Level 3 Total Financial assets measured at fair value Derivative financial instruments 12,755,568 — — — — 12,755,568 — 12,755,568 — 12,755,568 Equity instruments (1) — — 370,317 — — 370,317 — 370,317 — 370,317 Total 12,755,568 — 370,317 — — 13,125,885 Financial assets not measured at fair value Cash and cash equivalents — — — 64,414,511 — 64,414,511 — — — — Customers — — — 107,117,145 — 107,117,145 — — — — Officials and employees — — — 4,965,645 — 4,965,645 — — — — Sundry debtors — — — 40,074,758 — 40,074,758 — — — — Investments in joint ventures and associates — — — 2,043,966 — 2,043,966 — — — — Notes receivable — — — 1,334,126 — 1,334,126 — — — — Mexican Government Bonds — — — 110,179,517 — 110,179,517 108,062,414 — — 108,062,414 Other assets — — — 4,602,021 — 4,602,021 — — — — Total — — — 334,731,689 — 334,731,689 Financial liabilities measured at fair value Derivative financial instruments (22,242,056) — — — — (22,242,056) — (22,242,056) — (22,242,056) Total (22,242,056) — — — — (22,242,056) Financial liabilities not measured at fair value Suppliers — — — — (282,245,250) (282,245,250) — — — — Accounts and accrued expenses payable — — — — (81,808,426) (81,808,426) — — — — Leases — — — — (51,131,575) (51,131,575) — — — — Debt — — — — (2,091,463,996) (2,091,463,996) — (1,853,421,785) — (1,853,421,785) Total — — — — (2,506,649,247) (2,506,649,247) (1) Refers to the participation in TAG Pipelines Sur, S. de R.L. de C.V. Debt is recognized at amortized cost and the fair value of debt is estimated using quotes from major market sources which are then adjusted internally using standard market pricing models. As a result of relevant assumptions, the estimated fair value does not necessarily represent the actual terms at which existing transactions could be liquidated or unwound. B. Fair value hierarchy PEMEX values the fair value of its financial instruments under standard methodologies commonly applied in the financial markets. PEMEX’s related assumptions and inputs therefore fall under the three Levels of the fair value hierarchy for market participant assumptions, as described below. The fair values determined by Level 1 inputs utilize quoted prices in active markets for identical assets or liabilities. Fair values determined by Level 2 inputs are based on quoted prices for similar assets or liabilities in active markets, and inputs other than quoted prices that are observed for assets or liabilities. Level 3 inputs are unobservable inputs for the assets or liabilities, and include situations where there is little, if any, market activity for the assets or liabilities. Management uses appropriate valuation techniques based on the available inputs to measure the fair values of PEMEX’s applicable financial assets and liabilities. When available, PEMEX measures fair value using Level 1 inputs, because they generally provide the most reliable evidence of fair value. C. Fair value of DFIs PEMEX periodically evaluates its exposure to international hydrocarbon prices, interest rates and foreign currencies and uses DFIs as a mitigation mechanism when potential sources of market risk are identified. PEMEX monitors the fair value of its DFI portfolio on a periodic basis. The fair value represents the price at which one party would assume the rights and obligations of the other and is calculated for DFIs through models commonly used in the international financial markets based on inputs obtained from major market information systems and price providers. Therefore, PEMEX does not have an independent third party to value its DFIs. PEMEX calculates the fair value of its DFIs through the tools developed by its market information providers such as Bloomberg, and through valuation models implemented in software packages used to integrate all of PEMEX’s business areas and accounting, such as SAP (System Applications Products). PEMEX’s DFI portfolio is composed primarily of swaps, for which fair value is estimated by projecting future cash flows and discounting them with the corresponding discount factor; for currency and interest rate options, this is done through the Black Scholes Model, and for crude oil options, through the Levy Model for Asian options. According to IFRS 13 “Fair Value Measurement”, the mark-to-market value of DFIs must reflect the creditworthiness of the parties. Consequently, the fair value of a DFI takes into account the risk that either party may default on its obligation. Due to the above, PEMEX applies the credit value adjustment (“CVA”) method to calculate the fair value of its DFIs. Because PEMEX’s hedges are cash flow hedges, their effectiveness is preserved regardless of the variations in the underlying assets or reference variables, thus asset flows are fully offset by liabilities flows. Therefore, it is not necessary to measure or monitor the hedges’ effectiveness. PEMEX’s DFIs’ fair-value assumptions and inputs fall under Level 2 of the fair value hierarchy for market participant assumptions. D. Accounting treatment applied and impact in the financial statements PEMEX enters into derivatives transactions with the sole purpose of hedging financial risks related to its operations, firm commitments, planned transactions and assets and liabilities recorded on its statement of financial position. Nonetheless, some of these transactions do not qualify for hedge accounting treatment because they do not meet the requirements of the accounting standards for designation as hedges. They are therefore recorded in the financial statements as instruments entered into for trading purposes, despite the fact that their cash flows are offset by the cash flows of the positions (assets or liabilities) to which they relate. As a result, the changes in their fair value are recognized in the “Derivative financial instruments income (cost), net” line item in the consolidated statement of comprehensive income. As of June 30, 2023, and December 31, 2022, the net fair value of PEMEX’s DFIs (including both DFIs that have not reached maturity and those that have reached maturity but have not been settled), recognized in the consolidated statement of financial position, was Ps. (18,675,147) and Ps. (9,486,488) , respectively. As of June 30, 2023, and December 31, 2022, PEMEX did not have any DFIs designated as hedges for accounting purposes. All of PEMEX’s DFIs are treated, for accounting purposes, as instruments entered into for trading purposes, therefore any change in their fair value, caused by any act or event, impacts directly in the “Derivative financial instruments income (cost), net” line item in the consolidated statement of comprehensive income (loss). For the six-month periods ended June 30, 2023 and 2022, PEMEX recognized a net gain (loss) of Ps. 2,788,339 and Ps. (24,509,153), respectively, in the “Derivative financial instruments income (cost), net” line item with respect to DFIs treated as instruments entered into for trading purposes. In accordance with established accounting policies, PEMEX has analyzed the different contracts that PEMEX has entered into and has determined that according to the terms thereof none of these agreements meet the criteria to be classified as embedded derivatives. Accordingly, as of June 30, 2023, and December 31, 2022, PEMEX did not recognize any embedded derivatives (foreign currency or index). E. IBOR reference rates transition As a result of the decision made by the Financial Stability Board (FSB), the Interbank Offered Rates (IBORs), such as the LIBOR in dollars (over-night “O/N”, one week “1W”, two months “2M”, and twelve months “12M”) or the EURIBOR in Euros, were scheduled to be replaced by alternative reference rates based on risk-free rates (RFR) obtained from market operations. The discontinuation of the publication of these rates was originally scheduled for December 2021. Nevertheless, on November 2020, the ICE Benchmark Administration Limited (known as “ICE”) announced an extension until June 2023 for the publication of the most common LIBOR rates in dollars (over-night “O/N” one month “1M”, three months “3M”, six months “6M” and twelve months “12M”). PEMEX identified and reviewed contracts expiring after the applicable cessation dates that could be impacted by the change in the aforementioned rates and has carried out all the pertinent negotiations with its counterparties. As of the second quarter of 2023, PEMEX has a reduced number of financial instruments referenced to LIBOR floating rates in U.S. dollars with maturity and interest rate fixation after June 2023. This portfolio of financial instruments is composed of debt instruments as shown below: *Notional Amounts As of June 30, 2023 Reference Rate (in thousands of U.S. dollars) Debt LIBOR 1M USD 450,101 LIBOR 3M USD 206,370 LIBOR 6M USD 701,113 *Note: Notional amounts with maturity after June 30, 2023 It should be noted that Petróleos Mexicanos has a financial instrument denominated in euros with the EURIBOR 3M as a reference rate. Said reference will continue to be published, by agreement of the European financial authorities, so its current contract does not require any amendment. As of the second quarter of 2023, PEMEX has completed the restructuring of the DFIs that were originally referenced to LIBOR rates, leaving only RFR as its reference indexes and is working on all the relevant documentation. Additionally, PEMEX has carried out the necessary adjustments to the financing contracts and continues to monitor the evolution of the IBORs transition in the market to anticipate any negative impact that these changes could have. The cases that had not been finalized at the end of the second quarter of 2023 were being attended and registered a high degree of progress. Given the policy of not entering into new financing operations at floating rates referenced to IBOR, since 2021 and to the second quarter of 2023, PEMEX contracted financing operations in U.S. dollars at floating rates linked to the new RFR rates. Moreover, derived from the transition to the alternative RFR, PEMEX has adopted a policy of not entering into new DFIs referenced to IBOR rates. Furthermore, the discount curves that PEMEX uses to obtain the fair value of its DFIs already include in their construction instruments of the corresponding currency referenced to the new RFR. In the event that TIIE ceases to be published, the portfolio of financial instruments referenced to these floating rates is composed of debt instruments and DFIs as shown below: *Notional Amounts As of June 30, 2023 Reference Rate (in thousands of pesos) Debt TIIE 28D MXN 106,238,606 TIIE 91D MXN 29,060,976 DFI TIIE 28D MXN 32,505,574 *Note: Notional amounts with maturity after June 30, 2023. PEMEX’s portfolio also consists of additional debt instruments and DFIs referenced at fixed rates, which are not listed in the tables above since PEMEX’s fixed rate portfolio will not be impacted by the IBOR transition. Regarding PMI Trading, its credit agreements contained flexible provisions that would help smooth the transition to an alternative rate in the event that LIBOR rates ceased to be published. PMI Trading has finished the amendment process of its credit agreements. This process has enabled PMI Trading to keep using the LIBOR rates until they are ceased to be published and then continue with the new SOFR rates as benchmark rates. |
Cash and Cash Equivalents
Cash and Cash Equivalents | 6 Months Ended |
Jun. 30, 2023 | |
Cash and cash equivalents [abstract] | |
Cash and Cash Equivalents | CASH AND CASH EQUIVALENTS As of June 30, 2023 and December 31, 2022, cash and cash equivalents were as follows: June 30, 2023 December 31, 2022 Cash on hand and in banks (1) Ps. 49,496,171 Ps. 41,316,304 Highly liquid investments (2) 14,619,029 23,098,207 Total of cash and cash equivalents Ps. 64,115,200 Ps. 64,414,511 (1) Cash on hand and in banks is primarily composed of cash in banks. |
Customers and Other Financing a
Customers and Other Financing and Non-Financing Accounts Receivable | 6 Months Ended |
Jun. 30, 2023 | |
Trade and other receivables [abstract] | |
Customers and Other Financing and Non-Financing Accounts Receivable | CUSTOMERS AND OTHER FINANCING AND NON-FINANCING ACCOUNTS RECEIVABLE As of June 30, 2023 and December 31, 2022, accounts receivable and other receivables were as follows: A. Customers June 30, 2023 December 31, 2022 Domestic customers, net Ps. 72,378,073 Ps. 69,979,713 Export customers, net 41,098,112 37,137,432 Total customers, net Ps. 113,476,185 Ps. 107,117,145 B. Other financial and non-financial accounts receivable June 30, 2023 December 31, 2022 Financial assets: Sundry debtors (1) Ps. 50,141,443 Ps. 40,074,758 Employees and officers 5,179,999 4,965,645 Total financial assets Ps. 55,321,442 Ps. 45,040,403 Non-financial assets: Taxes to be recovered and prepaid taxes Ps. 61,733,516 Ps. 44,597,094 Special Tax on Production and Services 22,891,100 75,213,134 Other accounts receivable 5,142,859 2,911,791 Total non-financial assets Ps. 89,767,475 Ps. 122,722,019 |
Inventories
Inventories | 6 Months Ended |
Jun. 30, 2023 | |
Disclosure of inventories [abstract] | |
Inventories | INVENTORIES As of June 30, 2023 and December 31, 2022, inventories were as follows: June 30, 2023 December 31, 2022 Refined and petrochemicals products Ps. 50,929,957 Ps. 60,838,241 Crude oil 32,239,986 32,971,427 Products in transit 22,793,175 25,345,696 Materials and products in stock 6,169,050 6,171,040 Gas and condensate products 241,985 298,029 Materials in transit 27,858 393,964 Total Ps. 112,402,011 Ps. 126,018,397 |
Investments in Joint Ventures a
Investments in Joint Ventures and Associates | 6 Months Ended |
Jun. 30, 2023 | |
Investments in subsidiaries, joint ventures and associates reported in separate financial statements [abstract] | |
Investments in Joint Ventures and Associates | INVESTMENTS IN JOINT VENTURES AND ASSOCIATES A. The investments in joint ventures and associates as of June 30, 2023 and December 31, 2022 were as follows: Percentage June 30, 2023 December 31, 2022 Sierrita Gas Pipeline LLC 35.00% Ps. 845,220 Ps. 1,051,626 Frontera Brownsville, LLC 50.00% 370,391 410,097 Texas Frontera, LLC 50.00% 177,635 185,967 CH 4 Energía, S.A. de C.V. 50.00% 161,658 170,188 Administración Portuaria Integral de Dos Bocas, S. A. de C.V. 40.00% 112,792 91,537 Other, net Various 119,786 134,551 Total Ps. 1,787,482 Ps. 2,043,966 Profit (loss) sharing in joint ventures and associates: Six-month periods ended June 30, 2023 2022 Texas Frontera, LLC 31,239 7,256 Sierrita Gas Pipeline LLC 28,753 81,445 CH4 Energía, S.A. de C.V. 22,970 20,809 Administración Portuaria Integral de Dos Bocas, S.A. de C.V. 21,256 2,201 Frontera Brownsville, LLC 1,623 7,428 Other, net 46,128 42,009 Profit sharing in joint ventures and associates, net Ps. 151,969 Ps. 161,148 Three-month periods ended June 30, 2023 2022 Texas Frontera, LLC 19,351 4,264 CH4 Energía, S.A. de C.V. 11,049 4,344 Frontera Brownsville, LLC 704 4,505 Administración Portuaria Integral de Dos Bocas, S.A. de C.V. (9,042) 19,744 Sierrita Gas Pipeline LLC (778) 48,643 Other, net 20,729 15,642 Profit sharing in joint ventures and associates, net Ps. 42,013 Ps. 97,142 B. Additional information about the significant investments in joint ventures and associates is presented below: Joint venture • Deer Park . On March 31, 1993, PMI NASA acquired 49.995% of the Deer Park Refinery. In its capacity as general partner of DPRLP, Shell was responsible for the operation and management of the Deer Park Refinery (installed capacity of approximately 340,000 barrels per day of crude oil). Management decisions were made jointly with respect to investment in or disposal of assets, distribution of dividends, indebtedness and equity operations. In accordance with the investment contract and the operation of the agreement, the participants had the rights to the net assets in the proportion of their participation. This joint venture was recorded under the equity method. The investment in Deer Park as of December 31, 2021 was Ps. 6,703,324, which represented PMI NASA’s 49.995% interest in Deer Park. Acquisition of the joint venture See accounting policy in Note 3-A(i) (Business combinations) and (v) (Interests in equity-accounted investees) of PEMEX’s annual consolidated financial statements as of and for the year ended December 31, 2022. In this observable transaction the value of the debt was agreed up to U.S.$1,192,000 as the fair value of the 100% of the interest in Deer Park, i.e., U.S.$596,000, equivalent to 50.005% of the interest. On January 20, 2022, PMI SUS acquired the remaining 50.005% of participation and voting interest in Deer Park through a purchase agreement with Shell. Through this operation, PEMEX indirectly acquired control over Deer Park. As a result of the acquisition, this company is now consolidated in PEMEX’s financial statements. Beginning January 20, 2022, DPRLP’s business model changed from a company that obtained revenues from services for processing crude oil to a company that buys and processes crude oil and sells gasolines and distillates. Deer Park is a limited partnership under the laws of Delaware, with operations in Deer Park, Texas. The purpose of the acquisition is to strengthen and increase the refining capacity under PEMEX’s control. PEMEX has begun shipping products to Mexico from the refinery to strengthen the fuels supply. Prior to the acquisition, the participation in Deer Park was recognized as a joint venture. As a result, the participation was recognized in PEMEX’s consolidated financial statements using the equity method. On November 3, 2021, the Board of Directors authorized PEMEX’s capitalization of HHS and HPE up to the amount received from the Fondo Nacional de Infraestructura (National Infrastructure Fund or “FONADIN”) as a non-recoverable contribution to enable HHS and HPE, in turn, to capitalize PMI NASA and PMI SUS. These capitalizations were used to meet financial commitments arising out of the acquisition of Shell’s interest in Deer Park. During January 2022, the amount received and recorded from the FONADIN totaled Ps. 23,000,000 (U.S.$1,127,285). In addition, PEMEX entered into a borrowing of Ps. 8,974,406 (U.S.$436,000) due in one year. In recognition of this transaction, PEMEX is applying the purchase method in accordance with International Financial Reporting Standard (IFRS) 3 “Business Combinations”, accounting for the transaction as a business combination achieved in stages. The acquiree company included in the identifiable assets at the date of acquisition of DPRLP are inputs (mainly Properties, Plant and Equipment and inventories), production processes and workforce. PEMEX has determined that together the acquired inputs and processes significantly contribute to the ability to generate revenue. PEMEX has concluded that the acquired set is a business. Consideration transferred PEMEX’s purchase of control of Deer Park, through the 50.005% interest owned by Shell, included the following: Cash paid to Shell Ps. 8,597,743 U.S.$ 421,396 Payment of debt to third parties 18,289,066 896,391 Payment of DPRLP’s debt to company partners 3,496,054 171,350 Total consideration paid in cash Ps. 30,382,863 U.S.$ 1,489,137 Settlement of pre-existing relationship 6,663,803 326,609 Total consideration paid in cash and settlement of pre-existing relationship Ps. 37,046,666 U.S.$ 1,815,746 The settlement of the pre-existing relationship includes the payment of 100% of PMI NASA’s Partners Loan (Ps. 1,227,383 or U.S.$60,157 with cash and Ps. 5,436,420 or U.S.$266,452 with equity) which Deer Park used for operative purposes, and which consisted of a principal of Ps. 6,630,975 (U.S.$325,000) and interest of Ps. 32,828 (U.S.$1,609). With this settlement, the account receivable registered on PMI NASA’s books was capitalized. As the book value of this item was equal to its fair value and there were no cancellation clauses, no effects were recognized in the profit or loss of the year 2022. Acquisition-related costs Acquisition-related costs for the 50.005% interest in Deer Park totaled Ps. 145,937 (U.S.$7,091) recognized in the administrative expenses line item in the profit or loss for 2022. Identifiable assets acquired and liabilities assumed. The following table summarizes the fair value of the identifiable assets acquired, including the recognized value of the PEMEX interest prior to the purchase. Cash and cash equivalents Ps. 1,597,759 U.S.$ 78,310 Inventories 6,918,473 339,091 Other current assets 131,661 6,453 Total current Assets Ps. 8,647,893 U.S.$ 423,854 Property, Plant and Equipment 29,669,961 1,454,196 Total identifiable net assets acquired Ps. 38,317,854 U.S.$ 1,878,050 PEMEX carried out the valuation of the fair value of the business acquired under the market approach since it has information on an observable transaction between independent parties, is duly informed and is in a free competition market. At the acquisition date, considering the amount of the value of the net assets and the consideration transferred, a gain at a bargain purchase was determined as follows: Total consideration transferred Ps. 37,046,666 U.S.$ 1,815,746 Fair value of the identifiable net assets acquired (38,317,854) (1,878,050) Gain on bargain purchase Ps. (1,271,188) U.S.$ (62,304) There was not any gain or loss in the previously held interest because the book value and the fair value of these items was zero at the acquisition date. The technique used for the measuring of the fair value of the previous held interest was the adjusted book value method. The gain on bargain purchase was recognized in other income line item in the profit or loss of the period. The gain of U.S.$62,304 (Ps. 1,271,188) was due to closing adjustments consisting of Shell’s assumption of DPRLP’s accrued expenses and taxes and the pro-rated cash. From the acquisition date to December 31, 2022, DPRLP contributed Ps. 238,940,945 to PEMEX’s total revenues and Ps. 20,905,292, to PEMEX’s total income for the period. As of December 31, 2022, PEMEX recognized Ps. (10,383,296) of currency translation effects from the investment in DPRLP into other income, as a result of derecognizing the equity method. Associates • Sierrita Gas Pipeline LLC. This company was created on June 24, 2013. Its main activity is the developing of projects related to the transportation infrastructure of gas in the United States. This investment is recorded under the equity method. • Frontera Brownsville, LLC . Effective April 1, 2011, PMI SUS entered into a joint venture with TransMontaigne Operating Company L.P (TransMontaigne) to create Frontera Brownsville, LLC. Frontera Brownsville, LLC was incorporated in Delaware, United States, and has the corporate power to own and operate certain facilities for the storage and treatment of clean petroleum products. This investment is recorded under the equity method. • Texas Frontera, LLC . This company was constituted on July 27, 2010, and its principal activity is the lease of tanks for the storage of refined product. PMI SUS, which owns 50% interest in Texas Frontera, entered into a joint venture with Magellan OLP, L.P. (Magellan), and together they are entitled to the results in proportion of their respective investment. The company has seven tanks with a capacity of 120,000 barrels per tank. This joint venture is recorded under the equity method. • CH4 Energía, S.A. de C.V. This company was constituted on December 21, 2000. CH4 Energía engages in the purchase and sale of natural gas and in activities related to the trading of natural gas, such as transport and distribution in Valle de Toluca, México. This joint venture is recorded under the equity method. • Administración Portuaria Integral de Dos Bocas, S.A. de C.V. |
Wells, Pipelines, Properties, P
Wells, Pipelines, Properties, Plant and Equipment, Net | 6 Months Ended |
Jun. 30, 2023 | |
Disclosure of detailed information about property, plant and equipment [abstract] | |
Wells, Pipelines, Properties, Plant and Equipment, Net | WELLS, PIPELINES, PROPERTIES, PLANT AND EQUIPMENT, NET As of June 30, 2023 and December 31, 2022, wells, pipelines, properties, plant and equipment, net, is presented as follows: Plants Drilling Pipelines Wells Buildings Offshore Furniture and Transportation Construction in progress (1) Land Total fixed assets Investment Balances as of January 1, 2022 951,486,189 13,548,596 495,475,879 1,487,962,570 70,711,580 415,885,213 49,310,555 28,534,437 253,435,510 44,765,993 3,811,116,522 Acquisitions (2) 24,924,550 311,390 1,618,940 10,336,630 2,090,630 907,100 5,238,190 (3,064,920) 101,595,260 56,160 144,013,930 Reclassifications (190) — (71,210) — (530) — (76,130) (4,040) — — (152,100) Capitalization 8,340,710 — 4,044,640 30,885,250 746,020 662,340 590,880 — (45,680,130) 410,280 (10) Disposals (1,204,880) — (85,130) — (360) — (245,840) (650,280) (732,720) — (2,919,210) Translation effect (2,836,830) — (50,260) — (275,160) — (235,640) (132,920) (3,407,970) (70,850) (7,009,630) Balances as of June 30, 2022 Ps. 980,709,549 13,859,986 500,932,859 1,529,184,450 73,272,180 417,454,653 54,582,015 24,682,277 305,209,950 45,161,583 3,945,049,502 Balances as of January 1, 2023 1,053,836,879 14,840,995 493,683,632 1,586,407,714 73,865,712 420,363,210 50,809,657 29,297,417 374,025,584 53,125,295 4,150,256,095 Acquisitions 7,406,760 2,130,670 651,070 14,987,680 6,740 773,510 839,640 2,162,760 97,051,190 140,930 126,150,950 Reclassifications 412,300 — 103,360 2,967,760 (176,590) — 39,610 (60) (124,960) — 3,221,420 Capitalization 6,420,470 — 6,050,860 46,219,390 246,960 4,491,700 456,050 38,040 (63,923,470) — — Disposals (619,260) (511,310) (130,210) (1,094,130) (49,390) — (371,460) (13,330) (2,310,810) (600) (5,100,500) Translation effect (16,417,790) — (195,880) — (1,222,840) — (83,550) (522,430) (28,659,120) (304,280) (47,405,890) Balances as of June 30, 2023 Ps. 1,051,039,359 16,460,355 500,162,832 1,649,488,414 72,670,592 425,628,420 51,689,947 30,962,397 376,058,414 52,961,345 4,227,122,075 Plants Drilling Pipelines Wells Buildings Offshore Furniture and Transportation Construction in progress (1) Land Total fixed assets Accumulated depreciation and amortization Balances as of January 1, 2022 (682,489,735) (6,281,568) (236,437,335) (1,182,871,028) (45,856,045) (264,074,556) (44,695,207) (15,059,962) (58,818,479) — (2,536,583,915) Depreciation and amortization (19,569,930) (213,980) (7,707,800) (31,834,810) (934,610) (7,443,710) (1,388,530) (320,623) — — (69,413,993) Reclassifications 90 — — 71,670 530 — 75,760 4,050 — — 152,100 (Impairment) (18,573,240) — (1,321,170) (4,974,170) — — — — (109,370) — (24,977,950) Reversal of impairment 57,865,740 — 3,976,210 14,999,070 — 10,765,280 — — 1,499,760 — 89,106,060 Disposals 334,530 — 48,220 — 360 — 231,470 290,019 — — 904,599 Translation effect 1,720,180 — 23,470 — 136,790 — 198,590 5,970 — — 2,085,000 Balances as of June 30, 2022 Ps. (660,712,365) (6,495,548) (241,418,405) (1,204,609,268) (46,652,975) (260,752,986) (45,577,917) (15,080,546) (57,428,089) — (2,538,728,099) Balances as of January 1, 2023 (789,443,853) (6,593,644) (264,441,515) (1,260,106,083) (47,796,496) (294,192,090) (45,932,403) (15,664,032) (57,335,129) — (2,781,505,245) Depreciation and amortization (16,425,970) (403,660) (6,395,380) (25,684,940) (956,350) (5,500,690) (728,730) (695,458) — — (56,791,178) Reclassifications (405,220) — (103,360) (2,989,670) 309,120 — (32,350) 60 — — (3,221,420) (Impairment) (17,687,630) — (5,426,790) (32,382,700) — (25,066,390) — — (368,181) — (80,931,691) Reversal of impairment 9,514,200 — 329,110 532,450 — — — — 4,471,440 — 14,847,200 Disposals 222,630 219,120 109,680 740,570 — — 349,170 4,384 — — 1,645,554 Translation effect 9,325,760 — 180,200 — 610,030 — 50,820 87,700 — — 10,254,510 Balances as of June 30, 2023 Ps. (804,900,083) (6,778,184) (275,748,055) (1,319,890,373) (47,833,696) (324,759,170) (46,293,493) (16,267,346) (53,231,870) — (2,895,702,270) Wells, pipelines, properties, plant and equipment—net as of June 30, 2022 Ps. 319,997,184 7,364,438 259,514,454 324,575,182 26,619,205 156,701,667 9,004,098 9,601,731 247,781,861 45,161,583 1,406,321,403 Wells, pipelines, properties, plant and equipment—net as of June 30, 2023 Ps. 246,139,276 9,682,171 224,414,777 329,598,041 24,836,896 100,869,250 5,396,454 14,695,051 322,826,544 52,961,345 1,331,419,805 Depreciation rates 3 to 5% 5 % 2 to7% — 3 to 7% 4 % 3 to 10% 4 to 20% — — — Estimated useful lives 20 to 35 20 15 to 45 — 33 to 35 25 3 to 10 5 to 25 — — — (1) Mainly wells, pipelines and plants. (2) On January 20, 2022, PEMEX acquired assets with a cost of Ps. 29,669,961, consisting mainly of plants. This amount includes assets acquired through a business combination (see Note 12). A. For the six-month periods ended June 30, 2023 and 2022, the financing cost identified with fixed assets in the construction or installation stage, capitalized as part of the value of such fixed assets, was Ps. 2,389,748 and Ps. 1,674,380, respectively. Financing cost rates during the six-month periods ended June 30, 2023 and 2022 were 6.47% to 7.54% and 5.40% to 6.48%, respectively. B. The combined depreciation of fixed assets and amortization of wells for the six-month periods ended June 30, 2023 and 2022, recognized in operating costs and expenses, was Ps. 56,791,178 and Ps. 69,413,993, respectively. These figures include costs related to plugging and abandonment of wells for the six-month periods ended June 30, 2023 and 2022 of Ps. 30,330 and Ps. 35,914, respectively. C. As of June 30, 2023 and December 31, 2022, provisions relating to future plugging of wells costs amounted to Ps. 60,915,126 and Ps. 66,699,388, respectively, and are presented in the “Provisions for plugging of wells” (see Note 17). D. For the six-month periods ended June 30, 2023 and 2022, the translation effect of property, plant and equipment items from a different currency than the presentation currency was Ps. (37,151,380) and Ps. (4,924,630), respectively, which was mainly plant. E. During the six-month periods ended June 30, 2023 and 2022, PEMEX recognized a net (impairment) and a net reversal of impairment of Ps. (66,084,491) and Ps. 64,128,110, respectively, which is presented as a separate line item in the consolidated statement of comprehensive income (loss) as follows: 2023 2022 (Impairment) / Reversal of Pemex Exploration and Production (59,536,095) 21,547,474 Pemex Industrial Transformation (6,548,396) 40,823,408 Pemex Logistics — 1,474,790 MGAS — 282,438 (Impairment) reversal of impairment, net (66,084,491) 64,128,110 Cash-Generating Unit of Pemex Exploration and Production During the six-month periods ended June 30, 2023 and 2022, Pemex Exploration and Production recognized a net impairment and net reversal of impairment of Ps. (59,536,095) and Ps. 21,547,474, respectively, shown by GCUs as follows: 2023 2022 Chuc (19,216,570) — Crudo Ligero Marino (7,863,676) — Aceite Terciario del Golfo (6,634,837) — Ogarrio Magallanes (6,448,126) (7,928,033) Burgos (5,995,860) 9,124,073 Tsimin Xux (5,224,009) 723,354 Ixtal - Manik (4,837,174) — Cantarell (2,851,694) 11,363,472 Antonio J. Bermúdez (1,139,810) 6,252,924 Poza Rica (751,664) — Tamaulipas Constituciones (742,705) 1,603,470 Arenque (528,440) — Misión (CEE) (28,177) 234,658 Santuario El Golpe (112,355) — Cuenca de Macuspana (70,075) 225,477 Lakach 2,905,272 (84,404) Cárdenas Mora (CEE) 3,805 — Ébano (CEE) — 32,483 Total Ps. (59,536,095) 21,547,474 As of June 30, 2023, Pemex Exploration and Production recognized a net impairment of Ps. (59,536,095) mainly due to: (i) a decrease in production profiles volume in the barrel of crude oil equivalent generating a negative effect of Ps. 83,067,440, mainly in the Chuc, Crudo Ligero Marino, Tsimin Xux and Ixtal-Manik CGUs; (ii) the negative effect due to an exchange rate of Ps. 31,854,861, from Ps. 19.4143 = U.S.$1.00 as of December 31, 2022, to Ps. 17.0720 = U.S.$1.00 as of June 30, 2023 and (iii) an increase in the discount rate of Ps. 13,119,343, from 9.31% in December 31, 2022 to 10.42% in June 30, 2023, due to the increase in the debt component in the Weighted Average Cost of Capital (“WAAC”) derived from the rise in global interest rates, which impacted PEMEX's benchmark rates that oil and gas industry uses to determine these discount rates. These effects were partially offset by (i) an increase in crude oil prices, generating a positive effect of Ps. 42,858,913; (ii) a positive tax effect of Ps. 23,439,232, due to the decrease in production profiles volume in the barrel of crude oil equivalent and (iii) a positive effect of Ps. 2,207,404 due to lower freight and distribution costs. As of June 30, 2022, Pemex Exploration and Production recognized a net reversal of impairment of Ps. 21,547,474, mainly due to an increase in crude oil prices, generating a positive effect of Ps. 123,125,874, mainly in the Cantarell, Burgos and Antonio J. Bermúdez CGUs. These effects were partially offset by (i) a decrease in production volume of crude oil and higher transportation and distribution costs, resulting in a negative effect of Ps. 63,545,318; (ii) a lower exchange rate gain of Ps. 5,781,853, from a peso/U.S. dollar exchange rate of Ps. 20.5835 = U.S.$1.00 as of December 31, 2021 to Ps. 19.9847 = U.S. $1.00 as of June 30, 2022; (iii) a negative effect of Ps. 25,052,959, due to an increase in the discount rate from 5.68% to 7.41%; and (iv) a negative tax effect of Ps. 7,198,269, due to higher income as a result of an increase in hydrocarbon prices. The CGUs of Pemex Exploration and Production are investment projects in productive fields with hydrocarbon reserves associated with proved reserves. These productive hydrocarbon fields contain varying degrees of heating power consisting of a set of wells and are supported by fixed assets associated directly with production, such as pipelines, production facilities, offshore platforms, specialized equipment and machinery. Each project represents the smallest unit which can concentrate the core revenues, with clear costs and expenses that enable future cash flows (value in use) to be determined. Pemex Exploration and Production determines the recoverable amount of fixed assets based on the long-term estimated prices for Pemex Exploration and Production’s proved reserves. The recoverable amount on each asset is the value in use. To determine the value in use of long-lived assets associated to hydrocarbon extraction, the net present value of reserves is determined based on the following assumptions: As of June 30, 2023 2022 Average crude oil price 61.72 U.S.$/bl 60.99 U.S.$/bl Average gas price 4.96 U.S.$/mpc 5.09 U.S.$/mpc Average condensates price 67.57 U.S.$/bl 68.27 U.S.$/bl After-tax discount rate 10.42% annual 7.41% annual For the six-month periods ended June 30, 2023 and 2022 the total forecast production, calculated with a horizon of 25 years, was 6,685 billion barrels per day (Bbd) and 6,955 Bbd per day of crude oil equivalent, respectively. Pemex Exploration and Production, in compliance with practices observed in the industry, estimates the recovery value of an asset by determining its value in use, based on cash flows associated with proved reserves after taxes and using a discount rate, also after taxes. Cash flows related to plugging wells provision costs are excluded in this computation of discounted cash flows. As of June 30, 2023 and 2022, values in use for CGU with impairment or reversal of impairment are: 2023 2022 Aceite Terciario del Golfo Ps. 37,276,319 84,116,214 Chuc 36,565,512 83,989,635 Tsimin Xux 27,851,730 29,258,331 Ogarrio Magallanes 24,027,128 18,112,667 Crudo Ligero Marino 17,206,881 33,269,762 Antonio J. Bermúdez 8,654,361 23,181,387 Burgos 7,399,377 13,200,629 Ixtal - Manik 6,472,463 20,986,390 Poza Rica 5,500,551 — Arenque 4,084,877 6,674,267 Lakach 3,328,644 — Tamaulipas Constituciones 1,931,129 7,233,388 Ku-Maloob-Zaap — 724,768,145 Cuenca de Veracruz — 142,657,247 Cactus Sitio Grande — 38,229,203 Cuenca de Macuspana (83,935) 874,044 Misión (CEE) (716,358) — Cárdenas Mora (2,148,930) — Santuario El Golpe (2,412,398) — Cantarell (11,456,751) 63,391,663 Total Ps. 163,480,600 1,289,942,972 Cash-Generating Units of Pemex Industrial Transformation As of June 30, 2023, and 2022, Pemex Industrial Transformation recognized a net impairment and net reversal of impairment of Ps. (6,548,396) and Ps. 40,823,408, respectively, shown by CGU as follows: 2023 2022 Madero Refinery (10,210,354) 14,750,919 Minatitlán Refinery (4,558,203) 32,560,935 Cosoleacaque Petrochemical Complex (1,301,741) (1,090,260) Burgos Gas Processor Complex (808,931) — Matapionche Gas Processor Complex (156,642) — Arenque Gas Processor Complex (104,647) — Tula Refinery — 9,830,444 Pajaritos Petrochemical Complex — 31,633 Nuevo Poza Rica Gas Processor Complex — (2,294,830) Poza Rica Gas Processor Complex 28,342 — Cangrejera Petrochemical Complex 524,059 (5,443,028) Nuevo Pemex Gas Processor Complex 1,080,820 — Morelos Petrochemical Complex 3,208,249 (7,522,405) Salamanca Refinery 5,750,652 — Total Ps. (6,548,396) 40,823,408 As of June 30, 2023, the net impairment of Ps. (6,548,396) was due to a negative effect due to an exchange rate of Ps. 19.4143 = U.S.$1.00 as of December 31, 2022 to Ps. 17.0720 = U.S. $1.00 as of June 30, 2023. These effects were partially offset by (i) an improvement in production levels as a result of application of rehabilitation program and (ii) a slight decrease in the discount rate of CGUs of refined products by 14.16% as of December 31, 2022 to 14.10% as of June 30, 2023. As of June 30, 2022, the net reversal of impairment of Ps. 40,823,408 was mainly the result of a 26.8% increase in refining sales price. These effects were partially offset by (i) an increase in the discount rate of CGUs of refined products by 12.1% and a decrease in the discount rate of ethylene products by 2.2%; and (ii) a decrease in the exchange rate of the peso against the U.S. dollar, from a peso/U.S. dollar exchange rate of Ps. 20.5835 = U.S.$1.00 as of December 31, 2021, to Ps. 19.9847 = U.S.$1.00 as of June 30, 2022, which are used as cash flows when U.S. dollars are taken as reference. To determine the value in use of long-lived assets associated with the CGUs of Pemex Industrial Transformation, the net present value of cash flows was determined based on the following assumptions: As of June 30, 2023 2022 2023 2022 2023 2022 2023 2022 2023 2022 Refining Gas Petrochemicals Ethylene Fertilizers Average crude oil Price (U.S.$) 75.2 100.15 N.A. N.A. N.A. N.A Processed volume (1) 903 mbd 889 mbd 2,575 2,148 Variable because the load inputs are diverse Rate of U.S.$ $17.0720 $19.9847 $17.0720 $19.9847 $17.0720 19.9847 $17.0720 19.9847 $17.0720 $19.9847 Useful lives of the cash-generating units (year average) 11 12 6 7 5 5 5 5 5 5 Pre-tax discount rate 14.10% 10.59% 13.26% 10.62% 10.46% 8.82% 10.46% 8.82% 13.05% 10.49% Period (2) 2023 - 2033 2023 - 2028 2023 - 2027 2023 - 2027 2023 - 2027 (1) Average of the first four years. (2) The first five years are projected and stabilize at year six. N.A. = Not applicable CGUs in Pemex Industrial Transformation are processing centers grouped according to their types of processes as refineries, gas complex processors, and petrochemical centers. These centers produce various finished products for direct sale to customers or intermediate products that can be processed in another of its CGUs or by a third party. Each processing center of Pemex Industrial Transformation represents the smallest unit that has distinguishable revenues, with clear costs and expenses that enable future cash flows (value in use) to be determined. Cash flow determinations are made based on PEMEX’s business plans, operating financial programs, forecasts of future prices of products related to the processes of the CGUs, budget programs and various statistical models that consider historical information of processes and the capacity of various processing centers. The recoverable amount of assets is based on each asset’s value in use. The value in use for each asset is calculated based on discounted cash flows, taking into consideration the volumes to be produced and sales to be carried out. As of June 30, 2023 and 2022, the value in use for the impairment of fixed assets was as follows: 2023 2022 Tula Refinery Ps. 55,664,585 73,772,599 Salina Cruz Refinery 44,338,748 80,118,065 Salamanca Refinery 28,617,019 — Nuevo Pemex Gas Processor Complex 27,965,299 — Morelos Petrochemicals Complex 2,969,979 — Burgos Gas Processor Complex 965,475 — Cosoleacaque Petrochemicals Complex 858,643 — Madero Refinery 730,425 17,085,340 Minatitlán Refinery (3,168,068) 53,497,755 Poza Rica Gas Processor Complex (2,038,230) 1,504,232 Total Ps. 156,903,875 225,977,991 |
Intangible Assets, Net
Intangible Assets, Net | 6 Months Ended |
Jun. 30, 2023 | |
Disclosure of detailed information about intangible assets [abstract] | |
Intangible Assets, Net | INTANGIBLE ASSETS, NET As of June 30, 2023 and December 31, 2022, intangible assets, net were mainly wells unassigned to a reserve and other components of intangible assets, which amounted to Ps. 22,622,380 and Ps. 30,024,934, respectively. A. Wells unassigned to a reserve As of June 30, 2023 2022 Wells unassigned to a reserve: Balance at the beginning of the year Ps. 28,388,655 18,639,136 Additions to construction in progress 18,994,442 13,421,438 Transfers against expenses (15,667,953) (4,539,894) Transfers against fixed assets (10,669,293) (3,513,868) Balance at the end of the period Ps. 21,045,851 24,006,812 As of June 30, 2023 and 2022, PEMEX recognized expenses related to unsuccessful wells of Ps. 17,105,924 and Ps. 11,256,526, respectively, directly in its statement of comprehensive income (loss). B. Other intangible assets Other intangible assets are mainly licenses, exploration expenses, evaluation of assets and concessions. As of June 30, 2023 2022 Balance at the beginning of the year Ps. 1,636,280 1,377,010 Additions 297,387 1,774,478 Effects of foreign exchange (161,042) 19,659 Amortization (196,096) (129,615) Balance at the end of the period Ps. 1,576,529 3,041,532 |
Government Bonds, Long-Term Not
Government Bonds, Long-Term Notes Receivable And Other Assets | 6 Months Ended |
Jun. 30, 2023 | |
Disclosure Of Notes Receivable Government Bonds And Other Long Term Assets [Abstract] | |
Government Bonds, Long-Term Notes Receivable And Other Assets | GOVERNMENT BONDS, LONG-TERM NOTES RECEIVABLE AND OTHER ASSETS A. Government bonds As of June 30, 2023 and December 31, 2022, the balance of Government Bonds valued at amortized cost was as follows: 2023 2022 Government Bonds (1) Ps. 82,098,172 Ps. 110,179,517 Less: current portion of Government Bonds, net of expected credit losses 29,229,148 46,526,257 Total long-term of Government bonds Ps. 52,869,024 Ps. 63,653,260 (1) As of June 30, 2023 and December 31, 2022, includes an expected credit loss of Ps. 9,717 for both periods. As of November 19, 2020, the value of the Government Bonds was Ps. 128,786,611, and the liability was Ps. 95,597,610. On November 20, 2020, Petróleos Mexicanos monetized the whole of the Government Bonds by entering into a three-year financial arrangement to partially raise an equivalent of Ps. 95,597,610 at an annual rate of 8.56275%, maturing November 24, 2023. Petróleos Mexicanos retains the risks, benefits and economic rights of the Government Bonds, which were delivered to a financial institution. Petróleos Mexicanos will continue to collect coupon and principal payments from the securities throughout the term of the transaction. Therefore, Petróleos Mexicanos recognizes these Government Bonds as restricted assets and recognizes short-term debt for the monetization. The resources from the Government Bonds were transferred to the FOLAPE for payments related to its pension and retirement plan obligations. During the period from January 1 to June 30, 2023, interest income generated by the Government Bonds amounted to Ps. 3,985,217, of which Petróleos Mexicanos received payments in the amount of Ps. 4,547,770. During the period from January 1 to June 30, 2022, interest income generated by the Government Bonds amounted to Ps. 3,457,960, of which Petróleos Mexicanos received payments in the amount of Ps. 3,411,432. As of June 30, 2023 and December 31, 2022 the Government Bonds consist of 16 and 17 series of development bonds (D Bonds, M Bonds and UDI Bonds) issued by the Secretaría de Hacienda y Crédito Público (Ministry of Finance and Public Credit or “SHCP”) with maturities between 2023 and 2026, at nominal values of Ps. 74,590,611, Ps. 913,482 in UDIs and Ps. 102,492,032, Ps. 913,482 in UDIs, respectively. As of June 30, 2023 and December 31, 2022, the fair value of the transferred assets was Ps. 80,144,423 and Ps. 108,062,414, respectively and the fair value of the associated liabilities was Ps. 60,005,770 and Ps. 82,372,990, respectively, resulting in a net position of Ps. 20,138,653 and Ps. 25,689,424, respectively. As of June 30, 2023 and December 31, 2022, the recorded liability was Ps. 76,360,199 (Ps. 75,586,279 of principal and Ps. 773,920 of interest) and Ps. 90,577,596 (Ps. 89,739,938 of principal and Ps. 837,658 of interest), respectively. The roll-forward of the Mexican Government Bonds is as follows: As of June 30, 2023 2022 Balance as of the beginning of the year Ps. 110,179,517 Ps. 110,855,356 Government Bonds collected (1) (27,901,421) — Accrued interests 3,985,217 3,457,960 Interests received from bonds (4,547,770) (3,411,432) Impact of the valuation of bonds in UDIs 109,585 231,371 Amortized cost 270,498 144,580 Reversal of impairment (impairment) of bonds 2,546 (1,472) Balance at the end of the period Ps. 82,098,172 Ps. 111,276,363 (1) For 2023, Mexican Government Bonds were collected on March 9, 2023. B. Long-term notes receivable As of June 30, 2023 and December 31, 2022, the balance of long-term notes receivable was Ps. 1,372,338 and Ps. 1,334,126 and includes Ps. 759,834 and Ps. 783,999, respectively, of collection rights related to Value Added Tax from the non-recourse factoring contract between Pemex Logistics and Banco Mercantil del Norte, S.A. C. Other assets At June 30, 2023 and December 31, 2022, the balance of other assets was as follows: 2023 2022 Payments in advance (1) Ps. 16,791,154 Ps. 26,515,825 Other 3,337,753 2,565,824 Insurance 1,612,105 1,621,076 Total other assets Ps. 21,741,012 Ps. 30,702,725 (1) Mainly advance payments to contractors for the construction of the Olmeca Refinery in Dos Bocas, Paraíso, Tabasco through PTI ID. |
Debt
Debt | 6 Months Ended |
Jun. 30, 2023 | |
Disclosure of long term debt [abstract] | |
Debt | DEBT The Federal Revenue Law applicable to PEMEX as of January 1, 2023 published in the Official Gazette of the Federation on November 14, 2022, authorized Petróleos Mexicanos and its Subsidiary Entities to incur an internal net debt up to Ps. 27,068,400 and an external net debt up to U.S.$142,200. PEMEX can incur additional internal or external debt, as long as the total amount of net debt does not exceed the ceiling established by the Federal Revenue Law. The Board of Directors approves the terms and conditions for the incurrence of obligations that constitute public debt of Petróleos Mexicanos for each fiscal year, in accordance with the Petróleos Mexicanos Law and the Reglamento de la Ley de Petróleos Mexicanos (Regulations to the Petróleos Mexicanos Law). The terms and conditions are promulgated in accordance with the guidelines approved by the SHCP for Petróleos Mexicanos for the respective fiscal year. During the period from January 1 to June 30, 2023, PEMEX participated in the following financing activities: • On January 6, 2023, Petróleos Mexicanos entered into a credit line amounting to U.S.$50,000, bearing interest at a floating rate linked to 90-day SOFR plus 300 basis points, maturing in July 2023. • On January 13, 2023, Petróleos Mexicanos issued a promissory note for the principal amount of Ps. 4,000,000 bearing interest at a floating rate linked to 28-day TIIE plus 365 basis points, maturing in January 2024. • On January 23, 2023, Petróleos Mexicanos amended the maturity and interest rate of a credit contract of U.S.$750,000, to an interest floating rate linked to 90-day SOFR plus 350 basis points plus and adjustment for the change in the reference to 26 basis points, maturing in July 2024. • On January 27, 2023, Petróleos Mexicanos entered into a new revolving credit line for Ps. 4,000,000, bearing interest at a floating rate linked to 91-day TIIE plus 310 basis points, maturing in September 2023. • On January 27, 2023, Petróleos Mexicanos issued a promissory note for the principal amount of Ps. 4,000,000 bearing interest at a floating rate linked to 28-day TIIE plus 275 basis points, maturing in October 2023. • On January 31, 2023, Petróleos Mexicanos issued U.S.$2,000,000 of its 10.00% Notes due 2033 under its U.S.$125,000,000 Medium-Term Notes Program, Series C. All debt securities under this program are guaranteed by Pemex Exploration and Production, Pemex Industrial Transformation and Pemex Logistics. • On February 1, 2023, Petróleos Mexicanos issued a promissory note for the principal amount of Ps. 3,000,000 bearing interest at a floating rate linked to 28-day TIIE plus 275 basis points, maturing in May 2023. • On February 17, 2023, Petróleos Mexicanos issued a promissory note for the principal amount of U.S.$11,362 bearing interest at a floating rate linked to 30-day SOFR plus 175 basis points, maturing in February 2024. • On February 22, 2023, Petróleos Mexicanos entered into a new revolving credit line for Ps. 5,000,000, in two tranches: – Ps. 2,000,000, bearing interest at a floating rate linked to 91-day TIIE plus 320 basis points, maturing in July 2023. – Ps. 3,000,000, bearing interest at a floating rate linked to 91-day TIIE plus 325 basis points, maturing in August 2023. • On February 24, 2023, Petróleos Mexicanos issued a promissory note for the principal amount of Ps.2,000,000 bearing interest at a floating rate linked to 28-day TIIE plus 200 basis points, maturing in August 2023. • On February 24, 2023, Petróleos Mexicanos issued a promissory note for the principal amount of Ps.250,000 bearing interest at a floating rate linked to 28-day TIIE plus 235 basis points, maturing in February 2024. • On February 24, 2023, Petróleos Mexicanos issued a promissory note for the principal amount of Ps.3,000,000 bearing interest at a floating rate linked to 28-day TIIE plus 360 basis points, maturing in February 2024. • On February 28, 2023, Petróleos Mexicanos entered into a new term loan credit facility for U.S.$150,000, bearing interest at a floating rate linked to 90-day SOFR plus 450 basis points, maturing in February 2025. • On March 13, 2023, Petróleos Mexicanos issued a promissory note for the principal amount of U.S.$200,000 bearing interest at a fixed rate of 10.375%, maturing in March 2033. • On March 16, 2023, Petróleos Mexicanos issued a promissory note for the principal amount of U.S.$537,500 bearing interest at a fixed rate of 10.375%, maturing in March 2033. • On March 28, 2023, Petróleos Mexicanos obtained Ps.9,225,000 related to Monetization of Government Bonds, maturing in February 2024. • On April 27, 2023, Petróleos Mexicanos issued a promissory note for the principal amount of Ps. 3,000,000 bearing interest at a floating rate linked to 28-day TIIE plus 200 basis points, maturing in October 2023. • On April 28, 2023, Petróleos Mexicanos withdrew Ps. 2,000,000 from a revolving credit line bearing interest at a floating rate linked to 91-day TIIE plus 350 basis points, maturing in September 2023. • On May 15, 2023, Petróleos Mexicanos withdrew Ps. 2,000,000 from a revolving credit line bearing interest at a floating rate linked to 91-day TIIE plus 340 basis points, maturing in September 2023. • On May 24, 2023, Petróleos Mexicanos entered into a credit line to Ps. 19,000,000, bearing interest at a floating rate linked to 28-day TIIE plus 200 basis points, maturing in May 2024. • On June 2, 2023, Petróleos Mexicanos issued a promissory note for the principal amount of Ps. 1,500,000 bearing interest at a floating rate linked to 28-day TIIE plus 240 basis points, maturing in September 2023. • On June 15, 2023, Petróleos Mexicanos withdrew Ps. 2,500,000 from a revolving credit line bearing interest at a floating rate linked to 91-day TIIE plus 350 basis points, maturing in November 2023. • On June 15, 2023, Petróleos Mexicanos withdrew Ps. 2,000,000 from a revolving credit line bearing interest at a floating rate linked to 91-day TIIE plus 350 basis points, maturing in October 2023. • On June 28, 2023, Petróleos Mexicanos issued a promissory note for the principal amount of Ps. 3,000,000 bearing interest at a floating rate linked to 28-day TIIE plus 240 basis points, maturing in September 2023. As of June 30, 2023, PEMEX had U.S.$7,664,000 and Ps. 29,500,000 in credit lines in order to provide liquidity. As of June 30, 2023, the peso-denominated credit lines were fully drawn and U.S.$4,000 were available under U.S. dollar-denominated credit lines. All the financing activities mentioned above were guaranteed by Pemex Exploration and Production, Pemex Industrial Transformation and Pemex Logistics and their respective successors and assignees. As of December 31, 2022, the outstanding amount under PMI Trading's revolving credit line was U.S.$162,866. From January 1 to June 30, 2023, PMI Trading obtained U.S.$511,209 from its revolving credit line and repaid U.S.$541,555. As of June 30, 2023, the outstanding amount under this revolving credit line was U.S.$132,520 and the available amount was U.S.$92,480. The following table presents the roll-forward of total debt of PEMEX for each of the six-month periods ended June 30, 2023 and 2022, which includes short and long-term debt: As of June 30, 2023 (1) 2022 (1) Changes in total debt: At the beginning of the year Ps. 2,091,463,996 Ps. 2,249,695,894 Loans obtained - financing institutions 431,659,853 555,341,258 Debt payments (436,838,825) (565,601,629) Accrued interest (2)(3) 75,414,835 64,077,989 Interest paid (75,009,928) (67,056,203) Foreign exchange (200,072,975) (76,258,744) At the end of the period Ps. 1,886,616,956 Ps. 2,160,198,565 (1) These amounts include accounts payable by Financed Public Works Contracts (“FPWC”) (formerly known as, Multiple Services Contracts), which do not generate cash flows. (2) During 2023, includes Ps. 164,064 of premiums and awards amortizations; Ps. (984,320) of fees and expenses related to the issuance of debt and amortized cost of Ps. 1,310,414. (3) During 2022, includes Ps. 212,540 of premiums and awards amortizations; Ps. (355,978) of fees and expenses related to the issuance of debt and amortized cost of Ps. 5,314,601. As of June 30, 2023 and 2022, PEMEX used the following exchange rates to translate the outstanding balances in foreign currencies to pesos in the statement of financial position: June 30, 2023 June 30, 2022 U.S. dollar 17.0720 19.9847 Japanese yen 0.1183 0.1466 Pounds sterling 21.5977 24.3531 Euro 18.6443 21.0219 Swiss francs 19.0535 20.8880 |
Provisions for Sundry Creditors
Provisions for Sundry Creditors | 6 Months Ended |
Jun. 30, 2023 | |
Disclosure of other provisions [abstract] | |
Provisions For Sundry Creditors | PROVISIONS FOR SUNDRY CREDITORS At June 30, 2023, and December 31, 2022, the provisions for sundry creditors and others is as follows: June 30, 2023 December 31, 2022 Provision for plugging of wells (Note 13) Ps. 60,915,126 66,699,388 Provision for trails in process (Note 19) 9,340,511 10,533,137 Provision for environmental costs 12,320,339 11,914,160 Ps. 82,575,976 89,146,685 |
Equity (Deficit)
Equity (Deficit) | 6 Months Ended |
Jun. 30, 2023 | |
Disclosure Of Equity [abstract] | |
Equity (Deficit) | EQUITY (DEFICIT) A. Certificates of Contribution “A” The capitalization agreement between Petróleos Mexicanos and the Mexican Government states that the Certificates of Contribution “A” constitute permanent capital. For the six-month period ended June 30, 2023, Petróleos Mexicanos received Ps. 17,700,000 in Certificates of Contribution “A” from the Mexican Government. For the twelve-month period ended December 31, 2022, Petróleos Mexicanos received Ps. 188,306,717 in Certificates of Contribution “A” from the Mexican Government of which Ps. 129,018,286 were designated for the construction of the Olmeca Refinery in Dos Bocas, Paraíso, Tabasco; Ps. 45,437,539 for the strengthening of financial position and Ps. 13,850,892 for the rehabilitation plan of the National Refining System. PEMEX’s Certificates of Contribution “A” are as follows: Amount Certificates of Contribution “A” as of December 31, 2021 Ps. 841,285,576 Increase in Certificates of Contribution “A” during 2022 188,306,717 Certificates of Contribution “A” as of December 31, 2022 Ps. 1,029,592,293 Increase in Certificates of Contribution “A” during 2023 17,700,000 Certificates of Contribution “A” as of June 30, 2023 Ps. 1,047,292,293 Mexican Government contributions made in the form of Certificates of Contribution “A” during 2023 totaled Ps. 17,700,000 and were designated for the construction of the Olmeca Refinery in Dos Bocas, for the strengthening of Fertilizers chain and the rehabilitation plan of the National Refining System, as follows: Date Construction of the Olmeca Refinery Strengthening of Fertilizers chain Rehabilitation Plan of the refineries January 19 Ps. — 600,000 — January 30 — 600,000 — February 23 6,000,000 — — March 16 — — 10,500,000 Total Ps. 6,000,000 1,200,000 10,500,000 B. Mexican Government contributions During the six-month period ended June 30, 2023, there were no Mexican Government contributions apart from Certificates of Contribution “A”. During the twelve-month period ended December 31, 2022, Petróleos Mexicanos received a grant from the FONADIN in the amount of Ps. 23,000,000 for the acquisition of the remaining 50.005% interest in DPRLP (see Note 12). C. Legal reserve Under Mexican law, each of the Subsidiary Companies is required to allocate a certain percentage of its net income to a legal reserve fund until the fund reaches an amount equal to a certain percentage of each Subsidiary Company’s capital stock. As of June 30, 2023 and December 31, 2022, there were no changes to the legal reserve. D. Accumulated other comprehensive result As of June 30, 2023, the discount rate related to the liability for employee benefits carried by PEMEX was 9.21% , similar to the discount rate as of December 31, 2022 of 9.39%. Therefore, PEMEX did not make any adjustments in actuarial gains and losses. For the six -month period ended June 30, 2022 , PEMEX recognized net actuarial gains in other comprehensive income (loss) of Ps. 158,392,790; which is presented net of deferred income tax for Ps. (10,556,152), related to retirement and post-employment benefits. The variation related to retirement and post-employment benefits was the result of an increase in the discount and return on plan assets rates from 8.46% as of December 31, 2021 to 9.40% as of June 30, 2022 . E. Accumulated deficit from prior years PEMEX has recorded negative earnings in the past several years. However, the Ley de Concursos Mercantiles (“Commercial Bankruptcy Law of Mexico”) is not applicable to Petróleos Mexicanos and the Subsidiary Entities. Furthermore, the financing agreements to which PEMEX is a party do not provide for financial covenants that would be breached or events of default that would be triggered as a consequence of negative equity. F. Uncertainty related to going concern The condensed consolidated interim financial statements have been prepared assuming PEMEX will continue as a going concern. The going concern assumption contemplates the realization of assets and satisfaction of liabilities in normal course of business. However, substantial doubt about PEMEX’s ability to continue as a going concern exists. Facts and conditions PEMEX has substantial debt, incurred mainly to finance the capital expenditures needed to carry out its capital investment projects and to fund its operating expenses. Due to its heavy fiscal burden resulting from the payment of hydrocarbon extraction duties and other taxes, the cash flows derived from PEMEX’s operations in recent years have not been sufficient to fully fund its operations and capital expenditure programs, which have been partially supported by the Mexican Government's equity contributions. In addition, PEMEX´s working capital has deteriorated in recent years. In 2022 and 2023, certain ratings agencies downgraded PEMEX’s credit rating, mainly driven by the effects of COVID-19, concerns around our operating performance and the Mexican government’s ability and willingness to provide us with additional liquidity, as well the volatility of the crude oil prices and the downgrade of the Mexican Government’s sovereign debt rating, impacting PEMEX´s access to the financial markets, the cost and terms of PEMEX’s new debt and contract renegotiations that PEMEX may carry out during 2023. These conditions have negatively impacted PEMEX´s financial performance and also its liquidity position. As of June 30, 2023 and 2022 PEMEX recognized net income of Ps. 82,159,155 and Ps. 247,649,107, respectively. In addition, as of June 30, 2023 and December 31, 2022, PEMEX had a negative equity of Ps. (1,721,218,453), and Ps. (1,768,822,225), respectively, mainly due to continuous net losses in prior years, and a negative working capital of Ps. 517,157,488 and Ps. 401,842,480, as of June 30, 2023 and December 31, 2022, respectively. PEMEX has budget autonomy, and, in public finance terms, is subject to the cash flows financial balance goals approved in the Decreto de Presupuesto de Egresos de la Federación (“Federal Expenditure Budget Decree”). This represents the difference between its gross revenues (inflows) and its total budgeted expenditures (outflows) including the financial cost of its debt, which is proposed by the SHCP and approved by the Chamber of Deputies. The Federal Budget for 2023 authorized PEMEX to have a negative financial balance budget of Ps. zero. This shortfall does not consider payments of principal of PEMEX’s debt due in 2024 which will be covered by financing activities that do not represent a net debt in terms of public debt greater than Ps. 29,912,400. PEMEX has short-term debt principal maturities (including interest payable) of Ps.516,455,816 as of June 30, 2023. The combined effect of the above-mentioned events indicates substantial doubt about PEMEX’s ability to continue as a going concern. Actions PEMEX and the Mexican Government are carrying out the following actions, among others, to preserve liquidity and let PEMEX pay its commitments: The application of the tax credit decree to automotive fuels published in the Official Gazette of the Federation of March 4, 2022, remains through 2024, which allows PEMEX to substantially recover the value of the difference between the sale price and its international reference price, when in a scenario of oil and diesel, these are limited to the effects of inflation in the country. The reduction of the profit-sharing duty rate remains in 40.0% for 2023, the same as in 2022. During the six-month period ended June 30, 2023, PEMEX received equity contributions of Ps. 17,700,000 and issued notes totaling Ps. 41,200,000. In addition, PEMEX has plans to raise funds from the markets in accordance with prevailing conditions, to refinance its debt. Further, PEMEX has the capacity to refinance its short-term debt maturities through direct loans and revolving credit facilities and loans guaranteed by export credit agencies. PEMEX also established in conjunction with development and commercial banks Cadenas Productivas PEMEX Plus (Productive Chains Plus Program) to aid for the payment to suppliers and contractors. PEMEX's ability to refinance its short-term debt depends on factors beyond its control. The Revenue Law for 2023 also authorized PEMEX to incur a net additional indebtedness up to Ps. 29,912,400 (Ps. 27,068,400 and U.S.$142,200), which is considered as public debt by the Mexican Government and may be used to partially cover its financial balance of zero in 2023. PEMEX reviews and aligns its capital expenditures portfolio in accordance with updated economic assumptions on a periodic basis and giving priority to those projects which increase production in an efficient manner and at the lowest cost. On December 13, 2022, the Board of Directors of Petróleos Mexicanos approved the business plan of Petróleos Mexicanos and its Subsidiary Companies for 2023-2027 (the “2023-2027 Business Plan”). Prices of crude oil, natural gas and petroleum products showed a recovery in 2022, and they are expected to continue recover during 2023. In addition, if international values for the Mexican oil price were higher than the average price of U.S.$68.7 per barrel, the price on which the zero financial balance was built, this additional revenue would enable PEMEX to achieve its business plan objectives more quickly. Petróleos Mexicanos and its Subsidiary Entities are not subject to the Commercial Bankruptcy Law of Mexico and none of PEMEX’s existing financing agreements include any financial covenants that could lead to the demand for immediate payment of its debt due to having negative equity or non-compliance with financial ratios. As a reference, PEMEX prepared its consolidated financial statements as of June 30, 2023 and December 31, 2022 on a going concern basis. There are certain conditions that have generated important uncertainty and significant doubts concerning the entity’s ability to continue operating, including recurring net losses, negative working capital and negative equity. Those financial statements do not contain any adjustments that would be required if they were not prepared on a going concern basis. G. Non-controlling interest PEMEX does not currently own all of the shares of PMI CIM and COMESA, variations in income and equity from these entities are also presented in the consolidated statements of changes in equity (deficit) as “non-controlling interest.” |
Contingencies
Contingencies | 6 Months Ended |
Jun. 30, 2023 | |
Disclosure of contingent liabilities [abstract] | |
Contingencies | CONTINGENCIES In the ordinary course of business, PEMEX is named in a number of lawsuits of various types. PEMEX evaluates the merit of each claim and assesses the likely outcome. PEMEX has not recorded provisions related to ongoing legal proceedings since an unfavorable resolution is not expected in such proceedings, with the exception of the proceeding described in further detail in this Note. PEMEX is involved in various civil, tax, criminal, administrative, labor and commercial lawsuits and arbitration proceedings. The results of these proceedings are uncertain as of the date of these consolidated financial statements. As of June 30, 2023 and December 31, 2022, PEMEX had accrued a reserve of Ps. 9,340,511 and Ps. 10,533,137, respectively, for these contingent liabilities. As of June 30, 2023, the current status of the principal lawsuits in which PEMEX is involved is as follows: • On April 4, 2011, Pemex Exploration and Production was summoned before the Séptima Sala Regional Metropolitana (“Seventh Regional Metropolitan Court”) of the Tribunal Federal de Justicia Fiscal y Administrativa (“Tax and Administrative Federal Court”) in connection with an administrative claim (No. 4957/11-17-07-1) filed by EMS Energy Services de México, S. de R.L. de C.V. and Energy Maintenance Services Group I. LLC requesting that Pemex Exploration and Production’s termination of the public works contract be declared null and void. In a concurrent proceeding, the plaintiffs also filed an administrative claim (No. 13620/15-17-06) against Pemex Exploration and Production before the Sexta Sala Regional Metropolitana (“Sixth Regional Metropolitan Court”) of the Tax and Administrative Federal Court in Mexico City seeking damages totaling U.S.$193,713 related to the above-mentioned contract. Pemex Exploration and Production filed a response requesting the two administrative claims be joined in a single proceeding, which was granted. On April 30, 2019, a judgment was issued by the Segunda Seccion de la Sala Superior (“Second Section of the Superior Court”) in favor of Pemex Exploration and Production. On June 25, 2019, the plaintiffs filed an amparo (D.A. 397/2019) before the Tercer Tribunal Colegiado en Materia Administrativa del Primer Circuito (“Third Administrative Joint Court of the First Circuit”), which was granted. On March 12, 2020, Pemex Exploration and Production filed a motion to review against the resolution granting this amparo before the Third Administrative Joint Court of the First Circuit . On October 1, 2020, the Third Administrative Joint Court declared the resolution null and void, no amount was granted in favor of the plaintiffs, among others. On February 24, 2022, an amparo (350/2020) was granted in favor of EMS Energy Services de México, S. de R.L. On March 17, 2022, a motion was filed to draw the resolution by the Suprema Corte de Justicia de la Nación (Supreme Court of Justice of the Nation). On June 16, 2022 a resolution was issued in connection with the amparo 350/2020 stating that the plaintiffs partially proved their requests, and the resolution was declared null and void, among others. On August 1, 2022, a motion to review this resolution was filed and admitted (RF 574/2022) by the Third Administrative Joint Court of the First Circuit. On September 13, 2022, representations were made under the amparo (D.A. 539/2022) filed by the plaintiffs before such Court. As of the date of these condensed consolidated interim financial statements, a final resolution is still pending. • On October 18, 2019, the Sala Regional Peninsular (“Regional Peninsular Court”) of the Tribunal Federal de Justicia Administrativa (“Federal Justice Administrative Court”) in Mérida, Yucatán summoned Pemex Exploration and Production in connection with a claim (91/19-16-01-9) filed by PICO México Servicios Petroleros, S. de R.L. de C.V. requesting that Pemex Exploration and Production’s termination of the public works contract (no. 428814828) be declared null and void and seeking U.S.$137,300 for expenses and related damages, among other claims. On December 12, 2019, Pemex Exploration and Production filed a response to this claim. On March 28, 2020, a notification dated February 10, 2020, was received in which the extended claim was admitted. On February 10, 2020, the expert appointed by the plaintiff was accepted. On February 18, 2020, an extension requested by the accounting expert appointed by Pemex Exploration and Production was accepted and his opinion was filed and ratified on August 11, 2020. On June 1, 2021, an independent expert was designated. On September 30, 2021, a resolution was issued, which declared that all evidence has been filed. On October 15, 2021, the parties filed their pleadings. On November 9, 2021, this stage closed. On June 8, 2022, the Regional Peninsular Court sent the file to the Superior Court due to the amount involved in this claim. On August 22, 2022, the Regional Peninsular Court was informed that the Superior Court refused to attract this claim and on December 2, 2022 it was notified that the amparo was denied. On December 8, 2022, a complaint was filed against this resolution, which as of this date is still pending to be admitted. The Regional Peninsular Court, through a resolution dated December 5, 2022, revoked the resolution admitting the extended claim and the pleadings. The plaintiff filed a motion against this resolution, which was notified to Pemex Exploration and Production on March 21, 2023. Pemex Exploration and Production filed a response to this motion on March 30, 2023. On February 22, 2023 the Regional Peninsular Court requested the Superior Court to attract this claim. On March 21, 2023, Pemex Exploration and Production was notified a claim motion filed by the plaintiff against the resolution by which the claim was not extended. Pemex Exploration and Production filed a response to this claim motion on March 30, 2023, which was accepted by the Court on April 11, 2023 . As of the date of these condensed consolidated interim financial statements, a final resolution is still pending. • Constructora Norberto Odebrecht, S.A. filed an administrative claim against Pemex Industrial Transformation (file No. 4742/19-17-01-7) seeking U.S.$113,582 and Ps. 14,607 in connection with a termination resolution (no. 1,757) dated January 14, 2019, and issued by Pemex Industrial Transformation, which awarded U.S.$51,454 in favor of Pemex Industrial Transformation. The claim was admitted. On November 11, 2020, Pemex Industrial Transformation filed a response to this claim. The accounting expert filed his opinion. On June 2, 2022 an opinion by the accounting expert appointed by Pemex Industrial Transformation was filed. As of the date of these condensed consolidated interim financial statements, a final resolution is still pending. • On November 24, 2021, Pemex Industrial Transformation filed a repeal request (no. RRL2021014568) seeking that the resolutions dated October 7, 2021, issued by the Hydrocarbons Verification Manager of the Tax Administration Service be declared null and void. These resolutions established charges for Special Taxes on Production and Services, Value Added Taxes, fines among other for an amount of Ps. 3,084,975. As of the date of these condensed consolidated interim financial statements, a final resolution is still pending. • Micro Smart Systems de México, S. de R.L. de C.V. (MSSM) filed before the Sala Regional del Golfo Norte (Regional Court of the North Gulf) of the Tax and Administrative Federal Court (574/22-18-01-8) challenging a settlement statement dated February 17, 2022 related to a works contract number No. 424049831 issued by Pemex Exploration and Production and seeking U.S.$240,488. On April 5, 2022, the claim was admitted which was notified on May 17, 2022. On July 1, 2022, Pemex Exploration and Production filed a response to this claim, requesting Pemex Exploration and Production evidence, which was filed on August 8, 2022, and admitted by the Regional Court of the North Gulf on August 17, 2022. On September 2, 2022, this Regional Court confirmed the rejection of the evidence filed by the plaintiffs. On September 29, 2022, the Primera Sección de la Sala Superior ( First Section of the Superior Court) denied a compliant motion filed by MSSM against the settlement statement dated February 17, 2022. On October 7, 2022 a resolution was issued regarding the complaint filed by the plaintiff confirming the resolution issued on August 28, 2018. On November 14, 2022, the First Section of the Superior Court agreed to an amparo proceeding (1833/2022) against acts issued by the Juzgado Octavo de Distrito en Materia Administrativa (Eighth Administrative District Court), in Mexico City and required such authority to render the justified report. On May 17, 2023, the Regional Court of the North Gulf summoned the parties to file its rejoinders, which were filed by Pemex Exploration and Production on June 14, 2023. On June 22, 2023, the Regional Court ordered the file to be sent to the First Section of the Superior Court. As of the date of these condensed consolidated interim financial statements, a final resolution is still pending. • On September 9, 2022, Pemex Industrial Transformation filed a repeal request against a tax credit for the 2016 fiscal year related to the Special Tax on Production and Services and Value Added Tax for an amount of Ps. 5,852,222, seeking that this resolution is declared null and void. As of the date of these condensed consolidated interim financial statements, a final resolution is still pending. • Tech Man Group, S.A. de C.V. filed an administrative claim (7804/18-17-09-8) against Pemex Industrial Transformation seeking Ps. 2,009,598 for, among other things, payment of expenses and penalties in connection with a public works contract (CO-OF-019-4008699-11) before the Tribunal Fiscal de Justicia Administrativa (Fiscal Court of Administrative Justice). On June 25, 2019, a response was filed by Pemex Industrial Transformation as well as a motion against the admission of the claim, which was accepted. On October 2, 2019, the opinion of the accounting and construction experts submitted by the defendant was filed. On February 17, 2020 Pemex Industrial Transformation requested the Fiscal Court of Administrative Justice to appoint a new accounting expert since the previous appointed expert rejected his designation. The independent construction expert filed his opinion on March 2, 2020. On August 7, 2020, the Novena Sala Regional Metropolitana (Ninth Region Metropolitan Court) of the Federal Justice Court appointed an independent accounting expert who filed his report on December 7, 2020. The parties also filed their pleadings. On March 30, 2022, the Superior Court of the Fiscal Court of Administrative Justice stated that the claim was filed untimely. On June 1, 2022, the plaintiff filed an amparo against this resolution. On July 8, 2022, representations were filed under the amparo (437/2022) before the Décimo Quinto Tribunal Colegiado en materia Administrativa del Primer Circuito (Fifteenth Administrative Joint Court of the First Circuit). This claim was concluded by a resolution favorable to Pemex Industrial Transformation. On June 12, 2023, the Décimo Segundo Tribunal Colegiado de Circuito (Twelfth Joint Court of Circuit) ordered the file to be archived since this claim has concluded. |
Subsequent Events
Subsequent Events | 6 Months Ended |
Jun. 30, 2023 | |
Disclosure of non-adjusting events after reporting period [abstract] | |
Subsequent Events | SUBSEQUENT EVENTS A. Recent financing activities During the period from July 1 to August 31, 2023 , 2023, PEMEX participated in the following financing activities: • On July 21, 2023, Petróleos Mexicanos withdrew Ps. 1,500,000 from a revolving credit line bearing interest at a floating rate linked to 91-day TIIE plus 350 basis points, maturing in November 2023. • On August 28, 2023, Petróleos Mexicanos issued a promissory note for the principal amount of Ps. 2,000,000 bearing interest rate linked to 28-day TIIE plus 230 basis points, maturing in February 2024. As of June 30, 2023, the outstanding amount under the PMI Trading revolving credit line was U.S.$ 132,520. From July 1 to August 31, 2023, PMI Trading obtained U.S.$ 48,174 from its revolving credit line and repaid U.S.$ 36,087. As of August 31, 2023, the outstanding amount under this revolving credit line was U.S.$ 144,607. The available amount under this revolving credit lines was U.S.$ 80,393 as of August 31, 2023. As of August 31, 2023, PEMEX had U.S.$7,664,000 and Ps. 29,500,000 in credit lines in order to provide liquidity. As of August 31, 2023 the peso-denominated credit lines were fully drawn and U.S.$4,000 are available under U.S. dollar-denominated credit lines. B. Exchange rates and crude oil prices As of August 31, 2023, the Mexican peso-U.S. dollar exchange rate was Ps. 16.8402 per U.S. dollar, which represents a 1.4% appreciation of the value of the peso in U.S. dollar terms as compared to the exchange rate as of June 30, 2023, which was Ps. 17.0720 per U.S. dollar. This decrease in U.S. dollar exchange rate, has led to an estimate of Ps. 20,613,264 in PEMEX’s foreign exchange gains as of August 31, 2023. As of August 31, 2023, the weighted average price of the crude oil exported by PEMEX was U.S.$79.96 per barrel. This represents a price increase of approximately 22.8% as compared to the average price as of June 30, 2023, which was U.S.$65.14 per barrel. C. Exploration and Production Nohoch-A On July 7, 2023, a fire broke out at the Nohoch-A Processing Center and its compression platform in our Cantarell Field in the Bay of Campeche. The emergency stop system was activated and boats were sent to control the fire. 328 employees were working at the facility, of whom 321 were evacuated and 6 were injured. Unfortunately, two contractors lost their lives and one is still missing. The fire was controlled that same day and an investigation is being conducted to find the root cause. The Nohoch-A fire halted the production of 700,000 barrels of crude oil equivalent (oil and gas) on the day of the incident, with 600,000 barrels of crude oil equivalent was being restored within 48 hours after the incident. As of the date of this report, production levels at Nohoch-A have been restored. In August 2023, PEMEX recognized Ps. 10,066,649 of disposal of properties, plant and equipment in the statement of comprehensive income (loss) for the damaged assets. Once the investigation is complete PEMEX expects to receive insurance recovery, which it would recognize as other revenue. D. Mexican Government Contributions On July 26, 2023, Petróleos Mexicanos received Ps. 64,970,000 in Certificates of Contribution “A” from the Mexican Government through the Ministry of Energy, to help improve PEMEX’s financial position. On August 10, 2023, Petróleos Mexicanos received Ps. 5,534,500 in Certificates of Contribution “A” from the Mexican Government through the Ministry of Energy and were designated for the construction of the Olmeca Refinery in Dos Bocas. |
Subsidiary Guarantor Informatio
Subsidiary Guarantor Information | 6 Months Ended |
Jun. 30, 2023 | |
Supplemental Information [abstract] | |
Subsidiary Guarantor Information | SUBSIDIARY GUARANTOR INFORMATION The following consolidating information presents: (i) condensed consolidated statements of financial position at June 30, 2023 and December 31, 2022 and (ii) condensed consolidated statements of comprehensive income (loss) and cash flows for the six-month periods ended June 30, 2023 and 2022, of Petróleos Mexicanos, the Subsidiary Guarantors and the Non-Guarantor Subsidiaries (as defined below). These condensed consolidated statements were prepared in conformity with IFRS, with one exception: for the purposes of the presentation of the subsidiary guarantor information, the Subsidiary Entities and Subsidiary Companies have been accounted for as investments under the equity method by Petróleos Mexicanos. Earnings of subsidiaries are therefore reflected in Petróleos Mexicanos’ investment account and earnings. The principal elimination entries eliminate Petróleos Mexicanos’ investment in subsidiaries and inter-company balances and transactions. Pemex Exploration and Production, Pemex Industrial Transformation, Pemex Drilling and Services (merged with Pemex Exploration and Production), Pemex Logistics (collectively, the “Subsidiary Guarantors”) and Pemex Ethylene (merged with Pemex Industrial Transformation) and Pemex Fertilizers (merged with Pemex Industrial Transformation) are 100% owned subsidiaries of the Mexican Government. The guarantees by the Subsidiary Guarantors of Petróleos Mexicanos’ payment obligations under this indebtedness are full, unconditional, joint and several. Pemex Ethylene, Pemex Fertilizers, and the Subsidiary Companies collectively comprise the non-guarantor subsidiaries (the “Non-Guarantor Subsidiaries”). The Pemex Project Funding Master Trust (the “Master Trust”), which was a trust formed for the purpose of financing PEMEX’s projects, was dissolved effective December 20, 2011 and is no longer consolidated in the financial statements of PEMEX as of December 31, 2011 and thereafter. The following table sets forth, as of June 30, 2023, the principal amount outstanding of the registered debt securities originally issued by the Master Trust. As noted above, Petróleos Mexicanos has assumed, as primary obligor, all of the obligations of the Master Trust under these debt securities. The obligations of Petróleos Mexicanos are guaranteed by the Subsidiary Guarantors: Table 1: Registered Debt Securities originally issued by the Master Trust and Assumed by Petróleos Mexicanos Security Primary Guarantors Principal amount 6.625% Guaranteed Bonds due 2035 Petróleos Mexicanos Pemex Exploration and Production, Pemex Industrial Transformation and Pemex Logistics U.S.$ 1,750,000 6.625% Guaranteed Bonds due 2038 Petróleos Mexicanos Pemex Exploration and Production, Pemex Industrial Transformation and Pemex Logistics 491,175 8.625% Guaranteed Bonds due 2023 Petróleos Mexicanos Pemex Exploration and Production, Pemex Industrial Transformation and Pemex Logistics 63,705 9.500% Guaranteed Bonds due 2027 Petróleos Mexicanos Pemex Exploration and Production, Pemex Industrial Transformation and Pemex Logistics 168,625 The following table sets forth, as of June 30, 2023, the principal amount outstanding of the registered debt securities issued by Petróleos Mexicanos, and guaranteed by Pemex Exploration and Production, Pemex Industrial Transformation and Pemex Logistics. Table 2: Registered Debt Securities originally issued by Petróleos Mexicanos Security Primary Guarantors Principal amount 9.500% Global Guaranteed Bonds due 2027 Petróleos Mexicanos Pemex Exploration and Production, Pemex Industrial Transformation and Pemex Logistics 96,718 4.875% Notes due 2024 Petróleos Mexicanos Pemex Exploration and Production, Pemex Industrial Transformation and Pemex Logistics 844,175 6.625% Notes due 2035 Petróleos Mexicanos Pemex Exploration and Production, Pemex Industrial Transformation and Pemex Logistics 999,000 6.500% Bonds due 2041 Petróleos Mexicanos Pemex Exploration and Production, Pemex Industrial Transformation and Pemex Logistics 1,560,521 5.500% Bonds due 2044 Petróleos Mexicanos Pemex Exploration and Production, Pemex Industrial Transformation and Pemex Logistics 640,357 6.375% Bonds due 2045 Petróleos Mexicanos Pemex Exploration and Production, Pemex Industrial Transformation and Pemex Logistics 1,199,747 5.625% Bonds due 2046 Petróleos Mexicanos Pemex Exploration and Production, Pemex Industrial Transformation and Pemex Logistics 626,143 4.500% Notes due 2026 Petróleos Mexicanos Pemex Exploration and Production, Pemex Industrial Transformation and Pemex Logistics 1,124,403 4.250% Notes due 2025 Petróleos Mexicanos Pemex Exploration and Production, Pemex Industrial Transformation and Pemex Logistics 635,449 6.875% Notes due 2026 Petróleos Mexicanos Pemex Exploration and Production, Pemex Industrial Transformation and Pemex Logistics 2,502,771 4.625% Notes due 2023 Petróleos Mexicanos Pemex Exploration and Production, Pemex Industrial Transformation and Pemex Logistics 895,444 6.750% Bonds due 2047 Petróleos Mexicanos Pemex Exploration and Production, Pemex Industrial Transformation and Pemex Logistics 5,548,156 5.350% Notes due 2028 Petróleos Mexicanos Pemex Exploration and Production, Pemex Industrial Transformation and Pemex Logistics 1,976,720 6.350% Bonds due 2048 Petróleos Mexicanos Pemex Exploration and Production, Pemex Industrial Transformation and Pemex Logistics 1,574,041 6.500% Notes due 2027 Petróleos Mexicanos Pemex Exploration and Production, Pemex Industrial Transformation and Pemex Logistics 4,006,043 5.950% Notes due 2031 Petróleos Mexicanos Pemex Exploration and Production, Pemex Industrial Transformation and Pemex Logistics 3,777,381 Security Primary Guarantors Principal amount 6.490% Notes due 2027 Petróleos Mexicanos Pemex Exploration and Production, Pemex Industrial Transformation and Pemex Logistics 1,538,374 6.840% Notes due 2030 Petróleos Mexicanos Pemex Exploration and Production, Pemex Industrial Transformation and Pemex Logistics 2,345,538 6.950% Bonds due 2060 Petróleos Mexicanos Pemex Exploration and Production, Pemex Industrial Transformation and Pemex Logistics 3,796,812 7.690% Bonds due 2050 Petróleos Mexicanos Pemex Exploration and Production, Pemex Industrial Transformation and Pemex Logistics 8,047,831 6.500% Notes due 2029 Petróleos Mexicanos Pemex Exploration and Production, Pemex Industrial Transformation and Pemex Logistics 1,204,708 6.875% Notes due 2025 Petróleos Mexicanos Pemex Exploration and Production, Pemex Industrial Transformation and Pemex Logistics 901,836 8.750% Notes due 2029 Petróleos Mexicanos Pemex Exploration and Production, Pemex Industrial Transformation and Pemex Logistics 1,908,685 6.700% Notes due 2032 Petróleos Mexicanos Pemex Exploration and Production, Pemex Industrial Transformation and Pemex Logistics 6,779,842 Petróleos Mexicanos is the only PEMEX entity that had debt securities registered with the Securities and Exchange Commission (“SEC”) outstanding as of June 30, 2023 and as of the date of these consolidated financial statements, and all guaranteed debt is issued by Petróleos Mexicanos. The guaranties of the Subsidiary Guarantors are full and unconditional and joint and several. PEMEX’s management has not presented separate financial statements for the Subsidiary Guarantors, because it has determined that such information is not material to investors. SUPPLEMENTAL CONDENSED CONSOLIDATING FINANCIAL INFORMATION STATEMENT OF FINANCIAL POSITION As of June 30, 2023 Petróleos Subsidiary Non-guarantor Eliminations PEMEX Assets Current assets Cash and cash equivalents Ps. 13,449,953 Ps. 13,035,929 Ps. 37,629,318 Ps. — Ps. 64,115,200 Trade and other accounts receivable, derivative financial instruments and other current assets 45,494,295 159,384,502 97,315,803 — 302,194,600 Accounts receivable—inter-company 1,441,448,379 1,100,304,429 159,810,692 (2,701,563,500) — Inventories 2,062,759 71,239,937 39,099,315 — 112,402,011 Total current assets 1,502,455,386 1,343,964,797 333,855,128 (2,701,563,500) 478,711,811 Long-term receivables—intercompany 1,321,697,139 — 1,100,801 (1,322,797,940) — Investments in joint ventures and associates (1,143,521,446) 260,075,333 224,794,947 660,438,648 1,787,482 Wells, pipelines, properties, plant and equipment-net 6,766,117 1,053,534,069 271,119,619 — 1,331,419,805 Long-term notes receivables — 1,169,133 203,205 — 1,372,338 Right of use 1,336,586 43,038,014 3,095,300 — 47,469,900 Deferred taxes 52,304,373 109,798,541 5,822,206 — 167,925,120 Intangible assets 229,487 21,334,206 1,058,687 — 22,622,380 Mexican Government Bonds 52,869,024 — — — 52,869,024 Other assets — 2,725,841 19,015,171 — 21,741,012 Total assets Ps. 1,794,136,666 Ps. 2,835,639,934 Ps. 860,065,064 Ps. (3,363,922,792) Ps. 2,125,918,872 Liabilities Current liabilities Current portion of long-term debt Ps. 455,756,643 Ps. 18,888,740 Ps. 41,810,433 Ps. — Ps. 516,455,816 Accounts payable—inter-company 1,372,320,401 1,232,761,337 96,411,470 (2,701,493,208) — Other current liabilities 38,764,449 370,931,458 69,717,576 — 479,413,483 Total current liabilities 1,866,841,493 1,622,581,535 207,939,479 (2,701,493,208) 995,869,299 Long-term debt 1,322,067,362 18,892,490 29,201,288 — 1,370,161,140 Long-term payables—inter-company — 1,321,697,143 1,171,090 (1,322,868,233) — Employee benefits, provisions for sundry creditors, other liabilities and deferred taxes 326,120,130 1,134,140,214 20,846,542 — 1,481,106,886 Total liabilities 3,515,028,985 4,097,311,382 259,158,399 (4,024,361,441) 3,847,137,325 Equity (deficit), net (1,720,892,319) (1,261,671,448) 600,906,665 660,438,649 (1,721,218,453) Total liabilities and equity Ps. 1,794,136,666 Ps. 2,835,639,934 Ps. 860,065,064 Ps. (3,363,922,792) Ps. 2,125,918,872 SUPPLEMENTAL CONDENSED CONSOLIDATING FINANCIAL INFORMATION STATEMENT OF FINANCIAL POSITION As of December 31, 2022 Petróleos Subsidiary Non-guarantor Eliminations PEMEX Assets Current assets Cash and cash equivalents Ps. 14,809,052 Ps. 11,293,133 Ps. 38,312,326 Ps. — Ps. 64,414,511 Trade and other accounts receivable, derivative financial instruments and other current assets 61,562,752 197,610,993 78,288,125 — 337,461,870 Accounts receivable—inter-company 1,466,391,747 1,158,552,905 178,769,205 (2,803,713,857) — Inventories 1,695,679 79,127,255 45,195,463 — 126,018,397 Total current assets 1,544,459,230 1,446,584,286 340,565,119 (2,803,713,857) 527,894,778 Long-term receivables—intercompany 1,511,328,178 — 1,361,639 (1,512,689,817) — Investments in joint ventures and associates (1,203,291,062) 269,011,476 231,429,045 704,894,507 2,043,966 Wells, pipelines, properties, plant and equipment-net 6,832,860 1,089,869,156 272,048,834 — 1,368,750,850 Long-term notes receivables — 1,334,126 — — 1,334,126 Right of use 1,631,407 44,352,154 3,537,286 — 49,520,847 Deferred taxes 51,156,380 113,857,491 6,618,687 — 171,632,558 Intangible assets 149,947 28,673,801 1,201,186 — 30,024,934 Mexican Government Bonds 63,653,260 — — — 63,653,260 Other assets — 2,320,594 28,382,131 — 30,702,725 Total assets Ps. 1,975,920,200 Ps. 2,996,003,084 Ps. 885,143,927 Ps. (3,611,509,167) Ps. 2,245,558,044 Liabilities Current liabilities Current portion of long-term debt Ps. 398,101,726 Ps. 20,438,040 Ps. 47,407,917 Ps. — Ps. 465,947,683 Accounts payable—inter-company 1,423,626,118 1,293,390,155 86,538,902 (2,803,555,175) — Other current liabilities 31,085,188 346,977,135 85,727,252 — 463,789,575 Total current liabilities 1,852,813,032 1,660,805,330 219,674,071 (2,803,555,175) 929,737,258 Long-term debt 1,573,359,790 22,496,110 29,660,413 — 1,625,516,313 Long-term payables—inter-company — 1,511,403,321 1,445,177 (1,512,848,498) — Employee benefits, provisions for sundry creditors, other liabilities and deferred taxes 318,280,995 1,124,420,120 16,425,583 — 1,459,126,698 Total liabilities 3,744,453,817 4,319,124,881 267,205,244 (4,316,403,673) 4,014,380,269 Equity (deficit), net (1,768,533,617) (1,323,121,797) 617,938,683 704,894,506 (1,768,822,225) Total liabilities and equity Ps. 1,975,920,200 Ps. 2,996,003,084 Ps. 885,143,927 Ps. (3,611,509,167) Ps. 2,245,558,044 SUPPLEMENTAL CONDENSED CONSOLIDATING FINANCIAL INFORMATION STATEMENT OF COMPREHENSIVE INCOME For the six-month period ended June 30, 2023 Petróleos Subsidiary Non-guarantor Eliminations PEMEX Net revenues Ps. — Ps. 964,612,744 Ps. 535,421,693 Ps. (669,541,501) Ps. 830,492,936 Services income 45,035,270 58,406,395 8,823,442 (110,162,204) 2,102,903 Total revenues 45,035,270 1,023,019,139 544,245,135 (779,703,705) 832,595,839 (Impairment) of wells, pipelines, properties, plant and equipment — (66,084,491) — — (66,084,491) Cost of sales 460,531 842,537,312 523,106,568 (733,559,272) 632,545,139 Gross income 44,574,739 114,397,336 21,138,567 (46,144,433) 133,966,209 Total general expenses 38,149,619 89,782,055 5,019,445 (45,977,299) 86,973,820 Other revenues (expenses), net 632,971 6,831,617 1,864,792 170,720 9,500,100 Operating income 7,058,091 31,446,898 17,983,914 3,586 56,492,489 Financing cost, net (29,017,169) (31,880,276) (2,866,917) (3,585) (63,767,947) Foreign exchange income (loss), net (10,448,807) 236,709,116 4,415,823 — 230,676,132 Profit (loss) sharing in joint ventures and associates 113,450,915 2,500,777 31,397,239 (147,196,962) 151,969 Income (loss) before duties, taxes and other 81,043,030 238,776,515 50,930,059 (147,196,961) 223,552,643 Total taxes, duties and other (1,147,993) 141,775,172 766,309 — 141,393,488 Net income for the year 82,191,023 97,001,343 50,163,750 (147,196,961) 82,159,155 Total other comprehensive result (52,255,383) — (52,255,383) Total comprehensive income (loss) Ps. 82,191,023 Ps. 97,001,343 Ps. (2,091,633) Ps. (147,196,961) Ps. 29,903,772 SUPPLEMENTAL CONDENSED CONSOLIDATING FINANCIAL INFORMATION STATEMENT OF COMPREHENSIVE INCOME For the six-month period ended June 30, 2022 Petróleos Subsidiary Non-guarantor Eliminations PEMEX Net revenues Ps. — Ps. 1,443,712,261 Ps. 721,806,074 Ps. (931,687,998) Ps. 1,233,830,337 Services income 38,006,945 45,227,103 6,979,448 (86,945,780) 3,267,716 Total revenues 38,006,945 1,488,939,364 728,785,522 (1,018,633,778) 1,237,098,053 (Impairment) of wells, pipelines, properties, plant and equipment — 63,845,672 282,438 — 64,128,110 Cost of sales 557,103 1,077,349,334 702,287,493 (981,395,847) 798,798,083 Gross income 37,449,842 475,435,702 26,780,467 (37,237,931) 502,428,080 Total general expenses 35,617,276 76,863,490 5,908,946 (37,168,849) 81,220,863 Other revenues (expenses), net (139,960) 4,115,267 16,575,719 82,442 20,633,468 Operating income 1,692,606 402,687,479 37,447,240 13,360 441,840,685 Financing cost, net (20,819,565) (45,890,002) (4,728,572) (13,359) (71,451,498) Foreign exchange income (loss), net (2,072,184) 82,984,658 537,697 — 81,450,171 Profit (loss) sharing in joint ventures and associates 267,989,641 (63,898) 59,705,752 (327,470,347) 161,148 Income (loss) before duties, taxes and other 246,790,498 439,718,237 92,962,117 (327,470,346) 452,000,506 Total taxes, duties and other (1,126,984) 206,112,571 (634,188) — 204,351,399 Net income for the year 247,917,482 233,605,666 93,596,305 (327,470,346) 247,649,107 Total other comprehensive result 35,179,430 123,195,199 (19,137,957) — 139,236,672 Total comprehensive income (loss) Ps. 283,096,912 Ps. 356,800,865 Ps. 74,458,348 Ps. (327,470,346) Ps. 386,885,779 SUPPLEMENTAL CONDENSED CONSOLIDATING FINANCIAL INFORMATION STATEMENT OF CASH FLOWS For the six-month period ended June 30, 2023 Petróleos Subsidiary Non-guarantor Eliminations PEMEX consolidated Operating activities: Net income (loss) Ps. 82,191,023 Ps. 97,001,343 Ps. 50,163,750 Ps. (147,196,961) Ps. 82,159,155 Income taxes and duties (1,147,993) 141,775,172 766,309 — 141,393,488 Depreciation and amortization of wells, pipelines, properties, plant and equipment 283,832 54,269,423 2,237,923 — 56,791,178 Amortization of intangible assets 148,197 10,213 37,686 — 196,096 Impairment of wells, pipelines, properties, plant and equipment — 66,084,491 — — 66,084,491 Capitalized unsuccessful wells — 1,437,971 — — 1,437,971 Unsuccessful wells from intangible assets — 15,667,953 — — 15,667,953 Loss from derecognition of disposal of wells, pipelines, properties, plant and equipment 14 1,266,601 2,188,331 — 3,454,946 Depreciation of rights of use 294,821 1,912,430 178,326 — 2,385,577 Cancellation of leases (124,191) — 1,512 — (122,679) Discount rate of reserve for well abandonment — 2,024,600 — — 2,024,600 Loss (profit) sharing in joint ventures and associates (113,450,915) (2,001,116) (29,884,071) 145,184,133 (151,969) Unrealized foreign exchange loss (income) (190,694,401) (15,016,726) (7,084,940) — (212,796,067) Interest expense 65,163,379 6,312,376 3,305,062 — 74,780,817 Interest income (5,953,863) (1,679,381) (591,287) — (8,224,531) Duties and taxes 370,291 (91,561,760) (1,820,648) — (93,012,117) Accounts receivable, inventories, accounts payable, DFIs and provisions 6,637,569 32,450,467 (26,722,671) — 12,365,365 Employee benefits 8,076,244 21,866,558 28,910 — 29,971,712 Inter-company charges and deductions (27,299,944) 33,634,743 40,121,439 (46,456,238) — Cash flows from (used in) operating activities (175,505,937) 365,455,358 32,925,631 (48,469,066) 174,405,986 Investing activities: Acquisition of wells, pipelines, properties, plant and equipment and intangible assets (671,888) (102,774,574) (35,080,639) — (138,527,101) Other assets and other receivables 1,287,803 1,965,057 8,475,608 — 11,728,468 (Increase) decrease due to Inter-company investing 243,312,338 — 260,838 (243,573,176) — Cash flows (used in) from investing activities 243,928,253 (100,809,517) (26,344,193) (243,573,176) (126,798,633) Financing activities: Increase in equity due to Certificates of Contribution “A” 17,700,000 — — — 17,700,000 Collection and interest collected from the Mexican Government 32,449,191 — — — 32,449,191 Lease payments of principal and interest (331,046) (3,243,395) (400,933) — (3,975,374) Loans obtained from financial institutions 186,742,632 16,948,432 227,968,789 — 431,659,853 Debt payments, principal only (184,323,260) (21,434,858) (231,080,707) — (436,838,825) Interest paid (70,713,213) (4,838,220) 541,505 — (75,009,928) Inter-company increase (decrease) financing (51,305,719) (250,335,004) 9,598,481 292,042,242 — Net cash flows from (used in) financing activities: (69,781,415) (262,903,045) 6,627,135 292,042,242 (34,015,083) Net increase (decrease) in cash and cash equivalents (1,359,099) 1,742,796 13,208,573 — 13,592,270 Effects of foreign exchange on cash balances — — (13,891,581) — (13,891,581) Cash and cash equivalents at the beginning of the year 14,809,052 11,293,133 38,312,326 — 64,414,511 Cash and cash equivalents at the end of the year Ps. 13,449,953 Ps. 13,035,929 Ps. 37,629,318 Ps. — Ps. 64,115,200 SUPPLEMENTAL CONDENSED CONSOLIDATING FINANCIAL INFORMATION STATEMENT OF CASH FLOWS For the six-month period ended June 30, 2022 Petróleos Subsidiary Non-guarantor Eliminations PEMEX Operating activities: Net income Ps. 247,917,481 Ps. 233,605,670 Ps. 93,596,303 Ps. (327,470,347) Ps. 247,649,107 Income taxes and duties (1,126,984) 206,112,571 (634,188) — 204,351,399 Depreciation and amortization of wells, pipelines, properties, plant and equipment 282,795 65,843,669 3,287,529 — 69,413,993 Amortization of intangible assets 90,962 11,315 27,338 — 129,615 Impairment (reversal of impairment) of wells, pipelines, properties, plant and equipment — (63,845,672) (282,438) — (64,128,110) Capitalized unsuccessful wells — 6,716,632 — — 6,716,632 Unsuccessful wells from intangible assets — 4,539,894 — — 4,539,894 Loss from derecognition of disposal of wells, pipelines, properties, plant and equipment 370,097 724,903 919,611 — 2,014,611 Depreciation of rights of use 33,486 2,366,899 394,837 — 2,795,222 (Gains) on bargain purchase of business acquisition — — (1,271,188) — (1,271,188) Reclassification of translation effect — — (10,383,296) — (10,383,296) Unrealized foreign exchange loss of reserve for well abandonment — 1,614,548 — — 1,614,548 (Profit) sharing in joint ventures and associates, net (330,165,023) (2,227) (158,921) 330,165,023 (161,148) Unrealized foreign exchange (income) (73,703,064) (4,295,069) (2,030,093) — (80,028,226) Interest expense 59,059,878 3,265,559 1,921,618 — 64,247,055 Interest income (5,876,560) (11,383,187) (44,963) — (17,304,710) Duties and taxes (10,851,498) (193,586,129) 837,675 — (203,599,952) Accounts receivable, inventories, accounts payable, DFIs and provisions 60,410,925 (65,380,653) (73,693,349) — (78,663,077) Employee benefits 11,840,994 17,460,537 38,577 — 29,340,108 Inter-company charges and deductions 668,386,708 (201,809,802) 15,295,044 (481,871,950) — Cash flows from (used in) operating activities 626,670,197 1,959,458 27,820,096 (479,177,274) 177,272,477 Investing activities: Acquisition of wells, pipelines, properties, plant and equipment and intangible assets (305,827) (93,002,643) (45,871,778) — (139,180,248) Other assets and other receivables 710,592 1,795,627 (43,101,317) — (40,595,098) (Increase) decrease due to Inter-company investing 47,828,170 — 300,081 (48,128,251) — Cash flows (used in) from investing activities 48,232,935 (91,207,016) (88,673,014) (48,128,251) (179,775,346) Financing activities: Increase in equity due to Certificates of Contribution “A” and proceeds from FONADIN grants 113,437,539 — — — 113,437,539 Collection and interest collected from the Mexican Government 3,411,432 — — — 3,411,432 Lease payments of principal and interest (200,877) (4,797,046) (398,194) — (5,396,117) Loans obtained from financial institutions 166,249,869 — 349,427,981 — 515,677,850 Debt payments, principal only (212,579,746) (15,559,285) (337,462,598) — (565,601,629) Interest paid (64,812,821) (2,033,767) (209,615) — (67,056,203) Inter-company increase (decrease) financing (697,735,211) 118,779,986 51,649,700 527,305,525 — Net cash flows from (used in) financing activities: (692,229,815) 96,389,888 63,007,274 527,305,525 (5,527,128) Net increase (decrease) in cash and cash equivalents (17,326,683) 7,142,330 2,154,356 — (8,029,997) Effects of foreign exchange on cash balances — — (3,544,233) — (3,544,233) Cash and cash equivalents at the beginning of the year 34,690,405 6,157,869 35,658,173 — 76,506,447 Cash and cash equivalents at the end of the year Ps. 17,363,722 Ps. 13,300,199 Ps. 34,268,296 Ps. — Ps. 64,932,217 |
Segment Financial Information (
Segment Financial Information (Tables) | 6 Months Ended |
Jun. 30, 2023 | |
Disclosure of operating segments [abstract] | |
Condensed Financial Information of Segments after Elimination of Unrealized Intersegment Gain (Loss) | The following tables present the condensed financial information of these segments, after elimination of unrealized intersegment gain (loss), and include only select line items. The columns before intersegment eliminations include unconsolidated figures. As a result, the line items presented below may not total. These reporting segments are those which PEMEX’s management evaluates in its analysis and on which it bases its decision-making. These reporting segments are presented in PEMEX’s reporting currency. As of/for the six-month period ended June 30, 2023 Exploration Industrial Logistics DPRLP Trading Corporate Other Intersegment Total Revenues: Trade Ps. 210,208,695 391,599,929 — 81,871,944 136,828,605 — 9,983,763 — Ps. 830,492,936 Intersegment 243,185,733 122,295,916 54,666,766 6,247,343 281,288,494 45,034,813 26,984,640 (779,703,705) — Services income 13,179 164,645 884,275 — 1,012,550 457 27,797 — 2,102,903 (Impairment) reversal of impairment of wells, pipelines, properties, plant and equipment, net (59,536,095) (6,548,396) — — — — — — (66,084,491) Cost of sales 225,377,034 577,117,863 40,042,416 80,669,955 409,704,279 460,531 32,732,333 (733,559,272) 632,545,139 Gross income (loss) 168,494,478 (69,605,769) 15,508,625 7,449,332 9,425,370 44,574,739 4,263,867 (46,144,433) 133,966,209 Distribution, transportation and sale expenses 316,937 9,571,998 124,281 — 54,240 16,959 40,072 (2,635,132) 7,489,355 Administrative expenses 36,044,430 33,205,975 10,518,433 376,269 1,278,091 38,132,660 3,270,774 (43,342,167) 79,484,465 Other revenue 1,567,552 6,675,653 1,008,815 13,848 363,057 633,924 1,907,599 — 12,170,448 Other expenses 2,399,104 19,848 1,451 275,190 140,995 952 3,527 (170,719) 2,670,348 Operating income (loss) 131,301,559 (105,727,937) 5,873,275 6,811,721 8,315,101 7,058,092 2,857,093 3,585 56,492,489 Financing income 30,052,525 559,823 9,175,301 342,625 206,440 78,981,548 603,430 (111,697,161) 8,224,531 Financing cost 61,914,236 17,221,094 200,419 79,092 2,560,933 103,293,487 1,205,132 (111,693,576) 74,780,817 Derivative financial instruments income (cost), net 7,277,345 390,478 — — (174,255) (4,705,229) — — 2,788,339 Foreign exchange income (loss), net 120,010,658 116,517,971 180,487 — 67,687 (10,448,807) 4,348,136 — 230,676,132 Profit (loss) sharing in joint ventures and associates (36,008) 2,536,741 44 — 12,703,617 113,450,915 18,693,622 (147,196,962) 151,969 Total duties, taxes and other 137,788,248 — 3,986,924 68,655 401,312 (1,147,993) 296,342 — 141,393,488 Net income Ps. 88,903,595 (2,944,018) 11,041,764 7,006,599 18,156,345 82,191,025 25,000,807 (147,196,962) 82,159,155 Total current assets 843,095,989 244,095,842 274,576,032 29,017,242 200,879,944 1,520,298,659 105,043,856 (2,738,295,753) 478,711,811 Total non-current assets 842,714,333 493,465,218 155,495,584 27,365,605 99,590,366 291,681,281 399,253,967 (662,359,293) 1,647,207,061 Total current liabilities 503,725,524 1,052,497,596 84,161,480 7,644,001 152,008,082 1,884,684,765 49,373,312 (2,738,225,461) 995,869,299 Total long-term liabilities 1,779,099,360 617,484,028 78,146,459 3,940,414 330,424 1,648,187,493 46,948,084 (1,322,868,236) 2,851,268,026 Total equity (deficit) (597,014,562) (932,420,564) 267,763,677 44,798,432 148,131,804 (1,720,892,318) 407,976,427 660,438,651 (1,721,218,453) Depreciation and amortization of wells, pipelines, properties, plant and equipment 45,405,980 5,706,197 3,157,246 1,056,479 149,289 283,832 1,032,155 — 56,791,178 Depreciation of rights of use 113,458 1,587,118 211,854 — 122,344 294,821 55,982 — 2,385,577 Net periodic cost of employee benefits 18,748,351 27,211,126 4,349,264 — 2,051 16,638,728 23,002 — 66,972,522 Interest income (1) 89,075 485,865 32,888 184,924 40,456 6,133,697 365,906 — 7,332,811 Interest cost (2) (225,250) 1,725,577 199,954 79,092 2,147,091 64,305,915 1,078,318 — 69,310,697 (1) Included in financing income. (2) Included in financing cost. As of/for the three-month period ended June 30, 2023 Exploration Industrial Logistics DPRLP Trading Corporate Other Intersegment Total Revenues: Trade Ps. 110,946,624 178,768,338 — 43,120,554 73,435,364 — 6,308,660 — Ps. 412,579,540 Intersegment 119,412,979 60,765,403 29,994,502 587,387 132,348,619 24,362,588 13,414,644 (380,886,122) — Services income 6,419 121,522 938,914 (222) 502,541 225 7,917 — 1,577,316 (Impairment) reversal of impairment of wells, pipelines, properties, plant and equipment, net (18,867,771) (7,079,332) — — — — — — (25,947,103) Cost of sales 121,795,236 277,734,654 21,622,942 41,697,687 203,398,658 315,117 17,483,960 (355,485,478) 328,562,776 Gross income (loss) 89,703,015 (45,158,723) 9,310,474 2,010,032 2,887,866 24,047,696 2,247,261 (25,400,644) 59,646,977 Distribution, transportation and sale expenses 148,578 3,985,661 76,746 — (25,611) (17,883) 19,442 (1,275,636) 2,911,297 Administrative expenses 19,585,824 17,219,109 5,279,115 150,244 763,313 18,450,331 1,529,133 (23,727,740) 39,249,329 Other revenue 702,841 2,843,993 973,245 9,590 150,105 568,126 725,894 — 5,973,794 Other expenses 1,744,962 (765) 444,794 137,247 19,922 952 3,039 (406,396) 1,943,755 Operating income (loss) 68,926,492 (63,518,735) 4,483,064 1,732,131 2,280,347 6,182,422 1,421,541 9,128 21,516,390 Financing income 13,880,957 348,807 4,552,787 204,983 108,226 37,157,911 254,191 (54,298,483) 2,209,379 Financing cost 28,815,708 9,588,288 118,058 38,100 1,241,563 50,473,637 619,456 (54,289,355) 36,605,455 Derivative financial instruments income (cost), net 3,050,956 174,753 — — (268,857) (466,905) — — 2,489,947 Foreign exchange income (loss), net 54,114,570 55,403,887 106,473 — 32,713 (6,566,620) 2,268,407 — 105,359,430 Profit (loss) sharing in joint ventures and associates (36,963) 1,398,321 44 — 3,121,162 39,013,523 4,551,956 (48,006,030) 42,013 Total duties, taxes and other 65,582,750 — 3,920,277 56,177 335,393 (592,463) 286,191 — 69,588,325 Net income Ps. 45,537,554 Ps. (15,781,255) Ps. 5,104,033 Ps. 1,842,837 Ps. 3,696,635 Ps. 25,439,157 Ps. 7,590,448 Ps. (48,006,030) Ps. 25,423,379 Depreciation and amortization of wells, pipelines, properties, plant and equipment 23,246,437 2,695,759 1,552,736 494,220 67,644 132,626 546,198 — 28,735,620 Depreciation of rights of use 43,680 811,153 115,262 (135,604) 60,417 147,410 35,600 — 1,077,918 Net periodic cost of employee benefits 9,374,176 13,702,260 2,174,632 — 459 8,319,364 11,162 — 33,582,053 Interest income (1) 47,401 329,116 (2,874) 101,007 29,474 2,178,823 147,347 — 2,830,294 Interest cost (2) (76,444) 847,327 118,004 38,100 1,031,926 32,008,505 573,675 — 34,541,093 (1) Included in financing income. (2) Included in financing cost. As of/for the six-month period ended June 30, 2022 Exploration Industrial Logistics DPRLP (1) Trading Corporate Other Intersegment Total Revenues: Trade 308,298,472 618,726,186 — 126,668,052 169,781,579 — 10,356,048 — 1,233,830,337 Intersegment 374,019,724 145,380,711 41,159,889 8,413,658 379,281,826 38,006,417 32,371,556 (1,018,633,781) — Services income 55,992 542,874 755,518 837,375 1,069,040 528 6,389 — 3,267,716 Reversal of impairment of wells, pipelines, properties, plant and equipment, net 21,547,474 40,823,408 1,474,790 — 282,438 — — — 64,128,110 Cost of sales 280,517,474 767,234,738 29,597,122 120,070,610 541,457,523 557,103 40,759,361 (981,395,848) 798,798,083 Gross income (loss) 423,404,188 38,238,441 13,793,075 15,848,475 8,957,360 37,449,842 1,974,632 (37,237,933) 502,428,080 Distribution, transportation and sales expenses 226,909 7,989,966 59,280 — 558,584 (3,187) 38,666 (2,147,372) 6,722,846 Administrative expenses 31,412,215 28,375,029 8,800,091 508,938 1,410,341 35,620,463 3,392,418 (35,021,478) 74,498,017 Other revenue 3,484,143 3,063,566 177,347 3,133,094 10,580,467 230,142 3,404,033 — 24,072,792 Other expenses 2,264,706 375,144 (30,061) — 540,935 370,102 941 (82,443) 3,439,324 Operating income (loss) 392,984,501 4,561,868 5,141,112 18,472,631 17,027,967 1,692,606 1,946,640 13,360 441,840,685 Financing income 44,686,370 164,570 5,079,505 — 222,582 77,818,150 133,207 (110,799,674) 17,304,710 Financing cost 59,434,819 15,457,118 296,757 214,475 1,397,534 97,690,436 542,231 (110,786,315) 64,247,055 Derivative financial instruments (cost) income, net (20,621,361) (10,391) — — (2,930,121) (947,280) — — (24,509,153) Foreign exchange gain (loss), net 74,693,931 8,282,488 8,240 — (146,636) (2,072,184) 684,332 — 81,450,171 Profit (loss) sharing in joint ventures and associates (405,548) 341,643 6 — 18,885,053 267,989,641 40,820,699 (327,470,346) 161,148 Taxes, duties and other 208,691,330 — (2,578,759) — (722,559) (1,126,984) 88,371 — 204,351,399 Net income (loss) 223,211,744 (2,116,940) 12,510,865 18,258,156 32,383,870 247,917,481 42,954,276 (327,470,345) 247,649,107 Depreciation and amortization of wells, pipelines, properties, plant and equipment 56,101,453 6,770,498 2,971,718 2,147,037 184,256 282,795 956,236 — 69,413,993 Depreciation of rights of use 186,043 1,862,027 318,829 — 358,045 33,486 36,792 — 2,795,222 Net periodic cost of employee benefits 17,814,976 25,952,724 4,009,029 — 875 15,802,644 21,011 — 63,601,259 Interest income (2) 69,819 164,090 — — 27,615 4,453,222 17,349 — 4,732,095 Interest cost (3) 144,764 2,062,076 300,178 214,475 1,226,182 62,203,369 476,806 — 66,627,850 (1) Beginning January 20, 2022, DPRLP information is now included as a separate business segment. (2) Included in financing income. (3) Included in financing cost. As of/for the three-month period ended June 30, 2022 Exploration Industrial Logistics DPRLP (1) Trading Corporate Other Intersegment Total Revenues: Trade 176,402,007 372,336,628 — 74,122,078 90,954,226 — 4,885,945 — 718,700,884 Intersegment 202,242,892 81,438,009 22,608,212 16,063,587 243,866,576 21,491,009 22,859,915 (610,570,200) — Services income 45,833 240,376 332,289 (10,005) 464,770 221 3,156 — 1,076,640 Reversal of impairment of wells, pipelines, properties, plant and equipment, net 9,990,163 36,040,099 1,474,790 — 282,438 — — — 47,787,490 Cost of sales 154,405,392 452,943,152 15,967,750 78,458,043 334,450,072 306,429 25,769,717 (588,950,507) 473,350,048 Gross income (loss) 234,275,503 37,111,960 8,447,541 11,717,617 1,117,938 21,184,801 1,979,299 (21,619,693) 294,214,966 Distribution, transportation and sales expenses 95,812 4,143,250 43,281 — 257,652 (5,308) 23,635 (1,144,499) 3,413,823 Administrative expenses 17,086,738 14,507,399 4,443,379 508,132 753,675 17,435,165 2,157,880 (20,404,739) 36,487,629 Other revenue 1,152,714 1,790,925 162,645 (37,434) 144,191 99,443 1,021,310 — 4,333,794 Other expenses 691,951 262,533 (21,840) — 411,970 62 195 (87,419) 1,257,452 Operating income (loss) 217,553,716 19,989,703 4,145,366 11,172,051 (161,168) 3,854,325 818,899 16,964 257,389,856 Financing income 17,205,283 105,124 2,744,749 — 135,093 39,675,983 106,516 (55,682,480) 4,290,268 Financing cost 30,858,509 8,145,452 143,080 90,462 768,596 50,092,918 307,257 (55,665,519) 34,740,755 Derivative financial instruments (cost) income, net (15,003,046) (11,554) — — (1,476,609) (266,740) — — (16,757,949) Foreign exchange gain (loss), net 15,945,048 4,611,961 16,825 — (64,713) (548,431) (312,480) — 19,648,210 (Loss) profit sharing in joint ventures and associates (111,041) 62,323 (1,121) — 10,085,425 131,492,618 16,961,908 (158,392,970) 97,142 Taxes, duties and other 113,131,952 — (6,814,141) — (499,450) (1,126,984) 79,989 — 104,771,366 Net income (loss) 91,599,499 16,612,105 13,576,880 11,081,589 8,248,882 125,241,821 17,187,597 (158,392,967) 125,155,406 Depreciation and amortization of wells, pipelines, properties, plant and equipment 29,691,333 3,271,172 1,489,959 1,100,491 92,774 134,641 490,130 — 36,270,500 Depreciation of rights of use 16,230 931,013 144,078 — 175,734 16,743 18,555 — 1,302,353 Net periodic cost of employee benefits 8,578,072 12,600,962 1,790,501 — (1,378) 7,607,346 10,506 — 30,586,009 Interest income (2) 37,475 104,695 (746) — 8,243 1,425,746 45,226 — 1,620,639 Interest cost (3) 44,344 903,139 151,231 214,475 651,075 31,596,305 274,608 — 33,835,177 (1) Beginning January 20, 2022, DPRLP information is now included as a separate business segment. (2) Included in financing income. (3) Included in financing cost. As of/for the year ended December 31, 2022 Exploration Industrial Logistics DPRLP (1) Trading Companies Corporate Other Intersegment Total Total current assets 915,532,623 296,527,986 251,070,455 31,935,985 208,042,447 1,548,257,534 101,716,681 (2,825,188,933) 527,894,778 Total non-current assets 886,317,756 502,433,210 160,667,832 32,675,568 104,756,605 431,460,970 407,146,635 (807,795,310) 1,717,663,266 Total current liabilities 519,212,766 1,078,322,279 79,817,063 10,287,103 163,897,630 1,856,611,334 46,619,334 (2,825,030,251) 929,737,258 Total non-current liabilities 1,968,555,771 614,563,455 75,200,326 4,153,387 513,730 1,891,640,785 42,864,055 (1,512,848,498) 3,084,643,011 Equity (deficit), net (685,918,158) (893,924,538) 256,720,899 50,171,062 148,387,691 (1,768,533,615) 419,379,927 704,894,507 (1,768,822,225) (1) Beginning January 20, 2022, DPRLP information is now included as a separate business segment |
Revenue (Tables)
Revenue (Tables) | 6 Months Ended |
Jun. 30, 2023 | |
Disclosure of disaggregation of revenue from contracts with customers [abstract] | |
Schedule of Revenue Disaggregation | A. Revenue disaggregation For the six- and three-month periods ended June 30, 2023 and 2022, the revenues were as follows: For the six-month period ended June 30, Exploration and Production Industrial Transformation Logistics DPRLP (1) Trading Corporate Other Operating Total Geographical market 2023 United States Ps. 136,012,733 — — 81,871,944 68,962,617 — 869,253 287,716,547 Other 39,759,687 — — — 5,264,697 — 40,520 45,064,904 Europe 33,896,770 — — — 2,573,765 — — 36,470,535 Local 552,684 391,745,411 884,275 — 61,040,076 457 9,101,787 463,324,690 Incentive for automotive fuels (2) — 19,163 — — — — — 19,163 Total Ps. 210,221,874 391,764,574 884,275 81,871,944 137,841,155 457 10,011,560 832,595,839 2022 United States Ps. 206,219,194 — — 127,505,427 125,401,036 — 980,535 460,106,192 Other 68,066,246 — — — 4,147,571 — 3,047,940 75,261,757 Europe 33,875,463 — — — 2,326,347 — — 36,201,810 Local 193,561 544,213,875 755,518 — 38,975,665 528 6,333,962 590,473,109 Incentive for automotive fuels (2) — 75,055,185 — — — — — 75,055,185 Total Ps. 308,354,464 619,269,060 755,518 127,505,427 170,850,619 528 10,362,437 1,237,098,053 Major products and services 2023 Crude oil Ps. 210,131,099 — — — 1,955,375 — — 212,086,474 Gas 77,596 31,648,990 — 2,439,805 17,270,489 — — 51,436,880 Refined petroleum products — 357,697,788 — 539,640 117,146,844 — — 475,384,272 Incentive for automotive fuels (2) — 19,163 — — — — — 19,163 Other — 2,233,988 — 78,892,499 455,897 — 9,983,763 91,566,147 Services 13,179 164,645 884,275 — 1,012,550 457 27,797 2,102,903 Total Ps. 210,221,874 391,764,574 884,275 81,871,944 137,841,155 457 10,011,560 832,595,839 2022 Crude oil Ps. 308,160,903 — — — — — — 308,160,903 Gas 137,569 64,589,228 — 4,592,291 49,777,615 — — 119,096,703 Refined petroleum products 467,335,043 — 61,044,103 117,463,434 — — 645,842,580 Incentive for automotive fuels (2) — 75,055,185 — — — — — 75,055,185 Other — 11,746,730 — 61,031,658 2,540,530 — 10,356,048 85,674,966 Services 55,992 542,874 755,518 837,375 1,069,040 528 6,389 3,267,716 Total Ps. 308,354,464 619,269,060 755,518 127,505,427 170,850,619 528 10,362,437 1,237,098,053 Timing of revenue recognition 2023 Products transferred at a point in time Ps. 210,208,695 381,329,360 884,275 81,871,944 136,828,605 — 9,983,763 821,106,642 Products and services transferred over the time 13,179 10,435,214 — — 1,012,550 457 27,797 11,489,197 Total Ps. 210,221,874 391,764,574 884,275 81,871,944 137,841,155 457 10,011,560 832,595,839 2022 Products transferred at a point in time Ps. 308,298,472 590,794,339 755,518 126,668,052 169,781,579 — 10,356,048 1,206,654,008 Products and services transferred over the time 55,992 28,474,721 — 837,375 1,069,040 528 6,389 30,444,045 Total Ps. 308,354,464 619,269,060 755,518 127,505,427 170,850,619 528 10,362,437 1,237,098,053 (1) Beginning January 20, 2022 DPRLP information is now included as a separate business segment. (2) For more information on the incentive for automotive fuels see Note 7-D below. For the three-month periods ended June 30, Exploration and Production Industrial Transformation Logistics DPRLP (1) Trading Corporate Other Operating Total Geographical market 2023 United States Ps. 69,342,075 — — 43,120,332 34,568,985 — 400,358 147,431,750 Other 22,290,415 — — — 3,245,955 — 27,773 25,564,143 Europe 18,818,524 — — — 1,858,790 — — 20,677,314 Local 502,029 178,890,234 938,914 — 34,264,175 225 5,888,446 220,484,023 Incentive for automotive fuels (2) — (374) — — — — — (374) Total Ps. 110,953,043 178,889,860 938,914 43,120,332 73,937,905 225 6,316,577 414,156,856 2022 United States Ps. 112,342,310 — — 74,112,073 66,505,495 — 151,366 253,111,244 Other 45,308,316 — — — 1,893,485 — 178,370 47,380,171 Europe 18,698,464 — — — 583,036 — — 19,281,500 Local 98,750 308,047,814 332,289 — 22,436,980 221 4,559,365 335,475,419 Incentive for automotive fuels (2) — 64,529,190 — — — — — 64,529,190 Total Ps. 176,447,840 372,577,004 332,289 74,112,073 91,418,996 221 4,889,101 719,777,524 Major products and services 2023 Crude oil Ps. 110,912,923 — — — 1,274,349 — — 112,187,272 Gas 33,701 13,975,569 — 2,439,805 6,791,280 — — 23,240,355 Refined petroleum products — 164,464,859 — (34,383,489) 65,086,715 — — 195,168,085 Incentive for automotive fuels (2) — (374) — — — — — (374) Other — 328,284 — 75,064,238 283,020 — 6,308,660 81,984,202 Services 6,419 121,522 938,914 (222) 502,541 225 7,917 1,577,316 Total Ps. 110,953,043 178,889,860 938,914 43,120,332 73,937,905 225 6,316,577 414,156,856 2022 Crude oil Ps. 176,349,089 — — — (545,108) — — 175,803,981 Gas 52,918 33,842,246 — 4,592,291 27,766,467 — — 66,253,922 Refined petroleum products — 266,504,836 — 43,645,022 63,577,862 — — 373,727,720 Incentive for automotive fuels (2) — 64,529,190 — — — — — 64,529,190 Other — 7,460,356 — 25,884,765 155,005 — 4,885,945 38,386,071 Services 45,833 240,376 332,289 (10,005) 464,770 221 3,156 1,076,640 Total Ps. 176,447,840 372,577,004 332,289 74,112,073 91,418,996 221 4,889,101 719,777,524 Timing of revenue recognition 2023 Products transferred at a point in time Ps. 110,946,624 225,728,523 938,914 43,120,554 73,435,364 — 6,308,660 460,478,639 Products and services transferred over the time 6,419 (46,838,663) — (222) 502,541 225 7,917 (46,321,783) Total Ps. 110,953,043 178,889,860 938,914 43,120,332 73,937,905 225 6,316,577 414,156,856 2022 Products transferred at a point in time Ps. 176,402,007 354,144,854 332,289 74,122,078 90,954,226 — 4,885,944 700,841,398 Products and services transferred over the time 45,833 18,432,150 — (10,005) 464,770 221 3,157 18,936,126 Total Ps. 176,447,840 372,577,004 332,289 74,112,073 91,418,996 221 4,889,101 719,777,524 (1) Beginning January 20, 2022 DPRLP information is now included as a separate business segment. (2) For more information on the incentive for automotive fuels see Note 7-D below. |
Financial Instruments (Tables)
Financial Instruments (Tables) | 6 Months Ended |
Jun. 30, 2023 | |
Disclosure of detailed information about financial instruments [abstract] | |
Summary of Carrying Amounts and Fair Value of Financial Assets and Liabilities | The following tables present information about PEMEX’s carrying amounts and fair values of financial assets and financial liabilities, including their levels in the fair value hierarchy, as of June 30, 2023, and December 31, 2022. It does not include fair value information for financial assets and financial liabilities not measured at fair value if the carrying amount is a reasonable approximation of fair value. Additionally, as of June 30, 2023, and December 31, 2022, the disclosure of the fair value for the lease obligations is not required. Carrying amount Fair value hierarchy As of June 30, 2023 FVTPL FVOCI – FVOCI – Financial Other financial Total carrying Level 1 Level 2 Level 3 Total Financial assets measured at fair value Derivative financial instruments 12,556,462 — — — — 12,556,462 — 12,556,462 — 12,556,462 Equity instruments (1) — — 355,252 — — 355,252 — 355,252 — 355,252 Total 12,556,462 — 355,252 — — 12,911,714 Financial assets not measured at fair value Cash and cash equivalents — — — 64,115,200 — 64,115,200 — — — — Customers — — — 113,476,185 — 113,476,185 — — — — Officials and employees — — — 5,179,999 — 5,179,999 — — — — Sundry debtors — — — 50,141,443 — 50,141,443 — — — — Investments in joint ventures and associates — — — 1,787,482 — 1,787,482 — — — — Notes receivable — — — 1,372,338 — 1,372,338 — — — — Mexican Government Bonds — — — 82,098,172 — 82,098,172 80,144,423 — — 80,144,423 Other assets — — — 4,162,711 — 4,162,711 — — — — Total — — — 322,333,530 — 322,333,530 Financial liabilities measured at fair value Derivative financial instruments (31,231,609) — — — — (31,231,609) — (31,231,609) — (31,231,609) Total (31,231,609) — — — — (31,231,609) Financial liabilities not measured at fair value Suppliers — — — — (231,157,760) (231,157,760) — — — — Accounts and accrued expenses payable — — — — (90,734,407) (90,734,407) — — — — Leases — — — — (45,215,204) (45,215,204) — — — — Debt — — — — (1,886,616,956) (1,886,616,956) — (1,621,807,044) — (1,621,807,044) Total — — — — (2,253,724,327) (2,253,724,327) (1) Refers to the participation in TAG Pipelines Sur, S. de R.L. de C.V. Carrying amount Fair value hierarchy As of December 31, 2022 FVTPL FVOCI – FVOCI – Financial Other financial Total carrying Level 1 Level 2 Level 3 Total Financial assets measured at fair value Derivative financial instruments 12,755,568 — — — — 12,755,568 — 12,755,568 — 12,755,568 Equity instruments (1) — — 370,317 — — 370,317 — 370,317 — 370,317 Total 12,755,568 — 370,317 — — 13,125,885 Financial assets not measured at fair value Cash and cash equivalents — — — 64,414,511 — 64,414,511 — — — — Customers — — — 107,117,145 — 107,117,145 — — — — Officials and employees — — — 4,965,645 — 4,965,645 — — — — Sundry debtors — — — 40,074,758 — 40,074,758 — — — — Investments in joint ventures and associates — — — 2,043,966 — 2,043,966 — — — — Notes receivable — — — 1,334,126 — 1,334,126 — — — — Mexican Government Bonds — — — 110,179,517 — 110,179,517 108,062,414 — — 108,062,414 Other assets — — — 4,602,021 — 4,602,021 — — — — Total — — — 334,731,689 — 334,731,689 Financial liabilities measured at fair value Derivative financial instruments (22,242,056) — — — — (22,242,056) — (22,242,056) — (22,242,056) Total (22,242,056) — — — — (22,242,056) Financial liabilities not measured at fair value Suppliers — — — — (282,245,250) (282,245,250) — — — — Accounts and accrued expenses payable — — — — (81,808,426) (81,808,426) — — — — Leases — — — — (51,131,575) (51,131,575) — — — — Debt — — — — (2,091,463,996) (2,091,463,996) — (1,853,421,785) — (1,853,421,785) Total — — — — (2,506,649,247) (2,506,649,247) |
Summary of Portfolio of Financial Instruments Composed of Debt Instruments and DFI | This portfolio of financial instruments is composed of debt instruments as shown below: *Notional Amounts As of June 30, 2023 Reference Rate (in thousands of U.S. dollars) Debt LIBOR 1M USD 450,101 LIBOR 3M USD 206,370 LIBOR 6M USD 701,113 *Note: Notional amounts with maturity after June 30, 2023 In the event that TIIE ceases to be published, the portfolio of financial instruments referenced to these floating rates is composed of debt instruments and DFIs as shown below: *Notional Amounts As of June 30, 2023 Reference Rate (in thousands of pesos) Debt TIIE 28D MXN 106,238,606 TIIE 91D MXN 29,060,976 DFI TIIE 28D MXN 32,505,574 *Note: Notional amounts with maturity after June 30, 2023. |
Cash and Cash Equivalents (Tabl
Cash and Cash Equivalents (Tables) | 6 Months Ended |
Jun. 30, 2023 | |
Cash and cash equivalents [abstract] | |
Summary of Cash and Cash Equivalents | As of June 30, 2023 and December 31, 2022, cash and cash equivalents were as follows: June 30, 2023 December 31, 2022 Cash on hand and in banks (1) Ps. 49,496,171 Ps. 41,316,304 Highly liquid investments (2) 14,619,029 23,098,207 Total of cash and cash equivalents Ps. 64,115,200 Ps. 64,414,511 (1) Cash on hand and in banks is primarily composed of cash in banks. |
Customers and Other Financing_2
Customers and Other Financing and Non-Financing Accounts Receivable (Tables) | 6 Months Ended |
Jun. 30, 2023 | |
Trade and other receivables [abstract] | |
Summary of Accounts Receivable and Other Receivables | A. Customers June 30, 2023 December 31, 2022 Domestic customers, net Ps. 72,378,073 Ps. 69,979,713 Export customers, net 41,098,112 37,137,432 Total customers, net Ps. 113,476,185 Ps. 107,117,145 |
Summary of Other Accounts Receivable | B. Other financial and non-financial accounts receivable June 30, 2023 December 31, 2022 Financial assets: Sundry debtors (1) Ps. 50,141,443 Ps. 40,074,758 Employees and officers 5,179,999 4,965,645 Total financial assets Ps. 55,321,442 Ps. 45,040,403 Non-financial assets: Taxes to be recovered and prepaid taxes Ps. 61,733,516 Ps. 44,597,094 Special Tax on Production and Services 22,891,100 75,213,134 Other accounts receivable 5,142,859 2,911,791 Total non-financial assets Ps. 89,767,475 Ps. 122,722,019 |
Inventories (Tables)
Inventories (Tables) | 6 Months Ended |
Jun. 30, 2023 | |
Disclosure of inventories [abstract] | |
Summary of Inventories | As of June 30, 2023 and December 31, 2022, inventories were as follows: June 30, 2023 December 31, 2022 Refined and petrochemicals products Ps. 50,929,957 Ps. 60,838,241 Crude oil 32,239,986 32,971,427 Products in transit 22,793,175 25,345,696 Materials and products in stock 6,169,050 6,171,040 Gas and condensate products 241,985 298,029 Materials in transit 27,858 393,964 Total Ps. 112,402,011 Ps. 126,018,397 |
Investments in Joint Ventures_2
Investments in Joint Ventures and Associates (Tables) | 6 Months Ended |
Jun. 30, 2023 | |
Investments in subsidiaries, joint ventures and associates reported in separate financial statements [abstract] | |
Schedule of Permanent Investments in joint Ventures and Associates | A. The investments in joint ventures and associates as of June 30, 2023 and December 31, 2022 were as follows: Percentage June 30, 2023 December 31, 2022 Sierrita Gas Pipeline LLC 35.00% Ps. 845,220 Ps. 1,051,626 Frontera Brownsville, LLC 50.00% 370,391 410,097 Texas Frontera, LLC 50.00% 177,635 185,967 CH 4 Energía, S.A. de C.V. 50.00% 161,658 170,188 Administración Portuaria Integral de Dos Bocas, S. A. de C.V. 40.00% 112,792 91,537 Other, net Various 119,786 134,551 Total Ps. 1,787,482 Ps. 2,043,966 |
Schedule (Loss) Profit Sharing in Joint Ventures and Associates | Profit (loss) sharing in joint ventures and associates: Six-month periods ended June 30, 2023 2022 Texas Frontera, LLC 31,239 7,256 Sierrita Gas Pipeline LLC 28,753 81,445 CH4 Energía, S.A. de C.V. 22,970 20,809 Administración Portuaria Integral de Dos Bocas, S.A. de C.V. 21,256 2,201 Frontera Brownsville, LLC 1,623 7,428 Other, net 46,128 42,009 Profit sharing in joint ventures and associates, net Ps. 151,969 Ps. 161,148 Three-month periods ended June 30, 2023 2022 Texas Frontera, LLC 19,351 4,264 CH4 Energía, S.A. de C.V. 11,049 4,344 Frontera Brownsville, LLC 704 4,505 Administración Portuaria Integral de Dos Bocas, S.A. de C.V. (9,042) 19,744 Sierrita Gas Pipeline LLC (778) 48,643 Other, net 20,729 15,642 Profit sharing in joint ventures and associates, net Ps. 42,013 Ps. 97,142 |
Summary of Business Acquisition Consideration Transferred | PEMEX’s purchase of control of Deer Park, through the 50.005% interest owned by Shell, included the following: Cash paid to Shell Ps. 8,597,743 U.S.$ 421,396 Payment of debt to third parties 18,289,066 896,391 Payment of DPRLP’s debt to company partners 3,496,054 171,350 Total consideration paid in cash Ps. 30,382,863 U.S.$ 1,489,137 Settlement of pre-existing relationship 6,663,803 326,609 Total consideration paid in cash and settlement of pre-existing relationship Ps. 37,046,666 U.S.$ 1,815,746 At the acquisition date, considering the amount of the value of the net assets and the consideration transferred, a gain at a bargain purchase was determined as follows: Total consideration transferred Ps. 37,046,666 U.S.$ 1,815,746 Fair value of the identifiable net assets acquired (38,317,854) (1,878,050) Gain on bargain purchase Ps. (1,271,188) U.S.$ (62,304) |
Disclosure of Identifiable Assets Acquired And Liabilities Assumed | The following table summarizes the fair value of the identifiable assets acquired, including the recognized value of the PEMEX interest prior to the purchase. Cash and cash equivalents Ps. 1,597,759 U.S.$ 78,310 Inventories 6,918,473 339,091 Other current assets 131,661 6,453 Total current Assets Ps. 8,647,893 U.S.$ 423,854 Property, Plant and Equipment 29,669,961 1,454,196 Total identifiable net assets acquired Ps. 38,317,854 U.S.$ 1,878,050 |
Wells, Pipelines, Properties,_2
Wells, Pipelines, Properties, Plant and Equipment, Net (Tables) | 6 Months Ended |
Jun. 30, 2023 | |
Disclosure of detailed information about property, plant and equipment [abstract] | |
Detailed Information About Property, Plant and Equipment | As of June 30, 2023 and December 31, 2022, wells, pipelines, properties, plant and equipment, net, is presented as follows: Plants Drilling Pipelines Wells Buildings Offshore Furniture and Transportation Construction in progress (1) Land Total fixed assets Investment Balances as of January 1, 2022 951,486,189 13,548,596 495,475,879 1,487,962,570 70,711,580 415,885,213 49,310,555 28,534,437 253,435,510 44,765,993 3,811,116,522 Acquisitions (2) 24,924,550 311,390 1,618,940 10,336,630 2,090,630 907,100 5,238,190 (3,064,920) 101,595,260 56,160 144,013,930 Reclassifications (190) — (71,210) — (530) — (76,130) (4,040) — — (152,100) Capitalization 8,340,710 — 4,044,640 30,885,250 746,020 662,340 590,880 — (45,680,130) 410,280 (10) Disposals (1,204,880) — (85,130) — (360) — (245,840) (650,280) (732,720) — (2,919,210) Translation effect (2,836,830) — (50,260) — (275,160) — (235,640) (132,920) (3,407,970) (70,850) (7,009,630) Balances as of June 30, 2022 Ps. 980,709,549 13,859,986 500,932,859 1,529,184,450 73,272,180 417,454,653 54,582,015 24,682,277 305,209,950 45,161,583 3,945,049,502 Balances as of January 1, 2023 1,053,836,879 14,840,995 493,683,632 1,586,407,714 73,865,712 420,363,210 50,809,657 29,297,417 374,025,584 53,125,295 4,150,256,095 Acquisitions 7,406,760 2,130,670 651,070 14,987,680 6,740 773,510 839,640 2,162,760 97,051,190 140,930 126,150,950 Reclassifications 412,300 — 103,360 2,967,760 (176,590) — 39,610 (60) (124,960) — 3,221,420 Capitalization 6,420,470 — 6,050,860 46,219,390 246,960 4,491,700 456,050 38,040 (63,923,470) — — Disposals (619,260) (511,310) (130,210) (1,094,130) (49,390) — (371,460) (13,330) (2,310,810) (600) (5,100,500) Translation effect (16,417,790) — (195,880) — (1,222,840) — (83,550) (522,430) (28,659,120) (304,280) (47,405,890) Balances as of June 30, 2023 Ps. 1,051,039,359 16,460,355 500,162,832 1,649,488,414 72,670,592 425,628,420 51,689,947 30,962,397 376,058,414 52,961,345 4,227,122,075 Plants Drilling Pipelines Wells Buildings Offshore Furniture and Transportation Construction in progress (1) Land Total fixed assets Accumulated depreciation and amortization Balances as of January 1, 2022 (682,489,735) (6,281,568) (236,437,335) (1,182,871,028) (45,856,045) (264,074,556) (44,695,207) (15,059,962) (58,818,479) — (2,536,583,915) Depreciation and amortization (19,569,930) (213,980) (7,707,800) (31,834,810) (934,610) (7,443,710) (1,388,530) (320,623) — — (69,413,993) Reclassifications 90 — — 71,670 530 — 75,760 4,050 — — 152,100 (Impairment) (18,573,240) — (1,321,170) (4,974,170) — — — — (109,370) — (24,977,950) Reversal of impairment 57,865,740 — 3,976,210 14,999,070 — 10,765,280 — — 1,499,760 — 89,106,060 Disposals 334,530 — 48,220 — 360 — 231,470 290,019 — — 904,599 Translation effect 1,720,180 — 23,470 — 136,790 — 198,590 5,970 — — 2,085,000 Balances as of June 30, 2022 Ps. (660,712,365) (6,495,548) (241,418,405) (1,204,609,268) (46,652,975) (260,752,986) (45,577,917) (15,080,546) (57,428,089) — (2,538,728,099) Balances as of January 1, 2023 (789,443,853) (6,593,644) (264,441,515) (1,260,106,083) (47,796,496) (294,192,090) (45,932,403) (15,664,032) (57,335,129) — (2,781,505,245) Depreciation and amortization (16,425,970) (403,660) (6,395,380) (25,684,940) (956,350) (5,500,690) (728,730) (695,458) — — (56,791,178) Reclassifications (405,220) — (103,360) (2,989,670) 309,120 — (32,350) 60 — — (3,221,420) (Impairment) (17,687,630) — (5,426,790) (32,382,700) — (25,066,390) — — (368,181) — (80,931,691) Reversal of impairment 9,514,200 — 329,110 532,450 — — — — 4,471,440 — 14,847,200 Disposals 222,630 219,120 109,680 740,570 — — 349,170 4,384 — — 1,645,554 Translation effect 9,325,760 — 180,200 — 610,030 — 50,820 87,700 — — 10,254,510 Balances as of June 30, 2023 Ps. (804,900,083) (6,778,184) (275,748,055) (1,319,890,373) (47,833,696) (324,759,170) (46,293,493) (16,267,346) (53,231,870) — (2,895,702,270) Wells, pipelines, properties, plant and equipment—net as of June 30, 2022 Ps. 319,997,184 7,364,438 259,514,454 324,575,182 26,619,205 156,701,667 9,004,098 9,601,731 247,781,861 45,161,583 1,406,321,403 Wells, pipelines, properties, plant and equipment—net as of June 30, 2023 Ps. 246,139,276 9,682,171 224,414,777 329,598,041 24,836,896 100,869,250 5,396,454 14,695,051 322,826,544 52,961,345 1,331,419,805 Depreciation rates 3 to 5% 5 % 2 to7% — 3 to 7% 4 % 3 to 10% 4 to 20% — — — Estimated useful lives 20 to 35 20 15 to 45 — 33 to 35 25 3 to 10 5 to 25 — — — (1) Mainly wells, pipelines and plants. (2) On January 20, 2022, PEMEX acquired assets with a cost of Ps. 29,669,961, consisting mainly of plants. This amount includes assets acquired through a business combination (see Note 12). A. For the six-month periods ended June 30, 2023 and 2022, the financing cost identified with fixed assets in the construction or installation stage, capitalized as part of the value of such fixed assets, was Ps. 2,389,748 and Ps. 1,674,380, respectively. Financing cost rates during the six-month periods ended June 30, 2023 and 2022 were 6.47% to 7.54% and 5.40% to 6.48%, respectively. B. The combined depreciation of fixed assets and amortization of wells for the six-month periods ended June 30, 2023 and 2022, recognized in operating costs and expenses, was Ps. 56,791,178 and Ps. 69,413,993, respectively. These figures include costs related to plugging and abandonment of wells for the six-month periods ended June 30, 2023 and 2022 of Ps. 30,330 and Ps. 35,914, respectively. C. As of June 30, 2023 and December 31, 2022, provisions relating to future plugging of wells costs amounted to Ps. 60,915,126 and Ps. 66,699,388, respectively, and are presented in the “Provisions for plugging of wells” (see Note 17). D. For the six-month periods ended June 30, 2023 and 2022, the translation effect of property, plant and equipment items from a different currency than the presentation currency was Ps. (37,151,380) and Ps. (4,924,630), respectively, which was mainly plant. E. During the six-month periods ended June 30, 2023 and 2022, PEMEX recognized a net (impairment) and a net reversal of impairment of Ps. (66,084,491) and Ps. 64,128,110, respectively, which is presented as a separate line item in the consolidated statement of comprehensive income (loss) as follows: 2023 2022 (Impairment) / Reversal of Pemex Exploration and Production (59,536,095) 21,547,474 Pemex Industrial Transformation (6,548,396) 40,823,408 Pemex Logistics — 1,474,790 MGAS — 282,438 (Impairment) reversal of impairment, net (66,084,491) 64,128,110 |
Summary of Net Impairment and Net Reversal of Impairment | 2023 2022 (Impairment) / Reversal of Pemex Exploration and Production (59,536,095) 21,547,474 Pemex Industrial Transformation (6,548,396) 40,823,408 Pemex Logistics — 1,474,790 MGAS — 282,438 (Impairment) reversal of impairment, net (66,084,491) 64,128,110 |
Summary of Reversal Impairment loss for CGUs | 2023 2022 Chuc (19,216,570) — Crudo Ligero Marino (7,863,676) — Aceite Terciario del Golfo (6,634,837) — Ogarrio Magallanes (6,448,126) (7,928,033) Burgos (5,995,860) 9,124,073 Tsimin Xux (5,224,009) 723,354 Ixtal - Manik (4,837,174) — Cantarell (2,851,694) 11,363,472 Antonio J. Bermúdez (1,139,810) 6,252,924 Poza Rica (751,664) — Tamaulipas Constituciones (742,705) 1,603,470 Arenque (528,440) — Misión (CEE) (28,177) 234,658 Santuario El Golpe (112,355) — Cuenca de Macuspana (70,075) 225,477 Lakach 2,905,272 (84,404) Cárdenas Mora (CEE) 3,805 — Ébano (CEE) — 32,483 Total Ps. (59,536,095) 21,547,474 As of June 30, 2023 and 2022, values in use for CGU with impairment or reversal of impairment are: 2023 2022 Aceite Terciario del Golfo Ps. 37,276,319 84,116,214 Chuc 36,565,512 83,989,635 Tsimin Xux 27,851,730 29,258,331 Ogarrio Magallanes 24,027,128 18,112,667 Crudo Ligero Marino 17,206,881 33,269,762 Antonio J. Bermúdez 8,654,361 23,181,387 Burgos 7,399,377 13,200,629 Ixtal - Manik 6,472,463 20,986,390 Poza Rica 5,500,551 — Arenque 4,084,877 6,674,267 Lakach 3,328,644 — Tamaulipas Constituciones 1,931,129 7,233,388 Ku-Maloob-Zaap — 724,768,145 Cuenca de Veracruz — 142,657,247 Cactus Sitio Grande — 38,229,203 Cuenca de Macuspana (83,935) 874,044 Misión (CEE) (716,358) — Cárdenas Mora (2,148,930) — Santuario El Golpe (2,412,398) — Cantarell (11,456,751) 63,391,663 Total Ps. 163,480,600 1,289,942,972 2023 2022 Madero Refinery (10,210,354) 14,750,919 Minatitlán Refinery (4,558,203) 32,560,935 Cosoleacaque Petrochemical Complex (1,301,741) (1,090,260) Burgos Gas Processor Complex (808,931) — Matapionche Gas Processor Complex (156,642) — Arenque Gas Processor Complex (104,647) — Tula Refinery — 9,830,444 Pajaritos Petrochemical Complex — 31,633 Nuevo Poza Rica Gas Processor Complex — (2,294,830) Poza Rica Gas Processor Complex 28,342 — Cangrejera Petrochemical Complex 524,059 (5,443,028) Nuevo Pemex Gas Processor Complex 1,080,820 — Morelos Petrochemical Complex 3,208,249 (7,522,405) Salamanca Refinery 5,750,652 — Total Ps. (6,548,396) 40,823,408 |
Assumptions to Determine Net Present Value of Reserves Long Lived Assets | To determine the value in use of long-lived assets associated to hydrocarbon extraction, the net present value of reserves is determined based on the following assumptions: As of June 30, 2023 2022 Average crude oil price 61.72 U.S.$/bl 60.99 U.S.$/bl Average gas price 4.96 U.S.$/mpc 5.09 U.S.$/mpc Average condensates price 67.57 U.S.$/bl 68.27 U.S.$/bl After-tax discount rate 10.42% annual 7.41% annual To determine the value in use of long-lived assets associated with the CGUs of Pemex Industrial Transformation, the net present value of cash flows was determined based on the following assumptions: As of June 30, 2023 2022 2023 2022 2023 2022 2023 2022 2023 2022 Refining Gas Petrochemicals Ethylene Fertilizers Average crude oil Price (U.S.$) 75.2 100.15 N.A. N.A. N.A. N.A Processed volume (1) 903 mbd 889 mbd 2,575 2,148 Variable because the load inputs are diverse Rate of U.S.$ $17.0720 $19.9847 $17.0720 $19.9847 $17.0720 19.9847 $17.0720 19.9847 $17.0720 $19.9847 Useful lives of the cash-generating units (year average) 11 12 6 7 5 5 5 5 5 5 Pre-tax discount rate 14.10% 10.59% 13.26% 10.62% 10.46% 8.82% 10.46% 8.82% 13.05% 10.49% Period (2) 2023 - 2033 2023 - 2028 2023 - 2027 2023 - 2027 2023 - 2027 (1) Average of the first four years. (2) The first five years are projected and stabilize at year six. |
Summary of Recoverable Amount of Assets | As of June 30, 2023 and 2022, the value in use for the impairment of fixed assets was as follows: 2023 2022 Tula Refinery Ps. 55,664,585 73,772,599 Salina Cruz Refinery 44,338,748 80,118,065 Salamanca Refinery 28,617,019 — Nuevo Pemex Gas Processor Complex 27,965,299 — Morelos Petrochemicals Complex 2,969,979 — Burgos Gas Processor Complex 965,475 — Cosoleacaque Petrochemicals Complex 858,643 — Madero Refinery 730,425 17,085,340 Minatitlán Refinery (3,168,068) 53,497,755 Poza Rica Gas Processor Complex (2,038,230) 1,504,232 Total Ps. 156,903,875 225,977,991 |
Intangible Assets, Net (Tables)
Intangible Assets, Net (Tables) | 6 Months Ended |
Jun. 30, 2023 | |
Disclosure of detailed information about intangible assets [abstract] | |
Schedule of Intangible Assets, Net are Wells Unassigned to a Reserve | A. Wells unassigned to a reserve As of June 30, 2023 2022 Wells unassigned to a reserve: Balance at the beginning of the year Ps. 28,388,655 18,639,136 Additions to construction in progress 18,994,442 13,421,438 Transfers against expenses (15,667,953) (4,539,894) Transfers against fixed assets (10,669,293) (3,513,868) Balance at the end of the period Ps. 21,045,851 24,006,812 |
Schedule of Other Components of Intangible Assets | B. Other intangible assets Other intangible assets are mainly licenses, exploration expenses, evaluation of assets and concessions. As of June 30, 2023 2022 Balance at the beginning of the year Ps. 1,636,280 1,377,010 Additions 297,387 1,774,478 Effects of foreign exchange (161,042) 19,659 Amortization (196,096) (129,615) Balance at the end of the period Ps. 1,576,529 3,041,532 |
Government Bonds, Long-Term N_2
Government Bonds, Long-Term Notes Receivable And Other Assets (Tables) | 6 Months Ended |
Jun. 30, 2023 | |
Disclosure Of Notes Receivable Government Bonds And Other Long Term Assets [Abstract] | |
Summary of Balance of Government Bonds | As of June 30, 2023 and December 31, 2022, the balance of Government Bonds valued at amortized cost was as follows: 2023 2022 Government Bonds (1) Ps. 82,098,172 Ps. 110,179,517 Less: current portion of Government Bonds, net of expected credit losses 29,229,148 46,526,257 Total long-term of Government bonds Ps. 52,869,024 Ps. 63,653,260 (1) As of June 30, 2023 and December 31, 2022, includes an expected credit loss of Ps. 9,717 for both periods. |
Summary of Roll forward of the Mexican Bonds | The roll-forward of the Mexican Government Bonds is as follows: As of June 30, 2023 2022 Balance as of the beginning of the year Ps. 110,179,517 Ps. 110,855,356 Government Bonds collected (1) (27,901,421) — Accrued interests 3,985,217 3,457,960 Interests received from bonds (4,547,770) (3,411,432) Impact of the valuation of bonds in UDIs 109,585 231,371 Amortized cost 270,498 144,580 Reversal of impairment (impairment) of bonds 2,546 (1,472) Balance at the end of the period Ps. 82,098,172 Ps. 111,276,363 (1) For 2023, Mexican Government Bonds were collected on March 9, 2023. |
Summary of Other Assets | At June 30, 2023 and December 31, 2022, the balance of other assets was as follows: 2023 2022 Payments in advance (1) Ps. 16,791,154 Ps. 26,515,825 Other 3,337,753 2,565,824 Insurance 1,612,105 1,621,076 Total other assets Ps. 21,741,012 Ps. 30,702,725 (1) Mainly advance payments to contractors for the construction of the Olmeca Refinery in Dos Bocas, Paraíso, Tabasco through PTI ID. |
Debt (Tables)
Debt (Tables) | 6 Months Ended |
Jun. 30, 2023 | |
Disclosure of long term debt [abstract] | |
Summary of Changes in Consolidated Debt | The following table presents the roll-forward of total debt of PEMEX for each of the six-month periods ended June 30, 2023 and 2022, which includes short and long-term debt: As of June 30, 2023 (1) 2022 (1) Changes in total debt: At the beginning of the year Ps. 2,091,463,996 Ps. 2,249,695,894 Loans obtained - financing institutions 431,659,853 555,341,258 Debt payments (436,838,825) (565,601,629) Accrued interest (2)(3) 75,414,835 64,077,989 Interest paid (75,009,928) (67,056,203) Foreign exchange (200,072,975) (76,258,744) At the end of the period Ps. 1,886,616,956 Ps. 2,160,198,565 (1) These amounts include accounts payable by Financed Public Works Contracts (“FPWC”) (formerly known as, Multiple Services Contracts), which do not generate cash flows. (2) During 2023, includes Ps. 164,064 of premiums and awards amortizations; Ps. (984,320) of fees and expenses related to the issuance of debt and amortized cost of Ps. 1,310,414. (3) During 2022, includes Ps. 212,540 of premiums and awards amortizations; Ps. (355,978) of fees and expenses related to the issuance of debt and amortized cost of Ps. 5,314,601. |
Summary of Foreign Currency Translation | As of June 30, 2023 and 2022, PEMEX used the following exchange rates to translate the outstanding balances in foreign currencies to pesos in the statement of financial position: June 30, 2023 June 30, 2022 U.S. dollar 17.0720 19.9847 Japanese yen 0.1183 0.1466 Pounds sterling 21.5977 24.3531 Euro 18.6443 21.0219 Swiss francs 19.0535 20.8880 |
Provisions for Sundry Credito_2
Provisions for Sundry Creditors (Tables) | 6 Months Ended |
Jun. 30, 2023 | |
Disclosure of other provisions [abstract] | |
Summary of Provisions for Sundry Creditors and Others | At June 30, 2023, and December 31, 2022, the provisions for sundry creditors and others is as follows: June 30, 2023 December 31, 2022 Provision for plugging of wells (Note 13) Ps. 60,915,126 66,699,388 Provision for trails in process (Note 19) 9,340,511 10,533,137 Provision for environmental costs 12,320,339 11,914,160 Ps. 82,575,976 89,146,685 |
Equity (Deficit) (Tables)
Equity (Deficit) (Tables) | 6 Months Ended |
Jun. 30, 2023 | |
Disclosure Of Equity [abstract] | |
Summary of Certificate of Contribution "A" | PEMEX’s Certificates of Contribution “A” are as follows: Amount Certificates of Contribution “A” as of December 31, 2021 Ps. 841,285,576 Increase in Certificates of Contribution “A” during 2022 188,306,717 Certificates of Contribution “A” as of December 31, 2022 Ps. 1,029,592,293 Increase in Certificates of Contribution “A” during 2023 17,700,000 Certificates of Contribution “A” as of June 30, 2023 Ps. 1,047,292,293 |
Summary of Government Contributions to Petróleos Mexicanos through the Ministry of Energy | Mexican Government contributions made in the form of Certificates of Contribution “A” during 2023 totaled Ps. 17,700,000 and were designated for the construction of the Olmeca Refinery in Dos Bocas, for the strengthening of Fertilizers chain and the rehabilitation plan of the National Refining System, as follows: Date Construction of the Olmeca Refinery Strengthening of Fertilizers chain Rehabilitation Plan of the refineries January 19 Ps. — 600,000 — January 30 — 600,000 — February 23 6,000,000 — — March 16 — — 10,500,000 Total Ps. 6,000,000 1,200,000 10,500,000 |
Subsidiary Guarantor Informat_2
Subsidiary Guarantor Information (Tables) | 6 Months Ended |
Jun. 30, 2023 | |
Supplemental Information [abstract] | |
Summary of Principal Amount Outstanding of Registered Debt Securities | The following table sets forth, as of June 30, 2023, the principal amount outstanding of the registered debt securities originally issued by the Master Trust. As noted above, Petróleos Mexicanos has assumed, as primary obligor, all of the obligations of the Master Trust under these debt securities. The obligations of Petróleos Mexicanos are guaranteed by the Subsidiary Guarantors: Table 1: Registered Debt Securities originally issued by the Master Trust and Assumed by Petróleos Mexicanos Security Primary Guarantors Principal amount 6.625% Guaranteed Bonds due 2035 Petróleos Mexicanos Pemex Exploration and Production, Pemex Industrial Transformation and Pemex Logistics U.S.$ 1,750,000 6.625% Guaranteed Bonds due 2038 Petróleos Mexicanos Pemex Exploration and Production, Pemex Industrial Transformation and Pemex Logistics 491,175 8.625% Guaranteed Bonds due 2023 Petróleos Mexicanos Pemex Exploration and Production, Pemex Industrial Transformation and Pemex Logistics 63,705 9.500% Guaranteed Bonds due 2027 Petróleos Mexicanos Pemex Exploration and Production, Pemex Industrial Transformation and Pemex Logistics 168,625 The following table sets forth, as of June 30, 2023, the principal amount outstanding of the registered debt securities issued by Petróleos Mexicanos, and guaranteed by Pemex Exploration and Production, Pemex Industrial Transformation and Pemex Logistics. Table 2: Registered Debt Securities originally issued by Petróleos Mexicanos Security Primary Guarantors Principal amount 9.500% Global Guaranteed Bonds due 2027 Petróleos Mexicanos Pemex Exploration and Production, Pemex Industrial Transformation and Pemex Logistics 96,718 4.875% Notes due 2024 Petróleos Mexicanos Pemex Exploration and Production, Pemex Industrial Transformation and Pemex Logistics 844,175 6.625% Notes due 2035 Petróleos Mexicanos Pemex Exploration and Production, Pemex Industrial Transformation and Pemex Logistics 999,000 6.500% Bonds due 2041 Petróleos Mexicanos Pemex Exploration and Production, Pemex Industrial Transformation and Pemex Logistics 1,560,521 5.500% Bonds due 2044 Petróleos Mexicanos Pemex Exploration and Production, Pemex Industrial Transformation and Pemex Logistics 640,357 6.375% Bonds due 2045 Petróleos Mexicanos Pemex Exploration and Production, Pemex Industrial Transformation and Pemex Logistics 1,199,747 5.625% Bonds due 2046 Petróleos Mexicanos Pemex Exploration and Production, Pemex Industrial Transformation and Pemex Logistics 626,143 4.500% Notes due 2026 Petróleos Mexicanos Pemex Exploration and Production, Pemex Industrial Transformation and Pemex Logistics 1,124,403 4.250% Notes due 2025 Petróleos Mexicanos Pemex Exploration and Production, Pemex Industrial Transformation and Pemex Logistics 635,449 6.875% Notes due 2026 Petróleos Mexicanos Pemex Exploration and Production, Pemex Industrial Transformation and Pemex Logistics 2,502,771 4.625% Notes due 2023 Petróleos Mexicanos Pemex Exploration and Production, Pemex Industrial Transformation and Pemex Logistics 895,444 6.750% Bonds due 2047 Petróleos Mexicanos Pemex Exploration and Production, Pemex Industrial Transformation and Pemex Logistics 5,548,156 5.350% Notes due 2028 Petróleos Mexicanos Pemex Exploration and Production, Pemex Industrial Transformation and Pemex Logistics 1,976,720 6.350% Bonds due 2048 Petróleos Mexicanos Pemex Exploration and Production, Pemex Industrial Transformation and Pemex Logistics 1,574,041 6.500% Notes due 2027 Petróleos Mexicanos Pemex Exploration and Production, Pemex Industrial Transformation and Pemex Logistics 4,006,043 5.950% Notes due 2031 Petróleos Mexicanos Pemex Exploration and Production, Pemex Industrial Transformation and Pemex Logistics 3,777,381 Security Primary Guarantors Principal amount 6.490% Notes due 2027 Petróleos Mexicanos Pemex Exploration and Production, Pemex Industrial Transformation and Pemex Logistics 1,538,374 6.840% Notes due 2030 Petróleos Mexicanos Pemex Exploration and Production, Pemex Industrial Transformation and Pemex Logistics 2,345,538 6.950% Bonds due 2060 Petróleos Mexicanos Pemex Exploration and Production, Pemex Industrial Transformation and Pemex Logistics 3,796,812 7.690% Bonds due 2050 Petróleos Mexicanos Pemex Exploration and Production, Pemex Industrial Transformation and Pemex Logistics 8,047,831 6.500% Notes due 2029 Petróleos Mexicanos Pemex Exploration and Production, Pemex Industrial Transformation and Pemex Logistics 1,204,708 6.875% Notes due 2025 Petróleos Mexicanos Pemex Exploration and Production, Pemex Industrial Transformation and Pemex Logistics 901,836 8.750% Notes due 2029 Petróleos Mexicanos Pemex Exploration and Production, Pemex Industrial Transformation and Pemex Logistics 1,908,685 6.700% Notes due 2032 Petróleos Mexicanos Pemex Exploration and Production, Pemex Industrial Transformation and Pemex Logistics 6,779,842 |
Supplemental Statement of Financial Position | SUPPLEMENTAL CONDENSED CONSOLIDATING FINANCIAL INFORMATION STATEMENT OF FINANCIAL POSITION As of June 30, 2023 Petróleos Subsidiary Non-guarantor Eliminations PEMEX Assets Current assets Cash and cash equivalents Ps. 13,449,953 Ps. 13,035,929 Ps. 37,629,318 Ps. — Ps. 64,115,200 Trade and other accounts receivable, derivative financial instruments and other current assets 45,494,295 159,384,502 97,315,803 — 302,194,600 Accounts receivable—inter-company 1,441,448,379 1,100,304,429 159,810,692 (2,701,563,500) — Inventories 2,062,759 71,239,937 39,099,315 — 112,402,011 Total current assets 1,502,455,386 1,343,964,797 333,855,128 (2,701,563,500) 478,711,811 Long-term receivables—intercompany 1,321,697,139 — 1,100,801 (1,322,797,940) — Investments in joint ventures and associates (1,143,521,446) 260,075,333 224,794,947 660,438,648 1,787,482 Wells, pipelines, properties, plant and equipment-net 6,766,117 1,053,534,069 271,119,619 — 1,331,419,805 Long-term notes receivables — 1,169,133 203,205 — 1,372,338 Right of use 1,336,586 43,038,014 3,095,300 — 47,469,900 Deferred taxes 52,304,373 109,798,541 5,822,206 — 167,925,120 Intangible assets 229,487 21,334,206 1,058,687 — 22,622,380 Mexican Government Bonds 52,869,024 — — — 52,869,024 Other assets — 2,725,841 19,015,171 — 21,741,012 Total assets Ps. 1,794,136,666 Ps. 2,835,639,934 Ps. 860,065,064 Ps. (3,363,922,792) Ps. 2,125,918,872 Liabilities Current liabilities Current portion of long-term debt Ps. 455,756,643 Ps. 18,888,740 Ps. 41,810,433 Ps. — Ps. 516,455,816 Accounts payable—inter-company 1,372,320,401 1,232,761,337 96,411,470 (2,701,493,208) — Other current liabilities 38,764,449 370,931,458 69,717,576 — 479,413,483 Total current liabilities 1,866,841,493 1,622,581,535 207,939,479 (2,701,493,208) 995,869,299 Long-term debt 1,322,067,362 18,892,490 29,201,288 — 1,370,161,140 Long-term payables—inter-company — 1,321,697,143 1,171,090 (1,322,868,233) — Employee benefits, provisions for sundry creditors, other liabilities and deferred taxes 326,120,130 1,134,140,214 20,846,542 — 1,481,106,886 Total liabilities 3,515,028,985 4,097,311,382 259,158,399 (4,024,361,441) 3,847,137,325 Equity (deficit), net (1,720,892,319) (1,261,671,448) 600,906,665 660,438,649 (1,721,218,453) Total liabilities and equity Ps. 1,794,136,666 Ps. 2,835,639,934 Ps. 860,065,064 Ps. (3,363,922,792) Ps. 2,125,918,872 SUPPLEMENTAL CONDENSED CONSOLIDATING FINANCIAL INFORMATION STATEMENT OF FINANCIAL POSITION As of December 31, 2022 Petróleos Subsidiary Non-guarantor Eliminations PEMEX Assets Current assets Cash and cash equivalents Ps. 14,809,052 Ps. 11,293,133 Ps. 38,312,326 Ps. — Ps. 64,414,511 Trade and other accounts receivable, derivative financial instruments and other current assets 61,562,752 197,610,993 78,288,125 — 337,461,870 Accounts receivable—inter-company 1,466,391,747 1,158,552,905 178,769,205 (2,803,713,857) — Inventories 1,695,679 79,127,255 45,195,463 — 126,018,397 Total current assets 1,544,459,230 1,446,584,286 340,565,119 (2,803,713,857) 527,894,778 Long-term receivables—intercompany 1,511,328,178 — 1,361,639 (1,512,689,817) — Investments in joint ventures and associates (1,203,291,062) 269,011,476 231,429,045 704,894,507 2,043,966 Wells, pipelines, properties, plant and equipment-net 6,832,860 1,089,869,156 272,048,834 — 1,368,750,850 Long-term notes receivables — 1,334,126 — — 1,334,126 Right of use 1,631,407 44,352,154 3,537,286 — 49,520,847 Deferred taxes 51,156,380 113,857,491 6,618,687 — 171,632,558 Intangible assets 149,947 28,673,801 1,201,186 — 30,024,934 Mexican Government Bonds 63,653,260 — — — 63,653,260 Other assets — 2,320,594 28,382,131 — 30,702,725 Total assets Ps. 1,975,920,200 Ps. 2,996,003,084 Ps. 885,143,927 Ps. (3,611,509,167) Ps. 2,245,558,044 Liabilities Current liabilities Current portion of long-term debt Ps. 398,101,726 Ps. 20,438,040 Ps. 47,407,917 Ps. — Ps. 465,947,683 Accounts payable—inter-company 1,423,626,118 1,293,390,155 86,538,902 (2,803,555,175) — Other current liabilities 31,085,188 346,977,135 85,727,252 — 463,789,575 Total current liabilities 1,852,813,032 1,660,805,330 219,674,071 (2,803,555,175) 929,737,258 Long-term debt 1,573,359,790 22,496,110 29,660,413 — 1,625,516,313 Long-term payables—inter-company — 1,511,403,321 1,445,177 (1,512,848,498) — Employee benefits, provisions for sundry creditors, other liabilities and deferred taxes 318,280,995 1,124,420,120 16,425,583 — 1,459,126,698 Total liabilities 3,744,453,817 4,319,124,881 267,205,244 (4,316,403,673) 4,014,380,269 Equity (deficit), net (1,768,533,617) (1,323,121,797) 617,938,683 704,894,506 (1,768,822,225) Total liabilities and equity Ps. 1,975,920,200 Ps. 2,996,003,084 Ps. 885,143,927 Ps. (3,611,509,167) Ps. 2,245,558,044 |
Supplemental Statement of Comprehensive Income | SUPPLEMENTAL CONDENSED CONSOLIDATING FINANCIAL INFORMATION STATEMENT OF COMPREHENSIVE INCOME For the six-month period ended June 30, 2023 Petróleos Subsidiary Non-guarantor Eliminations PEMEX Net revenues Ps. — Ps. 964,612,744 Ps. 535,421,693 Ps. (669,541,501) Ps. 830,492,936 Services income 45,035,270 58,406,395 8,823,442 (110,162,204) 2,102,903 Total revenues 45,035,270 1,023,019,139 544,245,135 (779,703,705) 832,595,839 (Impairment) of wells, pipelines, properties, plant and equipment — (66,084,491) — — (66,084,491) Cost of sales 460,531 842,537,312 523,106,568 (733,559,272) 632,545,139 Gross income 44,574,739 114,397,336 21,138,567 (46,144,433) 133,966,209 Total general expenses 38,149,619 89,782,055 5,019,445 (45,977,299) 86,973,820 Other revenues (expenses), net 632,971 6,831,617 1,864,792 170,720 9,500,100 Operating income 7,058,091 31,446,898 17,983,914 3,586 56,492,489 Financing cost, net (29,017,169) (31,880,276) (2,866,917) (3,585) (63,767,947) Foreign exchange income (loss), net (10,448,807) 236,709,116 4,415,823 — 230,676,132 Profit (loss) sharing in joint ventures and associates 113,450,915 2,500,777 31,397,239 (147,196,962) 151,969 Income (loss) before duties, taxes and other 81,043,030 238,776,515 50,930,059 (147,196,961) 223,552,643 Total taxes, duties and other (1,147,993) 141,775,172 766,309 — 141,393,488 Net income for the year 82,191,023 97,001,343 50,163,750 (147,196,961) 82,159,155 Total other comprehensive result (52,255,383) — (52,255,383) Total comprehensive income (loss) Ps. 82,191,023 Ps. 97,001,343 Ps. (2,091,633) Ps. (147,196,961) Ps. 29,903,772 SUPPLEMENTAL CONDENSED CONSOLIDATING FINANCIAL INFORMATION STATEMENT OF COMPREHENSIVE INCOME For the six-month period ended June 30, 2022 Petróleos Subsidiary Non-guarantor Eliminations PEMEX Net revenues Ps. — Ps. 1,443,712,261 Ps. 721,806,074 Ps. (931,687,998) Ps. 1,233,830,337 Services income 38,006,945 45,227,103 6,979,448 (86,945,780) 3,267,716 Total revenues 38,006,945 1,488,939,364 728,785,522 (1,018,633,778) 1,237,098,053 (Impairment) of wells, pipelines, properties, plant and equipment — 63,845,672 282,438 — 64,128,110 Cost of sales 557,103 1,077,349,334 702,287,493 (981,395,847) 798,798,083 Gross income 37,449,842 475,435,702 26,780,467 (37,237,931) 502,428,080 Total general expenses 35,617,276 76,863,490 5,908,946 (37,168,849) 81,220,863 Other revenues (expenses), net (139,960) 4,115,267 16,575,719 82,442 20,633,468 Operating income 1,692,606 402,687,479 37,447,240 13,360 441,840,685 Financing cost, net (20,819,565) (45,890,002) (4,728,572) (13,359) (71,451,498) Foreign exchange income (loss), net (2,072,184) 82,984,658 537,697 — 81,450,171 Profit (loss) sharing in joint ventures and associates 267,989,641 (63,898) 59,705,752 (327,470,347) 161,148 Income (loss) before duties, taxes and other 246,790,498 439,718,237 92,962,117 (327,470,346) 452,000,506 Total taxes, duties and other (1,126,984) 206,112,571 (634,188) — 204,351,399 Net income for the year 247,917,482 233,605,666 93,596,305 (327,470,346) 247,649,107 Total other comprehensive result 35,179,430 123,195,199 (19,137,957) — 139,236,672 Total comprehensive income (loss) Ps. 283,096,912 Ps. 356,800,865 Ps. 74,458,348 Ps. (327,470,346) Ps. 386,885,779 |
Supplemental Statement of Cash Flows | SUPPLEMENTAL CONDENSED CONSOLIDATING FINANCIAL INFORMATION STATEMENT OF CASH FLOWS For the six-month period ended June 30, 2023 Petróleos Subsidiary Non-guarantor Eliminations PEMEX consolidated Operating activities: Net income (loss) Ps. 82,191,023 Ps. 97,001,343 Ps. 50,163,750 Ps. (147,196,961) Ps. 82,159,155 Income taxes and duties (1,147,993) 141,775,172 766,309 — 141,393,488 Depreciation and amortization of wells, pipelines, properties, plant and equipment 283,832 54,269,423 2,237,923 — 56,791,178 Amortization of intangible assets 148,197 10,213 37,686 — 196,096 Impairment of wells, pipelines, properties, plant and equipment — 66,084,491 — — 66,084,491 Capitalized unsuccessful wells — 1,437,971 — — 1,437,971 Unsuccessful wells from intangible assets — 15,667,953 — — 15,667,953 Loss from derecognition of disposal of wells, pipelines, properties, plant and equipment 14 1,266,601 2,188,331 — 3,454,946 Depreciation of rights of use 294,821 1,912,430 178,326 — 2,385,577 Cancellation of leases (124,191) — 1,512 — (122,679) Discount rate of reserve for well abandonment — 2,024,600 — — 2,024,600 Loss (profit) sharing in joint ventures and associates (113,450,915) (2,001,116) (29,884,071) 145,184,133 (151,969) Unrealized foreign exchange loss (income) (190,694,401) (15,016,726) (7,084,940) — (212,796,067) Interest expense 65,163,379 6,312,376 3,305,062 — 74,780,817 Interest income (5,953,863) (1,679,381) (591,287) — (8,224,531) Duties and taxes 370,291 (91,561,760) (1,820,648) — (93,012,117) Accounts receivable, inventories, accounts payable, DFIs and provisions 6,637,569 32,450,467 (26,722,671) — 12,365,365 Employee benefits 8,076,244 21,866,558 28,910 — 29,971,712 Inter-company charges and deductions (27,299,944) 33,634,743 40,121,439 (46,456,238) — Cash flows from (used in) operating activities (175,505,937) 365,455,358 32,925,631 (48,469,066) 174,405,986 Investing activities: Acquisition of wells, pipelines, properties, plant and equipment and intangible assets (671,888) (102,774,574) (35,080,639) — (138,527,101) Other assets and other receivables 1,287,803 1,965,057 8,475,608 — 11,728,468 (Increase) decrease due to Inter-company investing 243,312,338 — 260,838 (243,573,176) — Cash flows (used in) from investing activities 243,928,253 (100,809,517) (26,344,193) (243,573,176) (126,798,633) Financing activities: Increase in equity due to Certificates of Contribution “A” 17,700,000 — — — 17,700,000 Collection and interest collected from the Mexican Government 32,449,191 — — — 32,449,191 Lease payments of principal and interest (331,046) (3,243,395) (400,933) — (3,975,374) Loans obtained from financial institutions 186,742,632 16,948,432 227,968,789 — 431,659,853 Debt payments, principal only (184,323,260) (21,434,858) (231,080,707) — (436,838,825) Interest paid (70,713,213) (4,838,220) 541,505 — (75,009,928) Inter-company increase (decrease) financing (51,305,719) (250,335,004) 9,598,481 292,042,242 — Net cash flows from (used in) financing activities: (69,781,415) (262,903,045) 6,627,135 292,042,242 (34,015,083) Net increase (decrease) in cash and cash equivalents (1,359,099) 1,742,796 13,208,573 — 13,592,270 Effects of foreign exchange on cash balances — — (13,891,581) — (13,891,581) Cash and cash equivalents at the beginning of the year 14,809,052 11,293,133 38,312,326 — 64,414,511 Cash and cash equivalents at the end of the year Ps. 13,449,953 Ps. 13,035,929 Ps. 37,629,318 Ps. — Ps. 64,115,200 SUPPLEMENTAL CONDENSED CONSOLIDATING FINANCIAL INFORMATION STATEMENT OF CASH FLOWS For the six-month period ended June 30, 2022 Petróleos Subsidiary Non-guarantor Eliminations PEMEX Operating activities: Net income Ps. 247,917,481 Ps. 233,605,670 Ps. 93,596,303 Ps. (327,470,347) Ps. 247,649,107 Income taxes and duties (1,126,984) 206,112,571 (634,188) — 204,351,399 Depreciation and amortization of wells, pipelines, properties, plant and equipment 282,795 65,843,669 3,287,529 — 69,413,993 Amortization of intangible assets 90,962 11,315 27,338 — 129,615 Impairment (reversal of impairment) of wells, pipelines, properties, plant and equipment — (63,845,672) (282,438) — (64,128,110) Capitalized unsuccessful wells — 6,716,632 — — 6,716,632 Unsuccessful wells from intangible assets — 4,539,894 — — 4,539,894 Loss from derecognition of disposal of wells, pipelines, properties, plant and equipment 370,097 724,903 919,611 — 2,014,611 Depreciation of rights of use 33,486 2,366,899 394,837 — 2,795,222 (Gains) on bargain purchase of business acquisition — — (1,271,188) — (1,271,188) Reclassification of translation effect — — (10,383,296) — (10,383,296) Unrealized foreign exchange loss of reserve for well abandonment — 1,614,548 — — 1,614,548 (Profit) sharing in joint ventures and associates, net (330,165,023) (2,227) (158,921) 330,165,023 (161,148) Unrealized foreign exchange (income) (73,703,064) (4,295,069) (2,030,093) — (80,028,226) Interest expense 59,059,878 3,265,559 1,921,618 — 64,247,055 Interest income (5,876,560) (11,383,187) (44,963) — (17,304,710) Duties and taxes (10,851,498) (193,586,129) 837,675 — (203,599,952) Accounts receivable, inventories, accounts payable, DFIs and provisions 60,410,925 (65,380,653) (73,693,349) — (78,663,077) Employee benefits 11,840,994 17,460,537 38,577 — 29,340,108 Inter-company charges and deductions 668,386,708 (201,809,802) 15,295,044 (481,871,950) — Cash flows from (used in) operating activities 626,670,197 1,959,458 27,820,096 (479,177,274) 177,272,477 Investing activities: Acquisition of wells, pipelines, properties, plant and equipment and intangible assets (305,827) (93,002,643) (45,871,778) — (139,180,248) Other assets and other receivables 710,592 1,795,627 (43,101,317) — (40,595,098) (Increase) decrease due to Inter-company investing 47,828,170 — 300,081 (48,128,251) — Cash flows (used in) from investing activities 48,232,935 (91,207,016) (88,673,014) (48,128,251) (179,775,346) Financing activities: Increase in equity due to Certificates of Contribution “A” and proceeds from FONADIN grants 113,437,539 — — — 113,437,539 Collection and interest collected from the Mexican Government 3,411,432 — — — 3,411,432 Lease payments of principal and interest (200,877) (4,797,046) (398,194) — (5,396,117) Loans obtained from financial institutions 166,249,869 — 349,427,981 — 515,677,850 Debt payments, principal only (212,579,746) (15,559,285) (337,462,598) — (565,601,629) Interest paid (64,812,821) (2,033,767) (209,615) — (67,056,203) Inter-company increase (decrease) financing (697,735,211) 118,779,986 51,649,700 527,305,525 — Net cash flows from (used in) financing activities: (692,229,815) 96,389,888 63,007,274 527,305,525 (5,527,128) Net increase (decrease) in cash and cash equivalents (17,326,683) 7,142,330 2,154,356 — (8,029,997) Effects of foreign exchange on cash balances — — (3,544,233) — (3,544,233) Cash and cash equivalents at the beginning of the year 34,690,405 6,157,869 35,658,173 — 76,506,447 Cash and cash equivalents at the end of the year Ps. 17,363,722 Ps. 13,300,199 Ps. 34,268,296 Ps. — Ps. 64,932,217 |
Authorization and Basis of Pr_2
Authorization and Basis of Preparation - Additional Information (Detail) | 6 Months Ended | 12 Months Ended |
Jun. 30, 2023 | Dec. 31, 2022 | |
Disclosure of basis of preparation [Abstract] | ||
Employee benefits provision | 35% | 33% |
Subsidiary Entities and Subsi_2
Subsidiary Entities and Subsidiary Companies - Additional Information (Detail) | 6 Months Ended |
Jun. 30, 2023 | |
Disclosure of subsidiaries [line items] | |
Proportion of ownership interest held | 100% |
PMI CIM | |
Disclosure of subsidiaries [line items] | |
Proportion of voting rights held in subsidiary | 98.33% |
COMESA | |
Disclosure of subsidiaries [line items] | |
Proportion of voting rights held in subsidiary | 60% |
Segment Financial Information -
Segment Financial Information - Additional Information (Detail) | 6 Months Ended |
Jun. 30, 2023 segment customer | |
Disclosure of operating segments [abstract] | |
Number of business segments | segment | 7 |
Number of major customers | customer | 16 |
Segment Financial Information_2
Segment Financial Information - Condensed Financial Information of Segments after Elimination of Unrealized Intersegment Gain (Loss) (Detail) - MXN ($) $ in Thousands | 3 Months Ended | 6 Months Ended | |||||
Jun. 30, 2023 | Jun. 30, 2022 | Jun. 30, 2023 | Jun. 30, 2022 | Dec. 31, 2022 | Dec. 31, 2021 | ||
Revenues: | |||||||
Trade | $ 412,579,540 | $ 718,700,884 | $ 830,492,936 | $ 1,233,830,337 | |||
Services income | 1,577,316 | 1,076,640 | 2,102,903 | 3,267,716 | |||
(Impairment) reversal of impairment of wells, pipelines, properties, plant and equipment, net | (25,947,103) | 47,787,490 | (66,084,491) | 64,128,110 | |||
Cost of sales | 328,562,776 | 473,350,048 | 632,545,139 | 798,798,083 | |||
Gross income | 59,646,977 | 294,214,966 | 133,966,209 | 502,428,080 | |||
Distribution, transportation and sale expenses | 2,911,297 | 3,413,823 | 7,489,355 | 6,722,846 | |||
Administrative expenses | 39,249,329 | 36,487,629 | 79,484,465 | 74,498,017 | |||
Other revenue | 5,973,794 | 4,333,794 | 12,170,448 | 24,072,792 | |||
Other expenses | 1,943,755 | 1,257,452 | 2,670,348 | 3,439,324 | |||
Operating income (loss) | 21,516,390 | 257,389,856 | 56,492,489 | 441,840,685 | |||
Financing income | [1] | 2,209,379 | 4,290,268 | 8,224,531 | 17,304,710 | ||
Financing cost | [2] | 36,605,455 | 34,740,755 | 74,780,817 | 64,247,055 | ||
Derivative financial instruments income (cost), net | 2,489,947 | (16,757,949) | 2,788,339 | (24,509,153) | |||
Foreign exchange income, net | 105,359,430 | 19,648,210 | 230,676,132 | 81,450,171 | |||
Profit sharing in joint ventures and associates | 42,013 | 97,142 | 151,969 | 161,148 | |||
Total duties, taxes and other | 69,588,325 | 104,771,366 | 141,393,488 | 204,351,399 | |||
Net income | 25,423,379 | 125,155,406 | 82,159,155 | 247,649,107 | |||
Depreciation and amortization of wells, pipelines, properties, plant and equipment | 28,735,620 | 36,270,500 | 56,791,178 | 69,413,993 | |||
Depreciation of rights of use | 1,077,918 | 1,302,353 | 2,385,577 | 2,795,222 | |||
Net periodic cost of employee benefits | 33,582,053 | 30,586,009 | 66,972,522 | 63,601,259 | |||
Interest income | 2,830,294 | 1,620,639 | 7,332,811 | 4,732,095 | |||
Interest cost | 34,541,093 | 33,835,177 | 69,310,697 | 66,627,850 | |||
Total current assets | 478,711,811 | 478,711,811 | $ 527,894,778 | ||||
Total non-current assets | 1,647,207,061 | 1,647,207,061 | 1,717,663,266 | ||||
Total current liabilities | 995,869,299 | 995,869,299 | 929,737,258 | ||||
Total non-current liabilities | 2,851,268,026 | 2,851,268,026 | 3,084,643,011 | ||||
Total equity (deficit) | (1,721,218,453) | (1,669,677,465) | (1,721,218,453) | (1,669,677,465) | (1,768,822,225) | $ (2,170,000,783) | |
Intersegment eliminations | |||||||
Revenues: | |||||||
Intersegment | (380,886,122) | (610,570,200) | (779,703,705) | (1,018,633,781) | |||
Cost of sales | (355,485,478) | (588,950,507) | (733,559,272) | (981,395,848) | |||
Gross income | (25,400,644) | (21,619,693) | (46,144,433) | (37,237,933) | |||
Distribution, transportation and sale expenses | (1,275,636) | (1,144,499) | (2,635,132) | (2,147,372) | |||
Administrative expenses | (23,727,740) | (20,404,739) | (43,342,167) | (35,021,478) | |||
Other expenses | (406,396) | (87,419) | (170,719) | (82,443) | |||
Operating income (loss) | 9,128 | 16,964 | 3,585 | 13,360 | |||
Financing income | (54,298,483) | (55,682,480) | (111,697,161) | (110,799,674) | |||
Financing cost | (54,289,355) | (55,665,519) | (111,693,576) | (110,786,315) | |||
Profit sharing in joint ventures and associates | (48,006,030) | (158,392,970) | (147,196,962) | (327,470,346) | |||
Total duties, taxes and other | 0 | ||||||
Net income | (48,006,030) | (158,392,967) | (147,196,962) | (327,470,345) | |||
Total current assets | (2,738,295,753) | (2,738,295,753) | (2,825,188,933) | ||||
Total non-current assets | (662,359,293) | (662,359,293) | (807,795,310) | ||||
Total current liabilities | (2,738,225,461) | (2,738,225,461) | (2,825,030,251) | ||||
Total non-current liabilities | (1,322,868,236) | (1,322,868,236) | (1,512,848,498) | ||||
Total equity (deficit) | 660,438,651 | 660,438,651 | 704,894,507 | ||||
Exploration and Production | |||||||
Revenues: | |||||||
Trade | 110,946,624 | 176,402,007 | 210,208,695 | 308,298,472 | |||
Intersegment | 119,412,979 | 202,242,892 | 243,185,733 | 374,019,724 | |||
Services income | 6,419 | 45,833 | 13,179 | 55,992 | |||
(Impairment) reversal of impairment of wells, pipelines, properties, plant and equipment, net | (18,867,771) | 9,990,163 | (59,536,095) | 21,547,474 | |||
Cost of sales | 121,795,236 | 154,405,392 | 225,377,034 | 280,517,474 | |||
Gross income | 89,703,015 | 234,275,503 | 168,494,478 | 423,404,188 | |||
Distribution, transportation and sale expenses | 148,578 | 95,812 | 316,937 | 226,909 | |||
Administrative expenses | 19,585,824 | 17,086,738 | 36,044,430 | 31,412,215 | |||
Other revenue | 702,841 | 1,152,714 | 1,567,552 | 3,484,143 | |||
Other expenses | 1,744,962 | 691,951 | 2,399,104 | 2,264,706 | |||
Operating income (loss) | 68,926,492 | 217,553,716 | 131,301,559 | 392,984,501 | |||
Financing income | 13,880,957 | 17,205,283 | 30,052,525 | 44,686,370 | |||
Financing cost | 28,815,708 | 30,858,509 | 61,914,236 | 59,434,819 | |||
Derivative financial instruments income (cost), net | 3,050,956 | (15,003,046) | 7,277,345 | (20,621,361) | |||
Foreign exchange income, net | 54,114,570 | 15,945,048 | 120,010,658 | 74,693,931 | |||
Profit sharing in joint ventures and associates | (36,963) | (111,041) | (36,008) | (405,548) | |||
Total duties, taxes and other | 65,582,750 | 113,131,952 | 137,788,248 | 208,691,330 | |||
Net income | 45,537,554 | 91,599,499 | 88,903,595 | 223,211,744 | |||
Depreciation and amortization of wells, pipelines, properties, plant and equipment | 23,246,437 | 29,691,333 | 45,405,980 | 56,101,453 | |||
Depreciation of rights of use | 43,680 | 16,230 | 113,458 | 186,043 | |||
Net periodic cost of employee benefits | 9,374,176 | 8,578,072 | 18,748,351 | 17,814,976 | |||
Interest income | 47,401 | 37,475 | 89,075 | 69,819 | |||
Interest cost | (76,444) | 44,344 | (225,250) | 144,764 | |||
Total current assets | 843,095,989 | 843,095,989 | 915,532,623 | ||||
Total non-current assets | 842,714,333 | 842,714,333 | 886,317,756 | ||||
Total current liabilities | 503,725,524 | 503,725,524 | 519,212,766 | ||||
Total non-current liabilities | 1,779,099,360 | 1,779,099,360 | 1,968,555,771 | ||||
Total equity (deficit) | (597,014,562) | (597,014,562) | (685,918,158) | ||||
Industrial Transformation | |||||||
Revenues: | |||||||
Trade | 178,768,338 | 372,336,628 | 391,599,929 | 618,726,186 | |||
Intersegment | 60,765,403 | 81,438,009 | 122,295,916 | 145,380,711 | |||
Services income | 121,522 | 240,376 | 164,645 | 542,874 | |||
(Impairment) reversal of impairment of wells, pipelines, properties, plant and equipment, net | (7,079,332) | 36,040,099 | (6,548,396) | 40,823,408 | |||
Cost of sales | 277,734,654 | 452,943,152 | 577,117,863 | 767,234,738 | |||
Gross income | (45,158,723) | 37,111,960 | (69,605,769) | 38,238,441 | |||
Distribution, transportation and sale expenses | 3,985,661 | 4,143,250 | 9,571,998 | 7,989,966 | |||
Administrative expenses | 17,219,109 | 14,507,399 | 33,205,975 | 28,375,029 | |||
Other revenue | 2,843,993 | 1,790,925 | 6,675,653 | 3,063,566 | |||
Other expenses | (765) | 262,533 | 19,848 | 375,144 | |||
Operating income (loss) | (63,518,735) | 19,989,703 | (105,727,937) | 4,561,868 | |||
Financing income | 348,807 | 105,124 | 559,823 | 164,570 | |||
Financing cost | 9,588,288 | 8,145,452 | 17,221,094 | 15,457,118 | |||
Derivative financial instruments income (cost), net | 174,753 | (11,554) | 390,478 | (10,391) | |||
Foreign exchange income, net | 55,403,887 | 4,611,961 | 116,517,971 | 8,282,488 | |||
Profit sharing in joint ventures and associates | 1,398,321 | 62,323 | 2,536,741 | 341,643 | |||
Net income | (15,781,255) | 16,612,105 | (2,944,018) | (2,116,940) | |||
Depreciation and amortization of wells, pipelines, properties, plant and equipment | 2,695,759 | 3,271,172 | 5,706,197 | 6,770,498 | |||
Depreciation of rights of use | 811,153 | 931,013 | 1,587,118 | 1,862,027 | |||
Net periodic cost of employee benefits | 13,702,260 | 12,600,962 | 27,211,126 | 25,952,724 | |||
Interest income | 329,116 | 104,695 | 485,865 | 164,090 | |||
Interest cost | 847,327 | 903,139 | 1,725,577 | 2,062,076 | |||
Total current assets | 244,095,842 | 244,095,842 | 296,527,986 | ||||
Total non-current assets | 493,465,218 | 493,465,218 | 502,433,210 | ||||
Total current liabilities | 1,052,497,596 | 1,052,497,596 | 1,078,322,279 | ||||
Total non-current liabilities | 617,484,028 | 617,484,028 | 614,563,455 | ||||
Total equity (deficit) | (932,420,564) | (932,420,564) | (893,924,538) | ||||
Logistics | |||||||
Revenues: | |||||||
Intersegment | 29,994,502 | 22,608,212 | 54,666,766 | 41,159,889 | |||
Services income | 938,914 | 332,289 | 884,275 | 755,518 | |||
(Impairment) reversal of impairment of wells, pipelines, properties, plant and equipment, net | 1,474,790 | 1,474,790 | |||||
Cost of sales | 21,622,942 | 15,967,750 | 40,042,416 | 29,597,122 | |||
Gross income | 9,310,474 | 8,447,541 | 15,508,625 | 13,793,075 | |||
Distribution, transportation and sale expenses | 76,746 | 43,281 | 124,281 | 59,280 | |||
Administrative expenses | 5,279,115 | 4,443,379 | 10,518,433 | 8,800,091 | |||
Other revenue | 973,245 | 162,645 | 1,008,815 | 177,347 | |||
Other expenses | 444,794 | (21,840) | 1,451 | (30,061) | |||
Operating income (loss) | 4,483,064 | 4,145,366 | 5,873,275 | 5,141,112 | |||
Financing income | 4,552,787 | 2,744,749 | 9,175,301 | 5,079,505 | |||
Financing cost | 118,058 | 143,080 | 200,419 | 296,757 | |||
Foreign exchange income, net | 106,473 | 16,825 | 180,487 | 8,240 | |||
Profit sharing in joint ventures and associates | 44 | (1,121) | 44 | 6 | |||
Total duties, taxes and other | 3,920,277 | (6,814,141) | 3,986,924 | (2,578,759) | |||
Net income | 5,104,033 | 13,576,880 | 11,041,764 | 12,510,865 | |||
Depreciation and amortization of wells, pipelines, properties, plant and equipment | 1,552,736 | 1,489,959 | 3,157,246 | 2,971,718 | |||
Depreciation of rights of use | 115,262 | 144,078 | 211,854 | 318,829 | |||
Net periodic cost of employee benefits | 2,174,632 | 1,790,501 | 4,349,264 | 4,009,029 | |||
Interest income | (2,874) | (746) | 32,888 | ||||
Interest cost | 118,004 | 151,231 | 199,954 | 300,178 | |||
Total current assets | 274,576,032 | 274,576,032 | 251,070,455 | ||||
Total non-current assets | 155,495,584 | 155,495,584 | 160,667,832 | ||||
Total current liabilities | 84,161,480 | 84,161,480 | 79,817,063 | ||||
Total non-current liabilities | 78,146,459 | 78,146,459 | 75,200,326 | ||||
Total equity (deficit) | 267,763,677 | 267,763,677 | 256,720,899 | ||||
DPRLP | |||||||
Revenues: | |||||||
Trade | 43,120,554 | 74,122,078 | 81,871,944 | 126,668,052 | |||
Intersegment | 587,387 | 16,063,587 | 6,247,343 | 8,413,658 | |||
Services income | (222) | (10,005) | 0 | 837,375 | |||
Cost of sales | 41,697,687 | 78,458,043 | 80,669,955 | 120,070,610 | |||
Gross income | 2,010,032 | 11,717,617 | 7,449,332 | 15,848,475 | |||
Administrative expenses | 150,244 | 508,132 | 376,269 | 508,938 | |||
Other revenue | 9,590 | (37,434) | 13,848 | 3,133,094 | |||
Other expenses | 137,247 | 275,190 | 0 | ||||
Operating income (loss) | 1,732,131 | 11,172,051 | 6,811,721 | 18,472,631 | |||
Financing income | 204,983 | 342,625 | |||||
Financing cost | 38,100 | 90,462 | 79,092 | 214,475 | |||
Total duties, taxes and other | 56,177 | 0 | 68,655 | 0 | |||
Net income | 1,842,837 | 11,081,589 | 7,006,599 | 18,258,156 | |||
Depreciation and amortization of wells, pipelines, properties, plant and equipment | 494,220 | 1,100,491 | 1,056,479 | 2,147,037 | |||
Depreciation of rights of use | (135,604) | ||||||
Interest income | 101,007 | 184,924 | |||||
Interest cost | 38,100 | 214,475 | 79,092 | 214,475 | |||
Total current assets | 29,017,242 | 29,017,242 | 31,935,985 | ||||
Total non-current assets | 27,365,605 | 27,365,605 | 32,675,568 | ||||
Total current liabilities | 7,644,001 | 7,644,001 | 10,287,103 | ||||
Total non-current liabilities | 3,940,414 | 3,940,414 | 4,153,387 | ||||
Total equity (deficit) | 44,798,432 | 44,798,432 | 50,171,062 | ||||
Trading Companies | |||||||
Revenues: | |||||||
Trade | 73,435,364 | 90,954,226 | 136,828,605 | 169,781,579 | |||
Intersegment | 132,348,619 | 243,866,576 | 281,288,494 | 379,281,826 | |||
Services income | 502,541 | 464,770 | 1,012,550 | 1,069,040 | |||
(Impairment) reversal of impairment of wells, pipelines, properties, plant and equipment, net | 282,438 | 282,438 | |||||
Cost of sales | 203,398,658 | 334,450,072 | 409,704,279 | 541,457,523 | |||
Gross income | 2,887,866 | 1,117,938 | 9,425,370 | 8,957,360 | |||
Distribution, transportation and sale expenses | (25,611) | 257,652 | 54,240 | 558,584 | |||
Administrative expenses | 763,313 | 753,675 | 1,278,091 | 1,410,341 | |||
Other revenue | 150,105 | 144,191 | 363,057 | 10,580,467 | |||
Other expenses | 19,922 | 411,970 | 140,995 | 540,935 | |||
Operating income (loss) | 2,280,347 | (161,168) | 8,315,101 | 17,027,967 | |||
Financing income | 108,226 | 135,093 | 206,440 | 222,582 | |||
Financing cost | 1,241,563 | 768,596 | 2,560,933 | 1,397,534 | |||
Derivative financial instruments income (cost), net | (268,857) | (1,476,609) | (174,255) | (2,930,121) | |||
Foreign exchange income, net | 32,713 | (64,713) | 67,687 | (146,636) | |||
Profit sharing in joint ventures and associates | 3,121,162 | 10,085,425 | 12,703,617 | 18,885,053 | |||
Total duties, taxes and other | 335,393 | (499,450) | 401,312 | (722,559) | |||
Net income | 3,696,635 | 8,248,882 | 18,156,345 | 32,383,870 | |||
Depreciation and amortization of wells, pipelines, properties, plant and equipment | 67,644 | 92,774 | 149,289 | 184,256 | |||
Depreciation of rights of use | 60,417 | 175,734 | 122,344 | 358,045 | |||
Net periodic cost of employee benefits | 459 | (1,378) | 2,051 | 875 | |||
Interest income | 29,474 | 8,243 | 40,456 | 27,615 | |||
Interest cost | 1,031,926 | 651,075 | 2,147,091 | 1,226,182 | |||
Total current assets | 200,879,944 | 200,879,944 | 208,042,447 | ||||
Total non-current assets | 99,590,366 | 99,590,366 | 104,756,605 | ||||
Total current liabilities | 152,008,082 | 152,008,082 | 163,897,630 | ||||
Total non-current liabilities | 330,424 | 330,424 | 513,730 | ||||
Total equity (deficit) | 148,131,804 | 148,131,804 | 148,387,691 | ||||
Corporate | |||||||
Revenues: | |||||||
Intersegment | 24,362,588 | 21,491,009 | 45,034,813 | 38,006,417 | |||
Services income | 225 | 221 | 457 | 528 | |||
Cost of sales | 315,117 | 306,429 | 460,531 | 557,103 | |||
Gross income | 24,047,696 | 21,184,801 | 44,574,739 | 37,449,842 | |||
Distribution, transportation and sale expenses | (17,883) | (5,308) | 16,959 | (3,187) | |||
Administrative expenses | 18,450,331 | 17,435,165 | 38,132,660 | 35,620,463 | |||
Other revenue | 568,126 | 99,443 | 633,924 | 230,142 | |||
Other expenses | 952 | 62 | 952 | 370,102 | |||
Operating income (loss) | 6,182,422 | 3,854,325 | 7,058,092 | 1,692,606 | |||
Financing income | 37,157,911 | 39,675,983 | 78,981,548 | 77,818,150 | |||
Financing cost | 50,473,637 | 50,092,918 | 103,293,487 | 97,690,436 | |||
Derivative financial instruments income (cost), net | (466,905) | (266,740) | (4,705,229) | (947,280) | |||
Foreign exchange income, net | (6,566,620) | (548,431) | (10,448,807) | (2,072,184) | |||
Profit sharing in joint ventures and associates | 39,013,523 | 131,492,618 | 113,450,915 | 267,989,641 | |||
Total duties, taxes and other | (592,463) | (1,126,984) | (1,147,993) | (1,126,984) | |||
Net income | 25,439,157 | 125,241,821 | 82,191,025 | 247,917,481 | |||
Depreciation and amortization of wells, pipelines, properties, plant and equipment | 132,626 | 134,641 | 283,832 | 282,795 | |||
Depreciation of rights of use | 147,410 | 16,743 | 294,821 | 33,486 | |||
Net periodic cost of employee benefits | 8,319,364 | 7,607,346 | 16,638,728 | 15,802,644 | |||
Interest income | 2,178,823 | 1,425,746 | 6,133,697 | 4,453,222 | |||
Interest cost | 32,008,505 | 31,596,305 | 64,305,915 | 62,203,369 | |||
Total current assets | 1,520,298,659 | 1,520,298,659 | 1,548,257,534 | ||||
Total non-current assets | 291,681,281 | 291,681,281 | 431,460,970 | ||||
Total current liabilities | 1,884,684,765 | 1,884,684,765 | 1,856,611,334 | ||||
Total non-current liabilities | 1,648,187,493 | 1,648,187,493 | 1,891,640,785 | ||||
Total equity (deficit) | (1,720,892,318) | (1,720,892,318) | (1,768,533,615) | ||||
Other Operating Subsidiary Companies | |||||||
Revenues: | |||||||
Trade | 6,308,660 | 4,885,945 | 9,983,763 | 10,356,048 | |||
Intersegment | 13,414,644 | 22,859,915 | 26,984,640 | 32,371,556 | |||
Services income | 7,917 | 3,156 | 27,797 | 6,389 | |||
Cost of sales | 17,483,960 | 25,769,717 | 32,732,333 | 40,759,361 | |||
Gross income | 2,247,261 | 1,979,299 | 4,263,867 | 1,974,632 | |||
Distribution, transportation and sale expenses | 19,442 | 23,635 | 40,072 | 38,666 | |||
Administrative expenses | 1,529,133 | 2,157,880 | 3,270,774 | 3,392,418 | |||
Other revenue | 725,894 | 1,021,310 | 1,907,599 | 3,404,033 | |||
Other expenses | 3,039 | 195 | 3,527 | 941 | |||
Operating income (loss) | 1,421,541 | 818,899 | 2,857,093 | 1,946,640 | |||
Financing income | 254,191 | 106,516 | 603,430 | 133,207 | |||
Financing cost | 619,456 | 307,257 | 1,205,132 | 542,231 | |||
Foreign exchange income, net | 2,268,407 | (312,480) | 4,348,136 | 684,332 | |||
Profit sharing in joint ventures and associates | 4,551,956 | 16,961,908 | 18,693,622 | 40,820,699 | |||
Total duties, taxes and other | 286,191 | 79,989 | 296,342 | 88,371 | |||
Net income | 7,590,448 | 17,187,597 | 25,000,807 | 42,954,276 | |||
Depreciation and amortization of wells, pipelines, properties, plant and equipment | 546,198 | 490,130 | 1,032,155 | 956,236 | |||
Depreciation of rights of use | 35,600 | 18,555 | 55,982 | 36,792 | |||
Net periodic cost of employee benefits | 11,162 | 10,506 | 23,002 | 21,011 | |||
Interest income | 147,347 | 45,226 | 365,906 | 17,349 | |||
Interest cost | 573,675 | $ 274,608 | 1,078,318 | $ 476,806 | |||
Total current assets | 105,043,856 | 105,043,856 | 101,716,681 | ||||
Total non-current assets | 399,253,967 | 399,253,967 | 407,146,635 | ||||
Total current liabilities | 49,373,312 | 49,373,312 | 46,619,334 | ||||
Total non-current liabilities | 46,948,084 | 46,948,084 | 42,864,055 | ||||
Total equity (deficit) | $ 407,976,427 | $ 407,976,427 | $ 419,379,927 | ||||
[1]Includes financing income from investments and gain on discount rate of plugging of wells in 2023 and 2022.[2]Mainly interest on debt. |
Revenue - Schedule of Revenue D
Revenue - Schedule of Revenue Disaggregation (Detail) - MXN ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2023 | Jun. 30, 2022 | Jun. 30, 2023 | Jun. 30, 2022 | |
Disclosure of disaggregation of revenue from contracts with customers [line items] | ||||
Total | $ 414,156,856 | $ 719,777,524 | $ 832,595,839 | $ 1,237,098,053 |
Products transferred at a point in time | ||||
Disclosure of disaggregation of revenue from contracts with customers [line items] | ||||
Total | 460,478,639 | 700,841,398 | 821,106,642 | 1,206,654,008 |
Products and services transferred over the time | ||||
Disclosure of disaggregation of revenue from contracts with customers [line items] | ||||
Total | (46,321,783) | 18,936,126 | 11,489,197 | 30,444,045 |
Crude oil | ||||
Disclosure of disaggregation of revenue from contracts with customers [line items] | ||||
Total | 112,187,272 | 175,803,981 | 212,086,474 | 308,160,903 |
Gas | ||||
Disclosure of disaggregation of revenue from contracts with customers [line items] | ||||
Total | 23,240,355 | 66,253,922 | 51,436,880 | 119,096,703 |
Refined petroleum products | ||||
Disclosure of disaggregation of revenue from contracts with customers [line items] | ||||
Total | 195,168,085 | 373,727,720 | 475,384,272 | 645,842,580 |
Incentive for automotive fuels | ||||
Disclosure of disaggregation of revenue from contracts with customers [line items] | ||||
Total | (374) | 64,529,190 | 19,163 | 75,055,185 |
Other | ||||
Disclosure of disaggregation of revenue from contracts with customers [line items] | ||||
Total | 81,984,202 | 38,386,071 | 91,566,147 | 85,674,966 |
Services | ||||
Disclosure of disaggregation of revenue from contracts with customers [line items] | ||||
Total | 1,577,316 | 1,076,640 | 2,102,903 | 3,267,716 |
United States | ||||
Disclosure of disaggregation of revenue from contracts with customers [line items] | ||||
Total | 147,431,750 | 253,111,244 | 287,716,547 | 460,106,192 |
Other | ||||
Disclosure of disaggregation of revenue from contracts with customers [line items] | ||||
Total | 25,564,143 | 47,380,171 | 45,064,904 | 75,261,757 |
Europe | ||||
Disclosure of disaggregation of revenue from contracts with customers [line items] | ||||
Total | 20,677,314 | 19,281,500 | 36,470,535 | 36,201,810 |
Local | ||||
Disclosure of disaggregation of revenue from contracts with customers [line items] | ||||
Total | 220,484,023 | 335,475,419 | 463,324,690 | 590,473,109 |
Incentive for automotive fuels | ||||
Disclosure of disaggregation of revenue from contracts with customers [line items] | ||||
Total | (374) | 64,529,190 | 19,163 | 75,055,185 |
Exploration and Production | ||||
Disclosure of disaggregation of revenue from contracts with customers [line items] | ||||
Total | 110,953,043 | 176,447,840 | 210,221,874 | 308,354,464 |
Exploration and Production | Products transferred at a point in time | ||||
Disclosure of disaggregation of revenue from contracts with customers [line items] | ||||
Total | 110,946,624 | 176,402,007 | 210,208,695 | 308,298,472 |
Exploration and Production | Products and services transferred over the time | ||||
Disclosure of disaggregation of revenue from contracts with customers [line items] | ||||
Total | 6,419 | 45,833 | 13,179 | 55,992 |
Exploration and Production | Crude oil | ||||
Disclosure of disaggregation of revenue from contracts with customers [line items] | ||||
Total | 110,912,923 | 176,349,089 | 210,131,099 | 308,160,903 |
Exploration and Production | Gas | ||||
Disclosure of disaggregation of revenue from contracts with customers [line items] | ||||
Total | 33,701 | 52,918 | 77,596 | 137,569 |
Exploration and Production | Services | ||||
Disclosure of disaggregation of revenue from contracts with customers [line items] | ||||
Total | 6,419 | 45,833 | 13,179 | 55,992 |
Exploration and Production | United States | ||||
Disclosure of disaggregation of revenue from contracts with customers [line items] | ||||
Total | 69,342,075 | 112,342,310 | 136,012,733 | 206,219,194 |
Exploration and Production | Other | ||||
Disclosure of disaggregation of revenue from contracts with customers [line items] | ||||
Total | 22,290,415 | 45,308,316 | 39,759,687 | 68,066,246 |
Exploration and Production | Europe | ||||
Disclosure of disaggregation of revenue from contracts with customers [line items] | ||||
Total | 18,818,524 | 18,698,464 | 33,896,770 | 33,875,463 |
Exploration and Production | Local | ||||
Disclosure of disaggregation of revenue from contracts with customers [line items] | ||||
Total | 502,029 | 98,750 | 552,684 | 193,561 |
Industrial Transformation | ||||
Disclosure of disaggregation of revenue from contracts with customers [line items] | ||||
Total | 178,889,860 | 372,577,004 | 391,764,574 | 619,269,060 |
Industrial Transformation | Products transferred at a point in time | ||||
Disclosure of disaggregation of revenue from contracts with customers [line items] | ||||
Total | 225,728,523 | 354,144,854 | 381,329,360 | 590,794,339 |
Industrial Transformation | Products and services transferred over the time | ||||
Disclosure of disaggregation of revenue from contracts with customers [line items] | ||||
Total | (46,838,663) | 18,432,150 | 10,435,214 | 28,474,721 |
Industrial Transformation | Gas | ||||
Disclosure of disaggregation of revenue from contracts with customers [line items] | ||||
Total | 13,975,569 | 33,842,246 | 31,648,990 | 64,589,228 |
Industrial Transformation | Refined petroleum products | ||||
Disclosure of disaggregation of revenue from contracts with customers [line items] | ||||
Total | 164,464,859 | 266,504,836 | 357,697,788 | 467,335,043 |
Industrial Transformation | Incentive for automotive fuels | ||||
Disclosure of disaggregation of revenue from contracts with customers [line items] | ||||
Total | (374) | 64,529,190 | 19,163 | 75,055,185 |
Industrial Transformation | Other | ||||
Disclosure of disaggregation of revenue from contracts with customers [line items] | ||||
Total | 328,284 | 7,460,356 | 2,233,988 | 11,746,730 |
Industrial Transformation | Services | ||||
Disclosure of disaggregation of revenue from contracts with customers [line items] | ||||
Total | 121,522 | 240,376 | 164,645 | 542,874 |
Industrial Transformation | Local | ||||
Disclosure of disaggregation of revenue from contracts with customers [line items] | ||||
Total | 178,890,234 | 308,047,814 | 391,745,411 | 544,213,875 |
Industrial Transformation | Incentive for automotive fuels | ||||
Disclosure of disaggregation of revenue from contracts with customers [line items] | ||||
Total | (374) | 64,529,190 | 19,163 | 75,055,185 |
Logistics | ||||
Disclosure of disaggregation of revenue from contracts with customers [line items] | ||||
Total | 938,914 | 332,289 | 884,275 | 755,518 |
Logistics | Products transferred at a point in time | ||||
Disclosure of disaggregation of revenue from contracts with customers [line items] | ||||
Total | 938,914 | 332,289 | 884,275 | 755,518 |
Logistics | Services | ||||
Disclosure of disaggregation of revenue from contracts with customers [line items] | ||||
Total | 938,914 | 332,289 | 884,275 | 755,518 |
Logistics | Local | ||||
Disclosure of disaggregation of revenue from contracts with customers [line items] | ||||
Total | 938,914 | 332,289 | 884,275 | 755,518 |
DPRLP | ||||
Disclosure of disaggregation of revenue from contracts with customers [line items] | ||||
Total | 43,120,332 | 74,112,073 | 81,871,944 | 127,505,427 |
DPRLP | Products transferred at a point in time | ||||
Disclosure of disaggregation of revenue from contracts with customers [line items] | ||||
Total | 43,120,554 | 74,122,078 | 81,871,944 | 126,668,052 |
DPRLP | Products and services transferred over the time | ||||
Disclosure of disaggregation of revenue from contracts with customers [line items] | ||||
Total | (222) | (10,005) | 837,375 | |
DPRLP | Gas | ||||
Disclosure of disaggregation of revenue from contracts with customers [line items] | ||||
Total | 2,439,805 | 4,592,291 | 2,439,805 | 4,592,291 |
DPRLP | Refined petroleum products | ||||
Disclosure of disaggregation of revenue from contracts with customers [line items] | ||||
Total | (34,383,489) | 43,645,022 | 539,640 | 61,044,103 |
DPRLP | Other | ||||
Disclosure of disaggregation of revenue from contracts with customers [line items] | ||||
Total | 75,064,238 | 25,884,765 | 78,892,499 | 61,031,658 |
DPRLP | Services | ||||
Disclosure of disaggregation of revenue from contracts with customers [line items] | ||||
Total | (222) | (10,005) | 837,375 | |
DPRLP | United States | ||||
Disclosure of disaggregation of revenue from contracts with customers [line items] | ||||
Total | 43,120,332 | 74,112,073 | 81,871,944 | 127,505,427 |
Trading Companies | ||||
Disclosure of disaggregation of revenue from contracts with customers [line items] | ||||
Total | 73,937,905 | 91,418,996 | 137,841,155 | 170,850,619 |
Trading Companies | Products transferred at a point in time | ||||
Disclosure of disaggregation of revenue from contracts with customers [line items] | ||||
Total | 73,435,364 | 90,954,226 | 136,828,605 | 169,781,579 |
Trading Companies | Products and services transferred over the time | ||||
Disclosure of disaggregation of revenue from contracts with customers [line items] | ||||
Total | 502,541 | 464,770 | 1,012,550 | 1,069,040 |
Trading Companies | Crude oil | ||||
Disclosure of disaggregation of revenue from contracts with customers [line items] | ||||
Total | 1,274,349 | (545,108) | 1,955,375 | |
Trading Companies | Gas | ||||
Disclosure of disaggregation of revenue from contracts with customers [line items] | ||||
Total | 6,791,280 | 27,766,467 | 17,270,489 | 49,777,615 |
Trading Companies | Refined petroleum products | ||||
Disclosure of disaggregation of revenue from contracts with customers [line items] | ||||
Total | 65,086,715 | 63,577,862 | 117,146,844 | 117,463,434 |
Trading Companies | Other | ||||
Disclosure of disaggregation of revenue from contracts with customers [line items] | ||||
Total | 283,020 | 155,005 | 455,897 | 2,540,530 |
Trading Companies | Services | ||||
Disclosure of disaggregation of revenue from contracts with customers [line items] | ||||
Total | 502,541 | 464,770 | 1,012,550 | 1,069,040 |
Trading Companies | United States | ||||
Disclosure of disaggregation of revenue from contracts with customers [line items] | ||||
Total | 34,568,985 | 66,505,495 | 68,962,617 | 125,401,036 |
Trading Companies | Other | ||||
Disclosure of disaggregation of revenue from contracts with customers [line items] | ||||
Total | 3,245,955 | 1,893,485 | 5,264,697 | 4,147,571 |
Trading Companies | Europe | ||||
Disclosure of disaggregation of revenue from contracts with customers [line items] | ||||
Total | 1,858,790 | 583,036 | 2,573,765 | 2,326,347 |
Trading Companies | Local | ||||
Disclosure of disaggregation of revenue from contracts with customers [line items] | ||||
Total | 34,264,175 | 22,436,980 | 61,040,076 | 38,975,665 |
Corporate | ||||
Disclosure of disaggregation of revenue from contracts with customers [line items] | ||||
Total | 225 | 221 | 457 | 528 |
Corporate | Products and services transferred over the time | ||||
Disclosure of disaggregation of revenue from contracts with customers [line items] | ||||
Total | 225 | 221 | 457 | 528 |
Corporate | Services | ||||
Disclosure of disaggregation of revenue from contracts with customers [line items] | ||||
Total | 225 | 221 | 457 | 528 |
Corporate | Local | ||||
Disclosure of disaggregation of revenue from contracts with customers [line items] | ||||
Total | 225 | 221 | 457 | 528 |
Other Operating Subsidiary Companies | ||||
Disclosure of disaggregation of revenue from contracts with customers [line items] | ||||
Total | 6,316,577 | 4,889,101 | 10,011,560 | 10,362,437 |
Other Operating Subsidiary Companies | Products transferred at a point in time | ||||
Disclosure of disaggregation of revenue from contracts with customers [line items] | ||||
Total | 6,308,660 | 4,885,944 | 9,983,763 | 10,356,048 |
Other Operating Subsidiary Companies | Products and services transferred over the time | ||||
Disclosure of disaggregation of revenue from contracts with customers [line items] | ||||
Total | 7,917 | 3,157 | 27,797 | 6,389 |
Other Operating Subsidiary Companies | Other | ||||
Disclosure of disaggregation of revenue from contracts with customers [line items] | ||||
Total | 6,308,660 | 4,885,945 | 9,983,763 | 10,356,048 |
Other Operating Subsidiary Companies | Services | ||||
Disclosure of disaggregation of revenue from contracts with customers [line items] | ||||
Total | 7,917 | 3,156 | 27,797 | 6,389 |
Other Operating Subsidiary Companies | United States | ||||
Disclosure of disaggregation of revenue from contracts with customers [line items] | ||||
Total | 400,358 | 151,366 | 869,253 | 980,535 |
Other Operating Subsidiary Companies | Other | ||||
Disclosure of disaggregation of revenue from contracts with customers [line items] | ||||
Total | 27,773 | 178,370 | 40,520 | 3,047,940 |
Other Operating Subsidiary Companies | Local | ||||
Disclosure of disaggregation of revenue from contracts with customers [line items] | ||||
Total | $ 5,888,446 | $ 4,559,365 | $ 9,101,787 | $ 6,333,962 |
Revenue - Additional Informatio
Revenue - Additional Information (Detail) - MXN ($) $ in Thousands | 3 Months Ended | 6 Months Ended | |||
Jun. 30, 2023 | Jun. 30, 2022 | Jun. 30, 2023 | Jun. 30, 2022 | Dec. 31, 2022 | |
Disclosure of geographical areas [line items] | |||||
Payment terms (in days) | 30 days | 30 days | |||
Sales price determination period, maximum (in months) | 2 months | 2 months | |||
Current receivables from contracts with customers | $ 113,476,185 | $ 113,476,185 | $ 107,117,145 | ||
Incentive for automotive fuels | $ (374) | $ 64,529,190 | $ 19,163 | $ 75,055,185 | |
Refined petroleum products | |||||
Disclosure of geographical areas [line items] | |||||
Invoice payment terms (in days) | 30 days | 30 days | |||
Gas | |||||
Disclosure of geographical areas [line items] | |||||
Invoice payment terms (in days) | 30 days | 30 days | |||
Services | |||||
Disclosure of geographical areas [line items] | |||||
Invoice payment terms (in days) | 22 days | 22 days | |||
Other | |||||
Disclosure of geographical areas [line items] | |||||
Invoice payment terms (in days) | 30 days | 30 days |
Financial Instruments - Summary
Financial Instruments - Summary of Carrying Amounts and Fair Value of Financial Assets and Liabilities (Detail) - MXN ($) $ in Thousands | Jun. 30, 2023 | Dec. 31, 2022 | Jun. 30, 2022 | Dec. 31, 2021 |
Disclosure of detailed information about financial instruments [line items] | ||||
Cash and cash equivalents | $ 64,115,200 | $ 64,414,511 | $ 64,932,217 | $ 76,506,447 |
Customers, net | 113,476,185 | 107,117,145 | ||
Sundry debtors | 50,141,443 | 40,074,758 | ||
Investments in joint ventures and associates | 1,787,482 | 2,043,966 | ||
Other assets | 55,321,442 | 45,040,403 | ||
Financial liabilities measured at fair value | (22,242,056) | |||
Suppliers | (231,157,760) | (282,245,250) | ||
Accounts and accrued expenses payable | (90,734,407) | (81,808,426) | ||
Debt | (1,621,807,044) | (1,853,421,785) | ||
Derivative financial instruments | ||||
Disclosure of detailed information about financial instruments [line items] | ||||
Financial liabilities measured at fair value | (31,231,609) | |||
Derivative financial instruments | ||||
Disclosure of detailed information about financial instruments [line items] | ||||
Financial assets measured at fair value | 12,556,462 | 12,755,568 | ||
Equity instruments | ||||
Disclosure of detailed information about financial instruments [line items] | ||||
Financial assets measured at fair value | 355,252 | 370,317 | ||
Mexican Government Bonds | ||||
Disclosure of detailed information about financial instruments [line items] | ||||
Mexican Government Bonds | 80,144,423 | 108,062,414 | ||
Total carrying amount | ||||
Disclosure of detailed information about financial instruments [line items] | ||||
Financial assets measured at fair value | 12,911,714 | 13,125,885 | ||
Cash and cash equivalents | 64,115,200 | 64,414,511 | ||
Customers, net | 113,476,185 | 107,117,145 | ||
Officials and employees | 5,179,999 | 4,965,645 | ||
Sundry debtors | 50,141,443 | 40,074,758 | ||
Investments in joint ventures and associates | 1,787,482 | 2,043,966 | ||
Notes receivable | 1,372,338 | 1,334,126 | ||
Other assets | 4,162,711 | 4,602,021 | ||
Financial assets not measured at fair value | 322,333,530 | 334,731,689 | ||
Financial liabilities measured at fair value | (31,231,609) | (22,242,056) | ||
Suppliers | (231,157,760) | (282,245,250) | ||
Accounts and accrued expenses payable | (90,734,407) | (81,808,426) | ||
Leases | (45,215,204) | (51,131,575) | ||
Debt | (1,886,616,956) | (2,091,463,996) | ||
Total | (2,253,724,327) | (2,506,649,247) | ||
Total carrying amount | Other financial liabilities | ||||
Disclosure of detailed information about financial instruments [line items] | ||||
Suppliers | (231,157,760) | (282,245,250) | ||
Accounts and accrued expenses payable | (90,734,407) | (81,808,426) | ||
Leases | (45,215,204) | (51,131,575) | ||
Debt | (1,886,616,956) | (2,091,463,996) | ||
Total | (2,253,724,327) | (2,506,649,247) | ||
Total carrying amount | Derivative financial instruments | ||||
Disclosure of detailed information about financial instruments [line items] | ||||
Financial liabilities measured at fair value | (31,231,609) | (22,242,056) | ||
Total carrying amount | FVTPL | ||||
Disclosure of detailed information about financial instruments [line items] | ||||
Financial assets measured at fair value | 12,556,462 | 12,755,568 | ||
Financial liabilities measured at fair value | (31,231,609) | (22,242,056) | ||
Total carrying amount | FVTPL | Derivative financial instruments | ||||
Disclosure of detailed information about financial instruments [line items] | ||||
Financial liabilities measured at fair value | (31,231,609) | (22,242,056) | ||
Total carrying amount | FVOCI – equity instruments | ||||
Disclosure of detailed information about financial instruments [line items] | ||||
Financial assets measured at fair value | 355,252 | 370,317 | ||
Total carrying amount | Financial assets at amortized cost | ||||
Disclosure of detailed information about financial instruments [line items] | ||||
Cash and cash equivalents | 64,115,200 | 64,414,511 | ||
Customers, net | 113,476,185 | 107,117,145 | ||
Officials and employees | 5,179,999 | 4,965,645 | ||
Sundry debtors | 50,141,443 | 40,074,758 | ||
Investments in joint ventures and associates | 1,787,482 | 2,043,966 | ||
Notes receivable | 1,372,338 | 1,334,126 | ||
Other assets | 4,162,711 | 4,602,021 | ||
Financial assets not measured at fair value | 322,333,530 | 334,731,689 | ||
Total carrying amount | Derivative financial instruments | ||||
Disclosure of detailed information about financial instruments [line items] | ||||
Financial assets measured at fair value | 12,556,462 | 12,755,568 | ||
Total carrying amount | Derivative financial instruments | FVTPL | ||||
Disclosure of detailed information about financial instruments [line items] | ||||
Financial assets measured at fair value | 12,556,462 | 12,755,568 | ||
Total carrying amount | Equity instruments | ||||
Disclosure of detailed information about financial instruments [line items] | ||||
Financial assets measured at fair value | 355,252 | 370,317 | ||
Total carrying amount | Equity instruments | FVOCI – equity instruments | ||||
Disclosure of detailed information about financial instruments [line items] | ||||
Financial assets measured at fair value | 355,252 | 370,317 | ||
Total carrying amount | Mexican Government Bonds | ||||
Disclosure of detailed information about financial instruments [line items] | ||||
Mexican Government Bonds | 82,098,172 | 110,179,517 | ||
Total carrying amount | Mexican Government Bonds | Financial assets at amortized cost | ||||
Disclosure of detailed information about financial instruments [line items] | ||||
Mexican Government Bonds | 82,098,172 | 110,179,517 | ||
Level 1 | Mexican Government Bonds | ||||
Disclosure of detailed information about financial instruments [line items] | ||||
Mexican Government Bonds | 80,144,423 | 108,062,414 | ||
Level 2 | ||||
Disclosure of detailed information about financial instruments [line items] | ||||
Debt | (1,621,807,044) | (1,853,421,785) | ||
Level 2 | Derivative financial instruments | ||||
Disclosure of detailed information about financial instruments [line items] | ||||
Financial liabilities measured at fair value | (31,231,609) | (22,242,056) | ||
Level 2 | Derivative financial instruments | ||||
Disclosure of detailed information about financial instruments [line items] | ||||
Financial assets measured at fair value | 12,556,462 | 12,755,568 | ||
Level 2 | Equity instruments | ||||
Disclosure of detailed information about financial instruments [line items] | ||||
Financial assets measured at fair value | $ 355,252 | $ 370,317 |
Financial Instruments - Additio
Financial Instruments - Additional Information (Detail) - MXN ($) $ in Thousands | 3 Months Ended | 6 Months Ended | |||
Jun. 30, 2023 | Jun. 30, 2022 | Jun. 30, 2023 | Jun. 30, 2022 | Dec. 31, 2022 | |
Disclosure of detailed information about financial instruments [line items] | |||||
Financial instruments designated as hedging instruments, at fair value | $ (18,675,147) | $ (18,675,147) | $ (9,486,488) | ||
Derivative financial instruments (cost) income, net | $ (2,489,947) | $ 16,757,949 | $ (2,788,339) | $ 24,509,153 |
Financial Instruments - Summa_2
Financial Instruments - Summary Of Portfolio of Financial Instruments Composed of Debt Instruments and DFI (Detail) $ in Thousands | Jun. 30, 2023 MXN ($) |
LIBOR 1M USD | |
Disclosure of detailed information about financial instruments [line items] | |
Debt Notional Amount | $ 450,101 |
LIBOR 3M USD | |
Disclosure of detailed information about financial instruments [line items] | |
Debt Notional Amount | 206,370 |
LIBOR 6M USD | |
Disclosure of detailed information about financial instruments [line items] | |
Debt Notional Amount | 701,113 |
TIIE 28D MXN | |
Disclosure of detailed information about financial instruments [line items] | |
Debt Notional Amount | 106,238,606 |
DFI Notional Amount | 32,505,574 |
TIIE 91D MXN | |
Disclosure of detailed information about financial instruments [line items] | |
Debt Notional Amount | $ 29,060,976 |
Cash and Cash Equivalents - Sum
Cash and Cash Equivalents - Summary of Cash and Cash Equivalents (Detail) - MXN ($) $ in Thousands | Jun. 30, 2023 | Dec. 31, 2022 | Jun. 30, 2022 | Dec. 31, 2021 |
Cash and cash equivalents [abstract] | ||||
Cash on hand and in banks | $ 49,496,171 | $ 41,316,304 | ||
Highly liquid investments | 14,619,029 | 23,098,207 | ||
Cash and cash equivalents | $ 64,115,200 | $ 64,414,511 | $ 64,932,217 | $ 76,506,447 |
Customers and Other Financing_3
Customers and Other Financing and Non-Financing Accounts Receivable - Summary of Accounts Receivable and Other Receivables (Detail) - MXN ($) $ in Thousands | Jun. 30, 2023 | Dec. 31, 2022 |
Trade and Other Receivables [Line Items] | ||
Total customers, net | $ 113,476,185 | $ 107,117,145 |
Domestic customers, net | ||
Trade and Other Receivables [Line Items] | ||
Total customers, net | 72,378,073 | 69,979,713 |
Export customers, net | ||
Trade and Other Receivables [Line Items] | ||
Total customers, net | $ 41,098,112 | $ 37,137,432 |
Customers and Other Financing_4
Customers and Other Financing and Non-Financing Accounts Receivable - Summary of Other Accounts Receivable (Detail) - MXN ($) $ in Thousands | Jun. 30, 2023 | Dec. 31, 2022 |
Financial assets: | ||
Sundry debtors | $ 50,141,443 | $ 40,074,758 |
Employees and officers | 5,179,999 | 4,965,645 |
Total financial assets | 55,321,442 | 45,040,403 |
Non-financial assets: | ||
Taxes to be recovered and prepaid taxes | 61,733,516 | 44,597,094 |
Special Tax on Production and Services | 22,891,100 | 75,213,134 |
Other accounts receivable | 5,142,859 | 2,911,791 |
Total non-financial assets | $ 89,767,475 | $ 122,722,019 |
Customers and Other Financing_5
Customers and Other Financing and Non-Financing Accounts Receivable - Additional Information (Detail) - MXN ($) $ in Thousands | Jun. 30, 2023 | Dec. 31, 2022 |
Trade and other receivables [abstract] | ||
Financing receivable, individually evaluated for impairment | $ (678,195) | $ (251,086) |
Inventories - Summary of Invent
Inventories - Summary of Inventories (Detail) - MXN ($) $ in Thousands | Jun. 30, 2023 | Dec. 31, 2022 |
Disclosure of Inventories [Line Items] | ||
Inventories | $ 112,402,011 | $ 126,018,397 |
Refined and petrochemicals products | ||
Disclosure of Inventories [Line Items] | ||
Inventories | 50,929,957 | 60,838,241 |
Crude oil | ||
Disclosure of Inventories [Line Items] | ||
Inventories | 32,239,986 | 32,971,427 |
Products in transit | ||
Disclosure of Inventories [Line Items] | ||
Inventories | 22,793,175 | 25,345,696 |
Materials and products in stock | ||
Disclosure of Inventories [Line Items] | ||
Inventories | 6,169,050 | 6,171,040 |
Gas and condensate products | ||
Disclosure of Inventories [Line Items] | ||
Inventories | 241,985 | 298,029 |
Materials in transit | ||
Disclosure of Inventories [Line Items] | ||
Inventories | $ 27,858 | $ 393,964 |
Investments in Joint Ventures_3
Investments in Joint Ventures and Associates - Schedule of Investments in Joint Ventures and Associates (Detail) - MXN ($) $ in Thousands | 6 Months Ended | |
Jun. 30, 2023 | Dec. 31, 2022 | |
Disclosure of Investments in Subsidiaries Joint Ventures and Associates [Line items] | ||
Investments in joint ventures and associates | $ 1,787,482 | $ 2,043,966 |
Frontera Brownsville, LLC | ||
Disclosure of Investments in Subsidiaries Joint Ventures and Associates [Line items] | ||
Percentage of investment | 50% | |
Investments in joint ventures and associates | $ 370,391 | 410,097 |
Texas Frontera, LLC | ||
Disclosure of Investments in Subsidiaries Joint Ventures and Associates [Line items] | ||
Percentage of investment | 50% | |
Investments in joint ventures and associates | $ 177,635 | 185,967 |
CH 4 Energía, S.A. de C.V. | ||
Disclosure of Investments in Subsidiaries Joint Ventures and Associates [Line items] | ||
Percentage of investment | 50% | |
Investments in joint ventures and associates | $ 161,658 | 170,188 |
Sierrita Gas Pipeline LLC | ||
Disclosure of Investments in Subsidiaries Joint Ventures and Associates [Line items] | ||
Percentage of investment | 35% | |
Investments in joint ventures and associates | $ 845,220 | 1,051,626 |
Administración Portuaria Integral de Dos Bocas, S. A. de C.V. | ||
Disclosure of Investments in Subsidiaries Joint Ventures and Associates [Line items] | ||
Percentage of investment | 40% | |
Investments in joint ventures and associates | $ 112,792 | 91,537 |
Other, net | ||
Disclosure of Investments in Subsidiaries Joint Ventures and Associates [Line items] | ||
Investments in joint ventures and associates | $ 119,786 | $ 134,551 |
Investments in Joint Ventures_4
Investments in Joint Ventures and Associates - Schedule (Loss) profit Sharing in Joint Ventures and Associates (Detail) - MXN ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2023 | Jun. 30, 2022 | Jun. 30, 2023 | Jun. 30, 2022 | |
Disclosure of Investments in Associates and Other [Line Items] | ||||
Profit sharing in joint ventures and associates, net | $ 42,013 | $ 97,142 | $ 151,969 | $ 161,148 |
Sierrita Gas Pipeline LLC | ||||
Disclosure of Investments in Associates and Other [Line Items] | ||||
Profit sharing in joint ventures and associates, net | (778) | 48,643 | 28,753 | 81,445 |
Administración Portuaria Integral de Dos Bocas, S. A. de C.V. | ||||
Disclosure of Investments in Associates and Other [Line Items] | ||||
Profit sharing in joint ventures and associates, net | (9,042) | 19,744 | 21,256 | 2,201 |
Other, net | ||||
Disclosure of Investments in Associates and Other [Line Items] | ||||
Profit sharing in joint ventures and associates, net | 20,729 | 15,642 | 46,128 | 42,009 |
Texas Frontera, LLC | ||||
Disclosure of Investments in Associates and Other [Line Items] | ||||
Profit sharing in joint ventures and associates, net | 19,351 | 4,264 | 31,239 | 7,256 |
Frontera Brownsville, LLC | ||||
Disclosure of Investments in Associates and Other [Line Items] | ||||
Profit sharing in joint ventures and associates, net | 704 | 4,505 | 1,623 | 7,428 |
CH 4 Energía, S.A. de C.V. | ||||
Disclosure of Investments in Associates and Other [Line Items] | ||||
Profit sharing in joint ventures and associates, net | $ 11,049 | $ 4,344 | $ 22,970 | $ 20,809 |
Investments in Joint Ventures_5
Investments in Joint Ventures and Associates - Additional Information (Detail) $ in Thousands, $ in Thousands | 6 Months Ended | 11 Months Ended | 12 Months Ended | |||||||||
Jan. 20, 2022 MXN ($) | Jan. 20, 2022 USD ($) | Jul. 27, 2010 tank Barrels | Mar. 31, 1993 Barrels | Jun. 30, 2023 MXN ($) | Dec. 31, 2022 MXN ($) | Dec. 31, 2022 MXN ($) | Dec. 31, 2022 USD ($) | Jan. 31, 2022 MXN ($) | Jan. 31, 2022 USD ($) | Jan. 20, 2022 USD ($) | Dec. 31, 2021 MXN ($) | |
Disclosure of Investments in Associates and Other [Line Items] | ||||||||||||
Investments in joint ventures and associates | $ 1,787,482 | $ 2,043,966 | $ 2,043,966 | |||||||||
Current portion of long-term debt | $ 516,455,816 | 465,947,683 | 465,947,683 | |||||||||
Deer Park | ||||||||||||
Disclosure of Investments in Associates and Other [Line Items] | ||||||||||||
Cash paid to Shell | $ 6,663,803 | $ 326,609 | ||||||||||
Acquisition-related costs recognised as expense | 145,937 | $ 7,091 | ||||||||||
Gain recognised in bargain purchase transaction | $ 1,271,188 | 62,304 | ||||||||||
Revenue of acquiree since acquisition date | 238,940,945 | |||||||||||
Profit (loss) of acquiree since acquisition date | 20,905,292 | |||||||||||
Increase (decrease) through net exchange differences, investment property | $ (10,383,296) | |||||||||||
PMI NASA | Deer Park | ||||||||||||
Disclosure of Investments in Associates and Other [Line Items] | ||||||||||||
Percentage of partner loan repayment | 100% | 100% | ||||||||||
Cash paid to Shell | $ 1,227,383 | $ 60,157 | ||||||||||
Equity interests of acquirer | 5,436,420 | $ 266,452 | ||||||||||
Line of credit facility principle payment | 6,630,975 | 325,000 | ||||||||||
Line of credit facility interest payment | $ 32,828 | $ 1,609 | ||||||||||
FONADIN | ||||||||||||
Disclosure of Investments in Associates and Other [Line Items] | ||||||||||||
Amounts receivable, related party transactions | $ 23,000,000 | $ 1,127,285 | ||||||||||
Current portion of long-term debt | $ 8,974,406 | $ 436,000 | ||||||||||
Deer Park Refining Limited | ||||||||||||
Disclosure of Investments in Associates and Other [Line Items] | ||||||||||||
Acquired percentage | 50.005% | 50.005% | 50.005% | |||||||||
Fair value percentage of interest in joint venture | 1 | |||||||||||
Investments in joint ventures and associates | $ 6,703,324 | |||||||||||
Percentage of investment | 49.995% | |||||||||||
Fair value of investments in joint venture for which there are quoted market prices, assuming one hundred percent interest in joint venture | $ 1,192,000 | |||||||||||
Fair value of investments in joint ventures | $ 596,000 | |||||||||||
Deer Park Refining Limited | PMI NASA | ||||||||||||
Disclosure of Investments in Associates and Other [Line Items] | ||||||||||||
Acquired percentage | 49.995% | |||||||||||
Installed capacity of crude oil per day | Barrels | 340,000 | |||||||||||
Texas Frontera, LLC | ||||||||||||
Disclosure of Investments in Associates and Other [Line Items] | ||||||||||||
Percentage of interest in joint venture | 50% | |||||||||||
Investments in joint ventures and associates | $ 177,635 | $ 185,967 | $ 185,967 | |||||||||
Number of tanks | tank | 7 | |||||||||||
Number of barrels in each tanks | Barrels | 120,000 | |||||||||||
Texas Frontera, LLC | PMI SUS | ||||||||||||
Disclosure of Investments in Associates and Other [Line Items] | ||||||||||||
Acquired percentage | 50% |
Investments In Joint Ventures_6
Investments In Joint Ventures and Associates - Summary of Business Acquisition Consideration Transferred (Detail) $ in Thousands, $ in Thousands | 12 Months Ended | |||
Jan. 20, 2022 MXN ($) | Jan. 20, 2022 USD ($) | Dec. 31, 2022 | Jan. 20, 2022 USD ($) | |
Deer Park Refining Limited | ||||
Disclosure of detailed information about business combination [line items] | ||||
Acquired percentage | 50.005% | 50.005% | 50.005% | |
Deer Park | ||||
Disclosure of detailed information about business combination [line items] | ||||
Cash paid to Shell | $ 8,597,743 | $ 421,396 | ||
Payment of debt to third parties | 18,289,066 | 896,391 | ||
Payment of DPRLP’s debt to company partners | 3,496,054 | 171,350 | ||
Total consideration paid in cash | 30,382,863 | $ 1,489,137 | ||
Settlement of pre-existing relationship | 6,663,803 | $ 326,609 | ||
Total consideration paid in cash and settlement of pre-existing relationship | $ 37,046,666 | $ 1,815,746 |
Investments In Joint Ventures_7
Investments In Joint Ventures and Associates - Summary Of Fair Value of Identifiable Assets Acquired (Detail) - Jan. 20, 2022 $ in Thousands, $ in Thousands | MXN ($) | USD ($) |
Investments in subsidiaries, joint ventures and associates reported in separate financial statements [abstract] | ||
Cash and cash equivalents | $ 1,597,759 | $ 78,310 |
Inventories | 6,918,473 | 339,091 |
Other current assets | 131,661 | 6,453 |
Total current Assets | 8,647,893 | 423,854 |
Property, Plant and Equipment | 29,669,961 | 1,454,196 |
Total identifiable net assets acquired | $ 38,317,854 | $ 1,878,050 |
Investments In Joint Ventures_8
Investments In Joint Ventures and Associates - Summary Of Bargain Purchase (Detail) - Jan. 20, 2022 $ in Thousands, $ in Thousands | MXN ($) | USD ($) | USD ($) |
Disclosure of Investments in Subsidiaries Joint Ventures and Associates [Line items] | |||
Fair value of the identifiable net assets acquired | $ 38,317,854 | $ 1,878,050 | |
Deer Park | |||
Disclosure of Investments in Subsidiaries Joint Ventures and Associates [Line items] | |||
Total consideration transferred | 37,046,666 | 1,815,746 | |
Fair value of the identifiable net assets acquired | (38,317,854) | $ (1,878,050) | |
Gain on bargain purchase | $ (1,271,188) | $ (62,304) |
Wells, Pipelines, Properties,_3
Wells, Pipelines, Properties, Plant and Equipment, Net - Property, Plant and Equipment (Detail) $ in Thousands, $ in Thousands | 3 Months Ended | 6 Months Ended | |||||
Jun. 30, 2023 MXN ($) | Jun. 30, 2022 MXN ($) | Jun. 30, 2023 MXN ($) | Jun. 30, 2022 MXN ($) | Dec. 31, 2022 MXN ($) | Jan. 20, 2022 MXN ($) | Jan. 20, 2022 USD ($) | |
Disclosure of detailed information about property, plant and equipment [line items] | |||||||
Beginning balance | $ 1,368,750,850 | ||||||
Translation effect | (37,151,380) | $ (4,924,630) | |||||
Ending balance | $ 1,331,419,805 | $ 1,406,321,403 | 1,331,419,805 | 1,406,321,403 | |||
Acquired assets | $ 29,669,961 | $ 1,454,196 | |||||
Depreciation and amortization expense | 56,791,178 | 69,413,993 | |||||
Plugging and abandonment cost | 30,330 | 35,914 | |||||
Provisions for plugging wells | 60,915,126 | 60,915,126 | $ 66,699,388 | ||||
(Impairment) reversal of impairment of wells, pipelines, properties, plant and equipment, net | (25,947,103) | 47,787,490 | (66,084,491) | 64,128,110 | |||
Investment | |||||||
Disclosure of detailed information about property, plant and equipment [line items] | |||||||
Beginning balance | 4,150,256,095 | 3,811,116,522 | |||||
Acquisitions | 126,150,950 | 144,013,930 | |||||
Reclassifications | 3,221,420 | (152,100) | |||||
Capitalization | 0 | (10) | |||||
Disposals | (5,100,500) | (2,919,210) | |||||
Translation effect | (47,405,890) | (7,009,630) | |||||
Ending balance | 4,227,122,075 | 3,945,049,502 | 4,227,122,075 | 3,945,049,502 | |||
Accumulated depreciation and amortization | |||||||
Disclosure of detailed information about property, plant and equipment [line items] | |||||||
Beginning balance | (2,781,505,245) | (2,536,583,915) | |||||
Depreciation and amortization | (56,791,178) | (69,413,993) | |||||
Reclassifications | (3,221,420) | 152,100 | |||||
(Impairment) | (80,931,691) | (24,977,950) | |||||
Reversal of impairment | 14,847,200 | 89,106,060 | |||||
Disposals | 1,645,554 | 904,599 | |||||
Translation effect | 10,254,510 | 2,085,000 | |||||
Ending balance | (2,895,702,270) | (2,538,728,099) | (2,895,702,270) | (2,538,728,099) | |||
Plants | |||||||
Disclosure of detailed information about property, plant and equipment [line items] | |||||||
Ending balance | 246,139,276 | 319,997,184 | 246,139,276 | 319,997,184 | |||
Plants | Investment | |||||||
Disclosure of detailed information about property, plant and equipment [line items] | |||||||
Beginning balance | 1,053,836,879 | 951,486,189 | |||||
Acquisitions | 7,406,760 | 24,924,550 | |||||
Reclassifications | 412,300 | (190) | |||||
Capitalization | 6,420,470 | 8,340,710 | |||||
Disposals | (619,260) | (1,204,880) | |||||
Translation effect | (16,417,790) | (2,836,830) | |||||
Ending balance | 1,051,039,359 | 980,709,549 | 1,051,039,359 | 980,709,549 | |||
Plants | Accumulated depreciation and amortization | |||||||
Disclosure of detailed information about property, plant and equipment [line items] | |||||||
Beginning balance | (789,443,853) | (682,489,735) | |||||
Depreciation and amortization | (16,425,970) | (19,569,930) | |||||
Reclassifications | (405,220) | 90 | |||||
(Impairment) | (17,687,630) | (18,573,240) | |||||
Reversal of impairment | 9,514,200 | 57,865,740 | |||||
Disposals | 222,630 | 334,530 | |||||
Translation effect | 9,325,760 | 1,720,180 | |||||
Ending balance | (804,900,083) | (660,712,365) | $ (804,900,083) | (660,712,365) | |||
Plants | Bottom of range | |||||||
Disclosure of detailed information about property, plant and equipment [line items] | |||||||
Depreciation rates | 3% | ||||||
Estimated useful lives | 20 years | ||||||
Plants | Top of range | |||||||
Disclosure of detailed information about property, plant and equipment [line items] | |||||||
Depreciation rates | 5% | ||||||
Estimated useful lives | 35 years | ||||||
Drilling equipment | |||||||
Disclosure of detailed information about property, plant and equipment [line items] | |||||||
Ending balance | 9,682,171 | 7,364,438 | $ 9,682,171 | 7,364,438 | |||
Depreciation rates | 5% | ||||||
Estimated useful lives | 20 years | ||||||
Drilling equipment | Investment | |||||||
Disclosure of detailed information about property, plant and equipment [line items] | |||||||
Beginning balance | $ 14,840,995 | 13,548,596 | |||||
Acquisitions | 2,130,670 | 311,390 | |||||
Reclassifications | 0 | 0 | |||||
Capitalization | 0 | 0 | |||||
Disposals | (511,310) | 0 | |||||
Translation effect | 0 | 0 | |||||
Ending balance | 16,460,355 | 13,859,986 | 16,460,355 | 13,859,986 | |||
Drilling equipment | Accumulated depreciation and amortization | |||||||
Disclosure of detailed information about property, plant and equipment [line items] | |||||||
Beginning balance | (6,593,644) | (6,281,568) | |||||
Depreciation and amortization | (403,660) | (213,980) | |||||
Reclassifications | 0 | 0 | |||||
(Impairment) | 0 | 0 | |||||
Reversal of impairment | 0 | 0 | |||||
Disposals | 219,120 | 0 | |||||
Translation effect | 0 | 0 | |||||
Ending balance | (6,778,184) | (6,495,548) | (6,778,184) | (6,495,548) | |||
Pipelines | |||||||
Disclosure of detailed information about property, plant and equipment [line items] | |||||||
Ending balance | 224,414,777 | 259,514,454 | 224,414,777 | 259,514,454 | |||
Pipelines | Investment | |||||||
Disclosure of detailed information about property, plant and equipment [line items] | |||||||
Beginning balance | 493,683,632 | 495,475,879 | |||||
Acquisitions | 651,070 | 1,618,940 | |||||
Reclassifications | 103,360 | (71,210) | |||||
Capitalization | 6,050,860 | 4,044,640 | |||||
Disposals | (130,210) | (85,130) | |||||
Translation effect | (195,880) | (50,260) | |||||
Ending balance | 500,162,832 | 500,932,859 | 500,162,832 | 500,932,859 | |||
Pipelines | Accumulated depreciation and amortization | |||||||
Disclosure of detailed information about property, plant and equipment [line items] | |||||||
Beginning balance | (264,441,515) | (236,437,335) | |||||
Depreciation and amortization | (6,395,380) | (7,707,800) | |||||
Reclassifications | (103,360) | 0 | |||||
(Impairment) | (5,426,790) | (1,321,170) | |||||
Reversal of impairment | 329,110 | 3,976,210 | |||||
Disposals | 109,680 | 48,220 | |||||
Translation effect | 180,200 | 23,470 | |||||
Ending balance | (275,748,055) | (241,418,405) | $ (275,748,055) | (241,418,405) | |||
Pipelines | Bottom of range | |||||||
Disclosure of detailed information about property, plant and equipment [line items] | |||||||
Depreciation rates | 2% | ||||||
Estimated useful lives | 15 years | ||||||
Pipelines | Top of range | |||||||
Disclosure of detailed information about property, plant and equipment [line items] | |||||||
Depreciation rates | 7% | ||||||
Estimated useful lives | 45 years | ||||||
Wells | |||||||
Disclosure of detailed information about property, plant and equipment [line items] | |||||||
Ending balance | 329,598,041 | 324,575,182 | $ 329,598,041 | 324,575,182 | |||
Wells | Investment | |||||||
Disclosure of detailed information about property, plant and equipment [line items] | |||||||
Beginning balance | 1,586,407,714 | 1,487,962,570 | |||||
Acquisitions | 14,987,680 | 10,336,630 | |||||
Reclassifications | 2,967,760 | 0 | |||||
Capitalization | 46,219,390 | 30,885,250 | |||||
Disposals | (1,094,130) | 0 | |||||
Translation effect | 0 | 0 | |||||
Ending balance | 1,649,488,414 | 1,529,184,450 | 1,649,488,414 | 1,529,184,450 | |||
Wells | Accumulated depreciation and amortization | |||||||
Disclosure of detailed information about property, plant and equipment [line items] | |||||||
Beginning balance | (1,260,106,083) | (1,182,871,028) | |||||
Depreciation and amortization | (25,684,940) | (31,834,810) | |||||
Reclassifications | (2,989,670) | 71,670 | |||||
(Impairment) | (32,382,700) | (4,974,170) | |||||
Reversal of impairment | 532,450 | 14,999,070 | |||||
Disposals | 740,570 | 0 | |||||
Translation effect | 0 | 0 | |||||
Ending balance | (1,319,890,373) | (1,204,609,268) | (1,319,890,373) | (1,204,609,268) | |||
Buildings | |||||||
Disclosure of detailed information about property, plant and equipment [line items] | |||||||
Ending balance | 24,836,896 | 26,619,205 | 24,836,896 | 26,619,205 | |||
Buildings | Investment | |||||||
Disclosure of detailed information about property, plant and equipment [line items] | |||||||
Beginning balance | 73,865,712 | 70,711,580 | |||||
Acquisitions | 6,740 | 2,090,630 | |||||
Reclassifications | (176,590) | (530) | |||||
Capitalization | 246,960 | 746,020 | |||||
Disposals | (49,390) | (360) | |||||
Translation effect | (1,222,840) | (275,160) | |||||
Ending balance | 72,670,592 | 73,272,180 | 72,670,592 | 73,272,180 | |||
Buildings | Accumulated depreciation and amortization | |||||||
Disclosure of detailed information about property, plant and equipment [line items] | |||||||
Beginning balance | (47,796,496) | (45,856,045) | |||||
Depreciation and amortization | (956,350) | (934,610) | |||||
Reclassifications | 309,120 | 530 | |||||
(Impairment) | 0 | 0 | |||||
Reversal of impairment | 0 | 0 | |||||
Disposals | 0 | 360 | |||||
Translation effect | 610,030 | 136,790 | |||||
Ending balance | (47,833,696) | (46,652,975) | $ (47,833,696) | (46,652,975) | |||
Buildings | Bottom of range | |||||||
Disclosure of detailed information about property, plant and equipment [line items] | |||||||
Depreciation rates | 3% | ||||||
Estimated useful lives | 33 years | ||||||
Buildings | Top of range | |||||||
Disclosure of detailed information about property, plant and equipment [line items] | |||||||
Depreciation rates | 7% | ||||||
Estimated useful lives | 35 years | ||||||
Offshore platforms | |||||||
Disclosure of detailed information about property, plant and equipment [line items] | |||||||
Ending balance | 100,869,250 | 156,701,667 | $ 100,869,250 | 156,701,667 | |||
Depreciation rates | 4% | ||||||
Estimated useful lives | 25 years | ||||||
Offshore platforms | Investment | |||||||
Disclosure of detailed information about property, plant and equipment [line items] | |||||||
Beginning balance | $ 420,363,210 | 415,885,213 | |||||
Acquisitions | 773,510 | 907,100 | |||||
Reclassifications | 0 | 0 | |||||
Capitalization | 4,491,700 | 662,340 | |||||
Disposals | 0 | 0 | |||||
Translation effect | 0 | 0 | |||||
Ending balance | 425,628,420 | 417,454,653 | 425,628,420 | 417,454,653 | |||
Offshore platforms | Accumulated depreciation and amortization | |||||||
Disclosure of detailed information about property, plant and equipment [line items] | |||||||
Beginning balance | (294,192,090) | (264,074,556) | |||||
Depreciation and amortization | (5,500,690) | (7,443,710) | |||||
Reclassifications | 0 | 0 | |||||
(Impairment) | (25,066,390) | 0 | |||||
Reversal of impairment | 0 | 10,765,280 | |||||
Disposals | 0 | 0 | |||||
Translation effect | 0 | 0 | |||||
Ending balance | (324,759,170) | (260,752,986) | (324,759,170) | (260,752,986) | |||
Furniture and equipment | |||||||
Disclosure of detailed information about property, plant and equipment [line items] | |||||||
Ending balance | 5,396,454 | 9,004,098 | 5,396,454 | 9,004,098 | |||
Furniture and equipment | Investment | |||||||
Disclosure of detailed information about property, plant and equipment [line items] | |||||||
Beginning balance | 50,809,657 | 49,310,555 | |||||
Acquisitions | 839,640 | 5,238,190 | |||||
Reclassifications | 39,610 | (76,130) | |||||
Capitalization | 456,050 | 590,880 | |||||
Disposals | (371,460) | (245,840) | |||||
Translation effect | (83,550) | (235,640) | |||||
Ending balance | 51,689,947 | 54,582,015 | 51,689,947 | 54,582,015 | |||
Furniture and equipment | Accumulated depreciation and amortization | |||||||
Disclosure of detailed information about property, plant and equipment [line items] | |||||||
Beginning balance | (45,932,403) | (44,695,207) | |||||
Depreciation and amortization | (728,730) | (1,388,530) | |||||
Reclassifications | (32,350) | 75,760 | |||||
(Impairment) | 0 | 0 | |||||
Reversal of impairment | 0 | 0 | |||||
Disposals | 349,170 | 231,470 | |||||
Translation effect | 50,820 | 198,590 | |||||
Ending balance | (46,293,493) | (45,577,917) | $ (46,293,493) | (45,577,917) | |||
Furniture and equipment | Bottom of range | |||||||
Disclosure of detailed information about property, plant and equipment [line items] | |||||||
Depreciation rates | 3% | ||||||
Estimated useful lives | 3 years | ||||||
Furniture and equipment | Top of range | |||||||
Disclosure of detailed information about property, plant and equipment [line items] | |||||||
Depreciation rates | 10% | ||||||
Estimated useful lives | 10 years | ||||||
Transportation equipment | |||||||
Disclosure of detailed information about property, plant and equipment [line items] | |||||||
Ending balance | 14,695,051 | 9,601,731 | $ 14,695,051 | 9,601,731 | |||
Transportation equipment | Investment | |||||||
Disclosure of detailed information about property, plant and equipment [line items] | |||||||
Beginning balance | 29,297,417 | 28,534,437 | |||||
Acquisitions | 2,162,760 | ||||||
Reclassifications | (60) | (4,040) | |||||
Capitalization | 38,040 | 0 | |||||
Disposals | (13,330) | (650,280) | |||||
Translation effect | (522,430) | (132,920) | |||||
Ending balance | 30,962,397 | 24,682,277 | 30,962,397 | 24,682,277 | |||
Transportation equipment | Investment | Increase (decrease) due to corrections of prior period errors | |||||||
Disclosure of detailed information about property, plant and equipment [line items] | |||||||
Acquisitions | (3,064,920) | ||||||
Transportation equipment | Accumulated depreciation and amortization | |||||||
Disclosure of detailed information about property, plant and equipment [line items] | |||||||
Beginning balance | (15,664,032) | (15,059,962) | |||||
Depreciation and amortization | (695,458) | (320,623) | |||||
Reclassifications | 60 | 4,050 | |||||
(Impairment) | 0 | 0 | |||||
Reversal of impairment | 0 | 0 | |||||
Disposals | 4,384 | 290,019 | |||||
Translation effect | 87,700 | 5,970 | |||||
Ending balance | (16,267,346) | (15,080,546) | $ (16,267,346) | (15,080,546) | |||
Transportation equipment | Bottom of range | |||||||
Disclosure of detailed information about property, plant and equipment [line items] | |||||||
Depreciation rates | 4% | ||||||
Estimated useful lives | 5 years | ||||||
Transportation equipment | Top of range | |||||||
Disclosure of detailed information about property, plant and equipment [line items] | |||||||
Depreciation rates | 20% | ||||||
Estimated useful lives | 25 years | ||||||
Construction in progress | |||||||
Disclosure of detailed information about property, plant and equipment [line items] | |||||||
Ending balance | 322,826,544 | 247,781,861 | $ 322,826,544 | 247,781,861 | |||
Construction in progress | Investment | |||||||
Disclosure of detailed information about property, plant and equipment [line items] | |||||||
Beginning balance | 374,025,584 | 253,435,510 | |||||
Acquisitions | 97,051,190 | 101,595,260 | |||||
Reclassifications | (124,960) | 0 | |||||
Capitalization | (63,923,470) | (45,680,130) | |||||
Disposals | (2,310,810) | (732,720) | |||||
Translation effect | (28,659,120) | (3,407,970) | |||||
Ending balance | 376,058,414 | 305,209,950 | 376,058,414 | 305,209,950 | |||
Construction in progress | Accumulated depreciation and amortization | |||||||
Disclosure of detailed information about property, plant and equipment [line items] | |||||||
Beginning balance | (57,335,129) | (58,818,479) | |||||
Depreciation and amortization | 0 | 0 | |||||
Reclassifications | 0 | 0 | |||||
(Impairment) | (368,181) | (109,370) | |||||
Reversal of impairment | 4,471,440 | 1,499,760 | |||||
Disposals | 0 | 0 | |||||
Translation effect | 0 | 0 | |||||
Ending balance | (53,231,870) | (57,428,089) | (53,231,870) | (57,428,089) | |||
Land | |||||||
Disclosure of detailed information about property, plant and equipment [line items] | |||||||
Ending balance | 52,961,345 | 45,161,583 | 52,961,345 | 45,161,583 | |||
Land | Investment | |||||||
Disclosure of detailed information about property, plant and equipment [line items] | |||||||
Beginning balance | 53,125,295 | 44,765,993 | |||||
Acquisitions | 140,930 | 56,160 | |||||
Reclassifications | 0 | 0 | |||||
Capitalization | 0 | 410,280 | |||||
Disposals | (600) | 0 | |||||
Translation effect | (304,280) | (70,850) | |||||
Ending balance | 52,961,345 | 45,161,583 | 52,961,345 | 45,161,583 | |||
Land | Accumulated depreciation and amortization | |||||||
Disclosure of detailed information about property, plant and equipment [line items] | |||||||
Beginning balance | 0 | 0 | |||||
Depreciation and amortization | 0 | 0 | |||||
Reclassifications | 0 | 0 | |||||
(Impairment) | 0 | 0 | |||||
Reversal of impairment | 0 | 0 | |||||
Disposals | 0 | 0 | |||||
Translation effect | 0 | 0 | |||||
Ending balance | $ 0 | $ 0 | 0 | 0 | |||
Pemex Exploration and Production | |||||||
Disclosure of detailed information about property, plant and equipment [line items] | |||||||
Financing cost | $ 2,389,748 | $ 1,674,380 | |||||
Pemex Exploration and Production | Bottom of range | |||||||
Disclosure of detailed information about property, plant and equipment [line items] | |||||||
Financing costs rates | 6.47% | 5.40% | |||||
Pemex Exploration and Production | Top of range | |||||||
Disclosure of detailed information about property, plant and equipment [line items] | |||||||
Financing costs rates | 7.54% | 6.48% |
Wells, Pipelines, Properties,_4
Wells, Pipelines, Properties, Plant and Equipment, Net - Summary of Net Impairment (Pemex Exploration and Production) (Detail) - MXN ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2023 | Jun. 30, 2022 | Jun. 30, 2023 | Jun. 30, 2022 | |
Disclosure of detailed information about property, plant and equipment [line items] | ||||
(Impairment) reversal of impairment of wells, pipelines, properties, plant and equipment, net | $ (25,947,103) | $ 47,787,490 | $ (66,084,491) | $ 64,128,110 |
Pemex Exploration and Production | ||||
Disclosure of detailed information about property, plant and equipment [line items] | ||||
(Impairment) reversal of impairment of wells, pipelines, properties, plant and equipment, net | (59,536,095) | 21,547,474 | ||
Pemex Industrial Transformation | ||||
Disclosure of detailed information about property, plant and equipment [line items] | ||||
(Impairment) reversal of impairment of wells, pipelines, properties, plant and equipment, net | (6,548,396) | 40,823,408 | ||
Pemex Logistics | ||||
Disclosure of detailed information about property, plant and equipment [line items] | ||||
(Impairment) reversal of impairment of wells, pipelines, properties, plant and equipment, net | 0 | 1,474,790 | ||
MGAS | ||||
Disclosure of detailed information about property, plant and equipment [line items] | ||||
(Impairment) reversal of impairment of wells, pipelines, properties, plant and equipment, net | $ 0 | $ 282,438 |
Wells, Pipelines, Properties,_5
Wells, Pipelines, Properties, Plant and Equipment, Net - Additional Information (Detail) | 3 Months Ended | 6 Months Ended | 12 Months Ended | |||
Jun. 30, 2023 MXN ($) billionBarrels | Jun. 30, 2022 MXN ($) billionBarrels | Jun. 30, 2023 MXN ($) Exchange_Rate billionBarrels | Jun. 30, 2022 MXN ($) Exchange_Rate billionBarrels | Dec. 31, 2022 MXN ($) Exchange_Rate | Dec. 31, 2021 MXN ($) | |
Disclosure of detailed information about property, plant and equipment [line items] | ||||||
(Impairment) reversal of impairment of wells, pipelines, properties, plant and equipment, net | $ (25,947,103,000) | $ 47,787,490,000 | $ (66,084,491,000) | $ 64,128,110,000 | ||
Impairment or reversal of impairment of fixed assets | 156,903,875,000 | 225,977,991,000 | ||||
Pemex Exploration and Production | ||||||
Disclosure of detailed information about property, plant and equipment [line items] | ||||||
Exchange rate effect amount | $ 31,854,861,000 | $ 5,781,853,000 | ||||
Average foreign exchange rate | Exchange_Rate | 17.0720 | 19.9847 | 19.4143 | |||
Pemex Exploration and Production | ||||||
Disclosure of detailed information about property, plant and equipment [line items] | ||||||
(Impairment) reversal of impairment of wells, pipelines, properties, plant and equipment, net | $ (59,536,095,000) | $ 21,547,474,000 | ||||
Total | (59,536,095,000) | 21,547,474,000 | ||||
Negative effect from decrease in production | 83,067,440,000 | |||||
Average foreign exchange rate | 20.5835 | |||||
Positive effect due to increase decrease in discount rate | $ 25,052,959,000 | $ 13,119,343,000 | ||||
Positive effect from increase in crude oil prices | $ 42,858,913,000 | |||||
Pre-tax discount rate | 10.42% | 7.41% | 9.31% | 5.68% | ||
Positive tax effect due to lower income in reserves | $ 23,439,232,000 | |||||
Positive effect due to lower freight and distribution costs | 2,207,404,000 | |||||
Positive effect from decrease in production | $ 123,125,874,000 | |||||
Negative effect from decrease in production volume | 63,545,318,000 | |||||
Negative tax effect due to higher income | 7,198,269,000 | |||||
Impairment or reversal of impairment of fixed assets | $ 163,480,600,000 | $ 1,289,942,972,000 | ||||
Useful life | 25 years | 25 years | ||||
Production forecast | billionBarrels | 6,685,000 | 6,955,000 | 6,685,000 | 6,955,000 | ||
Pemex Industrial Transformation | ||||||
Disclosure of detailed information about property, plant and equipment [line items] | ||||||
(Impairment) reversal of impairment of wells, pipelines, properties, plant and equipment, net | $ (6,548,396,000) | $ 40,823,408,000 | ||||
Total | $ (6,548,396,000) | $ 40,823,408,000 | ||||
Average foreign exchange rate | 0.1410 | 0.1416 | ||||
Percentage of decrease in discount rate | 26.80% | |||||
Pemex Industrial Transformation | Refining | ||||||
Disclosure of detailed information about property, plant and equipment [line items] | ||||||
Average foreign exchange rate | Exchange_Rate | 17.0720 | 19.9847 | ||||
Pre-tax discount rate | 14.10% | 10.59% | ||||
Percentage of decrease in discount rate | 1,941.43% | 2,058.35% | ||||
Pemex Industrial Transformation | Gas | ||||||
Disclosure of detailed information about property, plant and equipment [line items] | ||||||
Average foreign exchange rate | Exchange_Rate | 17.0720 | 19.9847 | ||||
Pre-tax discount rate | 13.26% | 10.62% | ||||
Pemex Industrial Transformation | Petrochemicals | ||||||
Disclosure of detailed information about property, plant and equipment [line items] | ||||||
Average foreign exchange rate | Exchange_Rate | 17.0720 | 19.9847 | ||||
Pre-tax discount rate | 10.46% | 8.82% | ||||
Pemex Industrial Transformation | Ethylene | ||||||
Disclosure of detailed information about property, plant and equipment [line items] | ||||||
Average foreign exchange rate | Exchange_Rate | 17.0720 | 19.9847 | ||||
Pre-tax discount rate | 10.46% | 8.82% | ||||
Percentage of increase in discount rate | 2.20% | |||||
Pemex Industrial Transformation | Refined petroleum products | ||||||
Disclosure of detailed information about property, plant and equipment [line items] | ||||||
Percentage of decrease in discount rate | 12.10% |
Wells, Pipelines, Properties,_6
Wells, Pipelines, Properties, Plant and Equipment, Net - Summary of Net (Impairment) Reversal of Impairment (CGUs Pemex Exploration and Production) (Detail) - Pemex Exploration and Production - MXN ($) $ in Thousands | 6 Months Ended | |
Jun. 30, 2023 | Jun. 30, 2022 | |
Disclosure of information for impairment loss recognised or reversed for individual asset or cash-generating unit [line items] | ||
Total | $ (59,536,095) | $ 21,547,474 |
Chuc | ||
Disclosure of information for impairment loss recognised or reversed for individual asset or cash-generating unit [line items] | ||
Total | (19,216,570) | 0 |
Crudo Ligero Marino | ||
Disclosure of information for impairment loss recognised or reversed for individual asset or cash-generating unit [line items] | ||
Total | (7,863,676) | 0 |
Aceite Terciario del Golfo | ||
Disclosure of information for impairment loss recognised or reversed for individual asset or cash-generating unit [line items] | ||
Total | (6,634,837) | 0 |
Ogarrio Magallanes | ||
Disclosure of information for impairment loss recognised or reversed for individual asset or cash-generating unit [line items] | ||
Total | (6,448,126) | (7,928,033) |
Burgos | ||
Disclosure of information for impairment loss recognised or reversed for individual asset or cash-generating unit [line items] | ||
Total | (5,995,860) | 9,124,073 |
Tsimin Xux | ||
Disclosure of information for impairment loss recognised or reversed for individual asset or cash-generating unit [line items] | ||
Total | (5,224,009) | 723,354 |
Ixtal - Manik | ||
Disclosure of information for impairment loss recognised or reversed for individual asset or cash-generating unit [line items] | ||
Total | (4,837,174) | 0 |
Cantarell | ||
Disclosure of information for impairment loss recognised or reversed for individual asset or cash-generating unit [line items] | ||
Total | (2,851,694) | 11,363,472 |
Antonio J. Bermúdez | ||
Disclosure of information for impairment loss recognised or reversed for individual asset or cash-generating unit [line items] | ||
Total | (1,139,810) | 6,252,924 |
Poza Rica | ||
Disclosure of information for impairment loss recognised or reversed for individual asset or cash-generating unit [line items] | ||
Total | (751,664) | 0 |
Tamaulipas Constituciones | ||
Disclosure of information for impairment loss recognised or reversed for individual asset or cash-generating unit [line items] | ||
Total | (742,705) | 1,603,470 |
Arenque | ||
Disclosure of information for impairment loss recognised or reversed for individual asset or cash-generating unit [line items] | ||
Total | (528,440) | 0 |
Misión (CEE) | ||
Disclosure of information for impairment loss recognised or reversed for individual asset or cash-generating unit [line items] | ||
Total | (28,177) | 234,658 |
Santuario El Golpe | ||
Disclosure of information for impairment loss recognised or reversed for individual asset or cash-generating unit [line items] | ||
Total | (112,355) | 0 |
Cuenca de Macuspana | ||
Disclosure of information for impairment loss recognised or reversed for individual asset or cash-generating unit [line items] | ||
Total | (70,075) | 225,477 |
Lakach | ||
Disclosure of information for impairment loss recognised or reversed for individual asset or cash-generating unit [line items] | ||
Total | 2,905,272 | (84,404) |
Cárdenas Mora | ||
Disclosure of information for impairment loss recognised or reversed for individual asset or cash-generating unit [line items] | ||
Total | 3,805 | 0 |
Ébano (CEE) | ||
Disclosure of information for impairment loss recognised or reversed for individual asset or cash-generating unit [line items] | ||
Total | $ 0 | $ 32,483 |
Wells, Pipelines, Properties,_7
Wells, Pipelines, Properties, Plant and Equipment, Net - Assumptions to Determine NPV of Reserves (Pemex Exploration and Production) (Detail) - Pemex Exploration and Production - USD ($) | 6 Months Ended | |
Jun. 30, 2023 | Jun. 30, 2022 | |
Disclosure of significant unobservable inputs used in fair value measurement of assets [line items] | ||
Average crude oil price | $ 61.72 | $ 60.99 |
Average gas price | 4.96 | 5.09 |
Average condensates price | $ 67.57 | $ 68.27 |
After-tax discount rate | 10.42% | 7.41% |
Wells, Pipelines, Properties,_8
Wells, Pipelines, Properties, Plant and Equipment, Net - Summary of Values in Use for CGU Impairment or Reversal (Pemex Exploration and Production) (Detail) - MXN ($) $ in Thousands | 6 Months Ended | |
Jun. 30, 2023 | Jun. 30, 2022 | |
Disclosure of information for impairment loss recognised or reversed for individual asset or cash-generating unit [line items] | ||
Total | $ 156,903,875 | $ 225,977,991 |
Pemex Exploration and Production | ||
Disclosure of information for impairment loss recognised or reversed for individual asset or cash-generating unit [line items] | ||
Total | 163,480,600 | 1,289,942,972 |
Pemex Exploration and Production | Aceite Terciario del Golfo | ||
Disclosure of information for impairment loss recognised or reversed for individual asset or cash-generating unit [line items] | ||
Total | 37,276,319 | 84,116,214 |
Pemex Exploration and Production | Chuc | ||
Disclosure of information for impairment loss recognised or reversed for individual asset or cash-generating unit [line items] | ||
Total | 36,565,512 | 83,989,635 |
Pemex Exploration and Production | Tsimin Xux | ||
Disclosure of information for impairment loss recognised or reversed for individual asset or cash-generating unit [line items] | ||
Total | 27,851,730 | 29,258,331 |
Pemex Exploration and Production | Ogarrio Magallanes | ||
Disclosure of information for impairment loss recognised or reversed for individual asset or cash-generating unit [line items] | ||
Total | 24,027,128 | 18,112,667 |
Pemex Exploration and Production | Crudo Ligero Marino | ||
Disclosure of information for impairment loss recognised or reversed for individual asset or cash-generating unit [line items] | ||
Total | 17,206,881 | 33,269,762 |
Pemex Exploration and Production | Antonio J. Bermúdez | ||
Disclosure of information for impairment loss recognised or reversed for individual asset or cash-generating unit [line items] | ||
Total | 8,654,361 | 23,181,387 |
Pemex Exploration and Production | Burgos | ||
Disclosure of information for impairment loss recognised or reversed for individual asset or cash-generating unit [line items] | ||
Total | 7,399,377 | 13,200,629 |
Pemex Exploration and Production | Ixtal - Manik | ||
Disclosure of information for impairment loss recognised or reversed for individual asset or cash-generating unit [line items] | ||
Total | 6,472,463 | 20,986,390 |
Pemex Exploration and Production | Poza Rica | ||
Disclosure of information for impairment loss recognised or reversed for individual asset or cash-generating unit [line items] | ||
Total | 5,500,551 | 0 |
Pemex Exploration and Production | Arenque | ||
Disclosure of information for impairment loss recognised or reversed for individual asset or cash-generating unit [line items] | ||
Total | 4,084,877 | 6,674,267 |
Pemex Exploration and Production | Lakach | ||
Disclosure of information for impairment loss recognised or reversed for individual asset or cash-generating unit [line items] | ||
Total | 3,328,644 | 0 |
Pemex Exploration and Production | Tamaulipas Constituciones | ||
Disclosure of information for impairment loss recognised or reversed for individual asset or cash-generating unit [line items] | ||
Total | 1,931,129 | 7,233,388 |
Pemex Exploration and Production | Ku-Maloob-Zaap | ||
Disclosure of information for impairment loss recognised or reversed for individual asset or cash-generating unit [line items] | ||
Total | 0 | 724,768,145 |
Pemex Exploration and Production | Cuenca de Veracruz | ||
Disclosure of information for impairment loss recognised or reversed for individual asset or cash-generating unit [line items] | ||
Total | 0 | 142,657,247 |
Pemex Exploration and Production | Cactus Sitio Grande | ||
Disclosure of information for impairment loss recognised or reversed for individual asset or cash-generating unit [line items] | ||
Total | 0 | 38,229,203 |
Pemex Exploration and Production | Cuenca de Macuspana | ||
Disclosure of information for impairment loss recognised or reversed for individual asset or cash-generating unit [line items] | ||
Total | (83,935) | 874,044 |
Pemex Exploration and Production | Misión (CEE) | ||
Disclosure of information for impairment loss recognised or reversed for individual asset or cash-generating unit [line items] | ||
Total | (716,358) | 0 |
Pemex Exploration and Production | Cárdenas Mora | ||
Disclosure of information for impairment loss recognised or reversed for individual asset or cash-generating unit [line items] | ||
Total | (2,148,930) | 0 |
Pemex Exploration and Production | Santuario El Golpe | ||
Disclosure of information for impairment loss recognised or reversed for individual asset or cash-generating unit [line items] | ||
Total | (2,412,398) | 0 |
Pemex Exploration and Production | Cantarell | ||
Disclosure of information for impairment loss recognised or reversed for individual asset or cash-generating unit [line items] | ||
Total | $ (11,456,751) | $ 63,391,663 |
Wells, Pipelines, Properties,_9
Wells, Pipelines, Properties, Plant and Equipment, Net - Summary of Net Impairment by CGUs (Pemex Industrial Transformation) (Detail) - Pemex Industrial Transformation - MXN ($) $ in Thousands | 6 Months Ended | |
Jun. 30, 2023 | Jun. 30, 2022 | |
Disclosure of information for impairment loss recognised or reversed for individual asset or cash-generating unit [line items] | ||
Total | $ (6,548,396) | $ 40,823,408 |
Madero Refinery | ||
Disclosure of information for impairment loss recognised or reversed for individual asset or cash-generating unit [line items] | ||
Total | (10,210,354) | 14,750,919 |
Minatitlán Refinery | ||
Disclosure of information for impairment loss recognised or reversed for individual asset or cash-generating unit [line items] | ||
Total | (4,558,203) | 32,560,935 |
Cosoleacaque Petrochemicals Complex | ||
Disclosure of information for impairment loss recognised or reversed for individual asset or cash-generating unit [line items] | ||
Total | (1,301,741) | (1,090,260) |
Burgos Gas Processor Complex | ||
Disclosure of information for impairment loss recognised or reversed for individual asset or cash-generating unit [line items] | ||
Total | (808,931) | 0 |
Matapionche Gas Processor Complex | ||
Disclosure of information for impairment loss recognised or reversed for individual asset or cash-generating unit [line items] | ||
Total | (156,642) | 0 |
Arenque Gas Processor Complex | ||
Disclosure of information for impairment loss recognised or reversed for individual asset or cash-generating unit [line items] | ||
Total | (104,647) | 0 |
Tula Refinery | ||
Disclosure of information for impairment loss recognised or reversed for individual asset or cash-generating unit [line items] | ||
Total | 0 | 9,830,444 |
Pajaritos Petrochemical Complex | ||
Disclosure of information for impairment loss recognised or reversed for individual asset or cash-generating unit [line items] | ||
Total | 0 | 31,633 |
Nuevo Poza Rica Gas Processor Complex | ||
Disclosure of information for impairment loss recognised or reversed for individual asset or cash-generating unit [line items] | ||
Total | 0 | (2,294,830) |
Poza Rica Gas Processor Complex | ||
Disclosure of information for impairment loss recognised or reversed for individual asset or cash-generating unit [line items] | ||
Total | 28,342 | 0 |
Cangrejera Petrochemical Complex | ||
Disclosure of information for impairment loss recognised or reversed for individual asset or cash-generating unit [line items] | ||
Total | 524,059 | (5,443,028) |
Nuevo Pemex Gas Processor Complex | ||
Disclosure of information for impairment loss recognised or reversed for individual asset or cash-generating unit [line items] | ||
Total | 1,080,820 | 0 |
Morelos Petrochemical Complex | ||
Disclosure of information for impairment loss recognised or reversed for individual asset or cash-generating unit [line items] | ||
Total | 3,208,249 | (7,522,405) |
Salamanca Refinery | ||
Disclosure of information for impairment loss recognised or reversed for individual asset or cash-generating unit [line items] | ||
Total | $ 5,750,652 | $ 0 |
Wells, Pipelines, Properties_10
Wells, Pipelines, Properties, Plant and Equipment, Net - Assumptions to Determine NPV of Cash Flows (Details) - Pemex Industrial Transformation | 6 Months Ended | 12 Months Ended | |
Jun. 30, 2023 USD ($) Exchange_Rate billionCubicMetersPerDay MMBbls | Jun. 30, 2022 USD ($) Exchange_Rate MMBbls billionCubicMetersPerDay | Dec. 31, 2022 MXN ($) | |
Disclosure of detailed information about property, plant and equipment [line items] | |||
Rate of U.S.$ | 0.1410 | 0.1416 | |
Refining | |||
Disclosure of detailed information about property, plant and equipment [line items] | |||
Average crude oil Price (U.S.$) | $ | $ 75.2 | $ 100.15 | |
Processed volume | MMBbls | 903 | 889 | |
Rate of U.S.$ | 17.0720 | 19.9847 | |
Useful lives of the cash-generating units (year average) | 11 years | 12 years | |
Pre-tax discount rate | 14.10% | 10.59% | |
Gas | |||
Disclosure of detailed information about property, plant and equipment [line items] | |||
Processed volume | billionCubicMetersPerDay | 2,575 | 2,148 | |
Rate of U.S.$ | 17.0720 | 19.9847 | |
Useful lives of the cash-generating units (year average) | 6 years | 7 years | |
Pre-tax discount rate | 13.26% | 10.62% | |
Petrochemicals | |||
Disclosure of detailed information about property, plant and equipment [line items] | |||
Rate of U.S.$ | 17.0720 | 19.9847 | |
Useful lives of the cash-generating units (year average) | 5 years | 5 years | |
Pre-tax discount rate | 10.46% | 8.82% | |
Ethylene | |||
Disclosure of detailed information about property, plant and equipment [line items] | |||
Rate of U.S.$ | 17.0720 | 19.9847 | |
Useful lives of the cash-generating units (year average) | 5 years | 5 years | |
Pre-tax discount rate | 10.46% | 8.82% | |
Fertilizers | |||
Disclosure of detailed information about property, plant and equipment [line items] | |||
Rate of U.S.$ | 17.0720 | 19.9847 | |
Useful lives of the cash-generating units (year average) | 5 years | 5 years | |
Pre-tax discount rate | 13.05% | 10.49% |
Wells, Pipelines, Properties_11
Wells, Pipelines, Properties, Plant And Equipment, Net - Impairment of Fixed Assets (Detail) - MXN ($) $ in Thousands | 6 Months Ended | |
Jun. 30, 2023 | Jun. 30, 2022 | |
Disclosure of information for impairment loss recognised or reversed for individual asset or cash-generating unit [line items] | ||
Total | $ 156,903,875 | $ 225,977,991 |
Tula Refinery | ||
Disclosure of information for impairment loss recognised or reversed for individual asset or cash-generating unit [line items] | ||
Total | 55,664,585 | 73,772,599 |
Salina Cruz Refinery | ||
Disclosure of information for impairment loss recognised or reversed for individual asset or cash-generating unit [line items] | ||
Total | 44,338,748 | 80,118,065 |
Salamanca Refinery | ||
Disclosure of information for impairment loss recognised or reversed for individual asset or cash-generating unit [line items] | ||
Total | 28,617,019 | 0 |
Nuevo Pemex Gas Processor Complex | ||
Disclosure of information for impairment loss recognised or reversed for individual asset or cash-generating unit [line items] | ||
Total | 27,965,299 | 0 |
Morelos Petrochemical Complex | ||
Disclosure of information for impairment loss recognised or reversed for individual asset or cash-generating unit [line items] | ||
Total | 2,969,979 | 0 |
Burgos Gas Processor Complex | ||
Disclosure of information for impairment loss recognised or reversed for individual asset or cash-generating unit [line items] | ||
Total | 965,475 | 0 |
Cosoleacaque Petrochemicals Complex | ||
Disclosure of information for impairment loss recognised or reversed for individual asset or cash-generating unit [line items] | ||
Total | 858,643 | 0 |
Madero Refinery | ||
Disclosure of information for impairment loss recognised or reversed for individual asset or cash-generating unit [line items] | ||
Total | 730,425 | 17,085,340 |
Minatitlán Refinery | ||
Disclosure of information for impairment loss recognised or reversed for individual asset or cash-generating unit [line items] | ||
Total | (3,168,068) | 53,497,755 |
Poza Rica Gas Processor Complex | ||
Disclosure of information for impairment loss recognised or reversed for individual asset or cash-generating unit [line items] | ||
Total | $ (2,038,230) | $ 1,504,232 |
Intangible Assets, Net - Additi
Intangible Assets, Net - Additional Information (Detail) - MXN ($) $ in Thousands | 6 Months Ended | ||
Jun. 30, 2023 | Jun. 30, 2022 | Dec. 31, 2022 | |
Disclosure of detailed information about intangible assets [abstract] | |||
Intangible assets | $ 22,622,380 | $ 30,024,934 | |
Expenses related to unsuccessful wells | $ 17,105,924 | $ 11,256,526 |
Intangible Assets, Net - Schedu
Intangible Assets, Net - Schedule of Intangible Assets (Detail) - MXN ($) $ in Thousands | 6 Months Ended | |
Jun. 30, 2023 | Jun. 30, 2022 | |
Wells unassigned to a reserve: | ||
Balance at the beginning of the year | $ 30,024,934 | |
Balance at the end of the period | 22,622,380 | |
Wells unassigned to a reserve: | ||
Wells unassigned to a reserve: | ||
Balance at the beginning of the year | 28,388,655 | $ 18,639,136 |
Additions to construction in progress | 18,994,442 | 13,421,438 |
Transfers against expenses | (15,667,953) | (4,539,894) |
Transfers against fixed assets | (10,669,293) | (3,513,868) |
Balance at the end of the period | $ 21,045,851 | $ 24,006,812 |
Intangible Assets, Net - Sche_2
Intangible Assets, Net - Schedule of Other Components of Intangible Assets (Detail) - MXN ($) $ in Thousands | 6 Months Ended | |
Jun. 30, 2023 | Jun. 30, 2022 | |
Other intangible assets | ||
Balance at the beginning of the year | $ 30,024,934 | |
Amortization | (196,096) | $ (129,615) |
Balance at the end of the period | 22,622,380 | |
Other intangible assets | Total carrying amount | ||
Other intangible assets | ||
Balance at the beginning of the year | 1,636,280 | 1,377,010 |
Additions | 297,387 | 1,774,478 |
Effects of foreign exchange | (161,042) | 19,659 |
Balance at the end of the period | 1,576,529 | 3,041,532 |
Other intangible assets | Accumulated depreciation and amortization | ||
Other intangible assets | ||
Amortization | $ (196,096) | $ (129,615) |
Government Bonds, Long-Term N_3
Government Bonds, Long-Term Notes Receivable And Other Assets - Summary of Balance of Government Bonds (Detail) - Government Bonds - MXN ($) $ in Thousands | Jun. 30, 2023 | Dec. 31, 2022 |
Disclosure Of Notes Receivable Government Bonds And Other Non Current Assets [Line Items] | ||
Government bonds | $ 82,098,172 | $ 110,179,517 |
Less: current portion of Government Bonds, net of expected credit losses | 29,229,148 | 46,526,257 |
Total long-term of Government bonds | 52,869,024 | 63,653,260 |
Expected credit losses | $ 9,717 | $ 9,717 |
Government Bonds, Long-Term N_4
Government Bonds, Long-Term Notes Receivable And Other Assets - Additional Information (Detail) $ in Thousands | 6 Months Ended | 12 Months Ended | |||
Nov. 20, 2020 MXN ($) | Jun. 30, 2023 MXN ($) series | Jun. 30, 2022 MXN ($) | Dec. 31, 2022 MXN ($) series | Nov. 19, 2020 MXN ($) | |
Disclosure Of Notes Receivable Government Bonds And Other Non Current Assets [Line Items] | |||||
Long-term debt, net of current portion | $ 1,370,161,140 | $ 1,625,516,313 | |||
Financial arrangement, term | 3 years | ||||
Long-term notes receivables | 1,372,338 | 1,334,126 | |||
Value added tax payables | 759,834 | 783,999 | |||
Mexican Government | |||||
Disclosure Of Notes Receivable Government Bonds And Other Non Current Assets [Line Items] | |||||
Interest income | 4,547,770 | $ 3,411,432 | |||
Government Bonds | |||||
Disclosure Of Notes Receivable Government Bonds And Other Non Current Assets [Line Items] | |||||
Principal amount of debt | 75,586,279 | 89,739,938 | $ 128,786,611 | ||
Long-term debt, net of current portion | 76,360,199 | 90,577,596 | $ 95,597,610 | ||
Fair value of the transferred assets | 80,144,423 | 108,062,414 | |||
Fair value of associated financial liabilities | 60,005,770 | 82,372,990 | |||
Fair value of transferred financial assets and associated financial liabilities, net | 20,138,653 | 25,689,424 | |||
Interest | 773,920 | 837,658 | |||
Government Bonds | Seventeen Series of Development Bonds | |||||
Disclosure Of Notes Receivable Government Bonds And Other Non Current Assets [Line Items] | |||||
Notional amount | $ 913,482 | $ 913,482 | |||
Number of series of development bonds | series | 17 | ||||
Government Bonds | Sixteen Series of Development Bonds | |||||
Disclosure Of Notes Receivable Government Bonds And Other Non Current Assets [Line Items] | |||||
Number of series of development bonds | series | 16 | ||||
Financial assets at amortised cost | $ 74,590,611 | $ 102,492,032 | |||
Government Bonds | Financing income | |||||
Disclosure Of Notes Receivable Government Bonds And Other Non Current Assets [Line Items] | |||||
Interest income | $ 3,985,217 | $ 3,457,960 | |||
Government Bonds | Three Year Financing Arrangement | |||||
Disclosure Of Notes Receivable Government Bonds And Other Non Current Assets [Line Items] | |||||
Notional amount | $ 95,597,610 | ||||
Interest rate | 8.56275% |
Government Bonds, Long-Term N_5
Government Bonds, Long-Term Notes Receivable And Other Assets - Summary of Roll forward of the Mexican Bonds (Detail) - Mexican Bonds - Mexican Government - MXN ($) $ in Thousands | 6 Months Ended | |
Jun. 30, 2023 | Jun. 30, 2022 | |
Disclosure of Roll Forward Related to the Promissory Notes [Roll Forward] | ||
Balance as of the beginning of the year | $ 110,179,517 | $ 110,855,356 |
Government Bonds collected | (27,901,421) | 0 |
Accrued interests | 3,985,217 | 3,457,960 |
Interests received from bonds | (4,547,770) | (3,411,432) |
Impact of the valuation of bonds in UDIs | 109,585 | 231,371 |
Amortized cost | 270,498 | 144,580 |
Reversal of impairment (impairment) of bonds | 2,546 | (1,472) |
Balance at the end of the period | $ 82,098,172 | $ 111,276,363 |
Government Bonds, Long-Term N_6
Government Bonds, Long-Term Notes Receivable And Other Assets - Summary of Other Assets (Detail) - MXN ($) $ in Thousands | Jun. 30, 2023 | Dec. 31, 2022 |
Disclosure Of Notes Receivable Government Bonds And Other Long Term Assets [Abstract] | ||
Payments in advance | $ 16,791,154 | $ 26,515,825 |
Other | 3,337,753 | 2,565,824 |
Insurance | 1,612,105 | 1,621,076 |
Total other assets | $ 21,741,012 | $ 30,702,725 |
Debt - Additional Information (
Debt - Additional Information (Detail) $ in Thousands, $ in Thousands | 6 Months Ended | |||||||||||||||||||||||||||||
Jun. 28, 2023 MXN ($) | Jun. 15, 2023 MXN ($) | Jun. 02, 2023 MXN ($) | May 24, 2023 MXN ($) | May 15, 2023 MXN ($) | Apr. 28, 2023 MXN ($) | Apr. 27, 2023 MXN ($) | Feb. 28, 2023 USD ($) | Feb. 24, 2023 MXN ($) | Feb. 22, 2023 MXN ($) | Feb. 17, 2023 USD ($) | Feb. 01, 2023 MXN ($) | Jan. 31, 2023 MXN ($) | Jan. 27, 2023 MXN ($) | Jan. 23, 2023 USD ($) | Jan. 13, 2023 MXN ($) | Jan. 06, 2023 USD ($) | Jun. 30, 2023 MXN ($) | Jun. 30, 2023 USD ($) | Jun. 30, 2022 MXN ($) | Jun. 30, 2023 USD ($) | Mar. 28, 2023 MXN ($) | Mar. 16, 2023 USD ($) | Mar. 13, 2023 USD ($) | Jan. 31, 2023 USD ($) | Jan. 27, 2023 USD ($) | Dec. 31, 2022 MXN ($) | Dec. 31, 2022 USD ($) | Nov. 12, 2021 MXN ($) | Nov. 12, 2021 USD ($) | |
Disclosure of long term debt [Line Items] | ||||||||||||||||||||||||||||||
Domestic net debt | $ 27,068,400 | |||||||||||||||||||||||||||||
External net debt | $ 142,200 | |||||||||||||||||||||||||||||
Borrowings | $ 1,621,807,044 | $ 1,853,421,785 | ||||||||||||||||||||||||||||
Line of credit | $ 7,664,000 | |||||||||||||||||||||||||||||
Outstanding of revolving credit lines | 132,520 | |||||||||||||||||||||||||||||
Revolving credit facility amount | 511,209 | |||||||||||||||||||||||||||||
Repayment of revolving credit lines | 436,838,825 | $ 541,555 | $ 565,601,629 | |||||||||||||||||||||||||||
PMI Trading Ltd | ||||||||||||||||||||||||||||||
Disclosure of long term debt [Line Items] | ||||||||||||||||||||||||||||||
Outstanding of revolving credit lines | $ 162,866 | |||||||||||||||||||||||||||||
Revolving credit facility available | $ 92,480 | |||||||||||||||||||||||||||||
Promissory Note | Twenty Eight Days TIIE Plus 365 Basis Point | ||||||||||||||||||||||||||||||
Disclosure of long term debt [Line Items] | ||||||||||||||||||||||||||||||
Borrowings | $ 4,000,000 | |||||||||||||||||||||||||||||
Maturity | 28-day | |||||||||||||||||||||||||||||
Interest rate basis spread | 36,500% | |||||||||||||||||||||||||||||
Promissory Note | Twenty Eight Days TIIE Plus 275 Basis Point | ||||||||||||||||||||||||||||||
Disclosure of long term debt [Line Items] | ||||||||||||||||||||||||||||||
Borrowings | $ 3,000,000 | $ 4,000,000 | ||||||||||||||||||||||||||||
Maturity | 28-day | 28-day | ||||||||||||||||||||||||||||
Interest rate basis spread | 27,500% | 27,500% | 27,500% | |||||||||||||||||||||||||||
Promissory Note | Bond Coupon 10.00% Rate | ||||||||||||||||||||||||||||||
Disclosure of long term debt [Line Items] | ||||||||||||||||||||||||||||||
Borrowings | $ 125,000 | |||||||||||||||||||||||||||||
Coupon rate | 10% | |||||||||||||||||||||||||||||
Bonds issued | $ 2,000,000 | |||||||||||||||||||||||||||||
Promissory Note | Thirty Days SOFR Plus 175 Basis Point | ||||||||||||||||||||||||||||||
Disclosure of long term debt [Line Items] | ||||||||||||||||||||||||||||||
Borrowings | $ 11,362 | |||||||||||||||||||||||||||||
Maturity | 30-day | |||||||||||||||||||||||||||||
Interest rate basis spread | 17,500% | |||||||||||||||||||||||||||||
Promissory Note | Twenty Eight Days TIIE Plus 200 Basis Points | ||||||||||||||||||||||||||||||
Disclosure of long term debt [Line Items] | ||||||||||||||||||||||||||||||
Borrowings | $ 3,000,000 | $ 2,000,000 | ||||||||||||||||||||||||||||
Maturity | 28-day | 28-day | ||||||||||||||||||||||||||||
Interest rate basis spread | 20,000% | 20,000% | ||||||||||||||||||||||||||||
Promissory Note | Twenty Eight Days TIIE Plus 235 Basis Points | ||||||||||||||||||||||||||||||
Disclosure of long term debt [Line Items] | ||||||||||||||||||||||||||||||
Borrowings | $ 250,000 | |||||||||||||||||||||||||||||
Maturity | 28-day | |||||||||||||||||||||||||||||
Interest rate basis spread | 23,500% | |||||||||||||||||||||||||||||
Promissory Note | Twenty Eight Days TIIE Plus 360 Basis Points | ||||||||||||||||||||||||||||||
Disclosure of long term debt [Line Items] | ||||||||||||||||||||||||||||||
Borrowings | $ 3,000,000 | |||||||||||||||||||||||||||||
Maturity | 28-day | |||||||||||||||||||||||||||||
Interest rate basis spread | 3.60% | |||||||||||||||||||||||||||||
Promissory Note | Fixed Rate 10.375% | ||||||||||||||||||||||||||||||
Disclosure of long term debt [Line Items] | ||||||||||||||||||||||||||||||
Borrowings | $ 537,500 | $ 200,000 | ||||||||||||||||||||||||||||
Interest rate | 10.375% | 10.375% | ||||||||||||||||||||||||||||
Promissory Note | Twenty Eight TIIE Plus 240 Basis Points | ||||||||||||||||||||||||||||||
Disclosure of long term debt [Line Items] | ||||||||||||||||||||||||||||||
Borrowings | $ 1,500,000 | |||||||||||||||||||||||||||||
Maturity | 28-day | |||||||||||||||||||||||||||||
Interest rate basis spread | 24,000% | |||||||||||||||||||||||||||||
Credit Line | ||||||||||||||||||||||||||||||
Disclosure of long term debt [Line Items] | ||||||||||||||||||||||||||||||
Line of credit maximum borrowing capacity | $ 5,000,000 | |||||||||||||||||||||||||||||
Credit Line | Ninety Days SOFR Plus 300 Basis Point | ||||||||||||||||||||||||||||||
Disclosure of long term debt [Line Items] | ||||||||||||||||||||||||||||||
Line of credit maximum borrowing capacity | $ 50,000 | |||||||||||||||||||||||||||||
Maturity | 90-day | |||||||||||||||||||||||||||||
Interest rate basis spread | 30,000% | |||||||||||||||||||||||||||||
Credit Line | Ninety Day SOFR Plus 350 Basis Point | ||||||||||||||||||||||||||||||
Disclosure of long term debt [Line Items] | ||||||||||||||||||||||||||||||
Line of credit maximum borrowing capacity | $ 750,000 | |||||||||||||||||||||||||||||
Maturity | 90-day | |||||||||||||||||||||||||||||
Interest rate basis spread | 35,000% | |||||||||||||||||||||||||||||
Credit Line | Ninety Days Plus 26 Basis Point | ||||||||||||||||||||||||||||||
Disclosure of long term debt [Line Items] | ||||||||||||||||||||||||||||||
Interest rate basis spread | 2,600% | |||||||||||||||||||||||||||||
Credit Line | Ninety One Days TIIE Plus 310 Basis Point | ||||||||||||||||||||||||||||||
Disclosure of long term debt [Line Items] | ||||||||||||||||||||||||||||||
Line of credit maximum borrowing capacity | $ 4,000,000 | |||||||||||||||||||||||||||||
Maturity | 91-day | |||||||||||||||||||||||||||||
Interest rate basis spread | 31,000% | 31,000% | ||||||||||||||||||||||||||||
Credit Line | Ninety One Days TIIE Plus 320 Basis Points | ||||||||||||||||||||||||||||||
Disclosure of long term debt [Line Items] | ||||||||||||||||||||||||||||||
Line of credit maximum borrowing capacity | $ 2,000,000 | |||||||||||||||||||||||||||||
Maturity | 91-day | |||||||||||||||||||||||||||||
Interest rate basis spread | 3.20% | |||||||||||||||||||||||||||||
Credit Line | Ninety One Days TIIE Plus 325 Basis Point | ||||||||||||||||||||||||||||||
Disclosure of long term debt [Line Items] | ||||||||||||||||||||||||||||||
Line of credit maximum borrowing capacity | $ 3,000,000 | |||||||||||||||||||||||||||||
Maturity | 91-day | |||||||||||||||||||||||||||||
Interest rate basis spread | 3.25% | |||||||||||||||||||||||||||||
Credit Line | Twenty Eight Days TIIE Plus 200 Basis Points | ||||||||||||||||||||||||||||||
Disclosure of long term debt [Line Items] | ||||||||||||||||||||||||||||||
Maturity | 28-day | |||||||||||||||||||||||||||||
Interest rate basis spread | 20,000% | |||||||||||||||||||||||||||||
Revolving credit maximum borrowing capacity | $ 19,000,000 | |||||||||||||||||||||||||||||
Credit Line | Ninety Days SOFR Plus 450 Basis Point | ||||||||||||||||||||||||||||||
Disclosure of long term debt [Line Items] | ||||||||||||||||||||||||||||||
Line of credit maximum borrowing capacity | $ 150,000 | |||||||||||||||||||||||||||||
Maturity | 90-day | |||||||||||||||||||||||||||||
Interest rate basis spread | 4.50% | |||||||||||||||||||||||||||||
Credit Line | Ninety One Days TIIE Plus 350 Basis Point | ||||||||||||||||||||||||||||||
Disclosure of long term debt [Line Items] | ||||||||||||||||||||||||||||||
Borrowings | $ 2,000,000 | |||||||||||||||||||||||||||||
Maturity | 91-day | |||||||||||||||||||||||||||||
Interest rate basis spread | 35,000% | |||||||||||||||||||||||||||||
Credit Line | Ninety One Days TIIE Plus 340 Basis Point | ||||||||||||||||||||||||||||||
Disclosure of long term debt [Line Items] | ||||||||||||||||||||||||||||||
Borrowings | $ 2,000,000 | |||||||||||||||||||||||||||||
Maturity | 91-day | |||||||||||||||||||||||||||||
Interest rate basis spread | 34,000% | |||||||||||||||||||||||||||||
Credit Line | Ninety One Days TIIE Plus 350 Basis Point, Maturing November 2023 | ||||||||||||||||||||||||||||||
Disclosure of long term debt [Line Items] | ||||||||||||||||||||||||||||||
Borrowings | $ 2,500,000 | |||||||||||||||||||||||||||||
Maturity | 91-day | |||||||||||||||||||||||||||||
Interest rate basis spread | 35,000% | |||||||||||||||||||||||||||||
Credit Line | Ninety One Days TIIE Plus 350 Basis Point, Maturing October 2023 | ||||||||||||||||||||||||||||||
Disclosure of long term debt [Line Items] | ||||||||||||||||||||||||||||||
Borrowings | $ 2,000,000 | |||||||||||||||||||||||||||||
Maturity | 91-day | |||||||||||||||||||||||||||||
Interest rate basis spread | 35,000% | |||||||||||||||||||||||||||||
Lines Of Credit | ||||||||||||||||||||||||||||||
Disclosure of long term debt [Line Items] | ||||||||||||||||||||||||||||||
Line of credit | 29,500,000 | |||||||||||||||||||||||||||||
Available credit lines | $ 4,000 | |||||||||||||||||||||||||||||
Monetization of Mexican Government Bonds | ||||||||||||||||||||||||||||||
Disclosure of long term debt [Line Items] | ||||||||||||||||||||||||||||||
Borrowings | $ 9,225,000 | |||||||||||||||||||||||||||||
Promissory Notes | Twenty Eight Days TIIE Plus 240 Basis Points | ||||||||||||||||||||||||||||||
Disclosure of long term debt [Line Items] | ||||||||||||||||||||||||||||||
Borrowings | $ 3,000,000 | |||||||||||||||||||||||||||||
Maturity | 28-day | |||||||||||||||||||||||||||||
Interest rate basis spread | 24,000% |
Debt - Summary of Changes in Co
Debt - Summary of Changes in Consolidated Debt (Detail) - MXN ($) $ in Thousands | 6 Months Ended | 12 Months Ended | ||
Jun. 30, 2023 | Jun. 30, 2022 | Dec. 31, 2022 | Dec. 31, 2021 | |
Disclosure of Roll Forward Related to the Promissory Notes [Roll Forward] | ||||
Debt issue related costs | $ 164,064 | $ 212,540 | ||
Expense related to issuance of debt | (984,320) | (355,978) | ||
Amortized cost | 1,310,414 | 5,314,601 | ||
Financed public works contracts | ||||
Disclosure of Roll Forward Related to the Promissory Notes [Roll Forward] | ||||
At the beginning of the year | $ 2,091,463,996 | $ 2,249,695,894 | ||
Loans obtained-financing institutions | 431,659,853 | 555,341,258 | ||
Debt payments | (436,838,825) | (565,601,629) | ||
Accrued interest | 75,414,835 | 64,077,989 | ||
Interest paid | (75,009,928) | (67,056,203) | ||
Foreign exchange | (200,072,975) | (76,258,744) | ||
At the end of the period | $ 1,886,616,956 | $ 2,160,198,565 |
Debt - Summary of Foreign Curre
Debt - Summary of Foreign Currency Translation (Detail) - MXN ($) | Jun. 30, 2023 | Dec. 31, 2022 | Jun. 30, 2022 |
Disclosure of long term debt [Line Items] | |||
Borrowings | $ 1,621,807,044,000 | $ 1,853,421,785,000 | |
U.S. dollar | |||
Disclosure of long term debt [Line Items] | |||
Closing foreign exchange rate | 17.0720 | $ 19.9847 | |
Japanese yen | |||
Disclosure of long term debt [Line Items] | |||
Closing foreign exchange rate | 0.1183 | 0.1466 | |
Pounds sterling | |||
Disclosure of long term debt [Line Items] | |||
Closing foreign exchange rate | 21.5977 | 24.3531 | |
Euro | |||
Disclosure of long term debt [Line Items] | |||
Closing foreign exchange rate | 18.6443 | 21.0219 | |
Swiss francs | |||
Disclosure of long term debt [Line Items] | |||
Closing foreign exchange rate | $ 19.0535 | $ 20.8880 |
Provisions for Sundry Credito_3
Provisions for Sundry Creditors - Summary of Provisions for Sundry Creditors and Others (Detail) - MXN ($) $ in Thousands | Jun. 30, 2023 | Dec. 31, 2022 |
Disclosure of other provisions [abstract] | ||
Provision for plugging of wells (Note 13) | $ 60,915,126 | $ 66,699,388 |
Provision for trails in process (Note 19) | 9,340,511 | 10,533,137 |
Provision for environmental costs | 12,320,339 | 11,914,160 |
Provisions | $ 82,575,976 | $ 89,146,685 |
Equity (Deficit) - Additional I
Equity (Deficit) - Additional Information (Detail) $ in Thousands | 3 Months Ended | 6 Months Ended | 12 Months Ended | ||||||
Jan. 20, 2022 | Jun. 30, 2023 MXN ($) | Jun. 30, 2022 MXN ($) | Jun. 30, 2023 MXN ($) | Jun. 30, 2023 USD ($) | Jun. 30, 2022 MXN ($) | Dec. 31, 2022 MXN ($) | Jun. 30, 2023 USD ($) | Dec. 31, 2021 | |
Disclosure of equity [line items] | |||||||||
Capital contributions for construction of refinery | $ 6,000,000 | ||||||||
Capital contributions for strengthening of financial position | 1,200,000 | ||||||||
Capital contributions for rehabilitation plan | $ 10,500,000 | ||||||||
Increase decrease through proceeds from FONADIN grants | $ 23,000,000 | $ 23,000,000 | |||||||
Percentage of discount and return on plan asset | 9.21% | 9.40% | 9.21% | 9.40% | 9.39% | 9.21% | 8.46% | ||
Total comprehensive income | $ 1,423,848 | $ 283,171,953 | $ 29,903,772 | $ 386,885,779 | |||||
Post-employment benefit expense, defined benefit plans | (10,556,152) | ||||||||
Net income (loss) during the period | 82,159,155 | 247,649,107 | |||||||
Negative equity amount | (1,721,218,453) | (1,721,218,453) | $ (1,768,822,225) | ||||||
Negative working capital | 517,157,488 | 401,842,480 | |||||||
Negative budget financial balance | 0 | ||||||||
Bank indebtedness | 29,912,400 | 29,912,400 | |||||||
Short- term debt principal maturities | 516,455,816 | $ 516,455,816 | |||||||
Percentage of share profit duty | 40% | 40% | |||||||
Equity contributions | $ 17,700,000 | 90,437,539 | |||||||
Borrowings | 1,621,807,044 | 1,621,807,044 | 1,853,421,785 | ||||||
Indebtedness that may be used to partially cover financial balance in next year | 27,068,400 | 27,068,400 | $ 142,200,000 | ||||||
Crude oil price per barrel | $ 68.7 | ||||||||
Gain (loss) on non-controlling interest | (326,135) | $ (288,610) | |||||||
Actuarial (losses) gains on employee benefits effect | Accumulated other comprehensive result | |||||||||
Disclosure of equity [line items] | |||||||||
Total comprehensive income | $ 158,392,790 | ||||||||
Two Thousand And Twenty Three Notes | |||||||||
Disclosure of equity [line items] | |||||||||
Borrowings | $ 41,200,000 | 41,200,000 | |||||||
Deer Park Refining Limited | |||||||||
Disclosure of equity [line items] | |||||||||
Acquired percentage | 50.005% | 50.005% | |||||||
Contributions A | |||||||||
Disclosure of equity [line items] | |||||||||
Increase in certificates of contribution | $ 17,700,000 | $ 188,306,717 | |||||||
Capital contributions for construction of refinery | 129,018,286 | ||||||||
Capital contributions for strengthening of financial position | 45,437,539 | ||||||||
Capital contributions for rehabilitation plan | $ 13,850,892 |
Equity (Deficit) - Summary of C
Equity (Deficit) - Summary of Certificate of Contribution "A" (Detail) - Contributions A - MXN ($) $ in Thousands | 6 Months Ended | 12 Months Ended |
Jun. 30, 2023 | Dec. 31, 2022 | |
Disclosure of equity [line items] | ||
Certificates of Contribution, Beginning Balance | $ 1,029,592,293 | $ 841,285,576 |
Increase in certificates of contribution | 17,700,000 | 188,306,717 |
Certificates of Contribution, Ending Balance | $ 1,047,292,293 | $ 1,029,592,293 |
Equity (Deficit) - Summary of G
Equity (Deficit) - Summary of Government Contributions to Petroleos Mexicanos through the Ministry of Energy (Detail) - MXN ($) $ in Thousands | 6 Months Ended | 12 Months Ended |
Jun. 30, 2023 | Dec. 31, 2022 | |
Disclosure of government contributions [line item] | ||
Construction of the Olmeca Refinery | $ 6,000,000 | |
Strengthening of Fertilizers chain | 1,200,000 | |
Rehabilitation Plan of the refineries | 10,500,000 | |
Contributions A | ||
Disclosure of government contributions [line item] | ||
Construction of the Olmeca Refinery | $ 129,018,286 | |
Strengthening of Fertilizers chain | 45,437,539 | |
Rehabilitation Plan of the refineries | 13,850,892 | |
Increase in certificates of contribution | 17,700,000 | $ 188,306,717 |
January 19 | ||
Disclosure of government contributions [line item] | ||
Strengthening of Fertilizers chain | 600,000 | |
January 30 | ||
Disclosure of government contributions [line item] | ||
Strengthening of Fertilizers chain | 600,000 | |
February 23 | ||
Disclosure of government contributions [line item] | ||
Construction of the Olmeca Refinery | 6,000,000 | |
March 16 | ||
Disclosure of government contributions [line item] | ||
Rehabilitation Plan of the refineries | $ 10,500,000 |
Contingencies - Additional Info
Contingencies - Additional Information (Detail) $ in Thousands, $ in Thousands | 12 Months Ended | |||||||||
Feb. 17, 2022 USD ($) | Oct. 18, 2019 USD ($) | Jan. 14, 2019 MXN ($) | Jan. 14, 2019 USD ($) | Apr. 04, 2011 USD ($) | Dec. 31, 2019 MXN ($) | Jun. 30, 2023 MXN ($) | Dec. 31, 2022 MXN ($) | Sep. 09, 2022 MXN ($) | Nov. 24, 2021 MXN ($) | |
Disclosure of contingent liabilities [line items] | ||||||||||
Accrued reserve on contingent liabilities | $ 9,340,511 | $ 10,533,137 | ||||||||
Legal proceedings damage sought by plaintiffs | $ 193,713 | |||||||||
Termination Resolution January 14 2019 | ||||||||||
Disclosure of contingent liabilities [line items] | ||||||||||
Accrued reserve on contingent liabilities | $ 51,454 | |||||||||
Contingent Liability for Public Works Contract | ||||||||||
Disclosure of contingent liabilities [line items] | ||||||||||
Legal proceedings damage sought by plaintiffs | $ 137,300 | |||||||||
Administrative Claim | Pemex Industrial Transformation | ||||||||||
Disclosure of contingent liabilities [line items] | ||||||||||
Legal proceedings damage sought by plaintiffs | $ 240,488 | $ 14,607 | $ 113,582 | $ 2,009,598 | ||||||
Tax Contingent Liability | Pemex Industrial Transformation | ||||||||||
Disclosure of contingent liabilities [line items] | ||||||||||
Accrued reserve on contingent liabilities | $ 5,852,222 | $ 3,084,975 |
Subsequent Events - Additional
Subsequent Events - Additional Information (Detail) bbl in Thousands, $ in Thousands, $ in Thousands | 1 Months Ended | 2 Months Ended | 6 Months Ended | ||||||||||||
Aug. 31, 2023 MXN ($) $ / bbl | Aug. 31, 2023 USD ($) Exchange_Rate $ / bbl | Aug. 28, 2023 MXN ($) | Aug. 10, 2023 MXN ($) | Jul. 26, 2023 MXN ($) | Jul. 21, 2023 USD ($) | Jul. 09, 2023 bbl | Jul. 07, 2023 employee contractor h bbl | Apr. 28, 2023 MXN ($) | Jan. 06, 2023 | Aug. 30, 2023 MXN ($) | Aug. 31, 2023 USD ($) Exchange_Rate | Jun. 30, 2023 MXN ($) Exchange_Rate $ / bbl | Jun. 30, 2023 USD ($) Exchange_Rate | Dec. 31, 2022 MXN ($) | |
Disclosure of non-adjusting events after reporting period [line items] | |||||||||||||||
Bank indebtedness | $ 29,912,400 | ||||||||||||||
Borrowings | $ 1,621,807,044 | $ 1,853,421,785 | |||||||||||||
Currency exchange rate | Exchange_Rate | 17.0720 | 17.0720 | |||||||||||||
Average prices of crude oil exports | $ / bbl | 65.14 | ||||||||||||||
Percetnage of increase in crude oil price | 22.80% | ||||||||||||||
Subsequent event | |||||||||||||||
Disclosure of non-adjusting events after reporting period [line items] | |||||||||||||||
Proceeds from revolving credit lines | $ 48,174 | ||||||||||||||
Repayments of revolving credit lines | 36,087 | ||||||||||||||
Revolving credit facility available | $ 4,000 | $ 4,000 | |||||||||||||
Obtain of revolving credit lines | $ 29,500,000 | $ 7,664,000 | |||||||||||||
Currency exchange rate | Exchange_Rate | 16.8402 | 16.8402 | |||||||||||||
Appreciation of the value of the peso in U.S. dollars terms | 1.40% | 1.40% | |||||||||||||
Net foreign exchange gain | $ 20,613,264 | ||||||||||||||
Average prices of crude oil exports | $ / bbl | 79.96 | 79.96 | |||||||||||||
Number of employees working at facility | employee | 328 | ||||||||||||||
Number of employees, evacuated | employee | 321 | ||||||||||||||
Number of employees, injured | employee | 6 | ||||||||||||||
Number of contractors, fatalities | contractor | 2 | ||||||||||||||
Number of contractors, missing | contractor | 1 | ||||||||||||||
Crude oil barrels equivalent, halted production | bbl | 700 | ||||||||||||||
Crude oil barrels equivalent, restored | bbl | 600 | ||||||||||||||
Number of hours after the incident | h | 48 | ||||||||||||||
Disposals, property, plant and equipment | $ 10,066,649 | ||||||||||||||
Petroleos Mexicanos | Subsequent event | Strengthening of Financial Position | |||||||||||||||
Disclosure of non-adjusting events after reporting period [line items] | |||||||||||||||
Proceeds from government grants | $ 64,970,000 | ||||||||||||||
Petroleos Mexicanos | Subsequent event | Construction of Dos Bocas Refinery | |||||||||||||||
Disclosure of non-adjusting events after reporting period [line items] | |||||||||||||||
Proceeds from government grants | $ 5,534,500 | ||||||||||||||
Credit Line | Ninety Days SOFR Plus 300 Basis Point | |||||||||||||||
Disclosure of non-adjusting events after reporting period [line items] | |||||||||||||||
Maturity | 90-day | ||||||||||||||
Interest rate basis spread | 30,000% | ||||||||||||||
Credit Line | Ninety One Days TIIE Plus 350 Basis Point | |||||||||||||||
Disclosure of non-adjusting events after reporting period [line items] | |||||||||||||||
Borrowings | $ 2,000,000 | ||||||||||||||
Maturity | 91-day | ||||||||||||||
Interest rate basis spread | 35,000% | ||||||||||||||
Credit Line | Ninety One Days TIIE Plus 350 Basis Point | Subsequent event | |||||||||||||||
Disclosure of non-adjusting events after reporting period [line items] | |||||||||||||||
Borrowings | $ 1,500,000 | ||||||||||||||
Maturity | 91-day | ||||||||||||||
Interest rate basis spread | 35,000% | ||||||||||||||
Promissory Note | Twenty Eight Days TIIE Plus 230 Basis Points | Subsequent event | |||||||||||||||
Disclosure of non-adjusting events after reporting period [line items] | |||||||||||||||
Borrowings | $ 2,000,000 | ||||||||||||||
Maturity | 28-day | ||||||||||||||
Interest rate basis spread | 23,000% | ||||||||||||||
PMI TRD DAC revolving credit lines | |||||||||||||||
Disclosure of non-adjusting events after reporting period [line items] | |||||||||||||||
Borrowings | $ 132,520 | ||||||||||||||
PMI TRD DAC revolving credit lines | Subsequent event | |||||||||||||||
Disclosure of non-adjusting events after reporting period [line items] | |||||||||||||||
Borrowings | $ 144,607 | $ 144,607 | |||||||||||||
Revolving credit facility available | $ 80,393 | $ 80,393 |
Subsidiary Guarantor Informat_3
Subsidiary Guarantor Information - Summary of Principal Amount Outstanding of Registered Debt Securities (Detail) $ in Thousands | 6 Months Ended |
Jun. 30, 2023 USD ($) | |
6.625% Guaranteed Bonds due 2035 | Master Trust | |
Supplemental information [line items] | |
Principal amount outstanding (U.S.$) | $ 1,750,000 |
6.625% Guaranteed Bonds due 2038 | Master Trust | |
Supplemental information [line items] | |
Principal amount outstanding (U.S.$) | 491,175 |
8.625% Guaranteed Bonds due 2023 | Master Trust | |
Supplemental information [line items] | |
Principal amount outstanding (U.S.$) | 63,705 |
9.500% Guaranteed Bonds due 2027 | Master Trust | |
Supplemental information [line items] | |
Principal amount outstanding (U.S.$) | 168,625 |
9.500% Global Guaranteed Bonds due 2027 | Petroleos Mexicanos | |
Supplemental information [line items] | |
Principal amount outstanding (U.S.$) | 96,718 |
4.875% Notes due 2024 | Petroleos Mexicanos | |
Supplemental information [line items] | |
Principal amount outstanding (U.S.$) | 844,175 |
6.625% Notes due 2035 | Petroleos Mexicanos | |
Supplemental information [line items] | |
Principal amount outstanding (U.S.$) | 999,000 |
6.500% Bonds due 2041 | Petroleos Mexicanos | |
Supplemental information [line items] | |
Principal amount outstanding (U.S.$) | 1,560,521 |
5.500% Bonds due 2044 | Petroleos Mexicanos | |
Supplemental information [line items] | |
Principal amount outstanding (U.S.$) | 640,357 |
6.375% Bonds due 2045 | Petroleos Mexicanos | |
Supplemental information [line items] | |
Principal amount outstanding (U.S.$) | 1,199,747 |
5.625% Bonds due 2046 | Petroleos Mexicanos | |
Supplemental information [line items] | |
Principal amount outstanding (U.S.$) | 626,143 |
4.500% Notes due 2026 | Petroleos Mexicanos | |
Supplemental information [line items] | |
Principal amount outstanding (U.S.$) | 1,124,403 |
4.250% Notes due 2025 | Petroleos Mexicanos | |
Supplemental information [line items] | |
Principal amount outstanding (U.S.$) | 635,449 |
6.875% Notes due 2026 | Petroleos Mexicanos | |
Supplemental information [line items] | |
Principal amount outstanding (U.S.$) | 2,502,771 |
4.625% Notes due 2023 | Petroleos Mexicanos | |
Supplemental information [line items] | |
Principal amount outstanding (U.S.$) | 895,444 |
6.750% Bonds due 2047 | Petroleos Mexicanos | |
Supplemental information [line items] | |
Principal amount outstanding (U.S.$) | 5,548,156 |
5.350% Notes due 2028 | Petroleos Mexicanos | |
Supplemental information [line items] | |
Principal amount outstanding (U.S.$) | 1,976,720 |
6.350% Bonds due 2048 | Petroleos Mexicanos | |
Supplemental information [line items] | |
Principal amount outstanding (U.S.$) | 1,574,041 |
6.500% Notes due 2027 | Petroleos Mexicanos | |
Supplemental information [line items] | |
Principal amount outstanding (U.S.$) | 4,006,043 |
5.950% Notes due 2031 | Petroleos Mexicanos | |
Supplemental information [line items] | |
Principal amount outstanding (U.S.$) | 3,777,381 |
6.490% Notes due 2027 | Petroleos Mexicanos | |
Supplemental information [line items] | |
Principal amount outstanding (U.S.$) | 1,538,374 |
6.840% Notes due 2030 | Petroleos Mexicanos | |
Supplemental information [line items] | |
Principal amount outstanding (U.S.$) | 2,345,538 |
6.950% Bonds due 2060 | Petroleos Mexicanos | |
Supplemental information [line items] | |
Principal amount outstanding (U.S.$) | 3,796,812 |
7.690% Bonds due 2050 | Petroleos Mexicanos | |
Supplemental information [line items] | |
Principal amount outstanding (U.S.$) | 8,047,831 |
6.500% Notes due 2029 | Petroleos Mexicanos | |
Supplemental information [line items] | |
Principal amount outstanding (U.S.$) | 1,204,708 |
6.875% Notes due 2025 | Petroleos Mexicanos | |
Supplemental information [line items] | |
Principal amount outstanding (U.S.$) | 901,836 |
8.750% Notes due 2029 | Petroleos Mexicanos | |
Supplemental information [line items] | |
Principal amount outstanding (U.S.$) | 1,908,685 |
6.700% Notes due 2032 | Petroleos Mexicanos | |
Supplemental information [line items] | |
Principal amount outstanding (U.S.$) | $ 6,779,842 |
Subsidiary Guarantor Informat_4
Subsidiary Guarantor Information - Supplemental Statement of Financial Position (Detail) - MXN ($) $ in Thousands | Jun. 30, 2023 | Dec. 31, 2022 | Jun. 30, 2022 | Dec. 31, 2021 |
Current assets [abstract] | ||||
Cash and cash equivalents | $ 64,115,200 | $ 64,414,511 | $ 64,932,217 | $ 76,506,447 |
Trade and other accounts receivable, derivative financial instruments and other current assets | 302,194,600 | 337,461,870 | ||
Accounts receivable—inter-company | 0 | 0 | ||
Inventories | 112,402,011 | 126,018,397 | ||
Total current assets | 478,711,811 | 527,894,778 | ||
Long-term receivables—intercompany | 0 | 0 | ||
Investments in joint ventures and associates | 1,787,482 | 2,043,966 | ||
Wells, pipelines, properties, plant and equipment-net | 1,331,419,805 | 1,368,750,850 | 1,406,321,403 | |
Long-term notes receivables | 1,372,338 | 1,334,126 | ||
Rights of use assets | 47,469,900 | 49,520,847 | ||
Deferred taxes | 167,925,120 | 171,632,558 | ||
Intangible assets | 22,622,380 | 30,024,934 | ||
Government Bonds | 52,869,024 | 63,653,260 | ||
Other assets | 21,741,012 | 30,702,725 | ||
Total assets | 2,125,918,872 | 2,245,558,044 | ||
Current liabilities | ||||
Current portion of long-term debt | 516,455,816 | 465,947,683 | ||
Accounts payable—inter-company | 0 | 0 | ||
Other current liabilities | 479,413,483 | 463,789,575 | ||
Total current liabilities | 995,869,299 | 929,737,258 | ||
Long-term debt | 1,370,161,140 | 1,625,516,313 | ||
Long-term payables—inter-company | 0 | 0 | ||
Employee benefits, provisions for sundry creditors, other liabilities and deferred taxes | 1,481,106,886 | 1,459,126,698 | ||
Total liabilities | 3,847,137,325 | 4,014,380,269 | ||
Total equity (deficit) | (1,721,218,453) | (1,768,822,225) | (1,669,677,465) | (2,170,000,783) |
Total liabilities and equity (deficit) | 2,125,918,872 | 2,245,558,044 | ||
Eliminations | ||||
Current assets [abstract] | ||||
Accounts receivable—inter-company | (2,701,563,500) | (2,803,713,857) | ||
Total current assets | (2,701,563,500) | (2,803,713,857) | ||
Long-term receivables—intercompany | (1,322,797,940) | (1,512,689,817) | ||
Investments in joint ventures and associates | 660,438,648 | 704,894,507 | ||
Total assets | (3,363,922,792) | (3,611,509,167) | ||
Current liabilities | ||||
Accounts payable—inter-company | (2,701,493,208) | (2,803,555,175) | ||
Total current liabilities | (2,701,493,208) | (2,803,555,175) | ||
Long-term payables—inter-company | (1,322,868,233) | (1,512,848,498) | ||
Total liabilities | (4,024,361,441) | (4,316,403,673) | ||
Total equity (deficit) | 660,438,649 | 704,894,506 | ||
Total liabilities and equity (deficit) | (3,363,922,792) | (3,611,509,167) | ||
Petróleos Mexicanos | ||||
Current assets [abstract] | ||||
Cash and cash equivalents | 13,449,953 | 14,809,052 | 17,363,722 | 34,690,405 |
Trade and other accounts receivable, derivative financial instruments and other current assets | 45,494,295 | 61,562,752 | ||
Accounts receivable—inter-company | 1,441,448,379 | 1,466,391,747 | ||
Inventories | 2,062,759 | 1,695,679 | ||
Total current assets | 1,502,455,386 | 1,544,459,230 | ||
Long-term receivables—intercompany | 1,321,697,139 | 1,511,328,178 | ||
Investments in joint ventures and associates | (1,143,521,446) | (1,203,291,062) | ||
Wells, pipelines, properties, plant and equipment-net | 6,766,117 | 6,832,860 | ||
Rights of use assets | 1,336,586 | 1,631,407 | ||
Deferred taxes | 52,304,373 | 51,156,380 | ||
Intangible assets | 229,487 | 149,947 | ||
Government Bonds | 52,869,024 | 63,653,260 | ||
Total assets | 1,794,136,666 | 1,975,920,200 | ||
Current liabilities | ||||
Current portion of long-term debt | 455,756,643 | 398,101,726 | ||
Accounts payable—inter-company | 1,372,320,401 | 1,423,626,118 | ||
Other current liabilities | 38,764,449 | 31,085,188 | ||
Total current liabilities | 1,866,841,493 | 1,852,813,032 | ||
Long-term debt | 1,322,067,362 | 1,573,359,790 | ||
Employee benefits, provisions for sundry creditors, other liabilities and deferred taxes | 326,120,130 | 318,280,995 | ||
Total liabilities | 3,515,028,985 | 3,744,453,817 | ||
Total equity (deficit) | (1,720,892,319) | (1,768,533,617) | ||
Total liabilities and equity (deficit) | 1,794,136,666 | 1,975,920,200 | ||
Subsidiary guarantors | ||||
Current assets [abstract] | ||||
Cash and cash equivalents | 13,035,929 | 11,293,133 | 13,300,199 | 6,157,869 |
Trade and other accounts receivable, derivative financial instruments and other current assets | 159,384,502 | 197,610,993 | ||
Accounts receivable—inter-company | 1,100,304,429 | 1,158,552,905 | ||
Inventories | 71,239,937 | 79,127,255 | ||
Total current assets | 1,343,964,797 | 1,446,584,286 | ||
Investments in joint ventures and associates | 260,075,333 | 269,011,476 | ||
Wells, pipelines, properties, plant and equipment-net | 1,053,534,069 | 1,089,869,156 | ||
Long-term notes receivables | 1,169,133 | 1,334,126 | ||
Rights of use assets | 43,038,014 | 44,352,154 | ||
Deferred taxes | 109,798,541 | 113,857,491 | ||
Intangible assets | 21,334,206 | 28,673,801 | ||
Other assets | 2,725,841 | 2,320,594 | ||
Total assets | 2,835,639,934 | 2,996,003,084 | ||
Current liabilities | ||||
Current portion of long-term debt | 18,888,740 | 20,438,040 | ||
Accounts payable—inter-company | 1,232,761,337 | 1,293,390,155 | ||
Other current liabilities | 370,931,458 | 346,977,135 | ||
Total current liabilities | 1,622,581,535 | 1,660,805,330 | ||
Long-term debt | 18,892,490 | 22,496,110 | ||
Long-term payables—inter-company | 1,321,697,143 | 1,511,403,321 | ||
Employee benefits, provisions for sundry creditors, other liabilities and deferred taxes | 1,134,140,214 | 1,124,420,120 | ||
Total liabilities | 4,097,311,382 | 4,319,124,881 | ||
Total equity (deficit) | (1,261,671,448) | (1,323,121,797) | ||
Total liabilities and equity (deficit) | 2,835,639,934 | 2,996,003,084 | ||
Non-guarantor subsidiaries | ||||
Current assets [abstract] | ||||
Cash and cash equivalents | 37,629,318 | 38,312,326 | $ 34,268,296 | $ 35,658,173 |
Trade and other accounts receivable, derivative financial instruments and other current assets | 97,315,803 | 78,288,125 | ||
Accounts receivable—inter-company | 159,810,692 | 178,769,205 | ||
Inventories | 39,099,315 | 45,195,463 | ||
Total current assets | 333,855,128 | 340,565,119 | ||
Long-term receivables—intercompany | 1,100,801 | 1,361,639 | ||
Investments in joint ventures and associates | 224,794,947 | 231,429,045 | ||
Wells, pipelines, properties, plant and equipment-net | 271,119,619 | 272,048,834 | ||
Long-term notes receivables | 203,205 | |||
Rights of use assets | 3,095,300 | 3,537,286 | ||
Deferred taxes | 5,822,206 | 6,618,687 | ||
Intangible assets | 1,058,687 | 1,201,186 | ||
Other assets | 19,015,171 | 28,382,131 | ||
Total assets | 860,065,064 | 885,143,927 | ||
Current liabilities | ||||
Current portion of long-term debt | 41,810,433 | 47,407,917 | ||
Accounts payable—inter-company | 96,411,470 | 86,538,902 | ||
Other current liabilities | 69,717,576 | 85,727,252 | ||
Total current liabilities | 207,939,479 | 219,674,071 | ||
Long-term debt | 29,201,288 | 29,660,413 | ||
Long-term payables—inter-company | 1,171,090 | 1,445,177 | ||
Employee benefits, provisions for sundry creditors, other liabilities and deferred taxes | 20,846,542 | 16,425,583 | ||
Total liabilities | 259,158,399 | 267,205,244 | ||
Total equity (deficit) | 600,906,665 | 617,938,683 | ||
Total liabilities and equity (deficit) | $ 860,065,064 | $ 885,143,927 |
Subsidiary Guarantor Informat_5
Subsidiary Guarantor Information - Supplemental Statement of Comprehensive Income (Detail) - MXN ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2023 | Jun. 30, 2022 | Jun. 30, 2023 | Jun. 30, 2022 | |
Supplemental information [line items] | ||||
Net revenues | $ 412,579,540 | $ 718,700,884 | $ 830,492,936 | $ 1,233,830,337 |
Services income | 1,577,316 | 1,076,640 | 2,102,903 | 3,267,716 |
Total revenues | 414,156,856 | 719,777,524 | 832,595,839 | 1,237,098,053 |
(Impairment) of wells, pipelines, properties, plant and equipment | (66,084,491) | 64,128,110 | ||
Cost of sales | 328,562,776 | 473,350,048 | 632,545,139 | 798,798,083 |
Gross income | 59,646,977 | 294,214,966 | 133,966,209 | 502,428,080 |
General expenses: | ||||
Total general expenses | 86,973,820 | 81,220,863 | ||
Other revenues (expenses), net | 9,500,100 | 20,633,468 | ||
Operating income | 21,516,390 | 257,389,856 | 56,492,489 | 441,840,685 |
Financing cost, net | (63,767,947) | (71,451,498) | ||
Foreign exchange income (loss), net | 230,676,132 | 81,450,171 | ||
Profit sharing in joint ventures and associates | 42,013 | 97,142 | 151,969 | 161,148 |
Income before duties, taxes and other | 95,011,704 | 229,926,772 | 223,552,643 | 452,000,506 |
Total taxes, duties and other | 141,393,488 | 204,351,399 | ||
Net income | 25,423,379 | 125,155,406 | 82,159,155 | 247,649,107 |
Total other comprehensive results | (23,999,531) | 158,016,547 | (52,255,383) | 139,236,672 |
Comprehensive income | $ 1,423,848 | $ 283,171,953 | 29,903,772 | 386,885,779 |
Eliminations | ||||
Supplemental information [line items] | ||||
Net revenues | (669,541,501) | (931,687,998) | ||
Services income | (110,162,204) | (86,945,780) | ||
Total revenues | (779,703,705) | (1,018,633,778) | ||
Cost of sales | (733,559,272) | (981,395,847) | ||
Gross income | (46,144,433) | (37,237,931) | ||
General expenses: | ||||
Total general expenses | (45,977,299) | (37,168,849) | ||
Other revenues (expenses), net | 170,720 | 82,442 | ||
Operating income | 3,586 | 13,360 | ||
Financing cost, net | (3,585) | (13,359) | ||
Profit sharing in joint ventures and associates | (147,196,962) | (327,470,347) | ||
Income before duties, taxes and other | (147,196,961) | (327,470,346) | ||
Net income | (147,196,961) | (327,470,346) | ||
Comprehensive income | (147,196,961) | (327,470,346) | ||
Petróleos Mexicanos | ||||
Supplemental information [line items] | ||||
Services income | 45,035,270 | 38,006,945 | ||
Total revenues | 45,035,270 | 38,006,945 | ||
Cost of sales | 460,531 | 557,103 | ||
Gross income | 44,574,739 | 37,449,842 | ||
General expenses: | ||||
Total general expenses | 38,149,619 | 35,617,276 | ||
Other revenues (expenses), net | 632,971 | (139,960) | ||
Operating income | 7,058,091 | 1,692,606 | ||
Financing cost, net | (29,017,169) | (20,819,565) | ||
Foreign exchange income (loss), net | (10,448,807) | (2,072,184) | ||
Profit sharing in joint ventures and associates | 113,450,915 | 267,989,641 | ||
Income before duties, taxes and other | 81,043,030 | 246,790,498 | ||
Total taxes, duties and other | (1,147,993) | (1,126,984) | ||
Net income | 82,191,023 | 247,917,482 | ||
Total other comprehensive results | 35,179,430 | |||
Comprehensive income | 82,191,023 | 283,096,912 | ||
Subsidiary guarantors | ||||
Supplemental information [line items] | ||||
Net revenues | 964,612,744 | 1,443,712,261 | ||
Services income | 58,406,395 | 45,227,103 | ||
Total revenues | 1,023,019,139 | 1,488,939,364 | ||
(Impairment) of wells, pipelines, properties, plant and equipment | (66,084,491) | 63,845,672 | ||
Cost of sales | 842,537,312 | 1,077,349,334 | ||
Gross income | 114,397,336 | 475,435,702 | ||
General expenses: | ||||
Total general expenses | 89,782,055 | 76,863,490 | ||
Other revenues (expenses), net | 6,831,617 | 4,115,267 | ||
Operating income | 31,446,898 | 402,687,479 | ||
Financing cost, net | (31,880,276) | (45,890,002) | ||
Foreign exchange income (loss), net | 236,709,116 | 82,984,658 | ||
Profit sharing in joint ventures and associates | 2,500,777 | (63,898) | ||
Income before duties, taxes and other | 238,776,515 | 439,718,237 | ||
Total taxes, duties and other | 141,775,172 | 206,112,571 | ||
Net income | 97,001,343 | 233,605,666 | ||
Total other comprehensive results | 123,195,199 | |||
Comprehensive income | 97,001,343 | 356,800,865 | ||
Non-guarantor subsidiaries | ||||
Supplemental information [line items] | ||||
Net revenues | 535,421,693 | 721,806,074 | ||
Services income | 8,823,442 | 6,979,448 | ||
Total revenues | 544,245,135 | 728,785,522 | ||
(Impairment) of wells, pipelines, properties, plant and equipment | 282,438 | |||
Cost of sales | 523,106,568 | 702,287,493 | ||
Gross income | 21,138,567 | 26,780,467 | ||
General expenses: | ||||
Total general expenses | 5,019,445 | 5,908,946 | ||
Other revenues (expenses), net | 1,864,792 | 16,575,719 | ||
Operating income | 17,983,914 | 37,447,240 | ||
Financing cost, net | (2,866,917) | (4,728,572) | ||
Foreign exchange income (loss), net | 4,415,823 | 537,697 | ||
Profit sharing in joint ventures and associates | 31,397,239 | 59,705,752 | ||
Income before duties, taxes and other | 50,930,059 | 92,962,117 | ||
Total taxes, duties and other | 766,309 | (634,188) | ||
Net income | 50,163,750 | 93,596,305 | ||
Total other comprehensive results | (52,255,383) | (19,137,957) | ||
Comprehensive income | $ (2,091,633) | $ 74,458,348 |
Subsidiary Guarantor Informat_6
Subsidiary Guarantor Information - Supplemental Statement of Cash Flows (Detail) $ in Thousands, $ in Thousands | 3 Months Ended | 6 Months Ended | ||||
Jun. 30, 2023 MXN ($) | Jun. 30, 2022 MXN ($) | Jun. 30, 2023 MXN ($) | Jun. 30, 2023 USD ($) | Jun. 30, 2022 MXN ($) | Jun. 30, 2022 USD ($) | |
Operating activities: | ||||||
Net income (loss) | $ 82,159,155 | $ 247,649,107 | ||||
Income taxes and duties | 141,393,488 | 204,351,399 | ||||
Depreciation and amortization of wells, pipelines, properties, plant and equipment | $ 28,735,620 | $ 36,270,500 | 56,791,178 | 69,413,993 | ||
Amortization of intangible assets | 196,096 | 129,615 | ||||
Impairment of wells, pipelines, properties, plant and equipment | 66,084,491 | (64,128,110) | ||||
Capitalized unsuccessful wells | 1,437,971 | 6,716,632 | ||||
Unsuccessful wells from intangible assets | 15,667,953 | 4,539,894 | ||||
Loss from derecognition of disposal of wells, pipelines, properties, plant and equipment | 3,454,946 | 2,014,611 | ||||
Depreciation of rights of use | 1,077,918 | 1,302,353 | 2,385,577 | 2,795,222 | ||
(Gains) on bargain purchase of business acquisition | 0 | (1,271,188) | ||||
Reclassification of translation effect | 0 | (10,383,296) | $ (10,383,296) | |||
Unrealized foreign exchange loss of reserve for well abandonment | 2,024,600 | 1,614,548 | ||||
Cancellation of leases | (122,679) | 0 | ||||
Discount rate of reserve for well abandonment | 2,024,600 | |||||
Loss (profit) sharing in joint ventures and associates | (151,969) | (161,148) | ||||
Unrealized foreign exchange loss (income) | (212,796,067) | (80,028,226) | ||||
Interest expense | 74,780,817 | 64,247,055 | ||||
Interest income | (8,224,531) | (17,304,710) | ||||
Duties and taxes | (93,012,117) | (203,599,952) | ||||
Accounts receivable, inventories, accounts payable, DFIs and provisions | 12,365,365 | (78,663,077) | ||||
Employee benefits | 29,971,712 | 29,340,108 | ||||
Net cash flows from operating activities | 174,405,986 | 177,272,477 | ||||
Investing activities: | ||||||
Acquisition of wells, pipelines, properties, plant and equipment and intangible assets | (138,527,101) | (139,180,248) | ||||
Other assets and other receivables | 11,728,468 | (40,595,098) | ||||
Net cash flows (used in) investing activities | (126,798,633) | (179,775,346) | ||||
Financing activities: | ||||||
Increase in equity due to Certificates of Contribution “A” | 17,700,000 | 90,437,539 | ||||
Increase in equity due to Certificates of Contribution “A” and proceeds from FONADIN grants | 113,437,539 | |||||
Collection and interest collected from the Mexican Government | 32,449,191 | 3,411,432 | ||||
Lease payments of principal and interest | (3,975,374) | (5,396,117) | ||||
Loans obtained from financial institutions | 431,659,853 | 515,677,850 | ||||
Debt payments, principal only | (436,838,825) | $ (541,555) | (565,601,629) | |||
Interest paid | (75,009,928) | (67,056,203) | ||||
Net cash flows (used in) from financing activities | (34,015,083) | (5,527,128) | ||||
Net increase (decrease) in cash and cash equivalents | 13,592,270 | (8,029,997) | ||||
Effects of foreign exchange on cash balances | (13,891,581) | (3,544,233) | ||||
Cash and cash equivalents at the beginning of the year | 64,414,511 | 76,506,447 | ||||
Cash and cash equivalents at the end of the period (Note 9) | 64,115,200 | 64,932,217 | 64,115,200 | 64,932,217 | ||
Eliminations | ||||||
Operating activities: | ||||||
Net income (loss) | (147,196,961) | (327,470,347) | ||||
Loss (profit) sharing in joint ventures and associates | 145,184,133 | 330,165,023 | ||||
Inter-company charges and deductions | (46,456,238) | (481,871,950) | ||||
Net cash flows from operating activities | (48,469,066) | (479,177,274) | ||||
Investing activities: | ||||||
(Increase) decrease due to Inter-company investing | (243,573,176) | (48,128,251) | ||||
Net cash flows (used in) investing activities | (243,573,176) | (48,128,251) | ||||
Financing activities: | ||||||
Inter-company increase (decrease) financing | 292,042,242 | 527,305,525 | ||||
Net cash flows (used in) from financing activities | 292,042,242 | 527,305,525 | ||||
Petróleos Mexicanos | ||||||
Operating activities: | ||||||
Net income (loss) | 82,191,023 | 247,917,481 | ||||
Income taxes and duties | (1,147,993) | (1,126,984) | ||||
Depreciation and amortization of wells, pipelines, properties, plant and equipment | 283,832 | 282,795 | ||||
Amortization of intangible assets | 148,197 | 90,962 | ||||
Loss from derecognition of disposal of wells, pipelines, properties, plant and equipment | 14 | 370,097 | ||||
Depreciation of rights of use | 294,821 | 33,486 | ||||
Cancellation of leases | (124,191) | |||||
Loss (profit) sharing in joint ventures and associates | (113,450,915) | (330,165,023) | ||||
Unrealized foreign exchange loss (income) | (190,694,401) | (73,703,064) | ||||
Interest expense | 65,163,379 | 59,059,878 | ||||
Interest income | (5,953,863) | (5,876,560) | ||||
Duties and taxes | 370,291 | (10,851,498) | ||||
Accounts receivable, inventories, accounts payable, DFIs and provisions | 6,637,569 | 60,410,925 | ||||
Employee benefits | 8,076,244 | 11,840,994 | ||||
Inter-company charges and deductions | (27,299,944) | 668,386,708 | ||||
Net cash flows from operating activities | (175,505,937) | 626,670,197 | ||||
Investing activities: | ||||||
Acquisition of wells, pipelines, properties, plant and equipment and intangible assets | (671,888) | (305,827) | ||||
Other assets and other receivables | 1,287,803 | 710,592 | ||||
(Increase) decrease due to Inter-company investing | 243,312,338 | 47,828,170 | ||||
Net cash flows (used in) investing activities | 243,928,253 | 48,232,935 | ||||
Financing activities: | ||||||
Increase in equity due to Certificates of Contribution “A” | 17,700,000 | |||||
Increase in equity due to Certificates of Contribution “A” and proceeds from FONADIN grants | 113,437,539 | |||||
Collection and interest collected from the Mexican Government | 32,449,191 | 3,411,432 | ||||
Lease payments of principal and interest | (331,046) | (200,877) | ||||
Loans obtained from financial institutions | 186,742,632 | 166,249,869 | ||||
Debt payments, principal only | (184,323,260) | (212,579,746) | ||||
Interest paid | (70,713,213) | (64,812,821) | ||||
Inter-company increase (decrease) financing | (51,305,719) | (697,735,211) | ||||
Net cash flows (used in) from financing activities | (69,781,415) | (692,229,815) | ||||
Net increase (decrease) in cash and cash equivalents | (1,359,099) | (17,326,683) | ||||
Cash and cash equivalents at the beginning of the year | 14,809,052 | 34,690,405 | ||||
Cash and cash equivalents at the end of the period (Note 9) | 13,449,953 | 17,363,722 | 13,449,953 | 17,363,722 | ||
Subsidiary guarantors | ||||||
Operating activities: | ||||||
Net income (loss) | 97,001,343 | 233,605,670 | ||||
Income taxes and duties | 141,775,172 | 206,112,571 | ||||
Depreciation and amortization of wells, pipelines, properties, plant and equipment | 54,269,423 | 65,843,669 | ||||
Amortization of intangible assets | 10,213 | 11,315 | ||||
Impairment of wells, pipelines, properties, plant and equipment | 66,084,491 | (63,845,672) | ||||
Capitalized unsuccessful wells | 1,437,971 | 6,716,632 | ||||
Unsuccessful wells from intangible assets | 15,667,953 | 4,539,894 | ||||
Loss from derecognition of disposal of wells, pipelines, properties, plant and equipment | 1,266,601 | 724,903 | ||||
Depreciation of rights of use | 1,912,430 | 2,366,899 | ||||
Unrealized foreign exchange loss of reserve for well abandonment | 1,614,548 | |||||
Discount rate of reserve for well abandonment | 2,024,600 | |||||
Loss (profit) sharing in joint ventures and associates | (2,001,116) | (2,227) | ||||
Unrealized foreign exchange loss (income) | (15,016,726) | (4,295,069) | ||||
Interest expense | 6,312,376 | 3,265,559 | ||||
Interest income | (1,679,381) | (11,383,187) | ||||
Duties and taxes | (91,561,760) | (193,586,129) | ||||
Accounts receivable, inventories, accounts payable, DFIs and provisions | 32,450,467 | (65,380,653) | ||||
Employee benefits | 21,866,558 | 17,460,537 | ||||
Inter-company charges and deductions | 33,634,743 | (201,809,802) | ||||
Net cash flows from operating activities | 365,455,358 | 1,959,458 | ||||
Investing activities: | ||||||
Acquisition of wells, pipelines, properties, plant and equipment and intangible assets | (102,774,574) | (93,002,643) | ||||
Other assets and other receivables | 1,965,057 | 1,795,627 | ||||
Net cash flows (used in) investing activities | (100,809,517) | (91,207,016) | ||||
Financing activities: | ||||||
Lease payments of principal and interest | (3,243,395) | (4,797,046) | ||||
Loans obtained from financial institutions | 16,948,432 | 0 | ||||
Debt payments, principal only | (21,434,858) | (15,559,285) | ||||
Interest paid | (4,838,220) | (2,033,767) | ||||
Inter-company increase (decrease) financing | (250,335,004) | 118,779,986 | ||||
Net cash flows (used in) from financing activities | (262,903,045) | 96,389,888 | ||||
Net increase (decrease) in cash and cash equivalents | 1,742,796 | 7,142,330 | ||||
Cash and cash equivalents at the beginning of the year | 11,293,133 | 6,157,869 | ||||
Cash and cash equivalents at the end of the period (Note 9) | 13,035,929 | 13,300,199 | 13,035,929 | 13,300,199 | ||
Non-guarantor subsidiaries | ||||||
Operating activities: | ||||||
Net income (loss) | 50,163,750 | 93,596,303 | ||||
Income taxes and duties | 766,309 | (634,188) | ||||
Depreciation and amortization of wells, pipelines, properties, plant and equipment | 2,237,923 | 3,287,529 | ||||
Amortization of intangible assets | 37,686 | 27,338 | ||||
Impairment of wells, pipelines, properties, plant and equipment | 0 | (282,438) | ||||
Loss from derecognition of disposal of wells, pipelines, properties, plant and equipment | 2,188,331 | 919,611 | ||||
Depreciation of rights of use | 178,326 | 394,837 | ||||
(Gains) on bargain purchase of business acquisition | (1,271,188) | |||||
Reclassification of translation effect | $ (10,383,296) | |||||
Cancellation of leases | 1,512 | |||||
Loss (profit) sharing in joint ventures and associates | (29,884,071) | (158,921) | ||||
Unrealized foreign exchange loss (income) | (7,084,940) | (2,030,093) | ||||
Interest expense | 3,305,062 | 1,921,618 | ||||
Interest income | (591,287) | (44,963) | ||||
Duties and taxes | (1,820,648) | 837,675 | ||||
Accounts receivable, inventories, accounts payable, DFIs and provisions | (26,722,671) | (73,693,349) | ||||
Employee benefits | 28,910 | 38,577 | ||||
Inter-company charges and deductions | 40,121,439 | 15,295,044 | ||||
Net cash flows from operating activities | 32,925,631 | 27,820,096 | ||||
Investing activities: | ||||||
Acquisition of wells, pipelines, properties, plant and equipment and intangible assets | (35,080,639) | (45,871,778) | ||||
Other assets and other receivables | 8,475,608 | (43,101,317) | ||||
(Increase) decrease due to Inter-company investing | 260,838 | 300,081 | ||||
Net cash flows (used in) investing activities | (26,344,193) | (88,673,014) | ||||
Financing activities: | ||||||
Lease payments of principal and interest | (400,933) | (398,194) | ||||
Loans obtained from financial institutions | 227,968,789 | 349,427,981 | ||||
Debt payments, principal only | (231,080,707) | (337,462,598) | ||||
Interest paid | 541,505 | (209,615) | ||||
Inter-company increase (decrease) financing | 9,598,481 | 51,649,700 | ||||
Net cash flows (used in) from financing activities | 6,627,135 | 63,007,274 | ||||
Net increase (decrease) in cash and cash equivalents | 13,208,573 | 2,154,356 | ||||
Effects of foreign exchange on cash balances | (13,891,581) | (3,544,233) | ||||
Cash and cash equivalents at the beginning of the year | 38,312,326 | 35,658,173 | ||||
Cash and cash equivalents at the end of the period (Note 9) | $ 37,629,318 | $ 34,268,296 | $ 37,629,318 | $ 34,268,296 |