Cover
Cover | 6 Months Ended |
Jun. 30, 2024 | |
Cover [Abstract] | |
Document Type | 6-K |
Entity Registrant Name | Mexican Petroleum |
Amendment Flag | false |
Document Fiscal Year Focus | 2024 |
Document Fiscal Period Focus | Q2 |
Entity Central Index Key | 0000932782 |
Current Fiscal Year End Date | --12-31 |
Document Period End Date | Jun. 30, 2024 |
Condensed Consolidated Interim
Condensed Consolidated Interim Statements of Financial Position - MXN ($) $ in Thousands | Jun. 30, 2024 | Dec. 31, 2023 |
Current assets: | ||
Cash and cash equivalents | $ 66,735,531 | $ 68,747,376 |
Customers, net | 130,341,132 | 111,394,431 |
Other financing receivables | 46,688,507 | 40,887,127 |
Other non-financing receivables | 78,943,256 | 163,079,678 |
Inventories | 103,558,205 | 112,035,992 |
Government Bonds | 28,531,855 | 28,637,314 |
Derivative financial instruments | 8,874,917 | 9,926,384 |
Other current assets | 1,910,204 | 3,832,444 |
Total current assets | 465,583,607 | 538,540,746 |
Non-current assets: | ||
Investments in associates | 2,053,711 | 1,854,803 |
Wells, pipelines, properties, plant and equipment, net | 1,537,151,854 | 1,482,322,166 |
Rights of use assets | 44,215,877 | 43,203,180 |
Long-term notes receivable, net of current portion | 995,269 | 1,179,706 |
Government Bonds | 24,761,455 | 35,495,104 |
Deferred income taxes and duties | 160,039,008 | 169,914,720 |
Intangible assets, net | 22,225,979 | 20,350,819 |
Other assets | 11,184,703 | 10,614,092 |
Total non-current assets | 1,802,627,856 | 1,764,934,590 |
Total assets | 2,268,211,463 | 2,303,475,336 |
Current liabilities: | ||
Short-term debt and current portion of long-term debt | 396,301,477 | 477,221,594 |
Short-term leases | 7,984,015 | 8,003,743 |
Suppliers | 362,517,039 | 368,345,849 |
Income taxes and duties payable | 96,761,614 | 150,004,749 |
Accounts and accrued expenses payable | 94,738,999 | 83,646,764 |
Derivative financial instruments | 54,298,400 | 36,494,962 |
Total current liabilities | 1,012,601,544 | 1,123,717,661 |
Long-term liabilities: | ||
Long-term debt, net of current portion | 1,430,247,150 | 1,317,248,763 |
Long-term leases, net of current portion | 37,405,036 | 33,844,590 |
Employee benefits | 1,271,757,000 | 1,372,459,213 |
Provisions for sundry creditors | 92,814,215 | 83,310,554 |
Other liabilities | 15,909,343 | 13,075,178 |
Deferred income taxes | 13,226,622 | 12,798,187 |
Total long-term liabilities | 2,861,359,366 | 2,832,736,485 |
Total liabilities | 3,873,960,910 | 3,956,454,146 |
Controlling interest: | ||
Certificates of Contribution “A” | 1,341,207,416 | 1,196,207,416 |
Mexican Government contributions | 66,730,591 | 66,730,591 |
Legal reserve | 1,002,130 | 1,002,130 |
Accumulated other comprehensive result | 163,558,484 | (7,313,005) |
Accumulated deficit: | ||
From prior years | (2,909,489,303) | (2,917,596,017) |
Net (loss) income for the period/year | (268,619,086) | 8,106,714 |
Total controlling interest | (1,605,609,768) | (1,652,862,171) |
Total non-controlling interest | (139,679) | (116,639) |
Total equity (deficit) | (1,605,749,447) | (1,652,978,810) |
Total liabilities and equity (deficit) | $ 2,268,211,463 | $ 2,303,475,336 |
Condensed Consolidated Interi_2
Condensed Consolidated Interim Statements of Comprehensive Income - MXN ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2024 | Jun. 30, 2023 | Jun. 30, 2024 | Jun. 30, 2023 | |
Net revenues | ||||
Domestic | $ 246,295,654 | $ 218,906,525 | $ 481,825,986 | $ 461,240,951 |
Export | 162,549,297 | 193,673,015 | 332,238,322 | 369,251,985 |
Services income | 683,115 | 1,577,316 | 1,362,137 | 2,102,903 |
Total revenues | 409,528,066 | 414,156,856 | 815,426,445 | 832,595,839 |
(Impairment) of wells, pipelines, properties, plant and equipment, net | (9,903,148) | (25,947,103) | (17,548,991) | (66,084,491) |
Cost of sales | 363,565,950 | 328,562,776 | 685,751,323 | 632,545,139 |
Gross income | 36,058,968 | 59,646,977 | 112,126,131 | 133,966,209 |
Other revenues (expenses): | ||||
Distribution, transportation and sale expenses | 5,236,938 | 2,911,297 | 7,732,620 | 7,489,355 |
Administrative expenses | 43,751,747 | 39,249,329 | 84,476,456 | 79,484,465 |
Other revenues | 4,331,494 | 5,973,794 | 8,581,117 | 12,170,448 |
Other expenses | 2,753,666 | 1,943,755 | 3,452,548 | 2,670,348 |
Operating income | (11,351,889) | 21,516,390 | 25,045,624 | 56,492,489 |
Financing income | 3,655,162 | 2,209,379 | 10,194,451 | 8,224,531 |
Financing cost | 37,014,725 | 36,605,455 | 71,100,482 | 74,780,817 |
Derivative financial instruments income (cost), net | (10,064,456) | 2,489,947 | (15,783,317) | 2,788,339 |
Foreign exchange (loss) income — net | (159,683,239) | 105,359,430 | (126,295,142) | 230,676,132 |
Sum of financing cost, net, derivative financial instruments (cost) income, net and foreign exchange (loss) income, net | (203,107,258) | 73,453,301 | (202,984,490) | 166,908,185 |
Profit sharing in associates | 234,319 | 42,013 | 265,216 | 151,969 |
Income before duties, taxes and other | (214,224,828) | 95,011,704 | (177,673,650) | 223,552,643 |
Profit sharing duty, net | 45,972,245 | 65,282,847 | 77,121,107 | 137,202,500 |
Income tax expense | 13,132,490 | 4,305,478 | 13,852,600 | 4,190,988 |
Total duties, taxes and other | 59,104,735 | 69,588,325 | 90,973,707 | 141,393,488 |
Net (loss) income | (273,329,563) | 25,423,379 | (268,647,357) | 82,159,155 |
Currency translation effect | 45,735,321 | (23,999,531) | 39,746,121 | (52,255,383) |
Actuarial gains - employee benefits, net of taxes | 131,130,561 | 0 | 131,130,599 | 0 |
Total other comprehensive results | 176,865,882 | (23,999,531) | 170,876,720 | (52,255,383) |
Net (loss) income attributable to: | ||||
Controlling interest | (273,315,188) | 25,439,156 | (268,619,086) | 82,191,023 |
Non-controlling interest | (14,375) | (15,777) | (28,271) | (31,868) |
Net (loss) income | (273,329,563) | 25,423,379 | (268,647,357) | 82,159,155 |
Other comprehensive results attributable to: | ||||
Controlling interest | 176,860,369 | (23,996,992) | 170,871,489 | (52,249,726) |
Non-controlling interest | 5,513 | (2,539) | 5,231 | (5,657) |
Total other comprehensive results | 176,865,882 | (23,999,531) | 170,876,720 | (52,255,383) |
Comprehensive results attributable to: | ||||
Controlling interest | (96,454,819) | 1,442,164 | (97,747,597) | 29,941,297 |
Non-controlling interest | (8,862) | (18,316) | (23,040) | (37,525) |
Total comprehensive (loss) income | $ (96,463,681) | $ 1,423,848 | $ (97,770,637) | $ 29,903,772 |
Condensed Consolidated Interi_3
Condensed Consolidated Interim Statements of Changes in Equity (Deficit) - MXN ($) $ in Thousands | Total | Total | Certificates of Contribution “A” | Mexican Government contributions | Legal reserve | Accumulated other comprehensive result Cumulative currency translation effect | Accumulated other comprehensive result Actuarial gains on employee benefits effect | Accumulated deficit, for the year | Accumulated deficit, from prior years | Non- controlling interest |
Beginning balance at Dec. 31, 2022 | $ (1,768,822,225) | $ (1,768,533,615) | $ 1,029,592,293 | $ 66,730,591 | $ 1,002,130 | $ 25,437,210 | $ 26,300,178 | $ 100,412,051 | $ (3,018,008,068) | $ (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 (loss) income | 29,903,772 | 29,941,297 | (52,249,726) | 82,191,023 | (37,525) | |||||
Ending balance at Jun. 30, 2023 | (1,721,218,453) | (1,720,892,318) | 1,047,292,293 | 66,730,591 | 1,002,130 | (26,812,516) | 26,300,178 | 82,191,023 | (2,917,596,017) | (326,135) |
Beginning balance at Dec. 31, 2023 | (1,652,978,810) | (1,652,862,171) | 1,196,207,416 | 66,730,591 | 1,002,130 | (28,679,410) | 21,366,405 | 8,106,714 | (2,917,596,017) | (116,639) |
Equity [abstract] | ||||||||||
Transfer to accumulated deficit | (8,106,714) | 8,106,714 | ||||||||
Increase in Certificates of Contribution “A” | 145,000,000 | 145,000,000 | 145,000,000 | |||||||
Total comprehensive (loss) income | (97,770,637) | (97,747,597) | 39,741,015 | 131,130,474 | (268,619,086) | (23,040) | ||||
Ending balance at Jun. 30, 2024 | $ (1,605,749,447) | $ (1,605,609,768) | $ 1,341,207,416 | $ 66,730,591 | $ 1,002,130 | $ 11,061,605 | $ 152,496,879 | $ (268,619,086) | $ (2,909,489,303) | $ (139,679) |
Condensed Consolidated Interi_4
Condensed Consolidated Interim Statements of Cash Flows - MXN ($) $ in Thousands | 6 Months Ended | |
Jun. 30, 2024 | Jun. 30, 2023 | |
Operating activities: | ||
Net (loss) income | $ (268,647,357) | $ 82,159,155 |
Total duties, taxes and other | 90,973,707 | 141,393,488 |
Depreciation and amortization of wells, pipelines, properties, plant and equipment | 74,258,629 | 56,791,178 |
Amortization of intangible assets | 176,074 | 196,096 |
Impairment of wells, pipelines, properties, plant and equipment | 17,548,991 | 66,084,491 |
Capitalized unsuccessful wells | 4,492,742 | 1,437,971 |
Unsuccessful wells from intangible assets | 10,836,456 | 15,667,953 |
Loss from disposal of wells, pipelines, properties, plant and equipment | 2,308,100 | 3,454,946 |
Depreciation of rights of use | 2,915,676 | 2,385,577 |
Cancellation of leases | 0 | (122,679) |
Unrealized foreign exchange loss of reserve for well abandonment | 2,369,541 | 2,024,600 |
(Profit) sharing in associates, net | (265,216) | (151,969) |
Unrealized foreign exchange loss (income) | 120,285,924 | (212,796,067) |
Financing cost | 71,100,482 | 74,780,817 |
Financing income | (10,194,451) | (8,224,531) |
Funds from operating activities | 118,159,298 | 225,081,026 |
Funds from operating activities | ||
Profit-sharing duty and income tax paid | (46,370,908) | (111,964,235) |
Derivative financial instruments | 18,854,905 | 9,188,660 |
Customers and accounts receivable | 63,624,066 | 22,639,795 |
Inventories | 12,181,564 | (4,946,859) |
Accounts payable and accrued expenses | 11,092,235 | 8,925,982 |
Suppliers | 11,194,290 | (27,102,713) |
Provisions for sundry creditors | 4,023,506 | 3,660,500 |
Employee benefits | 28,437,611 | 29,971,712 |
Other taxes and duties | (85,551,012) | 18,952,118 |
Net cash flows from operating activities | 135,645,555 | 174,405,986 |
Investing activities | ||
Interest collected | 3,484,930 | 1,310,166 |
Other assets | 2,681,881 | 10,418,302 |
Acquisition of wells, pipelines, properties, plant and equipment | (145,395,723) | (119,235,272) |
Acquisition of intangible assets | (16,175,200) | (19,291,829) |
Net cash flows (used in) investing activities | (155,404,112) | (126,798,633) |
Financing activities: | ||
Increase in equity due to Certificates of Contribution “A” | 145,000,000 | 17,700,000 |
Collections from the Mexican Government | 10,732,626 | 27,901,421 |
Interest collected from the Mexican Government | 2,764,716 | 4,547,770 |
Lease payments | (3,402,331) | (2,939,198) |
Interest of lease paid | (924,286) | (1,036,176) |
Loans obtained from financial institutions | 536,422,333 | 431,659,853 |
Debt payments, principal only | (620,190,507) | (436,838,825) |
Interest paid | (70,733,122) | (75,009,928) |
Net cash flows (used in) financing activities | (330,571) | (34,015,083) |
Net (decrease) increase in cash and cash equivalents | (20,089,128) | 13,592,270 |
Effects of foreign exchange on cash balances | 18,077,283 | (13,891,581) |
Cash and cash equivalents at the beginning of the year | 68,747,376 | 64,414,511 |
Cash and cash equivalents at the end of the period (Note 9) | $ 66,735,531 | $ 64,115,200 |
Structure and Business Operatio
Structure and Business Operations of Petroleos Mexicanos, Subsidiary Entities and Subsidiary Companies | 6 Months Ended |
Jun. 30, 2024 | |
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, 2024 | |
Disclosure of basis of preparation [Abstract] | |
Authorization and Basis of Preparation | AUTHORIZATION AND BASIS OF PREPARATION Authorization On September 27, 2024, these condensed consolidated interim financial statements and the notes hereto were authorized for issuance by the following officers: Mr. Octavio Romero Oropeza, Chief Executive Officer, Lic. Carlos Fernando Cortez González, Acting Chief Financial Officer, Mr. José María del Olmo Blanco, 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, 2024 and December 31, 2023, and for the three- and six-month periods ended June 30, 2024 and 2023, in accordance with IAS 34, “Interim Financial Reporting” (“IAS 34”) of the International Financial Reporting Standards (“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, 2023. 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, 2023. 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 33% and 35% of PEMEX’s total liabilities as of June 30, 2024 and December 31, 2023, 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, 2023. 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. |
Material Accounting Policies
Material Accounting Policies | 6 Months Ended |
Jun. 30, 2024 | |
Disclosure of voluntary change in accounting policy [abstract] | |
Material Accounting Policies | MATERIAL ACCOUNTING POLICIES The 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, 2023, except for the adoption of new standards effective as of January 1, 2024. However, these new standards have not had a material effect on the condensed consolidated interim financial statements of PEMEX. |
Recently Issued Accounting Stan
Recently Issued Accounting Standards | 6 Months Ended |
Jun. 30, 2024 | |
Disclosure of changes in accounting estimates [abstract] | |
Recently Issued Accounting Standards | RECENTLY ISSUED ACCOUNTING STANDARDS A number of new standards are effective for annual periods beginning after January 1, 2024 and earlier application is permitted; however, PEMEX has not early adopted the new or amended standards in preparing these condensed consolidated interim financial statements. The following amended standards and interpretations are not expected to have a significant impact on PEMEX’s condensed consolidated interim financial statements: i. Applicable as of January 1, 2024 • Classification of Liabilities as Current or Non-current and Non-current Liabilities with Covenants (Amendments to IAS 1) • Supplier Finance Arrangements (Amendments to IAS 7 and IFRS 7) • Lease Liability in a Sale and Leaseback (Amendments to IFRS 16) • Lack of Exchangeability (Amendments to IAS 21) ii. Applicable as of January 1, 2027 • Presentation and Disclosure in Financial Statements (IFRS 18) PEMEX is in the process of assessing the impact of IFRS 18 to meet the new presentation and disclosure requirements. On March 6, 2024, the SEC adopted final rules mandating registrants to disclose specific climate-related information. PEMEX is currently evaluating the potential impact of these regulations on its reporting practices. |
Subsidiary Entities and Subsidi
Subsidiary Entities and Subsidiary Companies | 6 Months Ended |
Jun. 30, 2024 | |
Disclosure of subsidiaries [abstract] | |
Subsidiary Entities and Subsidiary Companies | SUBSIDIARY ENTITIES AND SUBSIDIARY COMPANIES As of June 30, 2024 and December 31, 2023, the Subsidiary Entities consolidated in these condensed consolidated interim financial statements include Pemex Exploration and Production, Pemex Industrial Transformation and Pemex Logistics. As of June 30, 2024 and December 31, 2023, 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)(xiii) • 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”) (iii)(iv) • Pemex Procurement International, Inc. (“PPI”) (iii)(vi) • Pemex Finance Limited (“FIN”) (iii)(ix)(xiii) • Mex Gas Internacional, S.L. (“MGAS”) (iii)(iv) • Pemex Desarrollo e Inversión de Proyectos, S.A. de C.V. (“PDII”) (iii)(iv)(xi) • KOT Insurance Company, AG. (“KOT”) (iii)(viii) • PPQ Cadena Productiva, S.L.U. (“PPQCP”) (iii)(v)(xiii) • 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)(xiii) • 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”) (i)(iii)(vi) • Gasolinas Bienestar, S.A. de C.V. (“GASOB”) (iii)(xii) (i) Member Company of the “PMI Subsidiaries”. (ii) Non-controlling interest company (98.33% in PMI CIM and 60.00% in COMESA). (iii) Petróleos Mexicanos owns 100.00% 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) Formerly Pemex Desarrollo e Inversión Inmobiliaria, S.A. de C.V., until April 20, 2023. (xii) Consolidated as of July 2023. (xiii) This company is in process of liquidation. |
Segment Financial Information
Segment Financial Information | 6 Months Ended |
Jun. 30, 2024 | |
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, 2024 and December 31, 2023, PEMEX’s operations were conducted through seven business segments: Exploration and Production, Industrial Transformation, Logistics, DPRLP, Trading Companies, Corporate and 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. Crude oil export sales are made through the agent subsidiary company PMI CIM, to 18 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. • The DPRLP segment includes Deer Park’s operations and 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, MGAS and GASOB (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, 2024 Exploration Industrial Logistics DPRLP Trading Corporate Other Intersegment Total Revenues: Trade Ps. 167,641,188 321,320,541 — 75,731,508 237,448,242 — 11,922,829 — Ps. 814,064,308 Intersegment 259,533,761 175,962,347 47,053,985 10,587,880 251,549,157 20,680,704 24,259,194 (789,627,028) — Services income 13,198 176,669 247,635 189 909,804 439 14,203 — 1,362,137 (Impairment) of wells, pipelines, properties, plant and equipment, net 19,014,931 (36,392,092) (171,830) — — — — — (17,548,991) Cost of sales 255,656,439 563,805,165 38,613,054 84,944,760 481,817,572 550,181 30,068,714 (769,704,562) 685,751,323 Gross income 190,546,639 (102,737,700) 8,516,736 1,374,817 8,089,631 20,130,962 6,127,512 (19,922,466) 112,126,131 Distribution, transportation and sale expenses 331,001 10,200,978 156,381 — 70,287 90,646 32,711 (3,149,384) 7,732,620 Administrative expenses 19,893,862 27,138,630 7,628,389 793,223 1,687,434 40,703,996 3,317,432 (16,686,510) 84,476,456 Other revenues 3,436,975 3,174,426 428,958 7,892 267,312 154,826 1,110,728 — 8,581,117 Other expenses 2,227,199 1,006,202 100,651 39 16,441 73,347 114,370 (85,701) 3,452,548 Operating income 171,531,552 (137,909,084) 1,060,273 589,447 6,582,781 (20,582,201) 3,773,727 (871) 25,045,624 Financing income 37,075,735 541,629 10,009,689 544,536 594,955 114,406,269 1,012,875 (153,991,237) 10,194,451 Financing cost 92,949,387 17,540,997 188,074 94,061 3,575,805 109,327,911 1,416,355 (153,992,108) 71,100,482 Derivative financial instruments (cost) income, net (10,739,208) 156,741 — 92,182 (644,612) (4,648,420) — — (15,783,317) Foreign exchange (loss) income — net (20,632,464) (124,477,013) (195,264) — (458,402) 21,003,651 (1,535,650) — (126,295,142) Profit sharing in associates 106,495 (481,453) 1,005 — 2,011,406 (260,831,141) 2,448,484 257,010,420 265,216 Total duties, taxes and other 77,700,631 — 2,718,193 48,019 1,528,638 8,639,331 338,895 — 90,973,707 Net (loss) income Ps. 6,692,092 (279,710,177) 7,969,436 1,084,085 2,981,685 (268,619,084) 3,944,186 257,010,420 Ps. (268,647,357) Total current assets 937,920,629 228,855,334 282,912,229 40,254,106 284,493,604 2,214,708,552 129,956,074 (3,653,516,921) 465,583,607 Total non-current assets 945,415,557 572,388,371 154,702,640 31,563,567 110,643,895 91,047,489 509,698,621 (612,832,284) 1,802,627,856 Total current liabilities 595,337,603 1,457,901,728 82,717,564 16,026,689 225,132,362 2,229,453,577 59,476,372 (3,653,444,351) 1,012,601,544 Total long-term liabilities 1,781,018,827 588,622,256 76,460,278 2,937,786 1,355,663 1,681,912,232 59,221,993 (1,330,169,669) 2,861,359,366 Total equity (deficit) (493,020,244) (1,245,280,279) 278,437,027 52,853,198 168,649,474 (1,605,609,768) 520,956,330 717,264,815 (1,605,749,447) Depreciation and amortization of wells, pipelines, properties, plant and equipment 63,013,017 5,382,944 3,197,671 1,086,616 136,235 284,137 1,158,009 — 74,258,629 Depreciation of rights of use 160,421 1,566,853 184,726 278,446 349,543 301,264 74,423 — 2,915,676 Net periodic cost of employee benefits 19,412,723 27,750,107 4,532,084 — 1,575 17,267,857 31,314 — 68,995,660 Interest income (1) 101,686 345,114 9,686 168,334 232,728 4,546,423 784,037 — 6,188,008 Interest cost (2) (2,909,555) 1,545,832 188,052 94,061 2,777,427 64,999,656 1,070,365 — 67,765,838 (1) Included in financing income. (2) Included in financing cost. For the three-month period ended June 30, 2024 Exploration Industrial Logistics DPRLP Trading Corporate Other Intersegment Total Revenues: Trade Ps. 80,381,858 162,876,687 — 36,443,936 125,830,318 — 3,312,152 — Ps. 408,844,951 Intersegment 127,496,911 83,025,869 21,356,659 4,191,797 131,813,310 3,984,549 13,845,389 (385,714,484) — Services income 7,062 129,672 125,330 189 413,480 229 7,153 — 683,115 (Impairment) of wells, pipelines, properties, plant and equipment, net 26,544,569 (36,447,717) — — — — — — (9,903,148) Cost of sales 128,940,546 286,417,550 17,770,354 43,208,832 255,261,210 345,972 13,725,122 (382,103,636) 363,565,950 Gross income 105,489,854 (76,833,039) 3,711,635 (2,572,910) 2,795,898 3,638,806 3,439,572 (3,610,848) 36,058,968 Distribution, transportation and sale expenses 176,671 6,460,984 75,331 — 44,547 105,190 7,598 (1,633,383) 5,236,938 Administrative expenses 4,980,119 13,130,212 3,113,482 407,525 973,831 21,089,075 2,028,930 (1,971,427) 43,751,747 Other revenues 2,275,170 1,202,875 288,531 4,477 132,892 94,448 333,101 — 4,331,494 Other expenses 1,934,080 628,408 73,329 39 2,875 31 107,510 7,394 2,753,666 Operating (loss) income 100,674,154 (95,849,768) 738,024 (2,975,997) 1,907,537 (17,461,042) 1,628,635 (13,432) (11,351,889) Financing income 18,118,052 111,964 5,085,301 294,335 303,587 45,927,650 472,615 (66,658,342) 3,655,162 Financing cost 35,781,051 9,070,167 113,516 59,622 1,705,639 56,110,727 845,777 (66,671,774) 37,014,725 Derivative financial instruments (cost) income, net 3,101,430 134,318 — 50,114 (123,788) (13,226,530) — — (10,064,456) Foreign exchange (loss) income — net (40,337,478) (143,297,563) (232,514) — (469,194) 25,072,565 (419,055) — (159,683,239) Profit sharing in associates 118,177 141,501 1,000 — (3,405,399) (248,337,275) (7,991,634) 259,707,949 234,319 Total duties, taxes and other 45,955,816 — 2,048,151 14,297 1,585,992 9,179,826 320,653 — 59,104,735 Net (loss) income Ps. (62,532) (247,829,715) 3,430,144 (2,705,467) (5,078,888) (273,315,185) (7,475,869) 259,707,949 Ps. (273,329,563) Depreciation and amortization of wells, pipelines, properties, plant and equipment 36,032,330 2,462,100 1,546,745 546,688 68,092 141,106 580,871 — 41,377,932 Depreciation of rights of use 79,551 806,040 101,379 141,115 165,334 150,632 51,979 — 1,496,030 Net periodic cost of employee benefits 9,524,925 13,625,957 2,132,369 — (838) 8,498,722 15,399 — 33,796,534 Interest income (1) 60,432 103,461 5,881 80,210 123,309 1,669,357 357,094 — 2,399,744 Interest cost (2) (1,289,026) 803,101 113,494 59,622 1,281,389 34,001,347 645,160 — 35,615,087 (1) Included in financing income. (2) Included in financing cost. 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) 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 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 revenues 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 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 income (cost) income, 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 sharing in 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) Ps. 82,159,155 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. 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) 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 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 revenues 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 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 income (cost) income, 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 sharing in 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 (15,781,255) 5,104,033 1,842,837 3,696,635 25,439,157 7,590,448 (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 December 31, 2023 Exploration Industrial Logistics DPRLP Trading Companies Corporate Other Intersegment Total Total current assets Ps. 909,819,796 218,747,813 274,384,409 34,058,111 235,899,424 1,850,711,295 111,621,072 (3,096,701,174) Ps. 538,540,746 Total non-current assets 910,837,120 521,938,961 162,309,993 27,058,584 101,729,105 158,576,028 448,587,744 (566,102,945) 1,764,934,590 Total current liabilities 629,264,289 1,161,203,831 89,855,544 10,696,459 182,349,198 2,071,859,608 75,119,615 (3,096,630,883) 1,123,717,661 Total non-current liabilities 1,727,159,904 625,142,251 83,574,554 3,191,749 1,247,810 1,590,289,886 58,281,618 (1,256,151,287) 2,832,736,485 Equity (deficit), net (535,767,277) (1,045,659,308) 263,264,304 47,228,487 154,031,521 (1,652,862,171) 426,807,583 689,978,051 (1,652,978,810) |
Revenue
Revenue | 6 Months Ended |
Jun. 30, 2024 | |
Disclosure of disaggregation of revenue from contracts with customers [abstract] | |
Revenue | REVENUE For the six- and three-month periods ended June 30, 2024 and 2023, the revenues were as follows: A. Revenue disaggregation For the six-month periods ended June 30, Exploration and Production Industrial Transformation Logistics DPRLP Trading Corporate Other Operating Total Geographical market 2024 United States Ps. 96,756,643 — — 75,731,697 65,649,467 — 811,609 Ps. 238,949,416 Other 36,025,623 — — — 13,092,036 — 222,843 49,340,502 Europe 34,799,292 — — — 9,149,300 — — 43,948,592 Local 72,828 321,497,210 247,635 — 150,467,243 439 10,902,580 483,187,935 Total Ps. 167,654,386 321,497,210 247,635 75,731,697 238,358,046 439 11,937,032 Ps. 815,426,445 2023 United States Ps. 136,012,733 — — 81,871,944 68,962,617 — 869,253 Ps. 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 552,684 391,764,574 884,275 — 61,040,076 457 9,101,787 463,343,853 Total Ps. 210,221,874 391,764,574 884,275 81,871,944 137,841,155 457 10,011,560 Ps. 832,595,839 Major products and services 2024 Crude oil Ps. 167,581,559 — — — 5,465,724 — — Ps. 173,047,283 Gas 59,629 27,504,727 — — 8,865,441 — — 36,429,797 Refined petroleum products — 284,534,147 — 53,347,376 220,926,956 — — 558,808,479 Other — 9,281,667 — 22,384,132 2,190,121 — 11,922,829 45,778,749 Services 13,198 176,669 247,635 189 909,804 439 14,203 1,362,137 Total Ps. 167,654,386 321,497,210 247,635 75,731,697 238,358,046 439 11,937,032 Ps. 815,426,445 2023 Crude oil Ps. 210,131,099 — — — 1,955,375 — — Ps. 212,086,474 Gas 77,596 31,648,990 — 2,439,805 17,270,489 — — 51,436,880 Refined petroleum products — 357,716,951 — 539,640 117,146,844 — — 475,403,435 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 Ps. 832,595,839 Timing of revenue recognition 2024 Products transferred at a point in time Ps. 167,641,188 314,036,908 247,635 75,731,508 237,448,242 — 11,922,829 Ps. 807,028,310 Products and services transferred over the time 13,198 7,460,302 — 189 909,804 439 14,203 8,398,135 Total Ps. 167,654,386 321,497,210 247,635 75,731,697 238,358,046 439 11,937,032 Ps. 815,426,445 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 Ps. 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 Ps. 832,595,839 For the three-month periods ended June 30, Exploration and Production Industrial Transformation Logistics DPRLP Trading Corporate Other Operating Total Geographical market 2024 United States Ps. 48,224,823 — — 36,444,125 32,925,569 — 340,753 Ps. 117,935,270 Other 17,168,338 — — — 8,191,343 — 109,926 25,469,607 Europe 14,963,126 — — — 4,181,483 — — 19,144,609 Local 32,633 163,006,359 125,330 — 80,945,403 229 2,868,626 246,978,580 Total Ps. 80,388,920 163,006,359 125,330 36,444,125 126,243,798 229 3,319,305 Ps. 409,528,066 2023 United States Ps. 69,342,075 — — 43,120,332 34,568,985 — 400,358 Ps. 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 502,029 178,889,860 938,914 — 34,264,175 225 5,888,446 220,483,649 Total Ps. 110,953,043 178,889,860 938,914 43,120,332 73,937,905 225 6,316,577 Ps. 414,156,856 Major products and services 2024 Crude oil Ps. 80,356,287 — — — 1,671,627 — — Ps. 82,027,914 Gas 25,571 10,779,929 — — 3,039,975 — — 13,845,475 Refined petroleum products — 142,925,672 — 24,604,116 118,997,748 — — 286,527,536 Other — 9,171,086 — 11,839,820 2,120,968 — 3,312,152 26,444,026 Services 7,062 129,672 125,330 189 413,480 229 7,153 683,115 Total Ps. 80,388,920 163,006,359 125,330 36,444,125 126,243,798 229 3,319,305 Ps. 409,528,066 2023 Crude oil Ps. 110,912,923 — — — 1,274,349 — — Ps. 112,187,272 Gas 33,701 13,975,569 — 2,439,805 6,791,280 — — 23,240,355 Refined petroleum products — 164,464,485 — (34,383,489) 65,086,715 — — 195,167,711 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 Ps. 414,156,856 Timing of revenue recognition 2024 Products transferred at a point in time Ps. 80,381,858 160,964,803 125,330 36,443,936 125,830,318 — 3,312,152 Ps. 407,058,397 Products and services transferred over the time 7,062 2,041,556 — 189 413,480 229 7,153 2,469,669 Total Ps. 80,388,920 163,006,359 125,330 36,444,125 126,243,798 229 3,319,305 Ps. 409,528,066 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 Ps. 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 Ps. 414,156,856 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”). 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. Products / services Nature, performance obligations Timing of revenue recognition 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, 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. 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, 2024 and December 31, 2023, PEMEX had accounts receivable derived from customer contracts in the amounts of Ps.130,341,132 and Ps.111,394,431, 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 gasoline is traded in the domestic market, effective until December 31, 2024. The automotive incentive is included in the domestic revenues line item in the Statement of Comprehensive Income. |
Financial instruments
Financial instruments | 6 Months Ended |
Jun. 30, 2024 | |
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, 2024 and December 31, 2023. 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. Carrying amount Fair value hierarchy As of June 30, 2024 FVTPL FVOCI – FVOCI – Financial Other financial Total carrying Level 1 Level 2 Level 3 Total Financial assets measured at fair value Derivative financial instruments 8,874,917 — — — — 8,874,917 — 8,874,917 — 8,874,917 Equity instruments (1) — — 552,355 — — 552,355 — 552,355 — 552,355 Total 8,874,917 — 552,355 — — 9,427,272 Financial assets not measured at fair value Cash and cash equivalents — — — 66,735,531 — 66,735,531 — — — — Customers — — — 130,341,132 — 130,341,132 — — — — Officials and employees — — — 5,852,347 — 5,852,347 — — — — Sundry debtors — — — 40,836,160 — 40,836,160 — — — — Investments in associates — — — 2,053,711 — 2,053,711 — — — — Notes receivable — — — 995,269 — 995,269 — — — — Mexican Government Bonds — — — 53,293,310 — 53,293,310 52,166,173 — — 52,166,173 Other assets — — — 5,347,634 — 5,347,634 — — — — Total — — — 305,455,094 — 305,455,094 Financial liabilities measured at fair value Derivative financial instruments (54,298,400) — — — — (54,298,400) — (54,298,400) — (54,298,400) Total (54,298,400) — — — — (54,298,400) Financial liabilities not measured at fair value Suppliers — — — — (362,517,039) (362,517,039) — — — — Accounts and accrued expenses payable — — — — (94,738,999) (94,738,999) — — — — Leases — — — — (45,389,051) (45,389,051) — — — — Debt — — — — (1,826,548,627) (1,826,548,627) — (1,618,209,028) — (1,618,209,028) Total — — — — (2,329,193,716) (2,329,193,716) (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, 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 9,926,384 — — — — 9,926,384 — 9,926,384 — 9,926,384 Equity instruments (1) — — 552,355 — — 552,355 — 552,355 — 552,355 Total 9,926,384 — 552,355 — — 10,478,739 Financial assets not measured at fair value Cash and cash equivalents — — — 68,747,376 — 68,747,376 — — — — Customers — — — 111,394,431 — 111,394,431 — — — — Officials and employees — — — 5,633,492 — 5,633,492 — — — — Sundry debtors — — — 35,253,635 — 35,253,635 — — — — Investments in associates — — — 1,854,803 — 1,854,803 — — — — Notes receivable — — — 1,179,706 — 1,179,706 — — — — Mexican Government Bonds — — — 64,132,418 — 64,132,418 62,731,992 — — 62,731,992 Other assets — — — 6,109,398 — 6,109,398 — — — — Total — — — 294,305,259 — 294,305,259 Financial liabilities measured at fair value Derivative financial instruments (36,494,962) — — — — (36,494,962) — (36,494,962) — (36,494,962) Total (36,494,962) — — — — (36,494,962) Financial liabilities not measured at fair value Suppliers — — — — (368,345,849) (368,345,849) — — — — Accounts and accrued expenses payable — — — — (83,646,764) (83,646,764) — — — — Leases — — — — (41,848,333) (41,848,333) — — — — Debt — — — — (1,794,470,357) (1,794,470,357) — (1,577,509,797) — (1,577,509,797) Total — — — — (2,288,311,303) (2,288,311,303) (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, or Mark-to-Market (MtM), 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 MtM 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. Given that PEMEX’s hedges are cash flow hedges, their effectiveness is preserved regardless of the variations in the underlying assets or reference variables since, through time, asset flows are 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 condensed consolidated interim 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 (cost) income, net” line item in the consolidated statement of comprehensive income. As of June 30, 2024, and December 31, 2023, the net fair value of PEMEX’s DFIs, including embedded derivatives DFIs that have not reached maturity and those that have reached maturity but have not been settled, recognized in the condensed consolidated interim statement of financial position, was Ps. (45,423,483) and Ps. (26,568,577), respectively. As of June 30, 2024, and December 31, 2023, 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 (cost) income, net” line item in the condensed consolidated interim statement of comprehensive income. For the six-month periods ended June 30, 2024, and 2023, PEMEX recognized a net (loss) gain of Ps.(15,783,317) and Ps.2,788,339, respectively, in the “Derivative financial instruments (cost) income, net” line item with respect to DFIs treated as instruments entered into for trading purposes (the loss as of June 30, 2024, includes the loss from the cancellation of the embedded derivative). In accordance with established accounting policies, PEMEX has analyzed the different non-financial 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, 2024, and December 31, 2023, PEMEX did not recognize any embedded derivatives (foreign currency or index) in the non-financial contracts. As of December 31, 2023, PEMEX had recognized a favorable implicit forward of Ps.194,194 contained in an FX Single Cross Currency Swap contract, which expired in February 2024. As of June 30, 2024, PEMEX did not recognize the effects from embedded derivatives in the financial contracts. 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, ceased being published in 2022 and were replaced by alternative reference rates, based on risk-free rates (“RFRs”) 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"). Therefore, PEMEX reviewed contracts expiring after the applicable discontinuation dates, that could be impacted by the change in the aforementioned rates and has carried out all the relevant negotiations with its counterparts to establish the new rates in their contracts. As of December 31, 2023, PEMEX amended the financial instruments referenced to IBOR variable rates and has established the corresponding financial instruments referenced to RFR. Furthermore, because of the reference rate transition based on RFR, PEMEX has adopted the policy of not entering into new DFIs referenced to IBOR rates. Additionally, the construction of the discount curves that PEMEX uses to calculate the fair value of its DFIs includes financial instruments referenced to the corresponding currency RFR now applied. As a result of the policy, from 2021 to June 30, 2024, PEMEX only contracted financing operations in U.S. dollars at floating rates linked to the new RFR rates. In the event that TIIE ceases to be published, the financial instruments portfolio referenced to these floating rates is composed of debt instruments and DFIs as shown below: *Notional Amounts As of June 30, 2024 Reference Rate (in thousands of Mexican pesos) Debt TIIE 28D MXN 191,014,074 TIIE 91D MXN 13,801,317 DFI TIIE 28D MXN 31,733,673 *Note: Notional amounts with maturity after June 30, 2024. Regarding this matter, Banco de México (the Mexican Central Bank) announced that the 28-day TIIE will cease to be a reference for new contracts starting from January 1, 2025. Similarly, the 91-day and 182-day TIIE ceased to be references for new contracts starting from January 1, 2024. Petróleos Mexicanos will take the necessary steps to modify the contracts referenced to TIIE rates in accordance with the modifications announced by Banco de México. PEMEX’s portfolio also consists of additional debt instruments and DFIs referenced at fixed rates, which are not listed in the table above since PEMEX’s fixed rate portfolio will not be impacted by the IBOR transition. According to the general market practice, PMI Trading credit agreements include the new language to use the Secured Overnight Funding Rate (SOFR) as the benchmark rate. |
Cash and Cash Equivalents
Cash and Cash Equivalents | 6 Months Ended |
Jun. 30, 2024 | |
Cash and cash equivalents [abstract] | |
Cash and Cash Equivalents | CASH AND CASH EQUIVALENTS As of June 30, 2024 and December 31, 2023, cash and cash equivalents were as follows: June 30, 2024 December 31, 2023 Cash on hand and in banks (1) Ps. 45,387,244 Ps. 45,728,321 Highly liquid investments (2) 21,348,287 23,019,055 Total of cash and cash equivalents Ps. 66,735,531 Ps. 68,747,376 (1) Cash on hand and in banks is primarily composed of cash in banks. (2) |
Customers and Other Financing a
Customers and Other Financing and Non-Financing Accounts Receivable | 6 Months Ended |
Jun. 30, 2024 | |
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, 2024 and December 31, 2023, accounts receivable and other receivables were as follows: A. Customers June 30, 2024 December 31, 2023 Domestic customers, net Ps. 88,799,646 Ps. 79,069,658 Export customers, net 41,541,486 32,324,773 Total customers, net Ps. 130,341,132 Ps. 111,394,431 B. Other financial and non-financial accounts receivable June 30, 2024 December 31, 2023 Financial assets: Sundry debtors (1) Ps. 40,836,160 Ps. 35,253,635 Employees and officers 5,852,347 5,633,492 Total financial assets Ps. 46,688,507 Ps. 40,887,127 Non-financial assets: Taxes to be recovered and prepaid taxes Ps. 69,013,916 Ps. 155,336,028 Special Tax on Production and Services 6,313,278 2,603,657 Other accounts receivable 3,616,062 5,139,993 Total non-financial assets Ps. 78,943,256 Ps. 163,079,678 (1) Includes Ps.(898,072) and Ps.(827,739) of impairment, as of June 30, 2024 and December 31, 2023, respectively. |
Inventories
Inventories | 6 Months Ended |
Jun. 30, 2024 | |
Disclosure of inventories [abstract] | |
Inventories | INVENTORIES As of June 30, 2024 and December 31, 2023, inventories were as follows: June 30, 2024 December 31, 2023 Refined and petrochemicals products Ps. 45,560,793 Ps. 51,455,826 Crude oil 28,227,592 28,428,427 Products in transit 22,955,930 25,510,618 Materials and products in stock 6,640,238 5,870,013 Gas and condensate products 149,592 160,180 Materials in transit 24,060 610,928 Ps. 103,558,205 Ps. 112,035,992 |
Investments in Associates
Investments in Associates | 6 Months Ended |
Jun. 30, 2024 | |
Investments in subsidiaries, joint ventures and associates reported in separate financial statements [abstract] | |
Investments in Associates | INVESTMENTS IN ASSOCIATES A. The investments in associates as of June 30, 2024 and December 31, 2023 were as follows: Percentage June 30, 2024 December 31, 2023 Sierrita Gas Pipeline LLC 35.00% Ps. 877,307 Ps. 879,616 Frontera Brownsville, LLC. 50.00% 381,253 354,691 Administración del Sistema Portuario Nacional Dos Bocas, S. A. de C.V. 40.00% 226,606 74,529 Texas Frontera, LLC. 50.00% 204,788 178,421 Other, net Various 198,668 183,898 CH4 Energía, S. A. de C.V. 50.00% 165,089 183,648 Ps. 2,053,711 Ps. 1,854,803 Profit sharing in associates: Six-month periods ended June 30, 2024 2023 Administración del Sistema Portuario Nacional Dos Bocas, S.A. de C.V. Ps. 152,078 Ps. 21,256 Sierrita Gas Pipeline LLC 42,092 28,753 Other, net 34,707 46,128 CH4 Energía S.A. de C.V. 21,441 22,970 Texas Frontera, LLC. 17,304 31,239 Ductos el Peninsular, S. A. P. I. de C. V. 1,024 — Frontera Brownsville, LLC. (3,430) 1,623 Profit sharing in associates Ps. 265,216 Ps. 151,969 Three-month periods ended June 30, 2024 2023 Administración del Sistema Portuario Nacional Dos Bocas, S.A. de C.V. Ps. 138,860 Ps. (9,042) Sierrita Gas Pipeline LLC 42,092 (778) Other, net 34,707 20,729 Texas Frontera, LLC. 9,812 19,351 CH4 Energía S.A. de C.V. 9,024 11,049 Ductos el Peninsular, S. A. P. I. de C. V. 1,024 — Frontera Brownsville, LLC. (1,200) 704 Profit sharing in associates Ps. 234,319 Ps. 42,013 B. Additional information about the significant investments in associates is presented below: • 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 del Sistema Portuario Nacional Dos Bocas S.A. de C.V. (previously 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, 2024 | |
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, 2024, 2023 and December 31, 2023, 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, 2023 Ps. 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 Ps. 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 Ps. 4,227,122,075 Balances as of January 1, 2023 Ps. 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 Ps. 4,150,256,095 Acquisitions 24,218,720 5,271,100 4,266,300 36,368,940 24,280 2,164,860 2,564,910 3,447,500 249,698,512 140,930 328,166,052 Reclassifications 3,396,480 — 103,670 2,967,760 (197,220) (2,648,540) (246,280) 1,000 3,855,890 — 7,232,760 Capitalization 15,580,570 — 15,121,590 71,789,810 1,739,570 7,966,840 1,119,100 883,390 (114,200,870) — — Disposals (8,316,930) (1,198,300) (21,457,210) (2,321,630) (52,680) (2,587,350) (611,940) (78,490) (1,360,990) (37,300) (38,022,820) Translation effect (17,728,270) — (273,420) — (1,423,660) — (90,310) (562,380) (31,513,360) (340,630) (51,932,030) Balances as of December 31, 2023 Ps. 1,070,987,449 18,913,795 491,444,562 1,695,212,594 73,956,002 425,259,020 53,545,137 32,988,437 480,504,766 52,888,295 Ps. 4,395,700,057 Acquisitions 4,184,350 3,992,350 2,495,830 23,945,850 6,970 34,420 876,130 429,130 92,933,750 — 128,898,780 Reclassifications 596,770 — 488,180 1,148,690 51,250 (550,380) 309,580 51,810 (7,470) — 2,088,430 Capitalization 15,917,040 — 219,830 30,853,870 906,090 — 292,640 26,830 (48,243,720) 27,420 — Disposals (552,510) — (990) — (13,500) — (883,250) (209,220) (3,430,000) (5,080) (5,094,550) Translation effect 10,789,180 — (827,820) — 865,680 — 66,190 324,360 16,092,850 196,530 27,506,970 Balances as of June 30, 2024 Ps. 1,101,922,279 22,906,145 493,819,592 1,751,161,004 75,772,492 424,743,060 54,206,427 33,611,347 537,850,176 53,107,165 Ps. 4,549,099,687 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, 2023 Ps. (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) — Ps. (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) — Ps. (2,895,702,270) Balances as of January 1, 2023 Ps. (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) — Ps. (2,781,505,245) Depreciation and amortization (33,219,850) (714,350) (12,824,020) (73,618,580) (1,858,330) (12,164,310) (1,645,720) (1,510,116) — — (137,555,276) Reclassifications 45,407,770 — (46,118,320) (6,926,040) 327,930 109,160 (12,330) 74,390 (95,320) — (7,232,760) (Impairment) (45,202,986) — (22,452,490) (55,380,990) — (26,134,930) — — (4,808,840) — (153,980,236) Reversal of impairment 19,244,900 — 18,153,170 52,926,380 23,570 29,485,650 10,100 33,078 5,305,870 — 125,182,718 Disposals 7,510,670 411,410 18,624,270 1,216,350 41,730 2,064,410 587,800 55,608 — — 30,512,248 Translation effect 10,150,720 — 196,130 — 693,390 — 57,640 102,780 — — 11,200,660 Balances as of December 31, 2023 Ps. (785,552,629) (6,896,584) (308,862,775) (1,341,888,963) (48,568,206) (300,832,110) (46,934,913) (16,908,292) (56,933,419) — Ps. (2,913,377,891) Depreciation and amortization (16,226,649) (350,870) (5,582,490) (42,484,220) (876,000) (7,073,410) (797,140) (867,850) — — (74,258,629) Reclassifications (117,840) — (488,180) (1,148,790) (18,750) 46,270 (309,430) (51,810) 100 — (2,088,430) (Impairment) (37,860,556) — (4,202,050) (7,932,150) — (2,393,760) — — (1,428,080) — (53,816,596) Reversal of impairment 8,301,490 — 2,143,360 14,728,060 — 5,537,470 62,440 — 5,494,785 — 36,267,605 Disposals 437,904 — 970 — 6,200 — 880,180 130,944 — — 1,456,198 Translation effect (6,453,850) — 834,640 — (404,820) — (32,060) (74,000) — — (6,130,090) Balances as of June 30, 2024 Ps. (837,472,130) (7,247,454) (316,156,525) (1,378,726,063) (49,861,576) (304,715,540) (47,130,923) (17,771,008) (52,866,614) — Ps. (3,011,947,833) 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 Ps. 1,331,419,805 Wells, pipelines, properties, plant and equipment—net as of December 31, 2023 Ps. 285,434,820 12,017,211 182,581,787 353,323,631 25,387,796 124,426,910 6,610,224 16,080,145 423,571,347 52,888,295 Ps. 1,482,322,166 Wells, pipelines, properties, plant and equipment—net as of June 30, 2024 Ps. 264,450,149 15,658,691 177,663,067 372,434,941 25,910,916 120,027,520 7,075,504 15,840,339 484,983,562 53,107,165 Ps. 1,537,151,854 Depreciation rates 3 to 5% 5% 2 to 7% — 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. For the six-month periods ended June 30, 2024 and 2023, 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.4,767,020, and Ps.2,389,748, respectively. Financing cost rates during the six-month periods ended June 30, 2024 and 2023 were 7.82% to 18.68%, and 6.47% to 7.54%, respectively. B. The combined depreciation of fixed assets and amortization of wells for the six-month periods ended June 30, 2024 and 2023, recognized in operating costs and expenses, was Ps.74,258,629 and Ps.56,791,178, respectively. These figures include Ps.91,114 and Ps.30,330 for oil and gas production assets and costs related to plugging and abandonment of wells for the six-month periods ended June 30, 2024 and 2023, respectively. C. As of June 30, 2024 and December 31, 2023, provisions relating to future plugging of wells costs amounted to Ps.69,121,263 and Ps.61,117,106, respectively, and are presented in the “Provisions for plugging of wells” (see Note 17). D. For the six-month periods ended June 30, 2024 and 2023, the translation effect of property, plant and equipment items from a different currency than the presentation currency was Ps.21,376,880 and Ps.(37,151,380), respectively, which was mainly plant. E. During the six-month periods ended June 30, 2024 and 2023, PEMEX recognized a net (impairment) of Ps.(17,548,991) and Ps.(66,084,491), respectively, which is presented as a separate line item in the condensed consolidated interim statement of comprehensive income as follows: For the six-month periods ended June 30, 2024 2023 (Impairment) / Pemex Industrial Transformation Ps. (36,392,092) Ps. (6,548,396) Pemex Logistics (171,830) — Pemex Exploration and Production 19,014,931 (59,536,095) (Impairment), net Ps. (17,548,991) Ps. (66,084,491) Cash-Generating Unit of Pemex Exploration and Production During the six-month periods ended June 30, 2024 and 2023 , Pemex Exploration and Production recognized a reversal of impairment and net (impairment) of Ps. 19,014,931 and Ps. (59,536,095) , respectively, shown by CGUs as follows: 2024 2023 Cantarell Ps. 15,095,434 Ps. (2,851,694) Aceite Terciario del Golfo 7,032,771 (6,634,837) Lakach 2,845,690 2,905,272 Ayin Alux 2,516,348 — Tamaulipas Constituciones 1,665,580 (742,705) Arenque 1,185,779 (528,440) Burgos 546,186 (5,995,860) Antonio J. Bermúdez 385,159 (1,139,810) Poza Rica 108,370 (751,664) Cuenca Macuspana 35,600 (70,075) Cárdenas Mora CEE — 3,805 Chuc — (19,216,570) Crudo Ligero Marino — (7,863,676) Ixtal - Manik — (4,837,174) Santuario CEE — (112,355) Misión CEE (78,381) (28,177) Ogarrio Magallanes (3,939,798) (6,448,126) Tsimin Xux (8,383,807) (5,224,009) Total Ps. 19,014,931 Ps. (59,536,095) As of June 30, 2024 Pemex Exploration and Production recognized a net reversal of impairment of Ps.19,014,931 mainly due to: (i) an increase in crude oil prices, generating a positive effect of Ps.44,797,611 mainly in the Cantarell, Aceite Terciario del Golfo and Tamaulipas Constituciones CGUs; (ii) a positive effect of Ps.18,466,156, due to the fluctuations of the exchange rate from Ps.16.9220 = U.S.$1.00 as of December 31, 2023, to Ps.18.3773 = U.S.$1.00 as of June 30, 2024; and (iii) an increase in production profiles volume in the barrel of crude oil equivalent generating a positive effect of Ps.11,465,783, due to changes in operational strategy such as the case of the Cantarell CGU in the exploitation of the gas cap. These effects were partially offset by (i) an increase in the discount rate of Ps.37,235,627, from 9.93% in December 31, 2023 to 10.44% in June 30, 2024; (ii) a negative tax effect of Ps.11,496,977, due to an increase in tax base, resulting from higher prices and volume at the Tsimin Xux and Ogarrio – Magallanes CGUs; and (iii) higher expenses in the period generating a negative result of Ps.6,982,015, mainly Tsimin Xux and Ogarrio – Magallanes CGUs. 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.$1.00 as of June 30, 2023 and (iii) an increase in the discount rate of Ps.13,119,343, from 9.31% in December 31, 2022 to 10.42% in June 30, 2023, due to the increase in the debt component in the Weighted Average Cost of Capital (“WAAC”) derived from the rise in global interest rates, which impacted PEMEX's benchmark rates that oil and gas industry uses to determine these discount rates. These effects were partially offset by (i) a positive effect of Ps.42,858,913 due to an increase in crude oil prices; (ii) a positive tax effect of Ps.23,439,232, due to the decrease in production profiles volume in the barrel of crude oil equivalent and (iii) a positive effect of Ps.2,207,404 due to lower freight and distribution costs. The CGUs of Pemex Exploration and Production are investment projects in productive fields with hydrocarbon reserves associated with proved reserves. These productive hydrocarbon fields contain varying degrees of heating power consisting of a set of wells and are supported by fixed assets associated directly with production, such as pipelines, production facilities, offshore platforms, specialized equipment and machinery. Each project represents the smallest unit which can concentrate the core revenues, with clear costs and expenses that enable future cash flows (value in use) to be determined. Pemex Exploration and Production determines the recoverable amount of fixed assets based on the long-term estimated prices for Pemex Exploration and Production’s proved reserves. The recoverable amount on each asset is the value in use. To determine the value in use of long-lived assets associated to hydrocarbon extraction, the net present value of reserves is determined based on the following assumptions: As of June 30 2024 2023 Average crude oil price 65.81 U.S.$/bl 61.72 U.S.$/bl Average gas price 4.92 U.S.$/mpc 4.96 U.S.$/mpc Average condensates price 74.92 U.S.$/bl 67.57 U.S.$/bl After-tax discount rate 10.44% annual 10.42% annual For the six-month periods ended June 30, 2024 and 2023, the total forecast production, calculated with a horizon of 25 years, was 6,682 billion barrels per day (Bbd) and 6,685 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, 2024 and 2023, values in use for CGU are: 2024 2023 Chuc Ps. 62,681,511 Ps. 36,565,512 Aceite Terciario del Golfo 34,325,751 37,276,319 Crudo Ligero Marino 33,518,405 17,206,881 Cantarell 33,149,103 — Ogarrio Magallanes 28,348,410 24,027,128 Antonio J. Bermúdez 25,737,767 8,654,361 Tsimin Xux 24,453,758 27,851,730 Ixtal - Manik 13,840,302 6,472,463 Poza Rica 6,716,573 5,500,551 Tamaulipas Constituciones 6,024,454 1,931,129 Ayin Alux 4,955,853 — Lakach 4,086,521 3,328,644 Burgos 3,776,739 7,399,377 Arenque 3,658,416 4,084,877 Cuenca de Macuspana 593,807 — Total Ps. 285,867,370 Ps. 180,298,972 Cash-Generating Units of Pemex Industrial Transformation As of June 30, 2024 and 2023 , Pemex Industrial Transformation recognized a net impairment of Ps. (36,392,092) and Ps. (6,548,396) , respectively, shown by CGUs as follows: 2024 2023 Minatitlán Refinery Ps. (15,146,588) Ps. (4,558,203) Ciudad Pemex Gas Processor Complex (5,265,217) — Madero Refinery (5,039,912) (10,210,354) Cactus Gas Processor Complex (2,983,894) — Cosoleacaque Petrochemical Complex (1,985,563) (1,301,741) Gas Burgos Gas Processor Complex (1,729,422) (808,931) Morelos Petrochemical Complex (1,179,313) 3,208,249 Nuevo Pemex Gas Processor Complex (1,141,900) 1,080,820 Coatzacoalcos Gas Processor Complex (952,880) — Cangrejera Ethylene Complex (486,975) — La Venta Gas Processor Complex (450,034) — Tula Refinery (108,056) — Matapionche Gas Processor Complex (45,226) (156,642) Gas Arenque Processor Complex (2,420) (104,647) Cangrejera Petrochemical Complex 106 524,059 Salamanca Refinery 393 5,750,652 Pajaritos Ethylene Complex 55,743 — Gas Poza Rica Processor Complex 69,066 28,342 Total Ps. (36,392,092) Ps. (6,548,396) As of June 30, 2024, Pemex Industrial Transformation recognized a net impairment of Ps.(36,392,092) due to a (i) decrease in estimated gross income as a result of adverse operation conditions and market situation; (ii) an increase in the discount rate of CGUs of refined products from 13.68% as of December 31, 2023 to 14.50% as of June 30, 2024, and (iii) variations in the exchange rate used in the projected cash-flows from Ps.16.9220 = U.S.$1.00 as of December 31, 2023 to Ps.18.3773 = U.S. $1.00 as of June 30, 2024. 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.$1.00 as of June 30, 2023. These effects were partially offset by (i) an improvement in production levels as a result of application of rehabilitation program and (ii) a slight decrease in the discount rate of CGUs of refined products by 14.16% as of December 31, 2022 to 14.10% as of June 30, 2023. To determine the value in use of long-lived assets associated with the CGUs of Pemex Industrial Transformation, the net present value of cash flows was determined based on the following assumptions: As of June 30, 2024 2023 2024 2023 2024 2023 2024 2023 2024 2023 Refining Gas Petrochemicals Ethylene Fertilizers Average crude oil Price (U.S.$) 105.12 75.2 N.A. N.A. N.A. N.A. Processed volume (1) 1,029 mbd 903 mbd 2,424 mmpcd of humid gas 2,575 mmpcd of humid gas Variable because the load inputs are diverse Variable because the load inputs are diverse Variable because the load inputs are diverse Rate of U.S.$ 18.3773 17.072 18.3773 17.072 18.3773 17.072 18.3773 17.072 18.3773 17.072 Useful lives of the cash-generating units (year average) 11 11 6 6 5 5 5 5 5 5 Pre-tax discount rate 14.50% 14.10 14.12% 13.26% 10.85% 10.46% 10.85% 10.46% 11.87% 13.05% Period (2) 2024-2034 2023-2033 2024-2029 2023-2028 2024-2028 2023-2027 2024-2028 2023-2027 2024-2028 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, 2024 and 2023 , the value in use for the impairment of fixed assets was as follows: 2024 2023 Salina Cruz Refinery Ps. 79,920,687 Ps. 44,338,748 Tula Refinery 47,008,486 55,664,585 Salamanca Refinery 36,234,540 28,617,019 Nuevo Pemex Gas Processor Complex 6,734,674 27,965,299 Ciudad Pemex Gas Processor Complex 6,278,504 — Cactus Gas Processor Complex 4,360,278 — La Venta Gas Processor Complex 980,146 — Coatzacoalcos Gas Processor Complex 905,502 — Madero Refinery — 730,425 Burgos Gas Processor Complex — 965,475 Morelos Petrochemicals Complex — 2,969,979 Cosoleacaque Petrochemical Complex — 858,643 Total Ps. 182,422,817 Ps. 162,110,173 Cash-Generating Units of Pemex Logistics During the six -month period ended June 30, 2024 , Pemex Logistics recognized a net impairment of Ps. (171,830) due to: an increase in the discount rate used for the project future cash flows in storage terminals from 14.80% as of December 31, 2023 to 15.62% as of June 30, 2024. CGU in Pemex Logistics are storage terminals, pipelines and transport equipment. The recoverable amounts of Ps.67,999,814 of the assets as of June 30, 2024, corresponding to the discounted cash flows at the rate of 15.62% and 17 years of useful live. |
Intangible Assets, Net
Intangible Assets, Net | 6 Months Ended |
Jun. 30, 2024 | |
Disclosure of detailed information about intangible assets [abstract] | |
Intangible Assets, Net | INTANGIBLE ASSETS, NET As of June 30, 2024 and December 31, 2023, intangible assets, net were mainly wells unassigned to a reserve and other components of intangible assets, which amounted to Ps.22,225,979 and Ps.20,350,819, respectively: A. Wells unassigned to a reserve As of June 30, 2024 2023 Wells unassigned to a reserve: Balance at the beginning of the year Ps. 18,940,360 Ps. 28,388,655 Additions to construction in progress 15,850,475 18,994,442 Transfers against expenses (10,836,456) (15,667,953) Transfers against fixed assets (3,368,473) (10,669,293) Balance at the end of the period Ps. 20,585,906 Ps. 21,045,851 As of June 30, 2024 and 2023, PEMEX recognized expenses related to unsuccessful wells of Ps.18,453,255 and Ps.17,105,924 respectively, directly in its statement of comprehensive income. B. Other intangible assets Other intangible assets are mainly licenses, exploration expenses, evaluation of assets and concessions. As of June 30, 2024 2023 Balance at the beginning of the year Ps. 1,410,459 Ps. 1,636,280 Additions 324,725 297,387 Effects of foreign exchange 80,963 (161,042) Amortization (176,074) (196,096) Balance at the end of the period Ps. 1,640,073 Ps. 1,576,529 |
Government Bonds and Other Asse
Government Bonds and Other Assets | 6 Months Ended |
Jun. 30, 2024 | |
Disclosure Of Notes Receivable Government Bonds And Other Long Term Assets [Abstract] | |
Government Bonds and Other Assets | GOVERNMENT BONDS AND OTHER ASSETS A. Government bonds The following table sets forth the balance of Mexican Government local bonds (the “Government Bonds”) held by Petróleos Mexicanos valued at amortized cost as of June 30, 2024 and December 31, 2023: June 30, 2024 December 31, 2023 Government Bonds (1) Ps. 53,293,310 Ps. 64,132,418 Less: current portion of Government Bonds, net of expected credit losses 28,531,855 28,637,314 Total long-term of Government bonds Ps. 24,761,455 Ps. 35,495,104 (1) As of June 30, 2024 and December 31, 2023, includes an expected credit loss of Ps. 4,649, 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, 2024, interest income generated by the Government Bonds amounted to Ps.2,736,903, of which Petróleos Mexicanos received payments in the amount of Ps.2,764,716. 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. As of June 30, 2024 and December 31, 2023, the Government Bonds consist of 9 and 12 series of development bonds (D Bonds and M Bonds) issued by the Secretaría de Hacienda y Crédito Público (“Ministry of Finance and Public Credit” or “SHCP”) with maturities between 2024 and 2026, at nominal values of Ps.53,143,153 and Ps.63,875,778, respectively. As of June 30, 2024 and December 31, 2023, the fair value of the transferred assets was Ps.52,166,173 and Ps.62,731,992, respectively and the fair value of the associated liabilities was Ps.51,738,210 and Ps.49,317,793 respectively, resulting in a net position of Ps.427,963 and Ps.13,414,199, respectively. As of June 30, 2024 and December 31, 2023, the recorded liability was Ps.51,443,540 (Ps.51,217,925 of principal and Ps. 225,615 of interest) and Ps.59,364,989 (Ps.58,741,483 of principal and Ps.623,506 of interest), respectively. The roll-forward of the Government Bonds is as follows: As of June 30, 2024 2023 Balance as of the beginning of the year Ps. 64,132,418 Ps. 110,179,517 Government Bonds collected (1) (10,732,626) (27,901,421) Accrued interests 2,736,903 3,985,217 Interests received from bonds (2,764,716) (4,547,770) Impact of the valuation of bonds in UDIs — 109,585 Amortized cost (79,616) 270,498 Reversal of impairment of bonds 947 2,546 Balance at the end of the period Ps. 53,293,310 Ps. 82,098,172 (1) As of June 30, 2024 three series of Government Bonds were collected in February, April and June. B. Other assets As of June 30, 2024 and December 31, 2023, the balance of other assets was as follows: June 30, 2024 December 31, 2023 Payments in advance (1) Ps. 5,386,010 Ps. 5,907,464 Other 4,562,262 3,353,985 Insurance 1,236,431 1,352,643 Total other assets Ps. 11,184,703 Ps. 10,614,092 (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, 2024 | |
Disclosure of long term debt [abstract] | |
Debt | DEBT The Federal Revenue Law applicable to PEMEX as of January 1, 2024, published in the Official Gazette of the Federation on November 13, 2023, authorized Petróleos Mexicanos and its Subsidiary Entities to incur an internal net debt up to Ps. 138,119,100 and an external net debt up to U.S.$3,726,500. PEMEX can incur additional domestic 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, 2024, PEMEX participated in the following financing activities: • On February 23, 2024, 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 350 basis points, maturing in August 2024. • On February 28, 2024, 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 350 basis points, maturing in August 2024. • On March 4, 2024, Petróleos Mexicanos withdrew Ps.1,000,000, from a credit facility bearing interest at a floating rate linked to 28-day TIIE plus a margin of 260 basis points, maturing in August 2024. • On April 12, 2024, Petróleos Mexicanos entered into a Ps.5,000,000, credit facility bearing interest at a floating rate linked to 91-day TIIE plus a margin of 400 basis points, maturing in April 2025. As of June 30, 2024 the available amount was Ps.2,500,000. • On April 18, 2024, Petróleos Mexicanos issued U.S.$500,000 of its Senior Guaranteed Floating Rate Notes due 2025 bearing interest at a floating rate linked to 90-day SOFR plus a margin of 300 basis points and guaranteed by Pemex Exploration and Production, Pemex Industrial Transformation and Pemex Logistics. • On April 26, 2024, Petróleos Mexicanos issued a promissory note for the principal amount of Ps.850,000, bearing interest at a floating rate linked to 28-day TIIE plus a margin of 400 basis points, maturing in April 2025. • On April 29, 2024, Petróleos Mexicanos withdrew Ps.3,000,000, from a credit facility bearing interest at a floating rate linked to 28-day TIIE plus a margin of 260 basis points, maturing in November 2024. • On April 29, 2024, 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 a margin of 160 basis points, maturing in July 2024. • On May 24, 2024, Petróleos Mexicanos entered into an amended revolving credit facility of Ps.19,000,000, to a credit facility bearing interest at a floating rate linked to 28-days TIIE plus a margin of 350 basis points, maturing in May 2028. • On June 3, 2024, Petróleos Mexicanos issued a promissory note for the principal amount of Ps.2,150,000, bearing interest at a floating rate linked to 28-day TIIE plus a margin of 315 basis points, maturing in November 2024. • On June 12, 2024, Petróleos Mexicanos entered into a Ps.5,000,000, credit facility bearing interest at a floating rate linked to 91-day TIIE plus a margin of 400 basis points, maturing in June 2025. As of June 30, 2024 the available amount was Ps.500,000. • On June 18, 2024, Petróleos Mexicanos withdrew Ps.1,700,000, from a credit facility bearing interest at a floating rate linked to 28-day TIIE plus a margin of 310 basis points, maturing in January 2025. • On June 25, 2024, Petróleos Mexicanos issued a credit facility of Ps.23,400,000, from a credit facility bearing interest at a floating rate linked to 28-day TIIE plus a margin of 270 basis points, maturing in July 2026. 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 June 30, 2024, PEMEX had U.S.$5,902,000 and Ps.20,500,000 in credit lines in order to provide liquidity, both of which are fully drawn. As of December 31, 2023, the outstanding amount under PMI Trading's revolving credit line was U.S.$661,213. From January 1 to June 30, 2024, PMI Trading obtained U.S.$505,121 from its revolving credit line and repaid U.S.$983,776. As of June 30, 2024, the outstanding amount under this revolving credit line was U.S.$182,558 and the available amount was U.S.$42,442. As of June 30, 2024 and 2023, PEMEX used the following exchange rates to translate the outstanding balances in foreign currencies to pesos in the statement of financial position: As of June 30, 2024 2023 U.S. dollar 18.3773 17.0720 Japanese yen 0.1143 0.1183 Pounds sterling 23.2399 21.5977 Euro 19.6747 18.6443 Swiss francs 20.4578 19.0535 The following table presents the roll-forward of total debt of PEMEX for each of the six-month periods ended June 30, 2024 and 2023, which includes short and long-term debt: As of June 30, 2024 (1) 2023 (1) Changes in total debt: At the beginning of the year Ps. 1,794,470,357 Ps. 2,091,463,996 Loans obtained - financing institutions 536,422,333 431,659,853 Debt payments (620,190,507) (436,838,825) Accrued interest (2)(3) 74,313,214 75,414,835 Interest paid (70,733,122) (75,009,928) Foreign exchange 112,266,352 (200,072,975) At the end of the period Ps. 1,826,548,627 Ps. 1,886,616,956 (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 2024, includes Ps.13,766 in premiums and awards amortizations, Ps.(310,228) in fees and expenses related to the issuance of debt and Ps.1,236,004 in amortized cost. (3) During 2023, includes Ps.164,064 in premiums and awards amortizations, Ps.(984,320) in fees and expenses related to the issuance of debt and Ps.1,310,414 in amortized cost. |
Provisions for Sundry Creditors
Provisions for Sundry Creditors | 6 Months Ended |
Jun. 30, 2024 | |
Disclosure of other provisions [abstract] | |
Provisions For Sundry Creditors | PROVISIONS FOR SUNDRY CREDITORS As of June 30, 2024 and December 31, 2023, the provisions for sundry creditors and others is as follows: June 30, 2024 December 31, 2023 Provision for plugging of wells (Note 13) Ps. 69,121,263 Ps. 61,117,106 Provision for trails in process (Note 19) 15,580,473 12,436,092 Provision for environmental costs 8,112,479 9,757,356 Total Ps. 92,814,215 Ps. 83,310,554 |
Equity (Deficit)
Equity (Deficit) | 6 Months Ended |
Jun. 30, 2024 | |
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, 2024, Petróleos Mexicanos received Ps.145,000,000 in Certificates of Contribution “A” from the Mexican Government. During 2023, Petróleos Mexicanos received Ps.166,615,123 in Certificates of Contribution “A” from the Mexican Government, which were designated for the construction of the Olmeca Refinery in Dos Bocas, Paraíso, Tabasco, the strengthening of its financial position, the strengthening of its fertilizers chain and 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, 2022 Ps. 1,029,592,293 Increase in Certificates of Contribution “A” during 2023 166,615,123 Certificates of Contribution “A” as of December 31, 2023 Ps. 1,196,207,416 Increase in Certificates of Contribution “A” during 2024 145,000,000 Certificates of Contribution “A” as of June 30, 2024 Ps. 1,341,207,416 Mexican Government contributions made in the form of Certificates of Contribution “A” during the six-month period ended June 30, 2024 totaled Ps.145,000,000 and were designated for the strengthening of Petróleos Mexicanos’ financial position as follows: Date Strengthening of financial position January 12 Ps. 22,479,358 February 12 32,391,756 March 7 13,997,554 March 26 5,857,845 March 26 2,510,505 April 8 5,632,399 May 9 21,321,366 May 9 8,980,400 May 21 27,634,576 June 11 4,194,241 Total Ps. 145,000,000 B. Mexican Government contributions As of June 30, 2024 and December 31, 2023, there were no Mexican Government contributions apart from Certificates of Contribution “A”. 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, 2024 and December 31, 2023, there were no changes to the legal reserve. D. Accumulated other comprehensive result For the six-month period ended June 30, 2024, PEMEX recognized net actuarial gains of Ps.131,130,474 in other comprehensive results, net of deferred income tax of Ps. 1,990,776 related to retirement and post-employment benefits. The gains resulted from an increase in discount and plan asset return rates, rising from 9.42% on December 31, 2023 to 10.41% on June 30, 2024. 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 in the six-month period ended June 30, 2023. E. Accumulated deficit from prior years PEMEX has recorded losses 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, 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 been negative. In 2022, 2023 and 2024, certain ratings agencies downgraded PEMEX’s credit rating, mainly driven by concerns around its operating performance, liquidity and the Mexican Government’s ability and willingness to provide PEMEX 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 2024. These conditions have negatively impacted PEMEX´s financial performance and also its liquidity position. As of June 30, 2024 and 2023, PEMEX recognized a net (loss) income of Ps.(268,647,357) and Ps.82,159,155, respectively. In addition, as of June 30, 2024 and December 31, 2023, PEMEX had a negative equity of Ps.1,605,749,447, and Ps.1,652,978,810, respectively, mainly due to continuous net losses in prior years, and a negative working capital of Ps.547,017,937 and Ps.585,176,915, as of June 30, 2024 and December 31, 2023, 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 2024 authorized PEMEX to have a financial balance budget of Ps.145,000,000, conduct financing activities that do not represent a net debt in terms of public debt greater than Ps.203,705,500 and conduct other financing activities that do not represent net public debt. This financial balance does not consider the payment of principal during 2024, which PEMEX expects to cover with equity contributions from the Mexican Government. PEMEX has short-term debt principal maturities (including interest payable) of Ps.396,301,477 as of June 30, 2024. 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, was in effect for 2023 and remains in effect through 2024. This decree allows PEMEX to substantially recover from the Mexican Government the difference between the international reference price of gasoline and diesel and the price at which they trade in the domestic market, accounting for inflation. In October 2023, the Mexican Government adjusted PEMEX’s tax regime and set its Profit-sharing Duty at 30.0% for 2024, a reduction of 10.0% points from the applicable rate in 2023 of 40.0%. On February 13, 2024, the Mexican Government issued a decree in the Official Gazette of the Federation suspending the collection of PEMEX’s Profit-sharing Duty and Hydrocarbons Extraction Duty for the months of October, November and December 2023 and January 2024. The suspension granted PEMEX a reduction in its tax burden of Ps.91,348,348 for the corresponding period in 2023 and Ps.20,646,242 in January 2024. The Mexican Government's Federal Budget for 2024 includes Ps.145,000,000 for PEMEX during 2024 to help improve its financial position. In addition, PEMEX has plans to raise funds from the markets in accordance with prevailing conditions and to refinance its debt. Further, PEMEX has the capacity to refinance its short-term debt maturities through direct loans and revolving credit facilities. PEMEX's ability to refinance its short-term debt depends on factors beyond its control. The Revenue Law for 2024 also authorized PEMEX to incur a net additional indebtedness up to Ps.203,705,500 (Ps.138,119,100 and U.S.$3,726,500), which is considered as public debt by the Mexican Government and may be used to partially cover its financial balance in 2024. 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 but decreased 20.00% in 2023. If international values for the Mexican oil price were higher than the average price of U.S.$56.7 per barrel, which was the reference price used to prepare our financial balance for 2024, this additional revenue would enable PEMEX to achieve its business plan objectives more quickly. Accordingly and taking into consideration price levels observed during the six-month period ended June 30, 2024, PEMEX amended its budget to reflect an average price of crude oil of U.S.$71.3 per barrel. 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 condensed consolidated interim financial statements as of June 30, 2024 and December 31, 2023 on a going concern basis. There are certain conditions that have generated material 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 condensed consolidated interim statements of changes in equity (deficit) as “non-controlling interest.” As of June 30, 2024 and December 31, 2023, non-controlling interest represented (losses) of Ps.(139,679) and Ps.(116,639), respectively, in PEMEX’s equity (deficit). |
Contingencies
Contingencies | 6 Months Ended |
Jun. 30, 2024 | |
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 condensed consolidated interim financial statements. As of June 30, 2024 and December 31, 2023, PEMEX had accrued a reserve of Ps.15,580,473 and Ps.12,436,092, respectively, for these contingent liabilities. As of June 30, 2024, 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. On April 18, 2024, a resolution was issued by the Third Administrative Joint Court of the First Circuit modifying the appealed judgment and granting the Amparo to EMS Energy Services de México, S. de R.L. de C.V. 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. A third accounting expert was appointed, who did not ratify his position; therefore, a resolution dated October 2, 2023 was issued requesting the Expert Unit to appoint another expert. On February 2, 2024, the independent accounting expert accepted his assignment and was granted 15 days to render his report. On March 19, 2024, the Superior Court decided to exercise its power of attraction. On May 2, 2024, the Superior Court issued a resolution requesting the Expert Unit to appoint another expert, since the previously appointed expert did not ratify the report. 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.$240,448. 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 3, 2022, it was agreed that the plaintiff would make various statements in relation to the defense of the claim. 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. On September 19, 2023, the Northern Gulf Regional Court sent the file to the First Section of the Superior Court for a final resolution. On November 14, 2023, the First Section of the Superior Court published a resolution requiring the Northern Gulf Regional Court to send all the documents that integrate the evidentiary file offered in the trial. On December 12, 2023, an extract of a clarification agreement concerning the referral of evidence to the First Section of the Superior Court was notified in the jurisdictional gazette. On June 14, 2024, the First Section of the Superior Court issued a resolution (574/22-18-01-8/1549/23-PL-09-04) designating the delegates by Micro Smart Systems de México S. de R.L. de C.V. As of the date of these condensed consolidated interim financial statements, the final resolution of this process is pending. • Odebrecht Ingeniería y Construcción Internacional de México, S.A. de C.V. (Odebrecht), filed an oral commercial proceeding (314/2021IV) against Pemex Industrial Transformation before the Juzgado Tercero de Distrito en Materia de Extinción de Dominio y Especiales en Juicios Orales (Third District Court in Matters of Extinction of Ownership and Special Oral Commercial Lawsuits), claiming benefits related to the contract DCPA-OP-GCP-DGTRI-A-3-15, for the amount of Ps.1,838,753 for unpaid work performed, as well as damages. On December 6, 2021, Pemex Industrial Transformation filed a response to this claim, and a preliminary hearing date was set for May 6, 2022. As a result of the unfavorable resolution of July 7, 2022, which ordered the payment of estimates, both Pemex Industrial Transformation and Odebrecht filed a direct amparo against that resolution, where the Décimo Tercer Tribunal Colegiado en Materia Civil (Thirteenth Civil Collegiate Court), granted the injunction and protection of the resolution of July 7, 2022 to Pemex Industrial Transformation denied the adhesive amparo filed by Odebrecht and dismissed the direct amparo filed by Odebrecht. In compliance with the execution of the direct amparos (533/2022 and 538/2022), filed by Pemex Industrial Transformation and Odebrecht, the Third District Court on Extinction of Ownership and Special Oral Commercial Lawsuits in Mexico City issued the final resolution on November 13, 2023, in the Commercial Oral Proceeding 314/2021-IV. Against such resolution, Pemex Industrial Transformation and Odebrecht filed a direct amparo ( juicio de amparo directo ), which to date is only filed by Pemex Industrial Transformation, before the Thirteenth Collegiate Court in Civil Matters, under file number 908/2023. Odebrecht filed a complaint appeal against the dismissal of Amparo 16/2024 and also challenged the presiding judge of the Décimo Tercer Tribunal Colegiado en Materia Civil (Thirteenth Civil Collegiate Court). In parallel, Odebrecht filed an appeal before the Supreme Court of Justice of the Nation regarding the legal criteria applied in the order that dismissed its amparo lawsuit. Both proceedings are pending. As for the amparo filed by Pemex Industrial Transformation, its processing is suspended until the appeal is resolved. As of the date of these condensed consolidated interim financial statements, the final resolution of this process is 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. • On September 22, 2023, Pemex Industrial Transformation filed a repeal request against a tax credit for the 2017 fiscal year related to the Special Tax on Production and Services and Value Added Tax, updates, fines and surcharges for the months of January to December 2017 for an amount of Ps.8,349,608, 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. |
Subsequent Events
Subsequent Events | 6 Months Ended |
Jun. 30, 2024 | |
Disclosure of non-adjusting events after reporting period [abstract] | |
Subsequent Events | SUBSEQUENT EVENTS A. Recent financing activities During the period from July 1 to September 20, 2024 , PEMEX participated in the following financing activities: • On July 2, 2024, Petróleos Mexicanos issued a promissory note for the principal amount of Ps.6,500,000, from a credit facility bearing interest at a floating rate linked to 28-day TIIE plus a margin of 85 basis points, maturing in September 2024. • On July 2, 2024, Petróleos Petróleos Mexicanos entered into a U.S.$.2,500,000, credit facility bearing interest at a floating rate linked to 30-day SOFR plus a margin of 215 basis points, maturing in July 2026, of which as of September 20, 2024 is fully drawn. • On July 10, 2024, Petróleos Mexicanos issued a promissory note for the principal amount of U.S.$341,667, from a credit facility bearing interest at a floating rate linked to 30-day SOFR plus a margin of 425 basis points, maturing in March 2025. • On July 17, 2024, Petróleos Mexicanos entered into a U.S.$750,000 amended revolving credit facility bearing interest at a floating rate linked to 90-day SOFR plus a margin of 454 basis points, maturing in January 2026. • On July 26, 2024, Petróleos Mexicanos issued a promissory note for the principal amount of Ps.4,000,000, from a credit facility bearing interest at a floating rate linked to 28-day TIIE plus a margin of 5 basis points, maturing in September 2024. • On August 16, 2024, Petróleos Mexicanos issued a promissory note for the principal amount of Ps.5,000,000, from a credit facility bearing interest at a floating rate linked to 28-day TIIE plus a margin of 365 basis points, maturing in November 2024. • On August 21, 2024, Petróleos Mexicanos issued a promissory note for the principal amount of Ps.3,000,000, from a credit facility bearing interest at a floating rate linked to 28-day TIIE plus a margin of 365 basis points, maturing in November 2024. • On August 26, 2024, Petróleos Mexicanos issued a promissory note for the principal amount of Ps.2,000,000, from a credit facility bearing interest at a floating rate linked to 28-day TIIE plus a margin of 365 basis points, maturing in December 2024. • On August 26, 2024, Petróleos Mexicanos issued a promissory note for the principal amount of Ps.2,000,000, from a credit facility bearing interest at a floating rate linked to 28-day TIIE plus a margin of 365 basis points, maturing in December 2024. • On August 30, 2024, Petróleos Mexicanos entered into a Ps.1,000,000 a credit facility bearing interest at a floating rate linked to 28-day TIIE plus a margin of 310 basis points, maturing in February 2025. • On September 13, 2024, Petróleos Mexicanos issued a promissory note for the principal amount of Ps.2,000,000, from a credit facility bearing interest at a floating rate linked to 28-day TIIE plus a margin of 365 basis points, maturing in January 2025. • On September 13, 2024, Petróleos Mexicanos issued a promissory note for the principal amount of Ps.2,000,000, from a credit facility bearing interest at a floating rate linked to 28-day TIIE plus a margin of 365 basis points, maturing in January 2025. • On September 19, 2024, Petróleos Mexicanos entered into a Ps.5,000,000 credit facility bearing interest at a floating rate linked to 28-day TIIE plus a margin of 400 basis points, maturing in September 2025, which as of September 20, 2024 the available amount is Ps.1,200,000. As of June 30, 2024, the outstanding amount under the PMI Trading revolving credit line was U.S.$182,558. From July 1 to September 20, 2024, PMI Trading obtained U.S.$270,273 from its revolving credit line and repaid U.S.$247,387. As of September 20, 2024, the outstanding amount under this revolving credit lines was U.S.$205,444. The available amount under this revolving credit lines was U.S.$19,556 as of September 20, 2024. As of September 20, 2024, PEMEX had U.S.$5,902,000 and Ps. 20,500,000 in available credit lines in order to provide liquidity, of which U.S.$80,000 are available and the credit lines in pesos is fully drawn. B. Exchange rates and crude oil prices As of September 25, 2024, the Mexican peso-U.S. dollar exchange rate was Ps.19.415 per U.S. dollar, which represents a 5.6% depreciation of the value of the peso in U.S. dollar terms as compared to the exchange rate as of June 30, 2024, which was Ps.18.3773 per U.S. dollar. This increase in U.S. dollar exchange rate, has led to an estimate loss of Ps.83,191,617 in PEMEX’s foreign exchange gains as of September 25, 2024. As of September 25, 2024, the weighted average price of the crude oil exported by PEMEX was U.S.$65.72 per barrel. This represents a price decrease of approximately 14.3% as compared to the average price as of June 30, 2024, which was U.S.$76.70 per barrel. C. Mexican Government Contribution On August 8, 2024, Petróleos Mexicanos received Ps.5,509,050 in Certificates of Contribution “A” from the Mexican Government through the Ministry of Energy, for the “Proyecto Aprovechamiento de Residuales” in the Salina Cruz Refinery, Oaxaca. D. Tax Decree for the Profit-Sharing Duty and Hydrocarbon Extraction Duty On August 23, 2024, the Mexican Government issued a decree in the Official Gazette of the Federation suspending the collection of PEMEX’s Profit-Sharing Duty for the months of May, June and July of 2024, which will be reflected in August 2024 as a total decrease in duties by Ps.47,647,368. The decree also suspended the collection of PEMEX’s Hydrocarbon Extraction Duty for the months of June and July of 2024, which will be reflected in August 2024, as a total decrease in duties by Ps.10,987,688. |
Subsidiary Guarantor Informatio
Subsidiary Guarantor Information | 6 Months Ended |
Jun. 30, 2024 | |
Supplemental Information [abstract] | |
Subsidiary Guarantor Information | SUBSIDIARY GUARANTOR INFORMATION The following unaudited consolidating information presents: (i) condensed consolidated statements of financial position at June 30, 2024 and December 31, 2023 and (ii) condensed consolidated statements of comprehensive income (loss) and cash flows for the six-month periods ended June 30, 2024 and 2023, 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, 2024, 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 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, 2024, 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 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 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 1,980,570 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 4,009,043 5.950% Notes due 2031 Petróleos Mexicanos Pemex Exploration and Production, Pemex Industrial Transformation and Pemex Logistics 3,777,381 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 Security Primary Guarantors Principal amount 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 6,787,190 10.000% Notes due 2033 Petróleos Mexicanos Pemex Exploration and Production, Pemex Industrial Transformation and Pemex Logistics 1,972,663 Petróleos Mexicanos is the only PEMEX entity that had debt securities registered with the Securities and Exchange Commission (“SEC”) outstanding as of June 30, 2024 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, 2024 Petróleos Subsidiary Non-guarantor Eliminations PEMEX Assets Current assets Cash and cash equivalents Ps. 14,751,338 Ps. 10,716,940 Ps. 41,267,253 Ps. — Ps. 66,735,531 Trade and other accounts receivable, derivative financial instruments and other current assets 39,633,319 140,453,867 115,202,685 — 295,289,871 Accounts receivable—inter-company 2,137,700,397 1,224,287,867 253,034,414 (3,615,022,678) — Inventories 1,910,970 58,343,396 43,303,839 — 103,558,205 Total current assets 2,193,996,024 1,433,802,070 452,808,191 (3,615,022,678) 465,583,607 Long-term receivables—intercompany 1,329,255,786 — 841,312 (1,330,097,098) — Investments in joint ventures and associates (1,321,194,198) 344,308,140 261,674,954 717,264,815 2,053,711 Wells, pipelines, properties, plant and equipment-net 7,063,341 1,161,640,439 368,448,074 — 1,537,151,854 Long-term notes receivables — 820,812 174,457 — 995,269 Right of use 753,386 39,896,092 3,566,399 — 44,215,877 Deferred taxes 50,248,401 102,541,322 7,249,285 — 160,039,008 Intangible assets 159,317 20,911,948 1,154,714 — 22,225,979 Mexican Government Bonds 24,761,455 — — — 24,761,455 Other assets — 2,387,817 8,796,886 — 11,184,703 Total assets Ps. 2,285,043,512 Ps. 3,106,308,640 Ps. 1,104,714,272 Ps. (4,227,854,961) Ps. 2,268,211,463 Liabilities Current liabilities Current portion of long-term debt Ps. 324,150,510 Ps. 19,973,799 Ps. 52,177,168 Ps. — Ps. 396,301,477 Accounts payable—inter-company 1,819,564,500 1,637,783,717 157,601,891 (3,614,950,108) — Other current liabilities 65,026,042 462,313,258 88,960,767 — 616,300,067 Total current liabilities 2,208,741,052 2,120,070,774 298,739,826 (3,614,950,108) 1,012,601,544 Long-term debt 1,370,591,752 18,170,384 41,485,014 — 1,430,247,150 Long-term payables—inter-company — 1,329,255,786 913,881 (1,330,169,667) — Employee benefits, provisions for sundry creditors, other liabilities and deferred taxes 311,320,480 1,098,675,190 21,116,546 — 1,431,112,216 Total liabilities 3,890,653,284 4,566,172,134 362,255,267 (4,945,119,775) 3,873,960,910 Equity (deficit), net (1,605,609,772) (1,459,863,494) 742,459,005 717,264,814 (1,605,749,447) Total liabilities and equity Ps. 2,285,043,512 Ps. 3,106,308,640 Ps. 1,104,714,272 Ps. (4,227,854,961) Ps. 2,268,211,463 SUPPLEMENTAL CONDENSED CONSOLIDATING FINANCIAL INFORMATION STATEMENT OF FINANCIAL POSITION As of December 31, 2023 Petróleos Subsidiary Non-guarantor Eliminations PEMEX Assets Current assets Cash and cash equivalents Ps. 21,332,062 Ps. 8,121,798 Ps. 39,293,516 Ps. — Ps. 68,747,376 Trade and other accounts receivable, derivative financial instruments and other current assets 44,210,424 223,619,697 89,927,257 — 357,757,378 Accounts receivable—inter-company 1,779,552,352 1,084,854,020 209,158,202 (3,073,564,574) — Inventories 1,657,768 68,635,820 41,742,404 — 112,035,992 Total current assets 1,846,752,606 1,385,231,335 380,121,379 (3,073,564,574) 538,540,746 Long-term receivables—intercompany 1,255,133,079 — 947,917 (1,256,080,996) — Investments in joint ventures and associates (1,193,893,056) 273,172,532 232,597,274 689,978,053 1,854,803 Wells, pipelines, properties, plant and equipment-net 6,883,032 1,152,610,684 322,828,450 — 1,482,322,166 Long-term notes receivables — 998,352 181,354 — 1,179,706 Right of use 1,054,650 38,529,258 3,619,272 — 43,203,180 Deferred taxes 53,872,835 108,283,638 7,758,247 — 169,914,720 Intangible assets 30,385 19,267,774 1,052,660 — 20,350,819 Mexican Government Bonds 35,495,104 — — 35,495,104 Other assets — 2,223,837 8,390,255 — 10,614,092 Total assets Ps. 2,005,328,635 Ps. 2,980,317,410 Ps. 957,496,808 Ps. (3,639,667,517) Ps. 2,303,475,336 Liabilities Current liabilities Current portion of long-term debt Ps. 407,016,329 Ps. 17,773,661 Ps. 52,431,604 Ps. — Ps. 477,221,594 Accounts payable—inter-company 1,611,866,944 1,353,441,870 108,185,471 (3,073,494,285) — Other current liabilities 49,017,649 491,387,451 106,090,967 — 646,496,067 Total current liabilities 2,067,900,922 1,862,602,982 266,708,042 (3,073,494,285) 1,123,717,661 Long-term debt 1,255,500,049 17,755,058 43,993,656 — 1,317,248,763 Long-term payables—inter-company — 1,255,133,079 1,018,205 (1,256,151,284) — Employee benefits, provisions for sundry creditors, other liabilities and deferred taxes 334,789,836 1,162,988,573 17,709,313 — 1,515,487,722 Total liabilities 3,658,190,807 4,298,479,692 329,429,216 (4,329,645,569) 3,956,454,146 Equity (deficit), net (1,652,862,172) (1,318,162,282) 628,067,592 689,978,052 (1,652,978,810) Total liabilities and equity Ps. 2,005,328,635 Ps. 2,980,317,410 Ps. 957,496,808 Ps. (3,639,667,517) Ps. 2,303,475,336 SUPPLEMENTAL CONDENSED CONSOLIDATING FINANCIAL INFORMATION STATEMENT OF COMPREHENSIVE INCOME For the six-month period ended June 30, 2024 Petróleos Subsidiary Non-guarantor Eliminations PEMEX Net revenues Ps. — Ps. 922,654,418 Ps. 599,358,534 Ps. (707,948,644) Ps. 814,064,308 Services income 20,681,143 49,294,906 13,064,472 (81,678,384) 1,362,137 Total revenues 20,681,143 971,949,324 612,423,006 (789,627,028) 815,426,445 (Impairment) of wells, pipelines, properties, plant and equipment — (17,548,991) — — (17,548,991) Cost of sales 550,181 858,074,658 596,831,047 (769,704,563) 685,751,323 Gross income 20,130,962 96,325,675 15,591,959 (19,922,465) 112,126,131 Total general expenses 40,794,643 65,349,242 5,901,087 (19,835,896) 92,209,076 Other revenues (expenses), net 81,479 3,706,307 1,255,082 85,701 5,128,569 Operating income (20,582,202) 34,682,740 10,945,954 (868) 25,045,624 Financing cost, net 429,937 (73,633,870) (3,486,285) 870 (76,689,348) Foreign exchange (loss) income, net 21,003,651 (145,304,741) (1,994,052) — (126,295,142) Profit (loss) sharing in joint ventures and associates (260,831,141) (373,953) 4,459,890 257,010,420 265,216 Income (loss) before duties, taxes and other (259,979,755) (184,629,824) 9,925,507 257,010,422 (177,673,650) Total taxes, duties and other 8,639,331 80,418,825 1,915,551 — 90,973,707 Net (loss)income for the period (268,619,086) (265,048,649) 8,009,956 257,010,422 (268,647,357) Total other comprehensive result 36,555,131 94,543,031 39,778,558 — 170,876,720 Total comprehensive (loss) income Ps. (232,063,955) Ps. (170,505,618) Ps. 47,788,514 Ps. 257,010,422 Ps. (97,770,637) 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 CASH FLOWS For the six-month period ended June 30, 2024 Petróleos Subsidiary Non-guarantor Eliminations PEMEX consolidated Operating activities: Net (loss) income Ps. (268,619,086) Ps. (265,048,649) Ps. 8,009,956 Ps. 257,010,422 Ps. (268,647,357) Total duties, taxes and other 8,639,331 80,418,824 1,915,552 — 90,973,707 Depreciation and amortization of wells, pipelines, properties, plant and equipment 284,137 71,593,632 2,380,860 — 74,258,629 Amortization of intangible assets 120,370 11,148 44,556 — 176,074 Impairment of wells, pipelines, properties, plant and equipment — 17,548,991 — — 17,548,991 Capitalized unsuccessful wells — 4,492,742 — — 4,492,742 Unsuccessful wells from intangible assets — 10,836,456 — — 10,836,456 Loss from derecognition of disposal of wells, pipelines, properties, plant and equipment 73,346 2,464,759 (230,005) — 2,308,100 Depreciation of rights of use 301,264 1,912,000 702,412 — 2,915,676 Discount rate of reserve for well abandonment — 2,369,541 — — 2,369,541 Loss (profit) sharing in joint ventures and associates 260,831,141 373,953 (4,459,890) (257,010,420) (265,216) Unrealized foreign exchange loss (income) 106,241,032 9,287,579 4,757,313 — 120,285,924 Financing cost 65,947,218 1,210,804 3,942,460 — 71,100,482 Financing income (4,648,274) (4,361,078) (1,185,099) — (10,194,451) Duties and taxes (3,645,278) (129,007,832) 731,190 — (131,921,920) Accounts receivable, inventories, accounts payable, DFIs and provisions 22,021,534 112,825,868 (13,876,836) — 120,970,566 Employee benefits 10,344,362 17,965,840 127,409 — 28,437,611 Inter-company charges and deductions (223,822,780) (182,138,998) (17,649,958) 423,611,736 — Cash flows from (used in) operating activities (25,931,683) (247,244,420) (14,790,080) 423,611,738 135,645,555 Investing activities: Acquisition of wells, pipelines, properties, plant and equipment and intangible assets (791,371) (104,251,526) (56,528,026) — (161,570,923) Other assets and other receivables 1,743,854 2,450,275 1,972,682 — 6,166,811 (Increase) decrease due to Inter-company investing (207,652,706) — 15,790,238 191,862,468 — Cash flows (used in) from investing activities (206,700,223) (101,801,251) (38,765,106) 191,862,468 (155,404,112) Financing activities: Increase in equity due to Certificates of Contribution “A” 145,000,000 — — — 145,000,000 Collection and interest collected from the Mexican Government 13,497,342 — — — 13,497,342 Lease payments of principal and interest (225,131) (3,320,652) (780,834) — (4,326,617) Loans obtained from financial institutions 206,392,226 18,079,220 311,950,887 — 536,422,333 Debt payments, principal only (276,498,585) (19,010,190) (324,681,732) — (620,190,507) Interest paid (69,812,226) (2,572,120) 1,651,224 — (70,733,122) Inter-company increase (decrease) financing 207,697,556 358,464,555 49,312,095 (615,474,206) — Net cash flows from (used in) financing activities: 226,051,182 351,640,813 37,451,640 (615,474,206) (330,571) Net (decrease) increase in cash and cash equivalents (6,580,724) 2,595,142 (16,103,546) — (20,089,128) Effects of foreign exchange on cash balances — — 18,077,283 — 18,077,283 Cash and cash equivalents at the beginning of the year 21,332,062 8,121,798 39,293,516 — 68,747,376 Cash and cash equivalents at the end of the period Ps. 14,751,338 Ps. 10,716,940 Ps. 41,267,253 Ps. — Ps. 66,735,531 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 Total duties, taxes and other (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) Financing cost 65,163,379 6,312,376 3,305,062 — 74,780,817 Financing 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 (decrease) increase 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 period Ps. 13,449,953 Ps. 13,035,929 Ps. 37,629,318 Ps. — Ps. 64,115,200 |
Authorization and Basis of Pr_2
Authorization and Basis of Preparation (Policies) | 6 Months Ended |
Jun. 30, 2024 | |
Disclosure of voluntary change in accounting policy [abstract] | |
Basis of preparation | Basis of preparation A. Statement of compliance PEMEX prepared its condensed consolidated interim financial statements as of June 30, 2024 and December 31, 2023, and for the three- and six-month periods ended June 30, 2024 and 2023, in accordance with IAS 34, “Interim Financial Reporting” (“IAS 34”) of the International Financial Reporting Standards (“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, 2023. 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, 2023. 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) |
Going concern | C. Going concern |
Functional and reporting currency | 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 33% and 35% of PEMEX’s total liabilities as of June 30, 2024 and December 31, 2023, 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 |
Use of judgements and estimates | 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, 2023. 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. |
Segment Financial Information (
Segment Financial Information (Tables) | 6 Months Ended |
Jun. 30, 2024 | |
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, 2024 Exploration Industrial Logistics DPRLP Trading Corporate Other Intersegment Total Revenues: Trade Ps. 167,641,188 321,320,541 — 75,731,508 237,448,242 — 11,922,829 — Ps. 814,064,308 Intersegment 259,533,761 175,962,347 47,053,985 10,587,880 251,549,157 20,680,704 24,259,194 (789,627,028) — Services income 13,198 176,669 247,635 189 909,804 439 14,203 — 1,362,137 (Impairment) of wells, pipelines, properties, plant and equipment, net 19,014,931 (36,392,092) (171,830) — — — — — (17,548,991) Cost of sales 255,656,439 563,805,165 38,613,054 84,944,760 481,817,572 550,181 30,068,714 (769,704,562) 685,751,323 Gross income 190,546,639 (102,737,700) 8,516,736 1,374,817 8,089,631 20,130,962 6,127,512 (19,922,466) 112,126,131 Distribution, transportation and sale expenses 331,001 10,200,978 156,381 — 70,287 90,646 32,711 (3,149,384) 7,732,620 Administrative expenses 19,893,862 27,138,630 7,628,389 793,223 1,687,434 40,703,996 3,317,432 (16,686,510) 84,476,456 Other revenues 3,436,975 3,174,426 428,958 7,892 267,312 154,826 1,110,728 — 8,581,117 Other expenses 2,227,199 1,006,202 100,651 39 16,441 73,347 114,370 (85,701) 3,452,548 Operating income 171,531,552 (137,909,084) 1,060,273 589,447 6,582,781 (20,582,201) 3,773,727 (871) 25,045,624 Financing income 37,075,735 541,629 10,009,689 544,536 594,955 114,406,269 1,012,875 (153,991,237) 10,194,451 Financing cost 92,949,387 17,540,997 188,074 94,061 3,575,805 109,327,911 1,416,355 (153,992,108) 71,100,482 Derivative financial instruments (cost) income, net (10,739,208) 156,741 — 92,182 (644,612) (4,648,420) — — (15,783,317) Foreign exchange (loss) income — net (20,632,464) (124,477,013) (195,264) — (458,402) 21,003,651 (1,535,650) — (126,295,142) Profit sharing in associates 106,495 (481,453) 1,005 — 2,011,406 (260,831,141) 2,448,484 257,010,420 265,216 Total duties, taxes and other 77,700,631 — 2,718,193 48,019 1,528,638 8,639,331 338,895 — 90,973,707 Net (loss) income Ps. 6,692,092 (279,710,177) 7,969,436 1,084,085 2,981,685 (268,619,084) 3,944,186 257,010,420 Ps. (268,647,357) Total current assets 937,920,629 228,855,334 282,912,229 40,254,106 284,493,604 2,214,708,552 129,956,074 (3,653,516,921) 465,583,607 Total non-current assets 945,415,557 572,388,371 154,702,640 31,563,567 110,643,895 91,047,489 509,698,621 (612,832,284) 1,802,627,856 Total current liabilities 595,337,603 1,457,901,728 82,717,564 16,026,689 225,132,362 2,229,453,577 59,476,372 (3,653,444,351) 1,012,601,544 Total long-term liabilities 1,781,018,827 588,622,256 76,460,278 2,937,786 1,355,663 1,681,912,232 59,221,993 (1,330,169,669) 2,861,359,366 Total equity (deficit) (493,020,244) (1,245,280,279) 278,437,027 52,853,198 168,649,474 (1,605,609,768) 520,956,330 717,264,815 (1,605,749,447) Depreciation and amortization of wells, pipelines, properties, plant and equipment 63,013,017 5,382,944 3,197,671 1,086,616 136,235 284,137 1,158,009 — 74,258,629 Depreciation of rights of use 160,421 1,566,853 184,726 278,446 349,543 301,264 74,423 — 2,915,676 Net periodic cost of employee benefits 19,412,723 27,750,107 4,532,084 — 1,575 17,267,857 31,314 — 68,995,660 Interest income (1) 101,686 345,114 9,686 168,334 232,728 4,546,423 784,037 — 6,188,008 Interest cost (2) (2,909,555) 1,545,832 188,052 94,061 2,777,427 64,999,656 1,070,365 — 67,765,838 (1) Included in financing income. (2) Included in financing cost. For the three-month period ended June 30, 2024 Exploration Industrial Logistics DPRLP Trading Corporate Other Intersegment Total Revenues: Trade Ps. 80,381,858 162,876,687 — 36,443,936 125,830,318 — 3,312,152 — Ps. 408,844,951 Intersegment 127,496,911 83,025,869 21,356,659 4,191,797 131,813,310 3,984,549 13,845,389 (385,714,484) — Services income 7,062 129,672 125,330 189 413,480 229 7,153 — 683,115 (Impairment) of wells, pipelines, properties, plant and equipment, net 26,544,569 (36,447,717) — — — — — — (9,903,148) Cost of sales 128,940,546 286,417,550 17,770,354 43,208,832 255,261,210 345,972 13,725,122 (382,103,636) 363,565,950 Gross income 105,489,854 (76,833,039) 3,711,635 (2,572,910) 2,795,898 3,638,806 3,439,572 (3,610,848) 36,058,968 Distribution, transportation and sale expenses 176,671 6,460,984 75,331 — 44,547 105,190 7,598 (1,633,383) 5,236,938 Administrative expenses 4,980,119 13,130,212 3,113,482 407,525 973,831 21,089,075 2,028,930 (1,971,427) 43,751,747 Other revenues 2,275,170 1,202,875 288,531 4,477 132,892 94,448 333,101 — 4,331,494 Other expenses 1,934,080 628,408 73,329 39 2,875 31 107,510 7,394 2,753,666 Operating (loss) income 100,674,154 (95,849,768) 738,024 (2,975,997) 1,907,537 (17,461,042) 1,628,635 (13,432) (11,351,889) Financing income 18,118,052 111,964 5,085,301 294,335 303,587 45,927,650 472,615 (66,658,342) 3,655,162 Financing cost 35,781,051 9,070,167 113,516 59,622 1,705,639 56,110,727 845,777 (66,671,774) 37,014,725 Derivative financial instruments (cost) income, net 3,101,430 134,318 — 50,114 (123,788) (13,226,530) — — (10,064,456) Foreign exchange (loss) income — net (40,337,478) (143,297,563) (232,514) — (469,194) 25,072,565 (419,055) — (159,683,239) Profit sharing in associates 118,177 141,501 1,000 — (3,405,399) (248,337,275) (7,991,634) 259,707,949 234,319 Total duties, taxes and other 45,955,816 — 2,048,151 14,297 1,585,992 9,179,826 320,653 — 59,104,735 Net (loss) income Ps. (62,532) (247,829,715) 3,430,144 (2,705,467) (5,078,888) (273,315,185) (7,475,869) 259,707,949 Ps. (273,329,563) Depreciation and amortization of wells, pipelines, properties, plant and equipment 36,032,330 2,462,100 1,546,745 546,688 68,092 141,106 580,871 — 41,377,932 Depreciation of rights of use 79,551 806,040 101,379 141,115 165,334 150,632 51,979 — 1,496,030 Net periodic cost of employee benefits 9,524,925 13,625,957 2,132,369 — (838) 8,498,722 15,399 — 33,796,534 Interest income (1) 60,432 103,461 5,881 80,210 123,309 1,669,357 357,094 — 2,399,744 Interest cost (2) (1,289,026) 803,101 113,494 59,622 1,281,389 34,001,347 645,160 — 35,615,087 (1) Included in financing income. (2) Included in financing cost. 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) 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 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 revenues 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 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 income (cost) income, 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 sharing in 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) Ps. 82,159,155 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. 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) 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 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 revenues 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 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 income (cost) income, 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 sharing in 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 (15,781,255) 5,104,033 1,842,837 3,696,635 25,439,157 7,590,448 (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 December 31, 2023 Exploration Industrial Logistics DPRLP Trading Companies Corporate Other Intersegment Total Total current assets Ps. 909,819,796 218,747,813 274,384,409 34,058,111 235,899,424 1,850,711,295 111,621,072 (3,096,701,174) Ps. 538,540,746 Total non-current assets 910,837,120 521,938,961 162,309,993 27,058,584 101,729,105 158,576,028 448,587,744 (566,102,945) 1,764,934,590 Total current liabilities 629,264,289 1,161,203,831 89,855,544 10,696,459 182,349,198 2,071,859,608 75,119,615 (3,096,630,883) 1,123,717,661 Total non-current liabilities 1,727,159,904 625,142,251 83,574,554 3,191,749 1,247,810 1,590,289,886 58,281,618 (1,256,151,287) 2,832,736,485 Equity (deficit), net (535,767,277) (1,045,659,308) 263,264,304 47,228,487 154,031,521 (1,652,862,171) 426,807,583 689,978,051 (1,652,978,810) |
Revenue (Tables)
Revenue (Tables) | 6 Months Ended |
Jun. 30, 2024 | |
Disclosure of disaggregation of revenue from contracts with customers [abstract] | |
Schedule of Revenue Disaggregation | A. Revenue disaggregation For the six-month periods ended June 30, Exploration and Production Industrial Transformation Logistics DPRLP Trading Corporate Other Operating Total Geographical market 2024 United States Ps. 96,756,643 — — 75,731,697 65,649,467 — 811,609 Ps. 238,949,416 Other 36,025,623 — — — 13,092,036 — 222,843 49,340,502 Europe 34,799,292 — — — 9,149,300 — — 43,948,592 Local 72,828 321,497,210 247,635 — 150,467,243 439 10,902,580 483,187,935 Total Ps. 167,654,386 321,497,210 247,635 75,731,697 238,358,046 439 11,937,032 Ps. 815,426,445 2023 United States Ps. 136,012,733 — — 81,871,944 68,962,617 — 869,253 Ps. 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 552,684 391,764,574 884,275 — 61,040,076 457 9,101,787 463,343,853 Total Ps. 210,221,874 391,764,574 884,275 81,871,944 137,841,155 457 10,011,560 Ps. 832,595,839 Major products and services 2024 Crude oil Ps. 167,581,559 — — — 5,465,724 — — Ps. 173,047,283 Gas 59,629 27,504,727 — — 8,865,441 — — 36,429,797 Refined petroleum products — 284,534,147 — 53,347,376 220,926,956 — — 558,808,479 Other — 9,281,667 — 22,384,132 2,190,121 — 11,922,829 45,778,749 Services 13,198 176,669 247,635 189 909,804 439 14,203 1,362,137 Total Ps. 167,654,386 321,497,210 247,635 75,731,697 238,358,046 439 11,937,032 Ps. 815,426,445 2023 Crude oil Ps. 210,131,099 — — — 1,955,375 — — Ps. 212,086,474 Gas 77,596 31,648,990 — 2,439,805 17,270,489 — — 51,436,880 Refined petroleum products — 357,716,951 — 539,640 117,146,844 — — 475,403,435 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 Ps. 832,595,839 Timing of revenue recognition 2024 Products transferred at a point in time Ps. 167,641,188 314,036,908 247,635 75,731,508 237,448,242 — 11,922,829 Ps. 807,028,310 Products and services transferred over the time 13,198 7,460,302 — 189 909,804 439 14,203 8,398,135 Total Ps. 167,654,386 321,497,210 247,635 75,731,697 238,358,046 439 11,937,032 Ps. 815,426,445 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 Ps. 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 Ps. 832,595,839 For the three-month periods ended June 30, Exploration and Production Industrial Transformation Logistics DPRLP Trading Corporate Other Operating Total Geographical market 2024 United States Ps. 48,224,823 — — 36,444,125 32,925,569 — 340,753 Ps. 117,935,270 Other 17,168,338 — — — 8,191,343 — 109,926 25,469,607 Europe 14,963,126 — — — 4,181,483 — — 19,144,609 Local 32,633 163,006,359 125,330 — 80,945,403 229 2,868,626 246,978,580 Total Ps. 80,388,920 163,006,359 125,330 36,444,125 126,243,798 229 3,319,305 Ps. 409,528,066 2023 United States Ps. 69,342,075 — — 43,120,332 34,568,985 — 400,358 Ps. 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 502,029 178,889,860 938,914 — 34,264,175 225 5,888,446 220,483,649 Total Ps. 110,953,043 178,889,860 938,914 43,120,332 73,937,905 225 6,316,577 Ps. 414,156,856 Major products and services 2024 Crude oil Ps. 80,356,287 — — — 1,671,627 — — Ps. 82,027,914 Gas 25,571 10,779,929 — — 3,039,975 — — 13,845,475 Refined petroleum products — 142,925,672 — 24,604,116 118,997,748 — — 286,527,536 Other — 9,171,086 — 11,839,820 2,120,968 — 3,312,152 26,444,026 Services 7,062 129,672 125,330 189 413,480 229 7,153 683,115 Total Ps. 80,388,920 163,006,359 125,330 36,444,125 126,243,798 229 3,319,305 Ps. 409,528,066 2023 Crude oil Ps. 110,912,923 — — — 1,274,349 — — Ps. 112,187,272 Gas 33,701 13,975,569 — 2,439,805 6,791,280 — — 23,240,355 Refined petroleum products — 164,464,485 — (34,383,489) 65,086,715 — — 195,167,711 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 Ps. 414,156,856 Timing of revenue recognition 2024 Products transferred at a point in time Ps. 80,381,858 160,964,803 125,330 36,443,936 125,830,318 — 3,312,152 Ps. 407,058,397 Products and services transferred over the time 7,062 2,041,556 — 189 413,480 229 7,153 2,469,669 Total Ps. 80,388,920 163,006,359 125,330 36,444,125 126,243,798 229 3,319,305 Ps. 409,528,066 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 Ps. 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 Ps. 414,156,856 |
Schedule of Nature and Timing of Satisfaction of Performance Obligation | 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”). 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. Products / services Nature, performance obligations Timing of revenue recognition 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, 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. 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. |
Financial instruments (Tables)
Financial instruments (Tables) | 6 Months Ended |
Jun. 30, 2024 | |
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, 2024 and December 31, 2023. 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. Carrying amount Fair value hierarchy As of June 30, 2024 FVTPL FVOCI – FVOCI – Financial Other financial Total carrying Level 1 Level 2 Level 3 Total Financial assets measured at fair value Derivative financial instruments 8,874,917 — — — — 8,874,917 — 8,874,917 — 8,874,917 Equity instruments (1) — — 552,355 — — 552,355 — 552,355 — 552,355 Total 8,874,917 — 552,355 — — 9,427,272 Financial assets not measured at fair value Cash and cash equivalents — — — 66,735,531 — 66,735,531 — — — — Customers — — — 130,341,132 — 130,341,132 — — — — Officials and employees — — — 5,852,347 — 5,852,347 — — — — Sundry debtors — — — 40,836,160 — 40,836,160 — — — — Investments in associates — — — 2,053,711 — 2,053,711 — — — — Notes receivable — — — 995,269 — 995,269 — — — — Mexican Government Bonds — — — 53,293,310 — 53,293,310 52,166,173 — — 52,166,173 Other assets — — — 5,347,634 — 5,347,634 — — — — Total — — — 305,455,094 — 305,455,094 Financial liabilities measured at fair value Derivative financial instruments (54,298,400) — — — — (54,298,400) — (54,298,400) — (54,298,400) Total (54,298,400) — — — — (54,298,400) Financial liabilities not measured at fair value Suppliers — — — — (362,517,039) (362,517,039) — — — — Accounts and accrued expenses payable — — — — (94,738,999) (94,738,999) — — — — Leases — — — — (45,389,051) (45,389,051) — — — — Debt — — — — (1,826,548,627) (1,826,548,627) — (1,618,209,028) — (1,618,209,028) Total — — — — (2,329,193,716) (2,329,193,716) (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, 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 9,926,384 — — — — 9,926,384 — 9,926,384 — 9,926,384 Equity instruments (1) — — 552,355 — — 552,355 — 552,355 — 552,355 Total 9,926,384 — 552,355 — — 10,478,739 Financial assets not measured at fair value Cash and cash equivalents — — — 68,747,376 — 68,747,376 — — — — Customers — — — 111,394,431 — 111,394,431 — — — — Officials and employees — — — 5,633,492 — 5,633,492 — — — — Sundry debtors — — — 35,253,635 — 35,253,635 — — — — Investments in associates — — — 1,854,803 — 1,854,803 — — — — Notes receivable — — — 1,179,706 — 1,179,706 — — — — Mexican Government Bonds — — — 64,132,418 — 64,132,418 62,731,992 — — 62,731,992 Other assets — — — 6,109,398 — 6,109,398 — — — — Total — — — 294,305,259 — 294,305,259 Financial liabilities measured at fair value Derivative financial instruments (36,494,962) — — — — (36,494,962) — (36,494,962) — (36,494,962) Total (36,494,962) — — — — (36,494,962) Financial liabilities not measured at fair value Suppliers — — — — (368,345,849) (368,345,849) — — — — Accounts and accrued expenses payable — — — — (83,646,764) (83,646,764) — — — — Leases — — — — (41,848,333) (41,848,333) — — — — Debt — — — — (1,794,470,357) (1,794,470,357) — (1,577,509,797) — (1,577,509,797) Total — — — — (2,288,311,303) (2,288,311,303) (1) Refers to the participation in TAG Pipelines Sur, S. de R.L. de C.V. |
Summary of portfolio of financial instruments is composed of debt instruments and DFIs. | In the event that TIIE ceases to be published, the financial instruments portfolio referenced to these floating rates is composed of debt instruments and DFIs as shown below: *Notional Amounts As of June 30, 2024 Reference Rate (in thousands of Mexican pesos) Debt TIIE 28D MXN 191,014,074 TIIE 91D MXN 13,801,317 DFI TIIE 28D MXN 31,733,673 *Note: Notional amounts with maturity after June 30, 2024. |
Cash and Cash Equivalents (Tabl
Cash and Cash Equivalents (Tables) | 6 Months Ended |
Jun. 30, 2024 | |
Cash and cash equivalents [abstract] | |
Summary of Cash and Cash Equivalents | As of June 30, 2024 and December 31, 2023, cash and cash equivalents were as follows: June 30, 2024 December 31, 2023 Cash on hand and in banks (1) Ps. 45,387,244 Ps. 45,728,321 Highly liquid investments (2) 21,348,287 23,019,055 Total of cash and cash equivalents Ps. 66,735,531 Ps. 68,747,376 (1) Cash on hand and in banks is primarily composed of cash in banks. (2) |
Customers and Other Financing_2
Customers and Other Financing and Non-Financing Accounts Receivable (Tables) | 6 Months Ended |
Jun. 30, 2024 | |
Trade and other receivables [abstract] | |
Summary of Accounts Receivable and Other Receivables | Customers June 30, 2024 December 31, 2023 Domestic customers, net Ps. 88,799,646 Ps. 79,069,658 Export customers, net 41,541,486 32,324,773 Total customers, net Ps. 130,341,132 Ps. 111,394,431 |
Summary of Other Accounts Receivable | Other financial and non-financial accounts receivable June 30, 2024 December 31, 2023 Financial assets: Sundry debtors (1) Ps. 40,836,160 Ps. 35,253,635 Employees and officers 5,852,347 5,633,492 Total financial assets Ps. 46,688,507 Ps. 40,887,127 Non-financial assets: Taxes to be recovered and prepaid taxes Ps. 69,013,916 Ps. 155,336,028 Special Tax on Production and Services 6,313,278 2,603,657 Other accounts receivable 3,616,062 5,139,993 Total non-financial assets Ps. 78,943,256 Ps. 163,079,678 (1) Includes Ps.(898,072) and Ps.(827,739) of impairment, as of June 30, 2024 and December 31, 2023, respectively. |
Inventories (Tables)
Inventories (Tables) | 6 Months Ended |
Jun. 30, 2024 | |
Disclosure of inventories [abstract] | |
Summary of Inventories | As of June 30, 2024 and December 31, 2023, inventories were as follows: June 30, 2024 December 31, 2023 Refined and petrochemicals products Ps. 45,560,793 Ps. 51,455,826 Crude oil 28,227,592 28,428,427 Products in transit 22,955,930 25,510,618 Materials and products in stock 6,640,238 5,870,013 Gas and condensate products 149,592 160,180 Materials in transit 24,060 610,928 Ps. 103,558,205 Ps. 112,035,992 |
Investments in Associates (Tabl
Investments in Associates (Tables) | 6 Months Ended |
Jun. 30, 2024 | |
Investments in subsidiaries, joint ventures and associates reported in separate financial statements [abstract] | |
Schedule of Permanent Investments in joint Ventures and Associates | The investments in associates as of June 30, 2024 and December 31, 2023 were as follows: Percentage June 30, 2024 December 31, 2023 Sierrita Gas Pipeline LLC 35.00% Ps. 877,307 Ps. 879,616 Frontera Brownsville, LLC. 50.00% 381,253 354,691 Administración del Sistema Portuario Nacional Dos Bocas, S. A. de C.V. 40.00% 226,606 74,529 Texas Frontera, LLC. 50.00% 204,788 178,421 Other, net Various 198,668 183,898 CH4 Energía, S. A. de C.V. 50.00% 165,089 183,648 Ps. 2,053,711 Ps. 1,854,803 |
Schedule (Loss) Profit Sharing in Joint Ventures and Associates | Profit sharing in associates: Six-month periods ended June 30, 2024 2023 Administración del Sistema Portuario Nacional Dos Bocas, S.A. de C.V. Ps. 152,078 Ps. 21,256 Sierrita Gas Pipeline LLC 42,092 28,753 Other, net 34,707 46,128 CH4 Energía S.A. de C.V. 21,441 22,970 Texas Frontera, LLC. 17,304 31,239 Ductos el Peninsular, S. A. P. I. de C. V. 1,024 — Frontera Brownsville, LLC. (3,430) 1,623 Profit sharing in associates Ps. 265,216 Ps. 151,969 Three-month periods ended June 30, 2024 2023 Administración del Sistema Portuario Nacional Dos Bocas, S.A. de C.V. Ps. 138,860 Ps. (9,042) Sierrita Gas Pipeline LLC 42,092 (778) Other, net 34,707 20,729 Texas Frontera, LLC. 9,812 19,351 CH4 Energía S.A. de C.V. 9,024 11,049 Ductos el Peninsular, S. A. P. I. de C. V. 1,024 — Frontera Brownsville, LLC. (1,200) 704 Profit sharing in associates Ps. 234,319 Ps. 42,013 |
Wells, Pipelines, Properties,_2
Wells, Pipelines, Properties, Plant and Equipment, Net (Tables) | 6 Months Ended |
Jun. 30, 2024 | |
Disclosure of detailed information about property, plant and equipment [abstract] | |
Detailed Information About Property, Plant and Equipment | As of June 30, 2024, 2023 and December 31, 2023, 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, 2023 Ps. 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 Ps. 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 Ps. 4,227,122,075 Balances as of January 1, 2023 Ps. 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 Ps. 4,150,256,095 Acquisitions 24,218,720 5,271,100 4,266,300 36,368,940 24,280 2,164,860 2,564,910 3,447,500 249,698,512 140,930 328,166,052 Reclassifications 3,396,480 — 103,670 2,967,760 (197,220) (2,648,540) (246,280) 1,000 3,855,890 — 7,232,760 Capitalization 15,580,570 — 15,121,590 71,789,810 1,739,570 7,966,840 1,119,100 883,390 (114,200,870) — — Disposals (8,316,930) (1,198,300) (21,457,210) (2,321,630) (52,680) (2,587,350) (611,940) (78,490) (1,360,990) (37,300) (38,022,820) Translation effect (17,728,270) — (273,420) — (1,423,660) — (90,310) (562,380) (31,513,360) (340,630) (51,932,030) Balances as of December 31, 2023 Ps. 1,070,987,449 18,913,795 491,444,562 1,695,212,594 73,956,002 425,259,020 53,545,137 32,988,437 480,504,766 52,888,295 Ps. 4,395,700,057 Acquisitions 4,184,350 3,992,350 2,495,830 23,945,850 6,970 34,420 876,130 429,130 92,933,750 — 128,898,780 Reclassifications 596,770 — 488,180 1,148,690 51,250 (550,380) 309,580 51,810 (7,470) — 2,088,430 Capitalization 15,917,040 — 219,830 30,853,870 906,090 — 292,640 26,830 (48,243,720) 27,420 — Disposals (552,510) — (990) — (13,500) — (883,250) (209,220) (3,430,000) (5,080) (5,094,550) Translation effect 10,789,180 — (827,820) — 865,680 — 66,190 324,360 16,092,850 196,530 27,506,970 Balances as of June 30, 2024 Ps. 1,101,922,279 22,906,145 493,819,592 1,751,161,004 75,772,492 424,743,060 54,206,427 33,611,347 537,850,176 53,107,165 Ps. 4,549,099,687 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, 2023 Ps. (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) — Ps. (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) — Ps. (2,895,702,270) Balances as of January 1, 2023 Ps. (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) — Ps. (2,781,505,245) Depreciation and amortization (33,219,850) (714,350) (12,824,020) (73,618,580) (1,858,330) (12,164,310) (1,645,720) (1,510,116) — — (137,555,276) Reclassifications 45,407,770 — (46,118,320) (6,926,040) 327,930 109,160 (12,330) 74,390 (95,320) — (7,232,760) (Impairment) (45,202,986) — (22,452,490) (55,380,990) — (26,134,930) — — (4,808,840) — (153,980,236) Reversal of impairment 19,244,900 — 18,153,170 52,926,380 23,570 29,485,650 10,100 33,078 5,305,870 — 125,182,718 Disposals 7,510,670 411,410 18,624,270 1,216,350 41,730 2,064,410 587,800 55,608 — — 30,512,248 Translation effect 10,150,720 — 196,130 — 693,390 — 57,640 102,780 — — 11,200,660 Balances as of December 31, 2023 Ps. (785,552,629) (6,896,584) (308,862,775) (1,341,888,963) (48,568,206) (300,832,110) (46,934,913) (16,908,292) (56,933,419) — Ps. (2,913,377,891) Depreciation and amortization (16,226,649) (350,870) (5,582,490) (42,484,220) (876,000) (7,073,410) (797,140) (867,850) — — (74,258,629) Reclassifications (117,840) — (488,180) (1,148,790) (18,750) 46,270 (309,430) (51,810) 100 — (2,088,430) (Impairment) (37,860,556) — (4,202,050) (7,932,150) — (2,393,760) — — (1,428,080) — (53,816,596) Reversal of impairment 8,301,490 — 2,143,360 14,728,060 — 5,537,470 62,440 — 5,494,785 — 36,267,605 Disposals 437,904 — 970 — 6,200 — 880,180 130,944 — — 1,456,198 Translation effect (6,453,850) — 834,640 — (404,820) — (32,060) (74,000) — — (6,130,090) Balances as of June 30, 2024 Ps. (837,472,130) (7,247,454) (316,156,525) (1,378,726,063) (49,861,576) (304,715,540) (47,130,923) (17,771,008) (52,866,614) — Ps. (3,011,947,833) 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 Ps. 1,331,419,805 Wells, pipelines, properties, plant and equipment—net as of December 31, 2023 Ps. 285,434,820 12,017,211 182,581,787 353,323,631 25,387,796 124,426,910 6,610,224 16,080,145 423,571,347 52,888,295 Ps. 1,482,322,166 Wells, pipelines, properties, plant and equipment—net as of June 30, 2024 Ps. 264,450,149 15,658,691 177,663,067 372,434,941 25,910,916 120,027,520 7,075,504 15,840,339 484,983,562 53,107,165 Ps. 1,537,151,854 Depreciation rates 3 to 5% 5% 2 to 7% — 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. For the six-month periods ended June 30, 2024 and 2023, 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.4,767,020, and Ps.2,389,748, respectively. Financing cost rates during the six-month periods ended June 30, 2024 and 2023 were 7.82% to 18.68%, and 6.47% to 7.54%, respectively. B. The combined depreciation of fixed assets and amortization of wells for the six-month periods ended June 30, 2024 and 2023, recognized in operating costs and expenses, was Ps.74,258,629 and Ps.56,791,178, respectively. These figures include Ps.91,114 and Ps.30,330 for oil and gas production assets and costs related to plugging and abandonment of wells for the six-month periods ended June 30, 2024 and 2023, respectively. C. As of June 30, 2024 and December 31, 2023, provisions relating to future plugging of wells costs amounted to Ps.69,121,263 and Ps.61,117,106, respectively, and are presented in the “Provisions for plugging of wells” (see Note 17). D. For the six-month periods ended June 30, 2024 and 2023, the translation effect of property, plant and equipment items from a different currency than the presentation currency was Ps.21,376,880 and Ps.(37,151,380), respectively, which was mainly plant. E. During the six-month periods ended June 30, 2024 and 2023, PEMEX recognized a net (impairment) of Ps.(17,548,991) and Ps.(66,084,491), respectively, which is presented as a separate line item in the condensed consolidated interim statement of comprehensive income as follows: For the six-month periods ended June 30, 2024 2023 (Impairment) / Pemex Industrial Transformation Ps. (36,392,092) Ps. (6,548,396) Pemex Logistics (171,830) — Pemex Exploration and Production 19,014,931 (59,536,095) (Impairment), net Ps. (17,548,991) Ps. (66,084,491) |
Summary of Net Impairment and Net Reversal of Impairment | For the six-month periods ended June 30, 2024 2023 (Impairment) / Pemex Industrial Transformation Ps. (36,392,092) Ps. (6,548,396) Pemex Logistics (171,830) — Pemex Exploration and Production 19,014,931 (59,536,095) (Impairment), net Ps. (17,548,991) Ps. (66,084,491) |
Summary of Reversal Impairment loss for CGUs | 2024 2023 Cantarell Ps. 15,095,434 Ps. (2,851,694) Aceite Terciario del Golfo 7,032,771 (6,634,837) Lakach 2,845,690 2,905,272 Ayin Alux 2,516,348 — Tamaulipas Constituciones 1,665,580 (742,705) Arenque 1,185,779 (528,440) Burgos 546,186 (5,995,860) Antonio J. Bermúdez 385,159 (1,139,810) Poza Rica 108,370 (751,664) Cuenca Macuspana 35,600 (70,075) Cárdenas Mora CEE — 3,805 Chuc — (19,216,570) Crudo Ligero Marino — (7,863,676) Ixtal - Manik — (4,837,174) Santuario CEE — (112,355) Misión CEE (78,381) (28,177) Ogarrio Magallanes (3,939,798) (6,448,126) Tsimin Xux (8,383,807) (5,224,009) Total Ps. 19,014,931 Ps. (59,536,095) 2024 2023 Minatitlán Refinery Ps. (15,146,588) Ps. (4,558,203) Ciudad Pemex Gas Processor Complex (5,265,217) — Madero Refinery (5,039,912) (10,210,354) Cactus Gas Processor Complex (2,983,894) — Cosoleacaque Petrochemical Complex (1,985,563) (1,301,741) Gas Burgos Gas Processor Complex (1,729,422) (808,931) Morelos Petrochemical Complex (1,179,313) 3,208,249 Nuevo Pemex Gas Processor Complex (1,141,900) 1,080,820 Coatzacoalcos Gas Processor Complex (952,880) — Cangrejera Ethylene Complex (486,975) — La Venta Gas Processor Complex (450,034) — Tula Refinery (108,056) — Matapionche Gas Processor Complex (45,226) (156,642) Gas Arenque Processor Complex (2,420) (104,647) Cangrejera Petrochemical Complex 106 524,059 Salamanca Refinery 393 5,750,652 Pajaritos Ethylene Complex 55,743 — Gas Poza Rica Processor Complex 69,066 28,342 Total Ps. (36,392,092) Ps. (6,548,396) |
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 2024 2023 Average crude oil price 65.81 U.S.$/bl 61.72 U.S.$/bl Average gas price 4.92 U.S.$/mpc 4.96 U.S.$/mpc Average condensates price 74.92 U.S.$/bl 67.57 U.S.$/bl After-tax discount rate 10.44% annual 10.42% 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, 2024 2023 2024 2023 2024 2023 2024 2023 2024 2023 Refining Gas Petrochemicals Ethylene Fertilizers Average crude oil Price (U.S.$) 105.12 75.2 N.A. N.A. N.A. N.A. Processed volume (1) 1,029 mbd 903 mbd 2,424 mmpcd of humid gas 2,575 mmpcd of humid gas Variable because the load inputs are diverse Variable because the load inputs are diverse Variable because the load inputs are diverse Rate of U.S.$ 18.3773 17.072 18.3773 17.072 18.3773 17.072 18.3773 17.072 18.3773 17.072 Useful lives of the cash-generating units (year average) 11 11 6 6 5 5 5 5 5 5 Pre-tax discount rate 14.50% 14.10 14.12% 13.26% 10.85% 10.46% 10.85% 10.46% 11.87% 13.05% Period (2) 2024-2034 2023-2033 2024-2029 2023-2028 2024-2028 2023-2027 2024-2028 2023-2027 2024-2028 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, 2024 and 2023, values in use for CGU are: 2024 2023 Chuc Ps. 62,681,511 Ps. 36,565,512 Aceite Terciario del Golfo 34,325,751 37,276,319 Crudo Ligero Marino 33,518,405 17,206,881 Cantarell 33,149,103 — Ogarrio Magallanes 28,348,410 24,027,128 Antonio J. Bermúdez 25,737,767 8,654,361 Tsimin Xux 24,453,758 27,851,730 Ixtal - Manik 13,840,302 6,472,463 Poza Rica 6,716,573 5,500,551 Tamaulipas Constituciones 6,024,454 1,931,129 Ayin Alux 4,955,853 — Lakach 4,086,521 3,328,644 Burgos 3,776,739 7,399,377 Arenque 3,658,416 4,084,877 Cuenca de Macuspana 593,807 — Total Ps. 285,867,370 Ps. 180,298,972 , the value in use for the impairment of fixed assets was as follows: 2024 2023 Salina Cruz Refinery Ps. 79,920,687 Ps. 44,338,748 Tula Refinery 47,008,486 55,664,585 Salamanca Refinery 36,234,540 28,617,019 Nuevo Pemex Gas Processor Complex 6,734,674 27,965,299 Ciudad Pemex Gas Processor Complex 6,278,504 — Cactus Gas Processor Complex 4,360,278 — La Venta Gas Processor Complex 980,146 — Coatzacoalcos Gas Processor Complex 905,502 — Madero Refinery — 730,425 Burgos Gas Processor Complex — 965,475 Morelos Petrochemicals Complex — 2,969,979 Cosoleacaque Petrochemical Complex — 858,643 Total Ps. 182,422,817 Ps. 162,110,173 |
Intangible Assets, Net (Tables)
Intangible Assets, Net (Tables) | 6 Months Ended |
Jun. 30, 2024 | |
Disclosure of detailed information about intangible assets [abstract] | |
Schedule of Intangible Assets, Net are Wells Unassigned to a Reserve | Wells unassigned to a reserve As of June 30, 2024 2023 Wells unassigned to a reserve: Balance at the beginning of the year Ps. 18,940,360 Ps. 28,388,655 Additions to construction in progress 15,850,475 18,994,442 Transfers against expenses (10,836,456) (15,667,953) Transfers against fixed assets (3,368,473) (10,669,293) Balance at the end of the period Ps. 20,585,906 Ps. 21,045,851 |
Schedule of Other Components of Intangible Assets | Other intangible assets are mainly licenses, exploration expenses, evaluation of assets and concessions. As of June 30, 2024 2023 Balance at the beginning of the year Ps. 1,410,459 Ps. 1,636,280 Additions 324,725 297,387 Effects of foreign exchange 80,963 (161,042) Amortization (176,074) (196,096) Balance at the end of the period Ps. 1,640,073 Ps. 1,576,529 |
Government Bonds and Other As_2
Government Bonds and Other Assets (Tables) | 6 Months Ended |
Jun. 30, 2024 | |
Disclosure Of Notes Receivable Government Bonds And Other Long Term Assets [Abstract] | |
Summary of Balance of Government Bonds | The following table sets forth the balance of Mexican Government local bonds (the “Government Bonds”) held by Petróleos Mexicanos valued at amortized cost as of June 30, 2024 and December 31, 2023: June 30, 2024 December 31, 2023 Government Bonds (1) Ps. 53,293,310 Ps. 64,132,418 Less: current portion of Government Bonds, net of expected credit losses 28,531,855 28,637,314 Total long-term of Government bonds Ps. 24,761,455 Ps. 35,495,104 (1) As of June 30, 2024 and December 31, 2023, includes an expected credit loss of Ps. 4,649, for both periods. |
Summary of Roll forward of the Mexican Bonds | The roll-forward of the Government Bonds is as follows: As of June 30, 2024 2023 Balance as of the beginning of the year Ps. 64,132,418 Ps. 110,179,517 Government Bonds collected (1) (10,732,626) (27,901,421) Accrued interests 2,736,903 3,985,217 Interests received from bonds (2,764,716) (4,547,770) Impact of the valuation of bonds in UDIs — 109,585 Amortized cost (79,616) 270,498 Reversal of impairment of bonds 947 2,546 Balance at the end of the period Ps. 53,293,310 Ps. 82,098,172 (1) As of June 30, 2024 three series of Government Bonds were collected in February, April and June. |
Summary of Other Assets | As of June 30, 2024 and December 31, 2023, the balance of other assets was as follows: June 30, 2024 December 31, 2023 Payments in advance (1) Ps. 5,386,010 Ps. 5,907,464 Other 4,562,262 3,353,985 Insurance 1,236,431 1,352,643 Total other assets Ps. 11,184,703 Ps. 10,614,092 (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, 2024 | |
Disclosure of long term debt [abstract] | |
Summary of Foreign Currency Translation | As of June 30, 2024 and 2023, PEMEX used the following exchange rates to translate the outstanding balances in foreign currencies to pesos in the statement of financial position: As of June 30, 2024 2023 U.S. dollar 18.3773 17.0720 Japanese yen 0.1143 0.1183 Pounds sterling 23.2399 21.5977 Euro 19.6747 18.6443 Swiss francs 20.4578 19.0535 |
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, 2024 and 2023, which includes short and long-term debt: As of June 30, 2024 (1) 2023 (1) Changes in total debt: At the beginning of the year Ps. 1,794,470,357 Ps. 2,091,463,996 Loans obtained - financing institutions 536,422,333 431,659,853 Debt payments (620,190,507) (436,838,825) Accrued interest (2)(3) 74,313,214 75,414,835 Interest paid (70,733,122) (75,009,928) Foreign exchange 112,266,352 (200,072,975) At the end of the period Ps. 1,826,548,627 Ps. 1,886,616,956 (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 2024, includes Ps.13,766 in premiums and awards amortizations, Ps.(310,228) in fees and expenses related to the issuance of debt and Ps.1,236,004 in amortized cost. (3) During 2023, includes Ps.164,064 in premiums and awards amortizations, Ps.(984,320) in fees and expenses related to the issuance of debt and Ps.1,310,414 in amortized cost. |
Provisions for Sundry Credito_2
Provisions for Sundry Creditors (Tables) | 6 Months Ended |
Jun. 30, 2024 | |
Disclosure of other provisions [abstract] | |
Summary of Provisions for Sundry Creditors and Others | As of June 30, 2024 and December 31, 2023, the provisions for sundry creditors and others is as follows: June 30, 2024 December 31, 2023 Provision for plugging of wells (Note 13) Ps. 69,121,263 Ps. 61,117,106 Provision for trails in process (Note 19) 15,580,473 12,436,092 Provision for environmental costs 8,112,479 9,757,356 Total Ps. 92,814,215 Ps. 83,310,554 |
Equity (Deficit) (Tables)
Equity (Deficit) (Tables) | 6 Months Ended |
Jun. 30, 2024 | |
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, 2022 Ps. 1,029,592,293 Increase in Certificates of Contribution “A” during 2023 166,615,123 Certificates of Contribution “A” as of December 31, 2023 Ps. 1,196,207,416 Increase in Certificates of Contribution “A” during 2024 145,000,000 Certificates of Contribution “A” as of June 30, 2024 Ps. 1,341,207,416 |
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 the six-month period ended June 30, 2024 totaled Ps.145,000,000 and were designated for the strengthening of Petróleos Mexicanos’ financial position as follows: Date Strengthening of financial position January 12 Ps. 22,479,358 February 12 32,391,756 March 7 13,997,554 March 26 5,857,845 March 26 2,510,505 April 8 5,632,399 May 9 21,321,366 May 9 8,980,400 May 21 27,634,576 June 11 4,194,241 Total Ps. 145,000,000 |
Subsidiary Guarantor Informat_2
Subsidiary Guarantor Information (Tables) | 6 Months Ended |
Jun. 30, 2024 | |
Supplemental Information [abstract] | |
Summary of Principal Amount Outstanding of Registered Debt Securities | The following table sets forth, as of June 30, 2024, 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 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, 2024, 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 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 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 1,980,570 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 4,009,043 5.950% Notes due 2031 Petróleos Mexicanos Pemex Exploration and Production, Pemex Industrial Transformation and Pemex Logistics 3,777,381 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 Security Primary Guarantors Principal amount 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 6,787,190 10.000% Notes due 2033 Petróleos Mexicanos Pemex Exploration and Production, Pemex Industrial Transformation and Pemex Logistics 1,972,663 |
Supplemental Statement of Financial Position | SUPPLEMENTAL CONDENSED CONSOLIDATING FINANCIAL INFORMATION STATEMENT OF FINANCIAL POSITION As of June 30, 2024 Petróleos Subsidiary Non-guarantor Eliminations PEMEX Assets Current assets Cash and cash equivalents Ps. 14,751,338 Ps. 10,716,940 Ps. 41,267,253 Ps. — Ps. 66,735,531 Trade and other accounts receivable, derivative financial instruments and other current assets 39,633,319 140,453,867 115,202,685 — 295,289,871 Accounts receivable—inter-company 2,137,700,397 1,224,287,867 253,034,414 (3,615,022,678) — Inventories 1,910,970 58,343,396 43,303,839 — 103,558,205 Total current assets 2,193,996,024 1,433,802,070 452,808,191 (3,615,022,678) 465,583,607 Long-term receivables—intercompany 1,329,255,786 — 841,312 (1,330,097,098) — Investments in joint ventures and associates (1,321,194,198) 344,308,140 261,674,954 717,264,815 2,053,711 Wells, pipelines, properties, plant and equipment-net 7,063,341 1,161,640,439 368,448,074 — 1,537,151,854 Long-term notes receivables — 820,812 174,457 — 995,269 Right of use 753,386 39,896,092 3,566,399 — 44,215,877 Deferred taxes 50,248,401 102,541,322 7,249,285 — 160,039,008 Intangible assets 159,317 20,911,948 1,154,714 — 22,225,979 Mexican Government Bonds 24,761,455 — — — 24,761,455 Other assets — 2,387,817 8,796,886 — 11,184,703 Total assets Ps. 2,285,043,512 Ps. 3,106,308,640 Ps. 1,104,714,272 Ps. (4,227,854,961) Ps. 2,268,211,463 Liabilities Current liabilities Current portion of long-term debt Ps. 324,150,510 Ps. 19,973,799 Ps. 52,177,168 Ps. — Ps. 396,301,477 Accounts payable—inter-company 1,819,564,500 1,637,783,717 157,601,891 (3,614,950,108) — Other current liabilities 65,026,042 462,313,258 88,960,767 — 616,300,067 Total current liabilities 2,208,741,052 2,120,070,774 298,739,826 (3,614,950,108) 1,012,601,544 Long-term debt 1,370,591,752 18,170,384 41,485,014 — 1,430,247,150 Long-term payables—inter-company — 1,329,255,786 913,881 (1,330,169,667) — Employee benefits, provisions for sundry creditors, other liabilities and deferred taxes 311,320,480 1,098,675,190 21,116,546 — 1,431,112,216 Total liabilities 3,890,653,284 4,566,172,134 362,255,267 (4,945,119,775) 3,873,960,910 Equity (deficit), net (1,605,609,772) (1,459,863,494) 742,459,005 717,264,814 (1,605,749,447) Total liabilities and equity Ps. 2,285,043,512 Ps. 3,106,308,640 Ps. 1,104,714,272 Ps. (4,227,854,961) Ps. 2,268,211,463 SUPPLEMENTAL CONDENSED CONSOLIDATING FINANCIAL INFORMATION STATEMENT OF FINANCIAL POSITION As of December 31, 2023 Petróleos Subsidiary Non-guarantor Eliminations PEMEX Assets Current assets Cash and cash equivalents Ps. 21,332,062 Ps. 8,121,798 Ps. 39,293,516 Ps. — Ps. 68,747,376 Trade and other accounts receivable, derivative financial instruments and other current assets 44,210,424 223,619,697 89,927,257 — 357,757,378 Accounts receivable—inter-company 1,779,552,352 1,084,854,020 209,158,202 (3,073,564,574) — Inventories 1,657,768 68,635,820 41,742,404 — 112,035,992 Total current assets 1,846,752,606 1,385,231,335 380,121,379 (3,073,564,574) 538,540,746 Long-term receivables—intercompany 1,255,133,079 — 947,917 (1,256,080,996) — Investments in joint ventures and associates (1,193,893,056) 273,172,532 232,597,274 689,978,053 1,854,803 Wells, pipelines, properties, plant and equipment-net 6,883,032 1,152,610,684 322,828,450 — 1,482,322,166 Long-term notes receivables — 998,352 181,354 — 1,179,706 Right of use 1,054,650 38,529,258 3,619,272 — 43,203,180 Deferred taxes 53,872,835 108,283,638 7,758,247 — 169,914,720 Intangible assets 30,385 19,267,774 1,052,660 — 20,350,819 Mexican Government Bonds 35,495,104 — — 35,495,104 Other assets — 2,223,837 8,390,255 — 10,614,092 Total assets Ps. 2,005,328,635 Ps. 2,980,317,410 Ps. 957,496,808 Ps. (3,639,667,517) Ps. 2,303,475,336 Liabilities Current liabilities Current portion of long-term debt Ps. 407,016,329 Ps. 17,773,661 Ps. 52,431,604 Ps. — Ps. 477,221,594 Accounts payable—inter-company 1,611,866,944 1,353,441,870 108,185,471 (3,073,494,285) — Other current liabilities 49,017,649 491,387,451 106,090,967 — 646,496,067 Total current liabilities 2,067,900,922 1,862,602,982 266,708,042 (3,073,494,285) 1,123,717,661 Long-term debt 1,255,500,049 17,755,058 43,993,656 — 1,317,248,763 Long-term payables—inter-company — 1,255,133,079 1,018,205 (1,256,151,284) — Employee benefits, provisions for sundry creditors, other liabilities and deferred taxes 334,789,836 1,162,988,573 17,709,313 — 1,515,487,722 Total liabilities 3,658,190,807 4,298,479,692 329,429,216 (4,329,645,569) 3,956,454,146 Equity (deficit), net (1,652,862,172) (1,318,162,282) 628,067,592 689,978,052 (1,652,978,810) Total liabilities and equity Ps. 2,005,328,635 Ps. 2,980,317,410 Ps. 957,496,808 Ps. (3,639,667,517) Ps. 2,303,475,336 |
Supplemental Statement of Comprehensive Income | SUPPLEMENTAL CONDENSED CONSOLIDATING FINANCIAL INFORMATION STATEMENT OF COMPREHENSIVE INCOME For the six-month period ended June 30, 2024 Petróleos Subsidiary Non-guarantor Eliminations PEMEX Net revenues Ps. — Ps. 922,654,418 Ps. 599,358,534 Ps. (707,948,644) Ps. 814,064,308 Services income 20,681,143 49,294,906 13,064,472 (81,678,384) 1,362,137 Total revenues 20,681,143 971,949,324 612,423,006 (789,627,028) 815,426,445 (Impairment) of wells, pipelines, properties, plant and equipment — (17,548,991) — — (17,548,991) Cost of sales 550,181 858,074,658 596,831,047 (769,704,563) 685,751,323 Gross income 20,130,962 96,325,675 15,591,959 (19,922,465) 112,126,131 Total general expenses 40,794,643 65,349,242 5,901,087 (19,835,896) 92,209,076 Other revenues (expenses), net 81,479 3,706,307 1,255,082 85,701 5,128,569 Operating income (20,582,202) 34,682,740 10,945,954 (868) 25,045,624 Financing cost, net 429,937 (73,633,870) (3,486,285) 870 (76,689,348) Foreign exchange (loss) income, net 21,003,651 (145,304,741) (1,994,052) — (126,295,142) Profit (loss) sharing in joint ventures and associates (260,831,141) (373,953) 4,459,890 257,010,420 265,216 Income (loss) before duties, taxes and other (259,979,755) (184,629,824) 9,925,507 257,010,422 (177,673,650) Total taxes, duties and other 8,639,331 80,418,825 1,915,551 — 90,973,707 Net (loss)income for the period (268,619,086) (265,048,649) 8,009,956 257,010,422 (268,647,357) Total other comprehensive result 36,555,131 94,543,031 39,778,558 — 170,876,720 Total comprehensive (loss) income Ps. (232,063,955) Ps. (170,505,618) Ps. 47,788,514 Ps. 257,010,422 Ps. (97,770,637) 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 Statement of Cash Flows | SUPPLEMENTAL CONDENSED CONSOLIDATING FINANCIAL INFORMATION STATEMENT OF CASH FLOWS For the six-month period ended June 30, 2024 Petróleos Subsidiary Non-guarantor Eliminations PEMEX consolidated Operating activities: Net (loss) income Ps. (268,619,086) Ps. (265,048,649) Ps. 8,009,956 Ps. 257,010,422 Ps. (268,647,357) Total duties, taxes and other 8,639,331 80,418,824 1,915,552 — 90,973,707 Depreciation and amortization of wells, pipelines, properties, plant and equipment 284,137 71,593,632 2,380,860 — 74,258,629 Amortization of intangible assets 120,370 11,148 44,556 — 176,074 Impairment of wells, pipelines, properties, plant and equipment — 17,548,991 — — 17,548,991 Capitalized unsuccessful wells — 4,492,742 — — 4,492,742 Unsuccessful wells from intangible assets — 10,836,456 — — 10,836,456 Loss from derecognition of disposal of wells, pipelines, properties, plant and equipment 73,346 2,464,759 (230,005) — 2,308,100 Depreciation of rights of use 301,264 1,912,000 702,412 — 2,915,676 Discount rate of reserve for well abandonment — 2,369,541 — — 2,369,541 Loss (profit) sharing in joint ventures and associates 260,831,141 373,953 (4,459,890) (257,010,420) (265,216) Unrealized foreign exchange loss (income) 106,241,032 9,287,579 4,757,313 — 120,285,924 Financing cost 65,947,218 1,210,804 3,942,460 — 71,100,482 Financing income (4,648,274) (4,361,078) (1,185,099) — (10,194,451) Duties and taxes (3,645,278) (129,007,832) 731,190 — (131,921,920) Accounts receivable, inventories, accounts payable, DFIs and provisions 22,021,534 112,825,868 (13,876,836) — 120,970,566 Employee benefits 10,344,362 17,965,840 127,409 — 28,437,611 Inter-company charges and deductions (223,822,780) (182,138,998) (17,649,958) 423,611,736 — Cash flows from (used in) operating activities (25,931,683) (247,244,420) (14,790,080) 423,611,738 135,645,555 Investing activities: Acquisition of wells, pipelines, properties, plant and equipment and intangible assets (791,371) (104,251,526) (56,528,026) — (161,570,923) Other assets and other receivables 1,743,854 2,450,275 1,972,682 — 6,166,811 (Increase) decrease due to Inter-company investing (207,652,706) — 15,790,238 191,862,468 — Cash flows (used in) from investing activities (206,700,223) (101,801,251) (38,765,106) 191,862,468 (155,404,112) Financing activities: Increase in equity due to Certificates of Contribution “A” 145,000,000 — — — 145,000,000 Collection and interest collected from the Mexican Government 13,497,342 — — — 13,497,342 Lease payments of principal and interest (225,131) (3,320,652) (780,834) — (4,326,617) Loans obtained from financial institutions 206,392,226 18,079,220 311,950,887 — 536,422,333 Debt payments, principal only (276,498,585) (19,010,190) (324,681,732) — (620,190,507) Interest paid (69,812,226) (2,572,120) 1,651,224 — (70,733,122) Inter-company increase (decrease) financing 207,697,556 358,464,555 49,312,095 (615,474,206) — Net cash flows from (used in) financing activities: 226,051,182 351,640,813 37,451,640 (615,474,206) (330,571) Net (decrease) increase in cash and cash equivalents (6,580,724) 2,595,142 (16,103,546) — (20,089,128) Effects of foreign exchange on cash balances — — 18,077,283 — 18,077,283 Cash and cash equivalents at the beginning of the year 21,332,062 8,121,798 39,293,516 — 68,747,376 Cash and cash equivalents at the end of the period Ps. 14,751,338 Ps. 10,716,940 Ps. 41,267,253 Ps. — Ps. 66,735,531 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 Total duties, taxes and other (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) Financing cost 65,163,379 6,312,376 3,305,062 — 74,780,817 Financing 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 (decrease) increase 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 period Ps. 13,449,953 Ps. 13,035,929 Ps. 37,629,318 Ps. — Ps. 64,115,200 |
Authorization and Basis of Pr_3
Authorization and Basis of Preparation - Additional Information (Detail) | 6 Months Ended | 12 Months Ended |
Jun. 30, 2024 | Dec. 31, 2023 | |
Disclosure of basis of preparation [Abstract] | ||
Employee benefits provision | 33% | 35% |
Subsidiary Entities and Subsi_2
Subsidiary Entities and Subsidiary Companies - Additional Information (Detail) | 6 Months Ended |
Jun. 30, 2024 | |
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 | 12 Months Ended |
Jun. 30, 2024 segment customer | Dec. 31, 2023 segment | |
Disclosure of operating segments [abstract] | ||
Number of business segments | segment | 7 | 7 |
Number of major customers | customer | 18 |
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 | |||||
Sep. 25, 2024 | Jun. 30, 2024 | Jun. 30, 2023 | Jun. 30, 2024 | Jun. 30, 2023 | Dec. 31, 2023 | Dec. 31, 2022 | |
Revenues: | |||||||
Trade | $ 408,844,951 | $ 412,579,540 | $ 814,064,308 | $ 830,492,936 | |||
Services income | 683,115 | 1,577,316 | 1,362,137 | 2,102,903 | |||
(Impairment) of wells, pipelines, properties, plant and equipment, net | (9,903,148) | (25,947,103) | (17,548,991) | (66,084,491) | |||
Cost of sales | 363,565,950 | 328,562,776 | 685,751,323 | 632,545,139 | |||
Gross income | 36,058,968 | 59,646,977 | 112,126,131 | 133,966,209 | |||
Distribution, transportation and sale expenses | 5,236,938 | 2,911,297 | 7,732,620 | 7,489,355 | |||
Administrative expenses | 43,751,747 | 39,249,329 | 84,476,456 | 79,484,465 | |||
Other revenues | 4,331,494 | 5,973,794 | 8,581,117 | 12,170,448 | |||
Other expenses | 2,753,666 | 1,943,755 | 3,452,548 | 2,670,348 | |||
Operating income | (11,351,889) | 21,516,390 | 25,045,624 | 56,492,489 | |||
Financing income | 3,655,162 | 2,209,379 | 10,194,451 | 8,224,531 | |||
Financing cost | 37,014,725 | 36,605,455 | 71,100,482 | 74,780,817 | |||
Derivative financial instruments income (cost), net | (10,064,456) | 2,489,947 | (15,783,317) | 2,788,339 | |||
Foreign exchange (loss) income — net | $ 83,191,617 | (159,683,239) | 105,359,430 | (126,295,142) | 230,676,132 | ||
Profit sharing in associates | 234,319 | 42,013 | 265,216 | 151,969 | |||
Total duties, taxes and other | 59,104,735 | 69,588,325 | 90,973,707 | 141,393,488 | |||
Net (loss) income | (273,329,563) | 25,423,379 | (268,647,357) | 82,159,155 | |||
Total current assets | 465,583,607 | 465,583,607 | $ 538,540,746 | ||||
Total non-current assets | 1,802,627,856 | 1,802,627,856 | 1,764,934,590 | ||||
Total current liabilities | 1,012,601,544 | 1,012,601,544 | 1,123,717,661 | ||||
Total long-term liabilities | 2,861,359,366 | 2,861,359,366 | 2,832,736,485 | ||||
Total equity (deficit) | (1,605,749,447) | (1,721,218,453) | (1,605,749,447) | (1,721,218,453) | (1,652,978,810) | $ (1,768,822,225) | |
Depreciation and amortization of wells, pipelines, properties, plant and equipment | 41,377,932 | 28,735,620 | 74,258,629 | 56,791,178 | |||
Depreciation of rights of use | 1,496,030 | 1,077,918 | 2,915,676 | 2,385,577 | |||
Net periodic cost of employee benefits | 33,796,534 | 33,582,053 | 68,995,660 | 66,972,522 | |||
Interest income | 2,399,744 | 2,830,294 | 6,188,008 | 7,332,811 | |||
Interest cost | 35,615,087 | 34,541,093 | 67,765,838 | 69,310,697 | |||
Intersegment eliminations | |||||||
Revenues: | |||||||
Intersegment | (385,714,484) | (380,886,122) | (789,627,028) | (779,703,705) | |||
Cost of sales | (382,103,636) | (355,485,478) | (769,704,562) | (733,559,272) | |||
Gross income | (3,610,848) | (25,400,644) | (19,922,466) | (46,144,433) | |||
Distribution, transportation and sale expenses | (1,633,383) | (1,275,636) | (3,149,384) | (2,635,132) | |||
Administrative expenses | (1,971,427) | (23,727,740) | (16,686,510) | (43,342,167) | |||
Other expenses | 7,394 | (406,396) | (85,701) | (170,719) | |||
Operating income | (13,432) | 9,128 | (871) | 3,585 | |||
Financing income | (66,658,342) | (54,298,483) | (153,991,237) | (111,697,161) | |||
Financing cost | (66,671,774) | (54,289,355) | (153,992,108) | (111,693,576) | |||
Profit sharing in associates | 259,707,949 | (48,006,030) | 257,010,420 | (147,196,962) | |||
Net (loss) income | 259,707,949 | (48,006,030) | 257,010,420 | (147,196,962) | |||
Total current assets | (3,653,516,921) | (3,653,516,921) | (3,096,701,174) | ||||
Total non-current assets | (612,832,284) | (612,832,284) | (566,102,945) | ||||
Total current liabilities | (3,653,444,351) | (3,653,444,351) | (3,096,630,883) | ||||
Total long-term liabilities | (1,330,169,669) | (1,330,169,669) | (1,256,151,287) | ||||
Total equity (deficit) | 717,264,815 | 717,264,815 | 689,978,051 | ||||
Exploration and Production | |||||||
Revenues: | |||||||
Trade | 80,381,858 | 110,946,624 | 167,641,188 | 210,208,695 | |||
Intersegment | 127,496,911 | 119,412,979 | 259,533,761 | 243,185,733 | |||
Services income | 7,062 | 6,419 | 13,198 | 13,179 | |||
(Impairment) of wells, pipelines, properties, plant and equipment, net | 26,544,569 | (18,867,771) | 19,014,931 | (59,536,095) | |||
Cost of sales | 128,940,546 | 121,795,236 | 255,656,439 | 225,377,034 | |||
Gross income | 105,489,854 | 89,703,015 | 190,546,639 | 168,494,478 | |||
Distribution, transportation and sale expenses | 176,671 | 148,578 | 331,001 | 316,937 | |||
Administrative expenses | 4,980,119 | 19,585,824 | 19,893,862 | 36,044,430 | |||
Other revenues | 2,275,170 | 702,841 | 3,436,975 | 1,567,552 | |||
Other expenses | 1,934,080 | 1,744,962 | 2,227,199 | 2,399,104 | |||
Operating income | 100,674,154 | 68,926,492 | 171,531,552 | 131,301,559 | |||
Financing income | 18,118,052 | 13,880,957 | 37,075,735 | 30,052,525 | |||
Financing cost | 35,781,051 | 28,815,708 | 92,949,387 | 61,914,236 | |||
Derivative financial instruments income (cost), net | 3,101,430 | 3,050,956 | (10,739,208) | 7,277,345 | |||
Foreign exchange (loss) income — net | (40,337,478) | 54,114,570 | (20,632,464) | 120,010,658 | |||
Profit sharing in associates | 118,177 | (36,963) | 106,495 | (36,008) | |||
Total duties, taxes and other | 45,955,816 | 65,582,750 | 77,700,631 | 137,788,248 | |||
Net (loss) income | (62,532) | 45,537,554 | 6,692,092 | 88,903,595 | |||
Total current assets | 937,920,629 | 937,920,629 | 909,819,796 | ||||
Total non-current assets | 945,415,557 | 945,415,557 | 910,837,120 | ||||
Total current liabilities | 595,337,603 | 595,337,603 | 629,264,289 | ||||
Total long-term liabilities | 1,781,018,827 | 1,781,018,827 | 1,727,159,904 | ||||
Total equity (deficit) | (493,020,244) | (493,020,244) | (535,767,277) | ||||
Depreciation and amortization of wells, pipelines, properties, plant and equipment | 36,032,330 | 23,246,437 | 63,013,017 | 45,405,980 | |||
Depreciation of rights of use | 79,551 | 43,680 | 160,421 | 113,458 | |||
Net periodic cost of employee benefits | 9,524,925 | 9,374,176 | 19,412,723 | 18,748,351 | |||
Interest income | 60,432 | 47,401 | 101,686 | 89,075 | |||
Interest cost | (1,289,026) | (76,444) | (2,909,555) | (225,250) | |||
Industrial Transformation | |||||||
Revenues: | |||||||
Trade | 162,876,687 | 178,768,338 | 321,320,541 | 391,599,929 | |||
Intersegment | 83,025,869 | 60,765,403 | 175,962,347 | 122,295,916 | |||
Services income | 129,672 | 121,522 | 176,669 | 164,645 | |||
(Impairment) of wells, pipelines, properties, plant and equipment, net | (36,447,717) | (7,079,332) | (36,392,092) | (6,548,396) | |||
Cost of sales | 286,417,550 | 277,734,654 | 563,805,165 | 577,117,863 | |||
Gross income | (76,833,039) | (45,158,723) | (102,737,700) | (69,605,769) | |||
Distribution, transportation and sale expenses | 6,460,984 | 3,985,661 | 10,200,978 | 9,571,998 | |||
Administrative expenses | 13,130,212 | 17,219,109 | 27,138,630 | 33,205,975 | |||
Other revenues | 1,202,875 | 2,843,993 | 3,174,426 | 6,675,653 | |||
Other expenses | 628,408 | (765) | 1,006,202 | 19,848 | |||
Operating income | (95,849,768) | (63,518,735) | (137,909,084) | (105,727,937) | |||
Financing income | 111,964 | 348,807 | 541,629 | 559,823 | |||
Financing cost | 9,070,167 | 9,588,288 | 17,540,997 | 17,221,094 | |||
Derivative financial instruments income (cost), net | 134,318 | 174,753 | 156,741 | 390,478 | |||
Foreign exchange (loss) income — net | (143,297,563) | 55,403,887 | (124,477,013) | 116,517,971 | |||
Profit sharing in associates | 141,501 | 1,398,321 | (481,453) | 2,536,741 | |||
Net (loss) income | (247,829,715) | (15,781,255) | (279,710,177) | (2,944,018) | |||
Total current assets | 228,855,334 | 228,855,334 | 218,747,813 | ||||
Total non-current assets | 572,388,371 | 572,388,371 | 521,938,961 | ||||
Total current liabilities | 1,457,901,728 | 1,457,901,728 | 1,161,203,831 | ||||
Total long-term liabilities | 588,622,256 | 588,622,256 | 625,142,251 | ||||
Total equity (deficit) | (1,245,280,279) | (1,245,280,279) | (1,045,659,308) | ||||
Depreciation and amortization of wells, pipelines, properties, plant and equipment | 2,462,100 | 2,695,759 | 5,382,944 | 5,706,197 | |||
Depreciation of rights of use | 806,040 | 811,153 | 1,566,853 | 1,587,118 | |||
Net periodic cost of employee benefits | 13,625,957 | 13,702,260 | 27,750,107 | 27,211,126 | |||
Interest income | 103,461 | 329,116 | 345,114 | 485,865 | |||
Interest cost | 803,101 | 847,327 | 1,545,832 | 1,725,577 | |||
Logistics | |||||||
Revenues: | |||||||
Intersegment | 21,356,659 | 29,994,502 | 47,053,985 | 54,666,766 | |||
Services income | 125,330 | 938,914 | 247,635 | 884,275 | |||
(Impairment) of wells, pipelines, properties, plant and equipment, net | (171,830) | 0 | |||||
Cost of sales | 17,770,354 | 21,622,942 | 38,613,054 | 40,042,416 | |||
Gross income | 3,711,635 | 9,310,474 | 8,516,736 | 15,508,625 | |||
Distribution, transportation and sale expenses | 75,331 | 76,746 | 156,381 | 124,281 | |||
Administrative expenses | 3,113,482 | 5,279,115 | 7,628,389 | 10,518,433 | |||
Other revenues | 288,531 | 973,245 | 428,958 | 1,008,815 | |||
Other expenses | 73,329 | 444,794 | 100,651 | 1,451 | |||
Operating income | 738,024 | 4,483,064 | 1,060,273 | 5,873,275 | |||
Financing income | 5,085,301 | 4,552,787 | 10,009,689 | 9,175,301 | |||
Financing cost | 113,516 | 118,058 | 188,074 | 200,419 | |||
Foreign exchange (loss) income — net | (232,514) | 106,473 | (195,264) | 180,487 | |||
Profit sharing in associates | 1,000 | 44 | 1,005 | 44 | |||
Total duties, taxes and other | 2,048,151 | 3,920,277 | 2,718,193 | 3,986,924 | |||
Net (loss) income | 3,430,144 | 5,104,033 | 7,969,436 | 11,041,764 | |||
Total current assets | 282,912,229 | 282,912,229 | 274,384,409 | ||||
Total non-current assets | 154,702,640 | 154,702,640 | 162,309,993 | ||||
Total current liabilities | 82,717,564 | 82,717,564 | 89,855,544 | ||||
Total long-term liabilities | 76,460,278 | 76,460,278 | 83,574,554 | ||||
Total equity (deficit) | 278,437,027 | 278,437,027 | 263,264,304 | ||||
Depreciation and amortization of wells, pipelines, properties, plant and equipment | 1,546,745 | 1,552,736 | 3,197,671 | 3,157,246 | |||
Depreciation of rights of use | 101,379 | 115,262 | 184,726 | 211,854 | |||
Net periodic cost of employee benefits | 2,132,369 | 2,174,632 | 4,532,084 | 4,349,264 | |||
Interest income | 5,881 | (2,874) | 9,686 | 32,888 | |||
Interest cost | 113,494 | 118,004 | 188,052 | 199,954 | |||
DPRLP | |||||||
Revenues: | |||||||
Trade | 36,443,936 | 43,120,554 | 75,731,508 | 81,871,944 | |||
Intersegment | 4,191,797 | 587,387 | 10,587,880 | 6,247,343 | |||
Services income | 189 | (222) | 189 | 0 | |||
Cost of sales | 43,208,832 | 41,697,687 | 84,944,760 | 80,669,955 | |||
Gross income | (2,572,910) | 2,010,032 | 1,374,817 | 7,449,332 | |||
Administrative expenses | 407,525 | 150,244 | 793,223 | 376,269 | |||
Other revenues | 4,477 | 9,590 | 7,892 | 13,848 | |||
Other expenses | 39 | 137,247 | 39 | 275,190 | |||
Operating income | (2,975,997) | 1,732,131 | 589,447 | 6,811,721 | |||
Financing income | 294,335 | 204,983 | 544,536 | 342,625 | |||
Financing cost | 59,622 | 38,100 | 94,061 | 79,092 | |||
Derivative financial instruments income (cost), net | 50,114 | 92,182 | |||||
Total duties, taxes and other | 14,297 | 56,177 | 48,019 | 68,655 | |||
Net (loss) income | (2,705,467) | 1,842,837 | 1,084,085 | 7,006,599 | |||
Total current assets | 40,254,106 | 40,254,106 | 34,058,111 | ||||
Total non-current assets | 31,563,567 | 31,563,567 | 27,058,584 | ||||
Total current liabilities | 16,026,689 | 16,026,689 | 10,696,459 | ||||
Total long-term liabilities | 2,937,786 | 2,937,786 | 3,191,749 | ||||
Total equity (deficit) | 52,853,198 | 52,853,198 | 47,228,487 | ||||
Depreciation and amortization of wells, pipelines, properties, plant and equipment | 546,688 | 494,220 | 1,086,616 | 1,056,479 | |||
Depreciation of rights of use | 141,115 | (135,604) | 278,446 | 0 | |||
Interest income | 80,210 | 101,007 | 168,334 | 184,924 | |||
Interest cost | 59,622 | 38,100 | 94,061 | 79,092 | |||
Trading Companies | |||||||
Revenues: | |||||||
Trade | 125,830,318 | 73,435,364 | 237,448,242 | 136,828,605 | |||
Intersegment | 131,813,310 | 132,348,619 | 251,549,157 | 281,288,494 | |||
Services income | 413,480 | 502,541 | 909,804 | 1,012,550 | |||
Cost of sales | 255,261,210 | 203,398,658 | 481,817,572 | 409,704,279 | |||
Gross income | 2,795,898 | 2,887,866 | 8,089,631 | 9,425,370 | |||
Distribution, transportation and sale expenses | 44,547 | (25,611) | 70,287 | 54,240 | |||
Administrative expenses | 973,831 | 763,313 | 1,687,434 | 1,278,091 | |||
Other revenues | 132,892 | 150,105 | 267,312 | 363,057 | |||
Other expenses | 2,875 | 19,922 | 16,441 | 140,995 | |||
Operating income | 1,907,537 | 2,280,347 | 6,582,781 | 8,315,101 | |||
Financing income | 303,587 | 108,226 | 594,955 | 206,440 | |||
Financing cost | 1,705,639 | 1,241,563 | 3,575,805 | 2,560,933 | |||
Derivative financial instruments income (cost), net | (123,788) | (268,857) | (644,612) | (174,255) | |||
Foreign exchange (loss) income — net | (469,194) | 32,713 | (458,402) | 67,687 | |||
Profit sharing in associates | (3,405,399) | 3,121,162 | 2,011,406 | 12,703,617 | |||
Total duties, taxes and other | 1,585,992 | 335,393 | 1,528,638 | 401,312 | |||
Net (loss) income | (5,078,888) | 3,696,635 | 2,981,685 | 18,156,345 | |||
Total current assets | 284,493,604 | 284,493,604 | 235,899,424 | ||||
Total non-current assets | 110,643,895 | 110,643,895 | 101,729,105 | ||||
Total current liabilities | 225,132,362 | 225,132,362 | 182,349,198 | ||||
Total long-term liabilities | 1,355,663 | 1,355,663 | 1,247,810 | ||||
Total equity (deficit) | 168,649,474 | 168,649,474 | 154,031,521 | ||||
Depreciation and amortization of wells, pipelines, properties, plant and equipment | 68,092 | 67,644 | 136,235 | 149,289 | |||
Depreciation of rights of use | 165,334 | 60,417 | 349,543 | 122,344 | |||
Net periodic cost of employee benefits | (838) | 459 | 1,575 | 2,051 | |||
Interest income | 123,309 | 29,474 | 232,728 | 40,456 | |||
Interest cost | 1,281,389 | 1,031,926 | 2,777,427 | 2,147,091 | |||
Corporate Segment | |||||||
Revenues: | |||||||
Intersegment | 3,984,549 | 24,362,588 | 20,680,704 | 45,034,813 | |||
Services income | 229 | 225 | 439 | 457 | |||
Cost of sales | 345,972 | 315,117 | 550,181 | 460,531 | |||
Gross income | 3,638,806 | 24,047,696 | 20,130,962 | 44,574,739 | |||
Distribution, transportation and sale expenses | 105,190 | (17,883) | 90,646 | 16,959 | |||
Administrative expenses | 21,089,075 | 18,450,331 | 40,703,996 | 38,132,660 | |||
Other revenues | 94,448 | 568,126 | 154,826 | 633,924 | |||
Other expenses | 31 | 952 | 73,347 | 952 | |||
Operating income | (17,461,042) | 6,182,422 | (20,582,201) | 7,058,092 | |||
Financing income | 45,927,650 | 37,157,911 | 114,406,269 | 78,981,548 | |||
Financing cost | 56,110,727 | 50,473,637 | 109,327,911 | 103,293,487 | |||
Derivative financial instruments income (cost), net | (13,226,530) | (466,905) | (4,648,420) | (4,705,229) | |||
Foreign exchange (loss) income — net | 25,072,565 | (6,566,620) | 21,003,651 | (10,448,807) | |||
Profit sharing in associates | (248,337,275) | 39,013,523 | (260,831,141) | 113,450,915 | |||
Total duties, taxes and other | 9,179,826 | (592,463) | 8,639,331 | (1,147,993) | |||
Net (loss) income | (273,315,185) | 25,439,157 | (268,619,084) | 82,191,025 | |||
Total current assets | 2,214,708,552 | 2,214,708,552 | 1,850,711,295 | ||||
Total non-current assets | 91,047,489 | 91,047,489 | 158,576,028 | ||||
Total current liabilities | 2,229,453,577 | 2,229,453,577 | 2,071,859,608 | ||||
Total long-term liabilities | 1,681,912,232 | 1,681,912,232 | 1,590,289,886 | ||||
Total equity (deficit) | (1,605,609,768) | (1,605,609,768) | (1,652,862,171) | ||||
Depreciation and amortization of wells, pipelines, properties, plant and equipment | 141,106 | 132,626 | 284,137 | 283,832 | |||
Depreciation of rights of use | 150,632 | 147,410 | 301,264 | 294,821 | |||
Net periodic cost of employee benefits | 8,498,722 | 8,319,364 | 17,267,857 | 16,638,728 | |||
Interest income | 1,669,357 | 2,178,823 | 4,546,423 | 6,133,697 | |||
Interest cost | 34,001,347 | 32,008,505 | 64,999,656 | 64,305,915 | |||
Other Operating Subsidiary Companies | |||||||
Revenues: | |||||||
Trade | 3,312,152 | 6,308,660 | 11,922,829 | 9,983,763 | |||
Intersegment | 13,845,389 | 13,414,644 | 24,259,194 | 26,984,640 | |||
Services income | 7,153 | 7,917 | 14,203 | 27,797 | |||
Cost of sales | 13,725,122 | 17,483,960 | 30,068,714 | 32,732,333 | |||
Gross income | 3,439,572 | 2,247,261 | 6,127,512 | 4,263,867 | |||
Distribution, transportation and sale expenses | 7,598 | 19,442 | 32,711 | 40,072 | |||
Administrative expenses | 2,028,930 | 1,529,133 | 3,317,432 | 3,270,774 | |||
Other revenues | 333,101 | 725,894 | 1,110,728 | 1,907,599 | |||
Other expenses | 107,510 | 3,039 | 114,370 | 3,527 | |||
Operating income | 1,628,635 | 1,421,541 | 3,773,727 | 2,857,093 | |||
Financing income | 472,615 | 254,191 | 1,012,875 | 603,430 | |||
Financing cost | 845,777 | 619,456 | 1,416,355 | 1,205,132 | |||
Foreign exchange (loss) income — net | (419,055) | 2,268,407 | (1,535,650) | 4,348,136 | |||
Profit sharing in associates | (7,991,634) | 4,551,956 | 2,448,484 | 18,693,622 | |||
Total duties, taxes and other | 320,653 | 286,191 | 338,895 | 296,342 | |||
Net (loss) income | (7,475,869) | 7,590,448 | 3,944,186 | 25,000,807 | |||
Total current assets | 129,956,074 | 129,956,074 | 111,621,072 | ||||
Total non-current assets | 509,698,621 | 509,698,621 | 448,587,744 | ||||
Total current liabilities | 59,476,372 | 59,476,372 | 75,119,615 | ||||
Total long-term liabilities | 59,221,993 | 59,221,993 | 58,281,618 | ||||
Total equity (deficit) | 520,956,330 | 520,956,330 | $ 426,807,583 | ||||
Depreciation and amortization of wells, pipelines, properties, plant and equipment | 580,871 | 546,198 | 1,158,009 | 1,032,155 | |||
Depreciation of rights of use | 51,979 | 35,600 | 74,423 | 55,982 | |||
Net periodic cost of employee benefits | 15,399 | 11,162 | 31,314 | 23,002 | |||
Interest income | 357,094 | 147,347 | 784,037 | 365,906 | |||
Interest cost | $ 645,160 | $ 573,675 | $ 1,070,365 | $ 1,078,318 |
Revenue - Schedule of Revenue D
Revenue - Schedule of Revenue Disaggregation (Detail) - MXN ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2024 | Jun. 30, 2023 | Jun. 30, 2024 | Jun. 30, 2023 | |
Disclosure of disaggregation of revenue from contracts with customers [line items] | ||||
Total | $ 409,528,066 | $ 414,156,856 | $ 815,426,445 | $ 832,595,839 |
Products transferred at a point in time | ||||
Disclosure of disaggregation of revenue from contracts with customers [line items] | ||||
Total | 407,058,397 | 460,478,639 | 807,028,310 | 821,106,642 |
Products and services transferred over the time | ||||
Disclosure of disaggregation of revenue from contracts with customers [line items] | ||||
Total | 2,469,669 | (46,321,783) | 8,398,135 | 11,489,197 |
Crude oil | ||||
Disclosure of disaggregation of revenue from contracts with customers [line items] | ||||
Total | 82,027,914 | 112,187,272 | 173,047,283 | 212,086,474 |
Gas | ||||
Disclosure of disaggregation of revenue from contracts with customers [line items] | ||||
Total | 13,845,475 | 23,240,355 | 36,429,797 | 51,436,880 |
Refined petroleum products | ||||
Disclosure of disaggregation of revenue from contracts with customers [line items] | ||||
Total | 286,527,536 | 195,167,711 | 558,808,479 | 475,403,435 |
Other | ||||
Disclosure of disaggregation of revenue from contracts with customers [line items] | ||||
Total | 26,444,026 | 81,984,202 | 45,778,749 | 91,566,147 |
Services | ||||
Disclosure of disaggregation of revenue from contracts with customers [line items] | ||||
Total | 683,115 | 1,577,316 | 1,362,137 | 2,102,903 |
United States | ||||
Disclosure of disaggregation of revenue from contracts with customers [line items] | ||||
Total | 117,935,270 | 147,431,750 | 238,949,416 | 287,716,547 |
Other | ||||
Disclosure of disaggregation of revenue from contracts with customers [line items] | ||||
Total | 25,469,607 | 25,564,143 | 49,340,502 | 45,064,904 |
Europe | ||||
Disclosure of disaggregation of revenue from contracts with customers [line items] | ||||
Total | 19,144,609 | 20,677,314 | 43,948,592 | 36,470,535 |
Local | ||||
Disclosure of disaggregation of revenue from contracts with customers [line items] | ||||
Total | 246,978,580 | 220,483,649 | 483,187,935 | 463,343,853 |
Exploration and Production | ||||
Disclosure of disaggregation of revenue from contracts with customers [line items] | ||||
Total | 80,388,920 | 110,953,043 | 167,654,386 | 210,221,874 |
Exploration and Production | Products transferred at a point in time | ||||
Disclosure of disaggregation of revenue from contracts with customers [line items] | ||||
Total | 80,381,858 | 110,946,624 | 167,641,188 | 210,208,695 |
Exploration and Production | Products and services transferred over the time | ||||
Disclosure of disaggregation of revenue from contracts with customers [line items] | ||||
Total | 7,062 | 6,419 | 13,198 | 13,179 |
Exploration and Production | Crude oil | ||||
Disclosure of disaggregation of revenue from contracts with customers [line items] | ||||
Total | 80,356,287 | 110,912,923 | 167,581,559 | 210,131,099 |
Exploration and Production | Gas | ||||
Disclosure of disaggregation of revenue from contracts with customers [line items] | ||||
Total | 25,571 | 33,701 | 59,629 | 77,596 |
Exploration and Production | Services | ||||
Disclosure of disaggregation of revenue from contracts with customers [line items] | ||||
Total | 7,062 | 6,419 | 13,198 | 13,179 |
Exploration and Production | United States | ||||
Disclosure of disaggregation of revenue from contracts with customers [line items] | ||||
Total | 48,224,823 | 69,342,075 | 96,756,643 | 136,012,733 |
Exploration and Production | Other | ||||
Disclosure of disaggregation of revenue from contracts with customers [line items] | ||||
Total | 17,168,338 | 22,290,415 | 36,025,623 | 39,759,687 |
Exploration and Production | Europe | ||||
Disclosure of disaggregation of revenue from contracts with customers [line items] | ||||
Total | 14,963,126 | 18,818,524 | 34,799,292 | 33,896,770 |
Exploration and Production | Local | ||||
Disclosure of disaggregation of revenue from contracts with customers [line items] | ||||
Total | 32,633 | 502,029 | 72,828 | 552,684 |
Industrial Transformation | ||||
Disclosure of disaggregation of revenue from contracts with customers [line items] | ||||
Total | 163,006,359 | 178,889,860 | 321,497,210 | 391,764,574 |
Industrial Transformation | Products transferred at a point in time | ||||
Disclosure of disaggregation of revenue from contracts with customers [line items] | ||||
Total | 160,964,803 | 225,728,523 | 314,036,908 | 381,329,360 |
Industrial Transformation | Products and services transferred over the time | ||||
Disclosure of disaggregation of revenue from contracts with customers [line items] | ||||
Total | 2,041,556 | (46,838,663) | 7,460,302 | 10,435,214 |
Industrial Transformation | Gas | ||||
Disclosure of disaggregation of revenue from contracts with customers [line items] | ||||
Total | 10,779,929 | 13,975,569 | 27,504,727 | 31,648,990 |
Industrial Transformation | Refined petroleum products | ||||
Disclosure of disaggregation of revenue from contracts with customers [line items] | ||||
Total | 142,925,672 | 164,464,485 | 284,534,147 | 357,716,951 |
Industrial Transformation | Other | ||||
Disclosure of disaggregation of revenue from contracts with customers [line items] | ||||
Total | 9,171,086 | 328,284 | 9,281,667 | 2,233,988 |
Industrial Transformation | Services | ||||
Disclosure of disaggregation of revenue from contracts with customers [line items] | ||||
Total | 129,672 | 121,522 | 176,669 | 164,645 |
Industrial Transformation | Local | ||||
Disclosure of disaggregation of revenue from contracts with customers [line items] | ||||
Total | 163,006,359 | 178,889,860 | 321,497,210 | 391,764,574 |
Logistics | ||||
Disclosure of disaggregation of revenue from contracts with customers [line items] | ||||
Total | 125,330 | 938,914 | 247,635 | 884,275 |
Logistics | Products transferred at a point in time | ||||
Disclosure of disaggregation of revenue from contracts with customers [line items] | ||||
Total | 125,330 | 938,914 | 247,635 | 884,275 |
Logistics | Services | ||||
Disclosure of disaggregation of revenue from contracts with customers [line items] | ||||
Total | 125,330 | 938,914 | 247,635 | 884,275 |
Logistics | Local | ||||
Disclosure of disaggregation of revenue from contracts with customers [line items] | ||||
Total | 125,330 | 938,914 | 247,635 | 884,275 |
DPRLP | ||||
Disclosure of disaggregation of revenue from contracts with customers [line items] | ||||
Total | 36,444,125 | 43,120,332 | 75,731,697 | 81,871,944 |
DPRLP | Products transferred at a point in time | ||||
Disclosure of disaggregation of revenue from contracts with customers [line items] | ||||
Total | 36,443,936 | 43,120,554 | 75,731,508 | 81,871,944 |
DPRLP | Products and services transferred over the time | ||||
Disclosure of disaggregation of revenue from contracts with customers [line items] | ||||
Total | 189 | (222) | 189 | |
DPRLP | Gas | ||||
Disclosure of disaggregation of revenue from contracts with customers [line items] | ||||
Total | 2,439,805 | 2,439,805 | ||
DPRLP | Refined petroleum products | ||||
Disclosure of disaggregation of revenue from contracts with customers [line items] | ||||
Total | 24,604,116 | (34,383,489) | 53,347,376 | 539,640 |
DPRLP | Other | ||||
Disclosure of disaggregation of revenue from contracts with customers [line items] | ||||
Total | 11,839,820 | 75,064,238 | 22,384,132 | 78,892,499 |
DPRLP | Services | ||||
Disclosure of disaggregation of revenue from contracts with customers [line items] | ||||
Total | 189 | (222) | 189 | |
DPRLP | United States | ||||
Disclosure of disaggregation of revenue from contracts with customers [line items] | ||||
Total | 36,444,125 | 43,120,332 | 75,731,697 | 81,871,944 |
Trading Companies | ||||
Disclosure of disaggregation of revenue from contracts with customers [line items] | ||||
Total | 126,243,798 | 73,937,905 | 238,358,046 | 137,841,155 |
Trading Companies | Products transferred at a point in time | ||||
Disclosure of disaggregation of revenue from contracts with customers [line items] | ||||
Total | 125,830,318 | 73,435,364 | 237,448,242 | 136,828,605 |
Trading Companies | Products and services transferred over the time | ||||
Disclosure of disaggregation of revenue from contracts with customers [line items] | ||||
Total | 413,480 | 502,541 | 909,804 | 1,012,550 |
Trading Companies | Crude oil | ||||
Disclosure of disaggregation of revenue from contracts with customers [line items] | ||||
Total | 1,671,627 | 1,274,349 | 5,465,724 | 1,955,375 |
Trading Companies | Gas | ||||
Disclosure of disaggregation of revenue from contracts with customers [line items] | ||||
Total | 3,039,975 | 6,791,280 | 8,865,441 | 17,270,489 |
Trading Companies | Refined petroleum products | ||||
Disclosure of disaggregation of revenue from contracts with customers [line items] | ||||
Total | 118,997,748 | 65,086,715 | 220,926,956 | 117,146,844 |
Trading Companies | Other | ||||
Disclosure of disaggregation of revenue from contracts with customers [line items] | ||||
Total | 2,120,968 | 283,020 | 2,190,121 | 455,897 |
Trading Companies | Services | ||||
Disclosure of disaggregation of revenue from contracts with customers [line items] | ||||
Total | 413,480 | 502,541 | 909,804 | 1,012,550 |
Trading Companies | United States | ||||
Disclosure of disaggregation of revenue from contracts with customers [line items] | ||||
Total | 32,925,569 | 34,568,985 | 65,649,467 | 68,962,617 |
Trading Companies | Other | ||||
Disclosure of disaggregation of revenue from contracts with customers [line items] | ||||
Total | 8,191,343 | 3,245,955 | 13,092,036 | 5,264,697 |
Trading Companies | Europe | ||||
Disclosure of disaggregation of revenue from contracts with customers [line items] | ||||
Total | 4,181,483 | 1,858,790 | 9,149,300 | 2,573,765 |
Trading Companies | Local | ||||
Disclosure of disaggregation of revenue from contracts with customers [line items] | ||||
Total | 80,945,403 | 34,264,175 | 150,467,243 | 61,040,076 |
Corporate Segment | ||||
Disclosure of disaggregation of revenue from contracts with customers [line items] | ||||
Total | 229 | 225 | 439 | 457 |
Corporate Segment | Products and services transferred over the time | ||||
Disclosure of disaggregation of revenue from contracts with customers [line items] | ||||
Total | 229 | 225 | 439 | 457 |
Corporate Segment | Services | ||||
Disclosure of disaggregation of revenue from contracts with customers [line items] | ||||
Total | 229 | 225 | 439 | 457 |
Corporate Segment | Local | ||||
Disclosure of disaggregation of revenue from contracts with customers [line items] | ||||
Total | 229 | 225 | 439 | 457 |
Other Operating Subsidiary Companies | ||||
Disclosure of disaggregation of revenue from contracts with customers [line items] | ||||
Total | 3,319,305 | 6,316,577 | 11,937,032 | 10,011,560 |
Other Operating Subsidiary Companies | Products transferred at a point in time | ||||
Disclosure of disaggregation of revenue from contracts with customers [line items] | ||||
Total | 3,312,152 | 6,308,660 | 11,922,829 | 9,983,763 |
Other Operating Subsidiary Companies | Products and services transferred over the time | ||||
Disclosure of disaggregation of revenue from contracts with customers [line items] | ||||
Total | 7,153 | 7,917 | 14,203 | 27,797 |
Other Operating Subsidiary Companies | Other | ||||
Disclosure of disaggregation of revenue from contracts with customers [line items] | ||||
Total | 3,312,152 | 6,308,660 | 11,922,829 | 9,983,763 |
Other Operating Subsidiary Companies | Services | ||||
Disclosure of disaggregation of revenue from contracts with customers [line items] | ||||
Total | 7,153 | 7,917 | 14,203 | 27,797 |
Other Operating Subsidiary Companies | United States | ||||
Disclosure of disaggregation of revenue from contracts with customers [line items] | ||||
Total | 340,753 | 400,358 | 811,609 | 869,253 |
Other Operating Subsidiary Companies | Other | ||||
Disclosure of disaggregation of revenue from contracts with customers [line items] | ||||
Total | 109,926 | 27,773 | 222,843 | 40,520 |
Other Operating Subsidiary Companies | Local | ||||
Disclosure of disaggregation of revenue from contracts with customers [line items] | ||||
Total | $ 2,868,626 | $ 5,888,446 | $ 10,902,580 | $ 9,101,787 |
Revenue - Additional Informatio
Revenue - Additional Information (Detail) - MXN ($) $ in Thousands | Jun. 30, 2024 | Dec. 31, 2023 |
Disclosure of geographical areas [line items] | ||
Payment terms (in days) | 30 days | |
Sales price determination period, maximum (in months) | 2 months | |
Current receivables from contracts with customers | $ 130,341,132 | $ 111,394,431 |
Refined petroleum products | ||
Disclosure of geographical areas [line items] | ||
Invoice payment terms (in days) | 30 days | |
Gas | ||
Disclosure of geographical areas [line items] | ||
Invoice payment terms (in days) | 30 days | |
Services | ||
Disclosure of geographical areas [line items] | ||
Invoice payment terms (in days) | 22 days | |
Other | ||
Disclosure of geographical areas [line items] | ||
Invoice payment terms (in 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, 2024 | Dec. 31, 2023 | Jun. 30, 2023 | Dec. 31, 2022 |
Disclosure of detailed information about financial instruments [line items] | ||||
Cash and cash equivalents | $ 66,735,531 | $ 68,747,376 | $ 64,115,200 | $ 64,414,511 |
Customers, net | 130,341,132 | 111,394,431 | ||
Sundry debtors | 40,836,160 | 35,253,635 | ||
Investments in associates | 2,053,711 | 1,854,803 | ||
Other assets | 46,688,507 | 40,887,127 | ||
Financial liabilities measured at fair value | (36,494,962) | |||
Suppliers | (362,517,039) | (368,345,849) | ||
Accounts and accrued expenses payable | (94,738,999) | (83,646,764) | ||
Debt | (1,618,209,028) | (1,577,509,797) | ||
Derivative financial instruments | ||||
Disclosure of detailed information about financial instruments [line items] | ||||
Financial liabilities measured at fair value | (54,298,400) | |||
Derivative financial instruments | ||||
Disclosure of detailed information about financial instruments [line items] | ||||
Financial assets measured at fair value | 8,874,917 | 9,926,384 | ||
Equity instruments | ||||
Disclosure of detailed information about financial instruments [line items] | ||||
Financial assets measured at fair value | 552,355 | 552,355 | ||
Mexican Government Bonds | ||||
Disclosure of detailed information about financial instruments [line items] | ||||
Mexican Government Bonds | 52,166,173 | 62,731,992 | ||
Total carrying amount | ||||
Disclosure of detailed information about financial instruments [line items] | ||||
Financial assets measured at fair value | 9,427,272 | 10,478,739 | ||
Cash and cash equivalents | 66,735,531 | 68,747,376 | ||
Customers, net | 130,341,132 | 111,394,431 | ||
Officials and employees | 5,852,347 | 5,633,492 | ||
Sundry debtors | 40,836,160 | 35,253,635 | ||
Investments in associates | 2,053,711 | 1,854,803 | ||
Notes receivable | 995,269 | 1,179,706 | ||
Other assets | 5,347,634 | 6,109,398 | ||
Financial assets not measured at fair value | 305,455,094 | 294,305,259 | ||
Financial liabilities measured at fair value | (54,298,400) | (36,494,962) | ||
Suppliers | (362,517,039) | (368,345,849) | ||
Accounts and accrued expenses payable | (94,738,999) | (83,646,764) | ||
Leases | (45,389,051) | (41,848,333) | ||
Debt | (1,826,548,627) | (1,794,470,357) | ||
Total | (2,329,193,716) | (2,288,311,303) | ||
Total carrying amount | Other financial liabilities | ||||
Disclosure of detailed information about financial instruments [line items] | ||||
Suppliers | (362,517,039) | (368,345,849) | ||
Accounts and accrued expenses payable | (94,738,999) | (83,646,764) | ||
Leases | (45,389,051) | (41,848,333) | ||
Debt | (1,826,548,627) | (1,794,470,357) | ||
Total | (2,329,193,716) | (2,288,311,303) | ||
Total carrying amount | Derivative financial instruments | ||||
Disclosure of detailed information about financial instruments [line items] | ||||
Financial liabilities measured at fair value | (54,298,400) | (36,494,962) | ||
Total carrying amount | FVTPL | ||||
Disclosure of detailed information about financial instruments [line items] | ||||
Financial assets measured at fair value | 8,874,917 | 9,926,384 | ||
Financial liabilities measured at fair value | (54,298,400) | (36,494,962) | ||
Total carrying amount | FVTPL | Derivative financial instruments | ||||
Disclosure of detailed information about financial instruments [line items] | ||||
Financial liabilities measured at fair value | (54,298,400) | (36,494,962) | ||
Total carrying amount | FVOCI – equity instruments | ||||
Disclosure of detailed information about financial instruments [line items] | ||||
Financial assets measured at fair value | 552,355 | 552,355 | ||
Total carrying amount | Financial assets at amortized cost | ||||
Disclosure of detailed information about financial instruments [line items] | ||||
Cash and cash equivalents | 66,735,531 | 68,747,376 | ||
Customers, net | 130,341,132 | 111,394,431 | ||
Officials and employees | 5,852,347 | 5,633,492 | ||
Sundry debtors | 40,836,160 | 35,253,635 | ||
Investments in associates | 2,053,711 | 1,854,803 | ||
Notes receivable | 995,269 | 1,179,706 | ||
Other assets | 5,347,634 | 6,109,398 | ||
Financial assets not measured at fair value | 305,455,094 | 294,305,259 | ||
Total carrying amount | Derivative financial instruments | ||||
Disclosure of detailed information about financial instruments [line items] | ||||
Financial assets measured at fair value | 8,874,917 | 9,926,384 | ||
Total carrying amount | Derivative financial instruments | FVTPL | ||||
Disclosure of detailed information about financial instruments [line items] | ||||
Financial assets measured at fair value | 8,874,917 | 9,926,384 | ||
Total carrying amount | Equity instruments | ||||
Disclosure of detailed information about financial instruments [line items] | ||||
Financial assets measured at fair value | 552,355 | 552,355 | ||
Total carrying amount | Equity instruments | FVOCI – equity instruments | ||||
Disclosure of detailed information about financial instruments [line items] | ||||
Financial assets measured at fair value | 552,355 | 552,355 | ||
Total carrying amount | Mexican Government Bonds | ||||
Disclosure of detailed information about financial instruments [line items] | ||||
Mexican Government Bonds | 53,293,310 | 64,132,418 | ||
Total carrying amount | Mexican Government Bonds | Financial assets at amortized cost | ||||
Disclosure of detailed information about financial instruments [line items] | ||||
Mexican Government Bonds | 53,293,310 | 64,132,418 | ||
Level 1 | Mexican Government Bonds | ||||
Disclosure of detailed information about financial instruments [line items] | ||||
Mexican Government Bonds | 52,166,173 | 62,731,992 | ||
Level 2 | ||||
Disclosure of detailed information about financial instruments [line items] | ||||
Debt | (1,618,209,028) | (1,577,509,797) | ||
Level 2 | Derivative financial instruments | ||||
Disclosure of detailed information about financial instruments [line items] | ||||
Financial liabilities measured at fair value | (54,298,400) | (36,494,962) | ||
Level 2 | Derivative financial instruments | ||||
Disclosure of detailed information about financial instruments [line items] | ||||
Financial assets measured at fair value | 8,874,917 | 9,926,384 | ||
Level 2 | Equity instruments | ||||
Disclosure of detailed information about financial instruments [line items] | ||||
Financial assets measured at fair value | $ 552,355 | $ 552,355 |
Financial Instruments - Additio
Financial Instruments - Additional Information (Detail) $ in Thousands, $ in Thousands | 3 Months Ended | 6 Months Ended | 12 Months Ended | ||||
Jun. 30, 2024 MXN ($) | Jun. 30, 2023 MXN ($) | Jun. 30, 2024 MXN ($) | Jun. 30, 2023 MXN ($) | Dec. 31, 2023 MXN ($) | Jun. 30, 2024 USD ($) | Dec. 31, 2023 USD ($) | |
Disclosure of detailed information about financial instruments [line items] | |||||||
Derivative financial instruments income (cost), net | $ 10,064,456 | $ (2,489,947) | $ 15,783,317 | $ (2,788,339) | |||
Cash flow hedges | |||||||
Disclosure of detailed information about financial instruments [line items] | |||||||
Derivative financial instruments income (cost), net | $ (194,194) | ||||||
Financial Liabilities At Fair Value Through Other Comprehensive Income, Category | Derivative financial instruments | Cash flow hedges | |||||||
Disclosure of detailed information about financial instruments [line items] | |||||||
Financial liabilities | $ (45,423,483) | $ (26,568,577) |
Financial Instruments - Summa_2
Financial Instruments - Summary Of Portfolio of Financial Instruments Composed of Debt Instruments and DFI (Detail) $ in Thousands | Jun. 30, 2024 MXN ($) |
TIIE 28D MXN | |
Disclosure of detailed information about financial instruments [line items] | |
Debt Notional Amount | $ 191,014,074 |
DFI Notional Amount | 31,733,673 |
TIIE 91D MXN | |
Disclosure of detailed information about financial instruments [line items] | |
Debt Notional Amount | $ 13,801,317 |
Cash and Cash Equivalents - Sum
Cash and Cash Equivalents - Summary of Cash and Cash Equivalents (Detail) - MXN ($) $ in Thousands | Jun. 30, 2024 | Dec. 31, 2023 | Jun. 30, 2023 | Dec. 31, 2022 |
Cash and cash equivalents [abstract] | ||||
Cash on hand and in banks | $ 45,387,244 | $ 45,728,321 | ||
Highly liquid investments | 21,348,287 | 23,019,055 | ||
Cash and cash equivalents | $ 66,735,531 | $ 68,747,376 | $ 64,115,200 | $ 64,414,511 |
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, 2024 | Dec. 31, 2023 |
Trade and Other Receivables [Line Items] | ||
Total customers, net | $ 130,341,132 | $ 111,394,431 |
Domestic customers, net | ||
Trade and Other Receivables [Line Items] | ||
Total customers, net | 88,799,646 | 79,069,658 |
Export customers, net | ||
Trade and Other Receivables [Line Items] | ||
Total customers, net | $ 41,541,486 | $ 32,324,773 |
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, 2024 | Dec. 31, 2023 |
Financial assets: | ||
Sundry debtors | $ 40,836,160 | $ 35,253,635 |
Employees and officers | 5,852,347 | 5,633,492 |
Total financial assets | 46,688,507 | 40,887,127 |
Non-financial assets: | ||
Taxes to be recovered and prepaid taxes | 69,013,916 | 155,336,028 |
Special Tax on Production and Services | 6,313,278 | 2,603,657 |
Other accounts receivable | 3,616,062 | 5,139,993 |
Total non-financial assets | $ 78,943,256 | $ 163,079,678 |
Customers and Other Financing_5
Customers and Other Financing and Non-Financing Accounts Receivable - Additional Information (Detail) - MXN ($) $ in Thousands | Jun. 30, 2024 | Dec. 31, 2023 |
Trade and other receivables [abstract] | ||
Financing receivable, individually evaluated for impairment | $ (898,072) | $ (827,739) |
Inventories - Summary of Invent
Inventories - Summary of Inventories (Detail) - MXN ($) $ in Thousands | Jun. 30, 2024 | Dec. 31, 2023 |
Disclosure of Inventories [Line Items] | ||
Inventories | $ 103,558,205 | $ 112,035,992 |
Refined and petrochemicals products | ||
Disclosure of Inventories [Line Items] | ||
Inventories | 45,560,793 | 51,455,826 |
Crude oil | ||
Disclosure of Inventories [Line Items] | ||
Inventories | 28,227,592 | 28,428,427 |
Products in transit | ||
Disclosure of Inventories [Line Items] | ||
Inventories | 22,955,930 | 25,510,618 |
Materials and products in stock | ||
Disclosure of Inventories [Line Items] | ||
Inventories | 6,640,238 | 5,870,013 |
Gas and condensate products | ||
Disclosure of Inventories [Line Items] | ||
Inventories | 149,592 | 160,180 |
Materials in transit | ||
Disclosure of Inventories [Line Items] | ||
Inventories | $ 24,060 | $ 610,928 |
Investments in Associates - Sch
Investments in Associates - Schedule of Investments in Joint Ventures and Associates (Detail) - MXN ($) $ in Thousands | 6 Months Ended | |
Jun. 30, 2024 | Dec. 31, 2023 | |
Disclosure of Investments in Subsidiaries Joint Ventures and Associates [Line items] | ||
Investments in associates | $ 2,053,711 | $ 1,854,803 |
Sierrita Gas Pipeline LLC | ||
Disclosure of Investments in Subsidiaries Joint Ventures and Associates [Line items] | ||
Percentage of investment | 3,500% | |
Investments in associates | $ 877,307 | 879,616 |
Frontera Brownsville, LLC. | ||
Disclosure of Investments in Subsidiaries Joint Ventures and Associates [Line items] | ||
Percentage of investment | 5,000% | |
Investments in associates | $ 381,253 | 354,691 |
Administración del Sistema Portuario Nacional Dos Bocas, S. A. de C.V. | ||
Disclosure of Investments in Subsidiaries Joint Ventures and Associates [Line items] | ||
Percentage of investment | 4,000% | |
Investments in associates | $ 226,606 | 74,529 |
Texas Frontera, LLC. | ||
Disclosure of Investments in Subsidiaries Joint Ventures and Associates [Line items] | ||
Percentage of investment | 5,000% | |
Investments in associates | $ 204,788 | 178,421 |
Other, net | ||
Disclosure of Investments in Subsidiaries Joint Ventures and Associates [Line items] | ||
Investments in associates | $ 198,668 | 183,898 |
CH4 Energía, S. A. de C.V. | ||
Disclosure of Investments in Subsidiaries Joint Ventures and Associates [Line items] | ||
Percentage of investment | 5,000% | |
Investments in associates | $ 165,089 | $ 183,648 |
Investments in Associates - S_2
Investments in Associates - Schedule (Loss) profit Sharing in Joint Ventures and Associates (Detail) - MXN ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2024 | Jun. 30, 2023 | Jun. 30, 2024 | Jun. 30, 2023 | |
Disclosure of Investments in Associates and Other [Line Items] | ||||
Profit sharing in associates | $ 234,319 | $ 42,013 | $ 265,216 | $ 151,969 |
Administración del Sistema Portuario Nacional Dos Bocas, S. A. de C.V. | ||||
Disclosure of Investments in Associates and Other [Line Items] | ||||
Profit sharing in associates | 138,860 | (9,042) | 152,078 | 21,256 |
Sierrita Gas Pipeline LLC | ||||
Disclosure of Investments in Associates and Other [Line Items] | ||||
Profit sharing in associates | 42,092 | (778) | 42,092 | 28,753 |
Other, net | ||||
Disclosure of Investments in Associates and Other [Line Items] | ||||
Profit sharing in associates | 34,707 | 20,729 | 34,707 | 46,128 |
CH4 Energía, S. A. de C.V. | ||||
Disclosure of Investments in Associates and Other [Line Items] | ||||
Profit sharing in associates | 9,024 | 11,049 | 21,441 | 22,970 |
Texas Frontera, LLC. | ||||
Disclosure of Investments in Associates and Other [Line Items] | ||||
Profit sharing in associates | 9,812 | 19,351 | 17,304 | 31,239 |
Ductos el Peninsular, S. A. P. I. de C. V. | ||||
Disclosure of Investments in Associates and Other [Line Items] | ||||
Profit sharing in associates | 1,024 | 0 | 1,024 | 0 |
Frontera Brownsville, LLC. | ||||
Disclosure of Investments in Associates and Other [Line Items] | ||||
Profit sharing in associates | $ (1,200) | $ 704 | $ (3,430) | $ 1,623 |
Investments in Associates - Add
Investments in Associates - Additional Information (Details) - Texas Frontera, LLC. | Jul. 27, 2010 tank Barrels |
Disclosure of Investments in Associates and Other [Line Items] | |
Number of tanks | tank | 7 |
Number of barrels in each tanks | Barrels | 120,000 |
PMI SUS | |
Disclosure of Investments in Associates and Other [Line Items] | |
Acquired percentage | 50% |
Wells, Pipelines, Properties,_3
Wells, Pipelines, Properties, Plant and Equipment, Net - Property, Plant and Equipment (Detail) - MXN ($) $ in Thousands | 3 Months Ended | 6 Months Ended | 12 Months Ended | ||
Jun. 30, 2024 | Jun. 30, 2023 | Jun. 30, 2024 | Jun. 30, 2023 | Dec. 31, 2023 | |
Disclosure of detailed information about property, plant and equipment [line items] | |||||
Beginning balance | $ 1,482,322,166 | ||||
Translation effect | 21,376,880 | $ (37,151,380) | |||
Ending balance | $ 1,537,151,854 | $ 1,331,419,805 | 1,537,151,854 | 1,331,419,805 | $ 1,482,322,166 |
Depreciation and amortization expense | 74,258,629 | 56,791,178 | |||
Plugging and abandonment cost | 91,114 | 30,330 | |||
Provisions for plugging wells | 69,121,263 | 69,121,263 | 61,117,106 | ||
(Impairment) of wells, pipelines, properties, plant and equipment, net | (9,903,148) | (25,947,103) | (17,548,991) | (66,084,491) | |
Investment | |||||
Disclosure of detailed information about property, plant and equipment [line items] | |||||
Beginning balance | 4,395,700,057 | 4,150,256,095 | 4,150,256,095 | ||
Acquisitions | 128,898,780 | 126,150,950 | 328,166,052 | ||
Reclassifications | 2,088,430 | 3,221,420 | 7,232,760 | ||
Capitalization | 0 | 0 | 0 | ||
Disposals | (5,094,550) | (5,100,500) | (38,022,820) | ||
Translation effect | 27,506,970 | (47,405,890) | (51,932,030) | ||
Ending balance | 4,549,099,687 | 4,227,122,075 | 4,549,099,687 | 4,227,122,075 | 4,395,700,057 |
Accumulated depreciation and amortization | |||||
Disclosure of detailed information about property, plant and equipment [line items] | |||||
Beginning balance | (2,913,377,891) | (2,781,505,245) | (2,781,505,245) | ||
Depreciation and amortization | (74,258,629) | (56,791,178) | (137,555,276) | ||
Reclassifications | (2,088,430) | (3,221,420) | (7,232,760) | ||
(Impairment) | (53,816,596) | (80,931,691) | (153,980,236) | ||
Reversal of impairment | 36,267,605 | 14,847,200 | 125,182,718 | ||
Disposals | 1,456,198 | 1,645,554 | 30,512,248 | ||
Translation effect | (6,130,090) | 10,254,510 | 11,200,660 | ||
Ending balance | (3,011,947,833) | (2,895,702,270) | (3,011,947,833) | (2,895,702,270) | (2,913,377,891) |
Plants | |||||
Disclosure of detailed information about property, plant and equipment [line items] | |||||
Beginning balance | 285,434,820 | ||||
Ending balance | 264,450,149 | 246,139,276 | 264,450,149 | 246,139,276 | 285,434,820 |
Plants | Investment | |||||
Disclosure of detailed information about property, plant and equipment [line items] | |||||
Beginning balance | 1,070,987,449 | 1,053,836,879 | 1,053,836,879 | ||
Acquisitions | 4,184,350 | 7,406,760 | 24,218,720 | ||
Reclassifications | 596,770 | 412,300 | 3,396,480 | ||
Capitalization | 15,917,040 | 6,420,470 | 15,580,570 | ||
Disposals | (552,510) | (619,260) | (8,316,930) | ||
Translation effect | 10,789,180 | (16,417,790) | (17,728,270) | ||
Ending balance | 1,101,922,279 | 1,051,039,359 | 1,101,922,279 | 1,051,039,359 | 1,070,987,449 |
Plants | Accumulated depreciation and amortization | |||||
Disclosure of detailed information about property, plant and equipment [line items] | |||||
Beginning balance | (785,552,629) | (789,443,853) | (789,443,853) | ||
Depreciation and amortization | (16,226,649) | (16,425,970) | (33,219,850) | ||
Reclassifications | (117,840) | (405,220) | 45,407,770 | ||
(Impairment) | (37,860,556) | (17,687,630) | (45,202,986) | ||
Reversal of impairment | 8,301,490 | 9,514,200 | 19,244,900 | ||
Disposals | 437,904 | 222,630 | 7,510,670 | ||
Translation effect | (6,453,850) | 9,325,760 | 10,150,720 | ||
Ending balance | (837,472,130) | (804,900,083) | $ (837,472,130) | (804,900,083) | (785,552,629) |
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] | |||||
Beginning balance | $ 12,017,211 | ||||
Ending balance | 15,658,691 | 9,682,171 | $ 15,658,691 | 9,682,171 | 12,017,211 |
Depreciation rates | 5% | ||||
Estimated useful lives | 20 years | ||||
Drilling equipment | Investment | |||||
Disclosure of detailed information about property, plant and equipment [line items] | |||||
Beginning balance | $ 18,913,795 | 14,840,995 | 14,840,995 | ||
Acquisitions | 3,992,350 | 2,130,670 | 5,271,100 | ||
Reclassifications | 0 | 0 | 0 | ||
Capitalization | 0 | 0 | 0 | ||
Disposals | 0 | (511,310) | (1,198,300) | ||
Translation effect | 0 | 0 | 0 | ||
Ending balance | 22,906,145 | 16,460,355 | 22,906,145 | 16,460,355 | 18,913,795 |
Drilling equipment | Accumulated depreciation and amortization | |||||
Disclosure of detailed information about property, plant and equipment [line items] | |||||
Beginning balance | (6,896,584) | (6,593,644) | (6,593,644) | ||
Depreciation and amortization | (350,870) | (403,660) | (714,350) | ||
Reclassifications | 0 | 0 | 0 | ||
(Impairment) | 0 | 0 | 0 | ||
Reversal of impairment | 0 | 0 | 0 | ||
Disposals | 0 | 219,120 | 411,410 | ||
Translation effect | 0 | 0 | 0 | ||
Ending balance | (7,247,454) | (6,778,184) | (7,247,454) | (6,778,184) | (6,896,584) |
Pipelines | |||||
Disclosure of detailed information about property, plant and equipment [line items] | |||||
Beginning balance | 182,581,787 | ||||
Ending balance | 177,663,067 | 224,414,777 | 177,663,067 | 224,414,777 | 182,581,787 |
Pipelines | Investment | |||||
Disclosure of detailed information about property, plant and equipment [line items] | |||||
Beginning balance | 491,444,562 | 493,683,632 | 493,683,632 | ||
Acquisitions | 2,495,830 | 651,070 | 4,266,300 | ||
Reclassifications | 488,180 | 103,360 | 103,670 | ||
Capitalization | 219,830 | 6,050,860 | 15,121,590 | ||
Disposals | (990) | (130,210) | (21,457,210) | ||
Translation effect | (827,820) | (195,880) | (273,420) | ||
Ending balance | 493,819,592 | 500,162,832 | 493,819,592 | 500,162,832 | 491,444,562 |
Pipelines | Accumulated depreciation and amortization | |||||
Disclosure of detailed information about property, plant and equipment [line items] | |||||
Beginning balance | (308,862,775) | (264,441,515) | (264,441,515) | ||
Depreciation and amortization | (5,582,490) | (6,395,380) | (12,824,020) | ||
Reclassifications | (488,180) | (103,360) | (46,118,320) | ||
(Impairment) | (4,202,050) | (5,426,790) | (22,452,490) | ||
Reversal of impairment | 2,143,360 | 329,110 | 18,153,170 | ||
Disposals | 970 | 109,680 | 18,624,270 | ||
Translation effect | 834,640 | 180,200 | 196,130 | ||
Ending balance | (316,156,525) | (275,748,055) | $ (316,156,525) | (275,748,055) | (308,862,775) |
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] | |||||
Beginning balance | $ 353,323,631 | ||||
Ending balance | 372,434,941 | 329,598,041 | 372,434,941 | 329,598,041 | 353,323,631 |
Wells | Investment | |||||
Disclosure of detailed information about property, plant and equipment [line items] | |||||
Beginning balance | 1,695,212,594 | 1,586,407,714 | 1,586,407,714 | ||
Acquisitions | 23,945,850 | 14,987,680 | 36,368,940 | ||
Reclassifications | 1,148,690 | 2,967,760 | 2,967,760 | ||
Capitalization | 30,853,870 | 46,219,390 | 71,789,810 | ||
Disposals | 0 | (1,094,130) | (2,321,630) | ||
Translation effect | 0 | 0 | 0 | ||
Ending balance | 1,751,161,004 | 1,649,488,414 | 1,751,161,004 | 1,649,488,414 | 1,695,212,594 |
Wells | Accumulated depreciation and amortization | |||||
Disclosure of detailed information about property, plant and equipment [line items] | |||||
Beginning balance | (1,341,888,963) | (1,260,106,083) | (1,260,106,083) | ||
Depreciation and amortization | (42,484,220) | (25,684,940) | (73,618,580) | ||
Reclassifications | (1,148,790) | (2,989,670) | (6,926,040) | ||
(Impairment) | (7,932,150) | (32,382,700) | (55,380,990) | ||
Reversal of impairment | 14,728,060 | 532,450 | 52,926,380 | ||
Disposals | 0 | 740,570 | 1,216,350 | ||
Translation effect | 0 | 0 | 0 | ||
Ending balance | (1,378,726,063) | (1,319,890,373) | (1,378,726,063) | (1,319,890,373) | (1,341,888,963) |
Buildings | |||||
Disclosure of detailed information about property, plant and equipment [line items] | |||||
Beginning balance | 25,387,796 | ||||
Ending balance | 25,910,916 | 24,836,896 | 25,910,916 | 24,836,896 | 25,387,796 |
Buildings | Investment | |||||
Disclosure of detailed information about property, plant and equipment [line items] | |||||
Beginning balance | 73,956,002 | 73,865,712 | 73,865,712 | ||
Acquisitions | 6,970 | 6,740 | 24,280 | ||
Reclassifications | 51,250 | (176,590) | (197,220) | ||
Capitalization | 906,090 | 246,960 | 1,739,570 | ||
Disposals | (13,500) | (49,390) | (52,680) | ||
Translation effect | 865,680 | (1,222,840) | (1,423,660) | ||
Ending balance | 75,772,492 | 72,670,592 | 75,772,492 | 72,670,592 | 73,956,002 |
Buildings | Accumulated depreciation and amortization | |||||
Disclosure of detailed information about property, plant and equipment [line items] | |||||
Beginning balance | (48,568,206) | (47,796,496) | (47,796,496) | ||
Depreciation and amortization | (876,000) | (956,350) | (1,858,330) | ||
Reclassifications | (18,750) | 309,120 | 327,930 | ||
(Impairment) | 0 | 0 | 0 | ||
Reversal of impairment | 0 | 0 | 23,570 | ||
Disposals | 6,200 | 0 | 41,730 | ||
Translation effect | (404,820) | 610,030 | 693,390 | ||
Ending balance | (49,861,576) | (47,833,696) | $ (49,861,576) | (47,833,696) | (48,568,206) |
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] | |||||
Beginning balance | $ 124,426,910 | ||||
Ending balance | 120,027,520 | 100,869,250 | $ 120,027,520 | 100,869,250 | 124,426,910 |
Depreciation rates | 4% | ||||
Estimated useful lives | 25 years | ||||
Offshore platforms | Investment | |||||
Disclosure of detailed information about property, plant and equipment [line items] | |||||
Beginning balance | $ 425,259,020 | 420,363,210 | 420,363,210 | ||
Acquisitions | 34,420 | 773,510 | 2,164,860 | ||
Reclassifications | (550,380) | 0 | (2,648,540) | ||
Capitalization | 0 | 4,491,700 | 7,966,840 | ||
Disposals | 0 | 0 | (2,587,350) | ||
Translation effect | 0 | 0 | 0 | ||
Ending balance | 424,743,060 | 425,628,420 | 424,743,060 | 425,628,420 | 425,259,020 |
Offshore platforms | Accumulated depreciation and amortization | |||||
Disclosure of detailed information about property, plant and equipment [line items] | |||||
Beginning balance | (300,832,110) | (294,192,090) | (294,192,090) | ||
Depreciation and amortization | (7,073,410) | (5,500,690) | (12,164,310) | ||
Reclassifications | 46,270 | 0 | 109,160 | ||
(Impairment) | (2,393,760) | (25,066,390) | (26,134,930) | ||
Reversal of impairment | 5,537,470 | 0 | 29,485,650 | ||
Disposals | 0 | 0 | 2,064,410 | ||
Translation effect | 0 | 0 | 0 | ||
Ending balance | (304,715,540) | (324,759,170) | (304,715,540) | (324,759,170) | (300,832,110) |
Furniture and equipment | |||||
Disclosure of detailed information about property, plant and equipment [line items] | |||||
Beginning balance | 6,610,224 | ||||
Ending balance | 7,075,504 | 5,396,454 | 7,075,504 | 5,396,454 | 6,610,224 |
Furniture and equipment | Investment | |||||
Disclosure of detailed information about property, plant and equipment [line items] | |||||
Beginning balance | 53,545,137 | 50,809,657 | 50,809,657 | ||
Acquisitions | 876,130 | 839,640 | 2,564,910 | ||
Reclassifications | 309,580 | 39,610 | (246,280) | ||
Capitalization | 292,640 | 456,050 | 1,119,100 | ||
Disposals | (883,250) | (371,460) | (611,940) | ||
Translation effect | 66,190 | (83,550) | (90,310) | ||
Ending balance | 54,206,427 | 51,689,947 | 54,206,427 | 51,689,947 | 53,545,137 |
Furniture and equipment | Accumulated depreciation and amortization | |||||
Disclosure of detailed information about property, plant and equipment [line items] | |||||
Beginning balance | (46,934,913) | (45,932,403) | (45,932,403) | ||
Depreciation and amortization | (797,140) | (728,730) | (1,645,720) | ||
Reclassifications | (309,430) | (32,350) | (12,330) | ||
(Impairment) | 0 | 0 | 0 | ||
Reversal of impairment | 62,440 | 0 | 10,100 | ||
Disposals | 880,180 | 349,170 | 587,800 | ||
Translation effect | (32,060) | 50,820 | 57,640 | ||
Ending balance | (47,130,923) | (46,293,493) | $ (47,130,923) | (46,293,493) | (46,934,913) |
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] | |||||
Beginning balance | $ 16,080,145 | ||||
Ending balance | 15,840,339 | 14,695,051 | 15,840,339 | 14,695,051 | 16,080,145 |
Transportation equipment | Investment | |||||
Disclosure of detailed information about property, plant and equipment [line items] | |||||
Beginning balance | 32,988,437 | 29,297,417 | 29,297,417 | ||
Acquisitions | 429,130 | 2,162,760 | 3,447,500 | ||
Reclassifications | 51,810 | (60) | 1,000 | ||
Capitalization | 26,830 | 38,040 | 883,390 | ||
Disposals | (209,220) | (13,330) | (78,490) | ||
Translation effect | 324,360 | (522,430) | (562,380) | ||
Ending balance | 33,611,347 | 30,962,397 | 33,611,347 | 30,962,397 | 32,988,437 |
Transportation equipment | Accumulated depreciation and amortization | |||||
Disclosure of detailed information about property, plant and equipment [line items] | |||||
Beginning balance | (16,908,292) | (15,664,032) | (15,664,032) | ||
Depreciation and amortization | (867,850) | (695,458) | (1,510,116) | ||
Reclassifications | (51,810) | 60 | 74,390 | ||
(Impairment) | 0 | 0 | 0 | ||
Reversal of impairment | 0 | 0 | 33,078 | ||
Disposals | 130,944 | 4,384 | 55,608 | ||
Translation effect | (74,000) | 87,700 | 102,780 | ||
Ending balance | (17,771,008) | (16,267,346) | $ (17,771,008) | (16,267,346) | (16,908,292) |
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] | |||||
Beginning balance | $ 423,571,347 | ||||
Ending balance | 484,983,562 | 322,826,544 | 484,983,562 | 322,826,544 | 423,571,347 |
Construction in progress | Investment | |||||
Disclosure of detailed information about property, plant and equipment [line items] | |||||
Beginning balance | 480,504,766 | 374,025,584 | 374,025,584 | ||
Acquisitions | 92,933,750 | 97,051,190 | 249,698,512 | ||
Reclassifications | (7,470) | (124,960) | 3,855,890 | ||
Capitalization | (48,243,720) | (63,923,470) | (114,200,870) | ||
Disposals | (3,430,000) | (2,310,810) | (1,360,990) | ||
Translation effect | 16,092,850 | (28,659,120) | (31,513,360) | ||
Ending balance | 537,850,176 | 376,058,414 | 537,850,176 | 376,058,414 | 480,504,766 |
Construction in progress | Accumulated depreciation and amortization | |||||
Disclosure of detailed information about property, plant and equipment [line items] | |||||
Beginning balance | (56,933,419) | (57,335,129) | (57,335,129) | ||
Depreciation and amortization | 0 | 0 | 0 | ||
Reclassifications | 100 | 0 | (95,320) | ||
(Impairment) | (1,428,080) | (368,181) | (4,808,840) | ||
Reversal of impairment | 5,494,785 | 4,471,440 | 5,305,870 | ||
Disposals | 0 | 0 | 0 | ||
Translation effect | 0 | 0 | 0 | ||
Ending balance | (52,866,614) | (53,231,870) | (52,866,614) | (53,231,870) | (56,933,419) |
Land | |||||
Disclosure of detailed information about property, plant and equipment [line items] | |||||
Beginning balance | 52,888,295 | ||||
Ending balance | 53,107,165 | 52,961,345 | 53,107,165 | 52,961,345 | 52,888,295 |
Land | Investment | |||||
Disclosure of detailed information about property, plant and equipment [line items] | |||||
Beginning balance | 52,888,295 | 53,125,295 | 53,125,295 | ||
Acquisitions | 0 | 140,930 | 140,930 | ||
Reclassifications | 0 | 0 | 0 | ||
Capitalization | 27,420 | 0 | 0 | ||
Disposals | (5,080) | (600) | (37,300) | ||
Translation effect | 196,530 | (304,280) | (340,630) | ||
Ending balance | 53,107,165 | 52,961,345 | 53,107,165 | 52,961,345 | 52,888,295 |
Land | Accumulated depreciation and amortization | |||||
Disclosure of detailed information about property, plant and equipment [line items] | |||||
Beginning balance | 0 | 0 | 0 | ||
Depreciation and amortization | 0 | 0 | 0 | ||
Reclassifications | 0 | 0 | 0 | ||
(Impairment) | 0 | 0 | 0 | ||
Reversal of impairment | 0 | 0 | 0 | ||
Disposals | 0 | 0 | 0 | ||
Translation effect | 0 | 0 | 0 | ||
Ending balance | $ 0 | $ 0 | 0 | 0 | $ 0 |
Pemex Exploration and Production | |||||
Disclosure of detailed information about property, plant and equipment [line items] | |||||
Financing cost | $ 4,767,020 | $ 2,389,748 | |||
Pemex Exploration and Production | Bottom of range | |||||
Disclosure of detailed information about property, plant and equipment [line items] | |||||
Financing costs rates | 7.82% | 6.47% | |||
Pemex Exploration and Production | Top of range | |||||
Disclosure of detailed information about property, plant and equipment [line items] | |||||
Financing costs rates | 18.68% | 7.54% |
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, 2024 | Jun. 30, 2023 | Jun. 30, 2024 | Jun. 30, 2023 | |
Disclosure of detailed information about property, plant and equipment [line items] | ||||
(Impairment) of wells, pipelines, properties, plant and equipment, net | $ (9,903,148) | $ (25,947,103) | $ (17,548,991) | $ (66,084,491) |
Pemex Industrial Transformation | ||||
Disclosure of detailed information about property, plant and equipment [line items] | ||||
(Impairment) of wells, pipelines, properties, plant and equipment, net | (36,392,092) | (6,548,396) | ||
Pemex Logistics | ||||
Disclosure of detailed information about property, plant and equipment [line items] | ||||
(Impairment) of wells, pipelines, properties, plant and equipment, net | (171,830) | 0 | ||
Pemex Exploration and Production | ||||
Disclosure of detailed information about property, plant and equipment [line items] | ||||
(Impairment) of wells, pipelines, properties, plant and equipment, net | $ 19,014,931 | $ (59,536,095) |
Wells, Pipelines, Properties,_5
Wells, Pipelines, Properties, Plant and Equipment, Net - Additional Information (Detail) $ in Thousands | 3 Months Ended | 6 Months Ended | 12 Months Ended | ||
Jun. 30, 2024 MXN ($) billionBarrels | Jun. 30, 2024 MXN ($) Exchange_Rate billionBarrels | Jun. 30, 2023 MXN ($) Exchange_Rate billionBarrels | Dec. 31, 2023 Exchange_Rate | Dec. 31, 2022 Exchange_Rate | |
Pemex Exploration and Production | |||||
Disclosure of detailed information about property, plant and equipment [line items] | |||||
Total | $ 19,014,931 | $ 19,014,931 | $ (59,536,095) | ||
Negative effect from decrease in production | 83,067,440 | ||||
Positive effect due to increase decrease in discount rate | $ 37,235,627 | $ 13,119,343 | |||
Pre-tax discount rate | 10.44% | 10.42% | 9.93% | 9.31% | |
Positive effect from increase in crude oil prices | $ 44,797,611 | $ 42,858,913 | |||
Positive tax effect due to lower income in reserves | 11,496,977 | ||||
Positive effect due to lower freight and distribution costs | $ 11,465,783 | $ 2,207,404 | |||
Useful life | 25 years | 25 years | |||
Production forecast | billionBarrels | 6,682,000 | 6,682,000 | 6,685,000 | ||
Positive Tax Effect | $ 23,439,232 | ||||
Pemex Industrial Transformation | |||||
Disclosure of detailed information about property, plant and equipment [line items] | |||||
Total | $ (36,392,092) | (6,548,396) | |||
Average foreign exchange rate | 19.4143 | ||||
Pemex Exploration and Production | |||||
Disclosure of detailed information about property, plant and equipment [line items] | |||||
Exchange rate effect amount | $ 18,466,156 | $ 31,854,861 | |||
Average foreign exchange rate | Exchange_Rate | 18.3773 | 17.072 | 16.922 | 19.4143 | |
Refining | Pemex Industrial Transformation | |||||
Disclosure of detailed information about property, plant and equipment [line items] | |||||
Average foreign exchange rate | Exchange_Rate | 18.3773 | 17.072 | 16.922 | ||
Pre-tax discount rate | 1,450% | 1,410% | |||
Increase in discount rate percentage | 14.50% | 13.68% | |||
Percentage of decrease in discount rate | 14.10% | 14.16% | |||
Gas | Pemex Industrial Transformation | |||||
Disclosure of detailed information about property, plant and equipment [line items] | |||||
Average foreign exchange rate | Exchange_Rate | 18.3773 | 17.072 | |||
Pre-tax discount rate | 1,412% | 1,326% | |||
Petrochemicals | Pemex Industrial Transformation | |||||
Disclosure of detailed information about property, plant and equipment [line items] | |||||
Average foreign exchange rate | Exchange_Rate | 18.3773 | 17.072 | |||
Pre-tax discount rate | 1,085% | 1,046% | |||
Ethylene | Pemex Industrial Transformation | |||||
Disclosure of detailed information about property, plant and equipment [line items] | |||||
Average foreign exchange rate | Exchange_Rate | 18.3773 | 17.072 | |||
Pre-tax discount rate | 1,085% | 1,046% |
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 | 3 Months Ended | 6 Months Ended | |
Jun. 30, 2024 | Jun. 30, 2024 | Jun. 30, 2023 | |
Disclosure of information for impairment loss recognised or reversed for individual asset or cash-generating unit [line items] | |||
Total | $ 19,014,931 | $ 19,014,931 | $ (59,536,095) |
Cantarell | |||
Disclosure of information for impairment loss recognised or reversed for individual asset or cash-generating unit [line items] | |||
Total | 15,095,434 | (2,851,694) | |
Aceite Terciario del Golfo | |||
Disclosure of information for impairment loss recognised or reversed for individual asset or cash-generating unit [line items] | |||
Total | 7,032,771 | (6,634,837) | |
Lakach | |||
Disclosure of information for impairment loss recognised or reversed for individual asset or cash-generating unit [line items] | |||
Total | 2,845,690 | 2,905,272 | |
Ayin Alux | |||
Disclosure of information for impairment loss recognised or reversed for individual asset or cash-generating unit [line items] | |||
Total | 2,516,348 | 0 | |
Tamaulipas Constituciones | |||
Disclosure of information for impairment loss recognised or reversed for individual asset or cash-generating unit [line items] | |||
Total | 1,665,580 | (742,705) | |
Arenque | |||
Disclosure of information for impairment loss recognised or reversed for individual asset or cash-generating unit [line items] | |||
Total | 1,185,779 | (528,440) | |
Burgos | |||
Disclosure of information for impairment loss recognised or reversed for individual asset or cash-generating unit [line items] | |||
Total | 546,186 | (5,995,860) | |
Antonio J. Bermúdez | |||
Disclosure of information for impairment loss recognised or reversed for individual asset or cash-generating unit [line items] | |||
Total | 385,159 | (1,139,810) | |
Poza Rica | |||
Disclosure of information for impairment loss recognised or reversed for individual asset or cash-generating unit [line items] | |||
Total | 108,370 | (751,664) | |
Cuenca Macuspana | |||
Disclosure of information for impairment loss recognised or reversed for individual asset or cash-generating unit [line items] | |||
Total | 35,600 | (70,075) | |
Cárdenas Mora CEE | |||
Disclosure of information for impairment loss recognised or reversed for individual asset or cash-generating unit [line items] | |||
Total | 0 | 3,805 | |
Chuc | |||
Disclosure of information for impairment loss recognised or reversed for individual asset or cash-generating unit [line items] | |||
Total | 0 | (19,216,570) | |
Crudo Ligero Marino | |||
Disclosure of information for impairment loss recognised or reversed for individual asset or cash-generating unit [line items] | |||
Total | 0 | (7,863,676) | |
Ixtal - Manik | |||
Disclosure of information for impairment loss recognised or reversed for individual asset or cash-generating unit [line items] | |||
Total | 0 | (4,837,174) | |
Santuario CEE | |||
Disclosure of information for impairment loss recognised or reversed for individual asset or cash-generating unit [line items] | |||
Total | 0 | (112,355) | |
Misión CEE | |||
Disclosure of information for impairment loss recognised or reversed for individual asset or cash-generating unit [line items] | |||
Total | (78,381) | (28,177) | |
Ogarrio Magallanes | |||
Disclosure of information for impairment loss recognised or reversed for individual asset or cash-generating unit [line items] | |||
Total | (3,939,798) | (6,448,126) | |
Tsimin Xux | |||
Disclosure of information for impairment loss recognised or reversed for individual asset or cash-generating unit [line items] | |||
Total | $ (8,383,807) | $ (5,224,009) |
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, 2024 | Jun. 30, 2023 | |
Disclosure of significant unobservable inputs used in fair value measurement of assets [line items] | ||
Average crude oil price | $ 65.81 | $ 61.72 |
Average gas price | 4.92 | 4.96 |
Average condensates price | $ 74.92 | $ 67.57 |
After-tax discount rate | 10.44% | 10.42% |
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, 2024 | Jun. 30, 2023 | |
Disclosure of information for impairment loss recognised or reversed for individual asset or cash-generating unit [line items] | ||
Total | $ 182,422,817 | $ 162,110,173 |
Pemex Exploration and Production | ||
Disclosure of information for impairment loss recognised or reversed for individual asset or cash-generating unit [line items] | ||
Total | 285,867,370 | 180,298,972 |
Pemex Exploration and Production | Chuc | ||
Disclosure of information for impairment loss recognised or reversed for individual asset or cash-generating unit [line items] | ||
Total | 62,681,511 | 36,565,512 |
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 | 34,325,751 | 37,276,319 |
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 | 33,518,405 | 17,206,881 |
Pemex Exploration and Production | Cantarell | ||
Disclosure of information for impairment loss recognised or reversed for individual asset or cash-generating unit [line items] | ||
Total | 33,149,103 | 0 |
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 | 28,348,410 | 24,027,128 |
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 | 25,737,767 | 8,654,361 |
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 | 24,453,758 | 27,851,730 |
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 | 13,840,302 | 6,472,463 |
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 | 6,716,573 | 5,500,551 |
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 | 6,024,454 | 1,931,129 |
Pemex Exploration and Production | Ayin Alux | ||
Disclosure of information for impairment loss recognised or reversed for individual asset or cash-generating unit [line items] | ||
Total | 4,955,853 | 0 |
Pemex Exploration and Production | Lakach | ||
Disclosure of information for impairment loss recognised or reversed for individual asset or cash-generating unit [line items] | ||
Total | 4,086,521 | 3,328,644 |
Pemex Exploration and Production | Burgos | ||
Disclosure of information for impairment loss recognised or reversed for individual asset or cash-generating unit [line items] | ||
Total | 3,776,739 | 7,399,377 |
Pemex Exploration and Production | Arenque | ||
Disclosure of information for impairment loss recognised or reversed for individual asset or cash-generating unit [line items] | ||
Total | 3,658,416 | 4,084,877 |
Pemex Exploration and Production | Cuenca Macuspana | ||
Disclosure of information for impairment loss recognised or reversed for individual asset or cash-generating unit [line items] | ||
Total | 593,807 | $ 0 |
Pemex Logistics | ||
Disclosure of information for impairment loss recognised or reversed for individual asset or cash-generating unit [line items] | ||
Total | $ 171,830 |
Wells, Pipelines, Properties,_9
Wells, Pipelines, Properties, Plant and Equipment, Net - Summary of Net Impairment by CGUs Pemex Industrial Transformation (Detail) - MXN ($) $ in Thousands | 6 Months Ended | 12 Months Ended | |
Jun. 30, 2024 | Jun. 30, 2023 | Dec. 31, 2023 | |
Disclosure of information for impairment loss recognised or reversed for individual asset or cash-generating unit [line items] | |||
Impairment loss reversal | $ (182,422,817) | $ (162,110,173) | |
Pemex Industrial Transformation | |||
Disclosure of information for impairment loss recognised or reversed for individual asset or cash-generating unit [line items] | |||
Total | (36,392,092) | (6,548,396) | |
Pemex Industrial Transformation | Minatitlán Refinery | |||
Disclosure of information for impairment loss recognised or reversed for individual asset or cash-generating unit [line items] | |||
Total | (15,146,588) | (4,558,203) | |
Pemex Industrial Transformation | Ciudad Pemex Gas Processor Complex | |||
Disclosure of information for impairment loss recognised or reversed for individual asset or cash-generating unit [line items] | |||
Total | (5,265,217) | 0 | |
Pemex Industrial Transformation | Madero Refinery | |||
Disclosure of information for impairment loss recognised or reversed for individual asset or cash-generating unit [line items] | |||
Total | (5,039,912) | (10,210,354) | |
Pemex Industrial Transformation | Cactus Gas Processor Complex | |||
Disclosure of information for impairment loss recognised or reversed for individual asset or cash-generating unit [line items] | |||
Total | (2,983,894) | 0 | |
Pemex Industrial Transformation | Cosoleacaque Petrochemical Complex | |||
Disclosure of information for impairment loss recognised or reversed for individual asset or cash-generating unit [line items] | |||
Total | (1,985,563) | (1,301,741) | |
Pemex Industrial Transformation | Gas Burgos Gas Processor Complex | |||
Disclosure of information for impairment loss recognised or reversed for individual asset or cash-generating unit [line items] | |||
Total | (1,729,422) | (808,931) | |
Pemex Industrial Transformation | Morelos Petrochemical Complex | |||
Disclosure of information for impairment loss recognised or reversed for individual asset or cash-generating unit [line items] | |||
Total | (1,179,313) | 3,208,249 | |
Pemex Industrial Transformation | Nuevo Pemex Gas Processor Complex | |||
Disclosure of information for impairment loss recognised or reversed for individual asset or cash-generating unit [line items] | |||
Total | (1,141,900) | 1,080,820 | |
Pemex Industrial Transformation | Coatzacoalcos Gas Processor Complex | |||
Disclosure of information for impairment loss recognised or reversed for individual asset or cash-generating unit [line items] | |||
Total | (952,880) | 0 | |
Pemex Industrial Transformation | Cangrejera Ethylene Complex | |||
Disclosure of information for impairment loss recognised or reversed for individual asset or cash-generating unit [line items] | |||
Total | (486,975) | 0 | |
Pemex Industrial Transformation | La Venta Gas Processor Complex | |||
Disclosure of information for impairment loss recognised or reversed for individual asset or cash-generating unit [line items] | |||
Total | (450,034) | 0 | |
Pemex Industrial Transformation | Tula Refinery | |||
Disclosure of information for impairment loss recognised or reversed for individual asset or cash-generating unit [line items] | |||
Total | (108,056) | 0 | |
Pemex Industrial Transformation | Matapionche Gas Processor Complex | |||
Disclosure of information for impairment loss recognised or reversed for individual asset or cash-generating unit [line items] | |||
Total | (45,226) | (156,642) | |
Pemex Industrial Transformation | Gas Arenque Processor Complex | |||
Disclosure of information for impairment loss recognised or reversed for individual asset or cash-generating unit [line items] | |||
Total | (2,420) | (104,647) | |
Pemex Industrial Transformation | Cangrejera Petrochemical Complex | |||
Disclosure of information for impairment loss recognised or reversed for individual asset or cash-generating unit [line items] | |||
Total | 106 | 524,059 | |
Pemex Industrial Transformation | Salamanca Refinery | |||
Disclosure of information for impairment loss recognised or reversed for individual asset or cash-generating unit [line items] | |||
Total | 393 | 5,750,652 | |
Pemex Industrial Transformation | Pajaritos Ethylene Complex | |||
Disclosure of information for impairment loss recognised or reversed for individual asset or cash-generating unit [line items] | |||
Total | 55,743 | 0 | |
Pemex Industrial Transformation | Gas Poza Rica Processor Complex | |||
Disclosure of information for impairment loss recognised or reversed for individual asset or cash-generating unit [line items] | |||
Total | 69,066 | $ 28,342 | |
Pemex Logistics | |||
Disclosure of information for impairment loss recognised or reversed for individual asset or cash-generating unit [line items] | |||
Impairment loss reversal | (171,830) | ||
Recoverable amount of asset or cash-generating unit | $ 67,999,814 | ||
Pemex Logistics | Vessel | |||
Disclosure of information for impairment loss recognised or reversed for individual asset or cash-generating unit [line items] | |||
Pre-tax discount rate | 15.62% | 14.80% | |
Estimated useful lives | 17 years |
Wells, Pipelines, Properties_10
Wells, Pipelines, Properties, Plant and Equipment, Net - Assumptions to Determine NPV of Cash Flows (Detail) - Pemex Industrial Transformation | 6 Months Ended | 12 Months Ended | ||
Jun. 30, 2024 USD ($) Exchange_Rate MMBbls billionCubicMetersPerDay | Jun. 30, 2023 USD ($) Exchange_Rate MMBbls billionCubicMetersPerDay | Dec. 31, 2023 Exchange_Rate | Dec. 31, 2022 | |
Disclosure of detailed information about property, plant and equipment [line items] | ||||
Rate of U.S.$ | 19.4143 | |||
Refining | ||||
Disclosure of detailed information about property, plant and equipment [line items] | ||||
Average crude oil Price (U.S.$) | $ | $ 105.12 | $ 75.2 | ||
Processed volume | MMBbls | 1,029 | 903 | ||
Rate of U.S.$ | 18.3773 | 17.072 | 16.922 | |
Useful lives of the cash-generating units (year average) | 11 years | 11 years | ||
Pre-tax discount rate | 1,450% | 1,410% | ||
Gas | ||||
Disclosure of detailed information about property, plant and equipment [line items] | ||||
Processed volume | billionCubicMetersPerDay | 2,424 | 2,575 | ||
Rate of U.S.$ | 18.3773 | 17.072 | ||
Useful lives of the cash-generating units (year average) | 6 years | 6 years | ||
Pre-tax discount rate | 1,412% | 1,326% | ||
Petrochemicals | ||||
Disclosure of detailed information about property, plant and equipment [line items] | ||||
Rate of U.S.$ | 18.3773 | 17.072 | ||
Useful lives of the cash-generating units (year average) | 5 years | 5 years | ||
Pre-tax discount rate | 1,085% | 1,046% | ||
Ethylene | ||||
Disclosure of detailed information about property, plant and equipment [line items] | ||||
Rate of U.S.$ | 18.3773 | 17.072 | ||
Useful lives of the cash-generating units (year average) | 5 years | 5 years | ||
Pre-tax discount rate | 1,085% | 1,046% | ||
Fertilizers | ||||
Disclosure of detailed information about property, plant and equipment [line items] | ||||
Rate of U.S.$ | 18.3773 | 17.072 | ||
Useful lives of the cash-generating units (year average) | 5 years | 5 years | ||
Pre-tax discount rate | 1,187% | 1,305% |
Wells, Pipelines, Properties_11
Wells, Pipelines, Properties, Plant And Equipment, Net - Impairment of Fixed Assets (Detail) - MXN ($) $ in Thousands | 6 Months Ended | |
Jun. 30, 2024 | Jun. 30, 2023 | |
Salina Cruz Refinery | ||
Disclosure of information for impairment loss recognised or reversed for individual asset or cash-generating unit [line items] | ||
Total | $ 79,920,687 | $ 44,338,748 |
Tula Refinery | ||
Disclosure of information for impairment loss recognised or reversed for individual asset or cash-generating unit [line items] | ||
Total | 47,008,486 | 55,664,585 |
Salamanca Refinery | ||
Disclosure of information for impairment loss recognised or reversed for individual asset or cash-generating unit [line items] | ||
Total | 36,234,540 | 28,617,019 |
Nuevo Pemex Gas Processor Complex | ||
Disclosure of information for impairment loss recognised or reversed for individual asset or cash-generating unit [line items] | ||
Total | 6,734,674 | 27,965,299 |
Ciudad Pemex Gas Processor Complex | ||
Disclosure of information for impairment loss recognised or reversed for individual asset or cash-generating unit [line items] | ||
Total | 6,278,504 | 0 |
Cactus Gas Processor Complex | ||
Disclosure of information for impairment loss recognised or reversed for individual asset or cash-generating unit [line items] | ||
Total | 4,360,278 | 0 |
La Venta Gas Processor Complex | ||
Disclosure of information for impairment loss recognised or reversed for individual asset or cash-generating unit [line items] | ||
Total | 980,146 | 0 |
Coatzacoalcos Gas Processor Complex | ||
Disclosure of information for impairment loss recognised or reversed for individual asset or cash-generating unit [line items] | ||
Total | 905,502 | 0 |
Madero Refinery | ||
Disclosure of information for impairment loss recognised or reversed for individual asset or cash-generating unit [line items] | ||
Total | 0 | 730,425 |
Gas Burgos Gas Processor Complex | ||
Disclosure of information for impairment loss recognised or reversed for individual asset or cash-generating unit [line items] | ||
Total | 0 | 965,475 |
Morelos Petrochemical Complex | ||
Disclosure of information for impairment loss recognised or reversed for individual asset or cash-generating unit [line items] | ||
Total | 0 | 2,969,979 |
Cosoleacaque Petrochemical Complex | ||
Disclosure of information for impairment loss recognised or reversed for individual asset or cash-generating unit [line items] | ||
Total | $ 0 | $ 858,643 |
Intangible Assets, Net - Additi
Intangible Assets, Net - Additional Information (Detail) - MXN ($) $ in Thousands | 6 Months Ended | ||
Jun. 30, 2024 | Jun. 30, 2023 | Dec. 31, 2023 | |
Disclosure of detailed information about intangible assets [abstract] | |||
Intangible assets | $ 22,225,979 | $ 20,350,819 | |
Expenses related to unsuccessful wells | $ 18,453,255 | $ 17,105,924 |
Intangible Assets, Net - Schedu
Intangible Assets, Net - Schedule of Intangible Assets (Detail) - Wells unassigned to a reserve: - MXN ($) $ in Thousands | 6 Months Ended | |
Jun. 30, 2024 | Jun. 30, 2023 | |
Wells unassigned to a reserve: | ||
Balance at the beginning of the year | $ 18,940,360 | $ 28,388,655 |
Additions to construction in progress | 15,850,475 | 18,994,442 |
Transfers against expenses | (10,836,456) | (15,667,953) |
Transfers against fixed assets | (3,368,473) | (10,669,293) |
Balance at the end of the period | $ 20,585,906 | $ 21,045,851 |
Intangible Assets, Net - Sche_2
Intangible Assets, Net - Schedule of Other Components of Intangible Assets (Detail) - MXN ($) $ in Thousands | 6 Months Ended | |
Jun. 30, 2024 | Jun. 30, 2023 | |
Other intangible assets | ||
Balance at the beginning of the year | $ 20,350,819 | |
Amortization | (176,074) | $ (196,096) |
Balance at the end of the period | 22,225,979 | |
Other intangible assets | Total carrying amount | ||
Other intangible assets | ||
Balance at the beginning of the year | 1,410,459 | 1,636,280 |
Additions | 324,725 | 297,387 |
Effects of foreign exchange | 80,963 | (161,042) |
Balance at the end of the period | 1,640,073 | 1,576,529 |
Other intangible assets | Accumulated depreciation and amortization | ||
Other intangible assets | ||
Amortization | $ (176,074) | $ (196,096) |
Government Bonds and Other As_3
Government Bonds and Other Assets - Summary of Balance of Government Bonds (Detail) - MXN ($) $ in Thousands | Jun. 30, 2024 | Dec. 31, 2023 |
Disclosure Of Notes Receivable Government Bonds And Other Non Current Assets [Line Items] | ||
Expected credit losses | $ 4,649 | $ 4,649 |
Government Bonds | ||
Disclosure Of Notes Receivable Government Bonds And Other Non Current Assets [Line Items] | ||
Mexican Government Bonds | 53,293,310 | 64,132,418 |
Less: current portion of Government Bonds, net of expected credit losses | 28,531,855 | 28,637,314 |
Total long-term of Government bonds | $ 24,761,455 | $ 35,495,104 |
Government Bonds and Other As_4
Government Bonds and Other Assets - Additional Information (Detail) $ in Thousands | 6 Months Ended | 12 Months Ended | |||
Nov. 20, 2020 MXN ($) | Jun. 30, 2024 MXN ($) series | Jun. 30, 2023 MXN ($) | Dec. 31, 2023 MXN ($) 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 | $ 1,430,247,150 | $ 1,317,248,763 | |||
Financial arrangement, term | 3 years | ||||
Mexican Government | |||||
Disclosure Of Notes Receivable Government Bonds And Other Non Current Assets [Line Items] | |||||
Interest income | 2,764,716 | $ 4,547,770 | |||
Government Bonds | |||||
Disclosure Of Notes Receivable Government Bonds And Other Non Current Assets [Line Items] | |||||
Principal amount of debt | 51,217,925 | 58,741,483 | $ 128,786,611 | ||
Long-term debt, net of current portion | 51,443,540 | 59,364,989 | $ 95,597,610 | ||
Fair value of the transferred assets | 52,166,173 | 62,731,992 | |||
Fair value of associated financial liabilities | 51,738,210 | 49,317,793 | |||
Fair value of transferred financial assets and associated financial liabilities, net | 427,963 | 13,414,199 | |||
Interest | $ 225,615 | 623,506 | |||
Government Bonds | Seventeen Series of Development Bonds | |||||
Disclosure Of Notes Receivable Government Bonds And Other Non Current Assets [Line Items] | |||||
Notional amount | $ 63,875,778 | ||||
Number of series of development bonds | series | 12 | ||||
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 | 9 | ||||
Financial assets at amortised cost | $ 53,143,153 | ||||
Government Bonds | Financing income | |||||
Disclosure Of Notes Receivable Government Bonds And Other Non Current Assets [Line Items] | |||||
Interest income | $ 2,736,903 | $ 3,985,217 | |||
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 and Other As_5
Government Bonds and Other Assets - Summary of Roll forward of the Mexican Bonds (Detail) - Mexican Bonds - Mexican Government - MXN ($) $ in Thousands | 6 Months Ended | |
Jun. 30, 2024 | Jun. 30, 2023 | |
Disclosure of Roll Forward Related to the Promissory Notes [Roll Forward] | ||
Balance as of the beginning of the year | $ 64,132,418 | $ 110,179,517 |
Government Bonds collected | (10,732,626) | (27,901,421) |
Accrued interests | 2,736,903 | 3,985,217 |
Interests received from bonds | (2,764,716) | (4,547,770) |
Impact of the valuation of bonds in UDIs | 0 | 109,585 |
Amortized cost | (79,616) | 270,498 |
Reversal of impairment (impairment) of bonds | 947 | 2,546 |
Balance at the end of the period | $ 53,293,310 | $ 82,098,172 |
Government Bonds and Other As_6
Government Bonds and Other Assets - Summary of Other Assets (Detail) - MXN ($) $ in Thousands | Jun. 30, 2024 | Dec. 31, 2023 |
Disclosure Of Notes Receivable Government Bonds And Other Long Term Assets [Abstract] | ||
Payments in advance | $ 5,386,010 | $ 5,907,464 |
Other | 4,562,262 | 3,353,985 |
Insurance | 1,236,431 | 1,352,643 |
Total other assets | $ 11,184,703 | $ 10,614,092 |
Debt - Additional Information (
Debt - Additional Information (Detail) $ in Thousands, $ in Thousands | 6 Months Ended | 120 Months Ended | ||||||||||||||||||
Jun. 25, 2024 MXN ($) | Jun. 18, 2024 MXN ($) | Jun. 12, 2024 MXN ($) | Jun. 03, 2024 MXN ($) | May 24, 2024 MXN ($) | Apr. 29, 2024 MXN ($) | Apr. 26, 2024 MXN ($) | Apr. 12, 2024 MXN ($) | Mar. 04, 2024 MXN ($) | Feb. 28, 2024 MXN ($) | Feb. 23, 2024 MXN ($) | Jun. 30, 2024 MXN ($) | Jun. 30, 2024 USD ($) | Jun. 30, 2023 MXN ($) | Apr. 18, 2024 USD ($) | Jun. 30, 2024 USD ($) | Dec. 31, 2023 MXN ($) | Dec. 31, 2023 USD ($) | Nov. 13, 2023 MXN ($) | Nov. 13, 2023 USD ($) | |
Disclosure of long term debt [Line Items] | ||||||||||||||||||||
Domestic net debt | $ 138,119,100 | |||||||||||||||||||
External net debt | $ 3,726,500 | |||||||||||||||||||
Principal amount outstanding U.S.$ | $ 1,618,209,028 | $ 1,577,509,797 | ||||||||||||||||||
Line of credit | $ 5,902,000 | |||||||||||||||||||
Outstanding of revolving credit lines | 182,558 | |||||||||||||||||||
Revolving credit facility amount | 505,121 | |||||||||||||||||||
Repayment of revolving credit lines | 620,190,507 | $ 983,776 | $ 436,838,825 | |||||||||||||||||
PMI Trading Ltd | ||||||||||||||||||||
Disclosure of long term debt [Line Items] | ||||||||||||||||||||
Outstanding of revolving credit lines | $ 661,213 | |||||||||||||||||||
Revolving credit facility available | $ 42,442 | |||||||||||||||||||
Promissory Note | Twenty Eight Days TIIE Plus 350 Basis Point | ||||||||||||||||||||
Disclosure of long term debt [Line Items] | ||||||||||||||||||||
Principal amount outstanding U.S.$ | $ 4,000,000 | $ 3,000,000 | ||||||||||||||||||
Maturity | 28-day | 28-day | ||||||||||||||||||
Interest rate basis spread | 3.50% | |||||||||||||||||||
Promissory Note | Twenty Eight Days TIIE Plus 400 Basis Points | ||||||||||||||||||||
Disclosure of long term debt [Line Items] | ||||||||||||||||||||
Principal amount outstanding U.S.$ | $ 850 | |||||||||||||||||||
Maturity | 28-day | |||||||||||||||||||
Interest rate basis spread | 4% | |||||||||||||||||||
Promissory Note | Twenty Eight Days TIIE Plus 160 Basis Points | ||||||||||||||||||||
Disclosure of long term debt [Line Items] | ||||||||||||||||||||
Principal amount outstanding U.S.$ | $ 4,000 | |||||||||||||||||||
Maturity | 28-day | |||||||||||||||||||
Interest rate basis spread | 1.60% | |||||||||||||||||||
Promissory Note | Twenty Eight Days TIIE Plus 315 Basis Points | ||||||||||||||||||||
Disclosure of long term debt [Line Items] | ||||||||||||||||||||
Principal amount outstanding U.S.$ | $ 2,150 | |||||||||||||||||||
Maturity | 28-day | |||||||||||||||||||
Interest rate basis spread | 3.15% | |||||||||||||||||||
Credit Line | ||||||||||||||||||||
Disclosure of long term debt [Line Items] | ||||||||||||||||||||
Line of credit | 20,500,000 | |||||||||||||||||||
Credit Line | Twenty Eight Days TIIE Plus 260 Basis Point, Maturing August 2024 | ||||||||||||||||||||
Disclosure of long term debt [Line Items] | ||||||||||||||||||||
Principal amount outstanding U.S.$ | $ 1,000,000 | |||||||||||||||||||
Maturity | 28-day | |||||||||||||||||||
Interest rate basis spread | 26,000% | |||||||||||||||||||
Credit Line | Ninety One Days TIIE Plus 400 Basis Points | ||||||||||||||||||||
Disclosure of long term debt [Line Items] | ||||||||||||||||||||
Principal amount outstanding U.S.$ | $ 5,000,000 | $ 5,000,000 | 2,500,000 | |||||||||||||||||
Maturity | 91-day | 91-day | ||||||||||||||||||
Interest rate basis spread | 4% | 4% | ||||||||||||||||||
Credit Line | Twenty Eight Days TIIE Plus 260 Basis Point, Maturing November 2024 | ||||||||||||||||||||
Disclosure of long term debt [Line Items] | ||||||||||||||||||||
Principal amount outstanding U.S.$ | $ 3,000,000 | |||||||||||||||||||
Maturity | 28-day | |||||||||||||||||||
Interest rate basis spread | 26,000% | |||||||||||||||||||
Credit Line | Twenty Eight Days TIIE Plus 310 Basis Point, Maturing January 2025 | ||||||||||||||||||||
Disclosure of long term debt [Line Items] | ||||||||||||||||||||
Principal amount outstanding U.S.$ | $ 1,700 | |||||||||||||||||||
Maturity | 28-day | |||||||||||||||||||
Interest rate basis spread | 3.10% | |||||||||||||||||||
Credit Line | Twenty Eight Days TIIE Plus 350 Basis Points | ||||||||||||||||||||
Disclosure of long term debt [Line Items] | ||||||||||||||||||||
Principal amount outstanding U.S.$ | $ 19,000 | |||||||||||||||||||
Maturity | 28-days | |||||||||||||||||||
Interest rate basis spread | 3.50% | |||||||||||||||||||
Credit Line | Twenty Eight Days TIIE Plus 270 Basis Points | ||||||||||||||||||||
Disclosure of long term debt [Line Items] | ||||||||||||||||||||
Principal amount outstanding U.S.$ | $ 23,400 | |||||||||||||||||||
Maturity | 28-day | |||||||||||||||||||
Interest rate basis spread | 2.70% | |||||||||||||||||||
Lines Of Credit | Ninety One Days TIIE Plus 400 Basis Points | ||||||||||||||||||||
Disclosure of long term debt [Line Items] | ||||||||||||||||||||
Principal amount outstanding U.S.$ | $ 500,000 | |||||||||||||||||||
Senior Guaranteed Floating Rate Notes | Ninety Days SOFR Plus 300 Basis Point | ||||||||||||||||||||
Disclosure of long term debt [Line Items] | ||||||||||||||||||||
Principal amount outstanding U.S.$ | $ 500,000 | |||||||||||||||||||
Maturity | 90-day | |||||||||||||||||||
Interest rate basis spread | 3% |
Debt - Summary of Foreign Curre
Debt - Summary of Foreign Currency Translation (Detail) - MXN ($) | Jun. 30, 2024 | Dec. 31, 2023 | Jun. 30, 2023 |
Disclosure of long term debt [Line Items] | |||
Principal amount outstanding U.S.$ | $ 1,618,209,028,000 | $ 1,577,509,797,000 | |
U.S. dollar | |||
Disclosure of long term debt [Line Items] | |||
Closing foreign exchange rate | 18.3773 | $ 17.0720 | |
Japanese yen | |||
Disclosure of long term debt [Line Items] | |||
Closing foreign exchange rate | 0.1143 | 0.1183 | |
Pounds sterling | |||
Disclosure of long term debt [Line Items] | |||
Closing foreign exchange rate | 23.2399 | 21.5977 | |
Euro | |||
Disclosure of long term debt [Line Items] | |||
Closing foreign exchange rate | 19.6747 | 18.6443 | |
Swiss francs | |||
Disclosure of long term debt [Line Items] | |||
Closing foreign exchange rate | $ 20.4578 | $ 19.0535 |
Debt - Summary of Changes in Co
Debt - Summary of Changes in Consolidated Debt (Detail) - MXN ($) $ in Thousands | 6 Months Ended | |
Jun. 30, 2024 | Jun. 30, 2023 | |
Disclosure of Roll Forward Related to the Promissory Notes [Roll Forward] | ||
Debt issue related costs | $ 13,766 | $ 164,064 |
Expense related to issuance of debt | (310,228) | (984,320) |
Amortized cost | 1,236,004 | 1,310,414 |
Financed public works contracts | ||
Disclosure of Roll Forward Related to the Promissory Notes [Roll Forward] | ||
At the beginning of the year | 1,794,470,357 | 2,091,463,996 |
Loans obtained-financing institutions | 536,422,333 | 431,659,853 |
Debt payments | (620,190,507) | (436,838,825) |
Accrued interest | 74,313,214 | 75,414,835 |
Interest paid | (70,733,122) | (75,009,928) |
Foreign exchange | 112,266,352 | (200,072,975) |
At the end of the period | $ 1,826,548,627 | $ 1,886,616,956 |
Provisions for Sundry Credito_3
Provisions for Sundry Creditors - Summary of Provisions for Sundry Creditors and Others (Detail) - MXN ($) $ in Thousands | Jun. 30, 2024 | Dec. 31, 2023 | Jun. 30, 2023 |
Disclosure of other provisions [abstract] | |||
Provision for plugging of wells (Note 13) | $ 69,121,263 | $ 61,117,106 | |
Provision for trails in process (Note 19) | 15,580,473 | 12,436,092 | |
Provision for environmental costs | 8,112,479 | 9,757,356 | |
Provisions | $ 92,814,215 | $ 83,310,554 | $ 83,310,554 |
Equity (Deficit) - Additional I
Equity (Deficit) - Additional Information (Detail) $ in Thousands | 1 Months Ended | 3 Months Ended | 6 Months Ended | 12 Months Ended | ||||
Jan. 31, 2024 MXN ($) | Jun. 30, 2024 MXN ($) | Jun. 30, 2023 MXN ($) | Jun. 30, 2024 MXN ($) $ / uSDPerBbl | Jun. 30, 2023 MXN ($) | Dec. 31, 2023 MXN ($) $ / uSDPerBbl | Jun. 30, 2024 USD ($) | Dec. 31, 2022 | |
Disclosure of equity [line items] | ||||||||
Other comprehensive income, net of tax, gains (losses) on remeasurements of defined benefit plans | $ 131,130,474,000 | |||||||
Post-employment benefit expense, defined benefit plans | $ 1,990,776,000 | |||||||
Percentage of discount and return on plan asset | 10.41% | 9.21% | 10.41% | 9.21% | 9.42% | 10.41% | 9.39% | |
Net (loss) income | $ (273,329,563,000) | $ 25,423,379,000 | $ (268,647,357,000) | $ 82,159,155,000 | ||||
Negative equity amount | 1,605,749,447,000 | 1,605,749,447,000 | $ 1,652,978,810,000 | |||||
Negative working capital | 547,017,937,000 | $ 585,176,915,000 | ||||||
Bank indebtedness | 203,705,500,000 | 203,705,500,000 | ||||||
Short- term debt principal maturities | 396,301,477,000 | $ 396,301,477,000 | ||||||
Percentage of share profit duty | 30% | 40% | ||||||
Percentage reduction of share profit duty | 10% | |||||||
Decrease in duties due to tax incentives | $ 91,348,348,000 | |||||||
Indebtedness that may be used to partially cover financial balance in next year | $ 3,726,500,000 | $ 3,726,500,000 | $ 138,119,100 | |||||
Percentage decrease in price of crude oil, natural gas, and petroleum products | 20% | |||||||
Crude oil price per barrel | $ / uSDPerBbl | 71.3 | 56.7 | ||||||
Gain (loss) on non-controlling interest | $ (139,679,000) | $ (116,639,000) | ||||||
Federal budget | ||||||||
Disclosure of equity [line items] | ||||||||
Negative budget financial balance | 145,000,000,000 | |||||||
Changes in tax rates or tax laws enacted or announced | ||||||||
Disclosure of equity [line items] | ||||||||
Decrease in duties due to tax incentives | $ 20,646,242,000 | |||||||
Contributions A | ||||||||
Disclosure of equity [line items] | ||||||||
Increase in certificates of contribution | $ 145,000,000,000 | $ 166,615,123,000 |
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, 2024 | Dec. 31, 2023 | |
Disclosure of equity [line items] | ||
Certificates of Contribution, Beginning Balance | $ 1,196,207,416 | $ 1,029,592,293 |
Increase in certificates of contribution | 145,000,000 | 166,615,123 |
Certificates of Contribution, Ending Balance | $ 1,341,207,416 | $ 1,196,207,416 |
Equity (Deficit) - Summary of G
Equity (Deficit) - Summary of Government Contributions to Petroleos Mexicanos through the Ministry of Energy (Detail) - Petróleos Mexicanos - MXN ($) $ in Thousands | 6 Months Ended | ||||||||
Aug. 08, 2024 | Jun. 11, 2024 | May 21, 2024 | May 09, 2024 | Mar. 26, 2024 | Mar. 07, 2024 | Feb. 12, 2024 | Jan. 12, 2024 | Jun. 30, 2024 | |
Strengthening of financial position | |||||||||
Disclosure of government contributions [line item] | |||||||||
Proceeds from government grants | $ 5,632,399 | $ 4,194,241 | $ 27,634,576 | $ 13,997,554 | $ 32,391,756 | $ 22,479,358 | $ 145,000,000 | ||
Strengthening of Financial Position One, March | |||||||||
Disclosure of government contributions [line item] | |||||||||
Proceeds from government grants | $ 5,857,845 | ||||||||
Strengthening of Financial Position Two, March | |||||||||
Disclosure of government contributions [line item] | |||||||||
Proceeds from government grants | $ 2,510,505 | ||||||||
Strengthening of Financial Position One, May | |||||||||
Disclosure of government contributions [line item] | |||||||||
Proceeds from government grants | $ 21,321,366 | ||||||||
Strengthening of Financial Position Two, May | |||||||||
Disclosure of government contributions [line item] | |||||||||
Proceeds from government grants | $ 8,980,400 |
Contingencies - Additional Info
Contingencies - Additional Information (Detail) $ in Thousands, $ in Thousands | Feb. 17, 2022 USD ($) | Dec. 06, 2021 USD ($) | Jan. 14, 2019 MXN ($) | Jan. 14, 2019 USD ($) | Apr. 04, 2011 USD ($) | Jun. 30, 2024 MXN ($) | Dec. 31, 2023 MXN ($) | Sep. 22, 2023 MXN ($) | Sep. 09, 2022 MXN ($) |
Disclosure of contingent liabilities [line items] | |||||||||
Accrued reserve on contingent liabilities | $ 15,580,473 | $ 12,436,092 | |||||||
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 | ||||||||
Administrative Claim | Pemex Industrial Transformation | |||||||||
Disclosure of contingent liabilities [line items] | |||||||||
Legal proceedings damage sought by plaintiffs | $ 240,448 | $ 1,838,753 | $ 14,607 | $ 113,582 | |||||
Tax Contingent Liability | Pemex Industrial Transformation | |||||||||
Disclosure of contingent liabilities [line items] | |||||||||
Accrued reserve on contingent liabilities | $ 3,084,975 | $ 8,349,608 | $ 5,852,222 |
Subsequent Events - Recent Fina
Subsequent Events - Recent Financing Activities (Narrative) (Details) $ in Thousands, $ in Thousands | 3 Months Ended | |||||||||||||||||
Sep. 20, 2024 MXN ($) | Sep. 20, 2024 USD ($) | Sep. 19, 2024 MXN ($) | Sep. 13, 2024 MXN ($) | Aug. 30, 2024 MXN ($) | Aug. 26, 2024 MXN ($) | Aug. 21, 2024 MXN ($) | Aug. 16, 2024 MXN ($) | Jul. 26, 2024 MXN ($) | Jul. 17, 2024 USD ($) | Jul. 10, 2024 USD ($) | Jul. 02, 2024 MXN ($) | Sep. 20, 2024 USD ($) | Sep. 20, 2024 USD ($) | Jun. 30, 2024 MXN ($) | Jun. 30, 2024 USD ($) | Apr. 26, 2024 MXN ($) | Dec. 31, 2023 MXN ($) | |
Disclosure of non-adjusting events after reporting period [line items] | ||||||||||||||||||
Principal amount outstanding U.S.$ | $ 1,618,209,028 | $ 1,577,509,797 | ||||||||||||||||
Outstanding of revolving credit lines | $ 182,558 | |||||||||||||||||
Subsequent event | ||||||||||||||||||
Disclosure of non-adjusting events after reporting period [line items] | ||||||||||||||||||
Principal amount outstanding U.S.$ | $ 80,000 | |||||||||||||||||
Obtain of revolving credit lines | $ 20,500,000 | $ 5,902,000 | ||||||||||||||||
Promissory Note | Twenty Eighty Days TIIE Plus 85 Basis Points | Subsequent event | ||||||||||||||||||
Disclosure of non-adjusting events after reporting period [line items] | ||||||||||||||||||
Principal amount outstanding U.S.$ | $ 6,500 | |||||||||||||||||
Maturity | 28 days | |||||||||||||||||
Interest rate basis spread | 0.85% | |||||||||||||||||
Promissory Note | Thirty Days SOFR Plus 425 Basis Points | Subsequent event | ||||||||||||||||||
Disclosure of non-adjusting events after reporting period [line items] | ||||||||||||||||||
Principal amount outstanding U.S.$ | $ 341,667 | |||||||||||||||||
Maturity | 30 days | |||||||||||||||||
Interest rate basis spread | 4.25% | |||||||||||||||||
Promissory Note | Twenty Eight Days TIIE Plus 5 Basis Points | Subsequent event | ||||||||||||||||||
Disclosure of non-adjusting events after reporting period [line items] | ||||||||||||||||||
Principal amount outstanding U.S.$ | $ 4,000 | |||||||||||||||||
Maturity | 28 days | |||||||||||||||||
Interest rate basis spread | 0.05% | |||||||||||||||||
Promissory Note | Twenty Eight Days TIIE Plus 365 Basis Points | Subsequent event | ||||||||||||||||||
Disclosure of non-adjusting events after reporting period [line items] | ||||||||||||||||||
Principal amount outstanding U.S.$ | $ 2,000,000 | $ 2,000,000 | $ 3,000,000 | $ 5,000,000 | ||||||||||||||
Maturity | 28 days | 28 days | 28 days | 28 days | ||||||||||||||
Interest rate basis spread | 3.65% | 3.65% | 3.65% | 3.65% | ||||||||||||||
Promissory Note | Twenty Eight Days TIIE Plus 310 Basis Points | Subsequent event | ||||||||||||||||||
Disclosure of non-adjusting events after reporting period [line items] | ||||||||||||||||||
Principal amount outstanding U.S.$ | $ 1,000,000 | |||||||||||||||||
Maturity | 28 days | |||||||||||||||||
Interest rate basis spread | 3.10% | |||||||||||||||||
Promissory Note | Twenty Eight Days TIIE Plus 400 Basis Points | ||||||||||||||||||
Disclosure of non-adjusting events after reporting period [line items] | ||||||||||||||||||
Principal amount outstanding U.S.$ | $ 850 | |||||||||||||||||
Interest rate basis spread | 4% | |||||||||||||||||
Promissory Note | Twenty Eight Days TIIE Plus 400 Basis Points | Subsequent event | ||||||||||||||||||
Disclosure of non-adjusting events after reporting period [line items] | ||||||||||||||||||
Principal amount outstanding U.S.$ | $ 1,200,000 | $ 5,000,000 | ||||||||||||||||
Maturity | 28 days | |||||||||||||||||
Interest rate basis spread | 4% | |||||||||||||||||
Credit Line | Thirty Days SOFR Plus 215 Basis Point | Subsequent event | ||||||||||||||||||
Disclosure of non-adjusting events after reporting period [line items] | ||||||||||||||||||
Principal amount outstanding U.S.$ | $ 2,500 | |||||||||||||||||
Maturity | 30 days | |||||||||||||||||
Interest rate basis spread | 2.15% | |||||||||||||||||
Credit Line | Ninety Days SOFR Plus 454 Basis Point | Subsequent event | ||||||||||||||||||
Disclosure of non-adjusting events after reporting period [line items] | ||||||||||||||||||
Principal amount outstanding U.S.$ | $ 750 | |||||||||||||||||
Maturity | 90 days | |||||||||||||||||
Interest rate basis spread | 4.54% | |||||||||||||||||
PMI TRD DAC revolving credit lines | ||||||||||||||||||
Disclosure of non-adjusting events after reporting period [line items] | ||||||||||||||||||
Outstanding of revolving credit lines | 205,444 | $ 182,558 | ||||||||||||||||
PMI TRD DAC revolving credit lines | Subsequent event | ||||||||||||||||||
Disclosure of non-adjusting events after reporting period [line items] | ||||||||||||||||||
Principal amount outstanding U.S.$ | $ 19,556 | |||||||||||||||||
Proceeds from revolving credit lines | $ 270,273 | |||||||||||||||||
Repayments of revolving credit lines | $ 247,387 |
Subsequent Events - Narrative (
Subsequent Events - Narrative (Detail) $ in Thousands | 3 Months Ended | 6 Months Ended | |||
Sep. 25, 2024 MXN ($) $ / $ $ / bbl | Jun. 30, 2024 MXN ($) $ / $ | Jun. 30, 2023 MXN ($) | Jun. 30, 2024 MXN ($) $ / $ $ / bbl | Jun. 30, 2023 MXN ($) | |
Disclosure of non-adjusting events after reporting period [line items] | |||||
Currency exchange rate | $ / $ | 18.3773 | 18.3773 | |||
Foreign exchange (loss) income — net | $ | $ 83,191,617 | $ (159,683,239) | $ 105,359,430 | $ (126,295,142) | $ 230,676,132 |
Average prices of crude oil exports | $ / bbl | 76.7 | ||||
Percentage of increase in crude oil price | 14.30% | ||||
Subsequent event | |||||
Disclosure of non-adjusting events after reporting period [line items] | |||||
Currency exchange rate | $ / $ | 19.415 | ||||
Appreciation of the value of the peso in U.S. dollars terms | 5.60% | ||||
Average prices of crude oil exports | $ / bbl | 65.72 |
Subsequent Events - Summary of
Subsequent Events - Summary of Contributions from the Mexican Government (Detail) - Petróleos Mexicanos - Strengthening of financial position - MXN ($) $ in Thousands | 6 Months Ended | ||||||
Aug. 08, 2024 | Jun. 11, 2024 | May 21, 2024 | Mar. 07, 2024 | Feb. 12, 2024 | Jan. 12, 2024 | Jun. 30, 2024 | |
Disclosure of non-adjusting events after reporting period [line items] | |||||||
Total | $ 5,632,399 | $ 4,194,241 | $ 27,634,576 | $ 13,997,554 | $ 32,391,756 | $ 22,479,358 | $ 145,000,000 |
Subsequent event | |||||||
Disclosure of non-adjusting events after reporting period [line items] | |||||||
Total | $ 5,509,050 |
Subsequent Events - Summary o_2
Subsequent Events - Summary of Effects of Tax Decree For Duties (Details) $ in Thousands | 2 Months Ended | 3 Months Ended | 12 Months Ended |
Jul. 31, 2024 USD ($) | Jul. 31, 2024 USD ($) | Dec. 31, 2023 MXN ($) | |
Disclosure of non-adjusting events after reporting period [line items] | |||
Total of tax decree granted | $ 91,348,348,000 | ||
Subsequent event | Profit Sharing Duty | |||
Disclosure of non-adjusting events after reporting period [line items] | |||
Total of tax decree granted | $ 47,647,368 | ||
Subsequent event | Hydrocarbons Extraction Duty | |||
Disclosure of non-adjusting events after reporting period [line items] | |||
Total of tax decree granted | $ 10,987,688 |
Subsidiary Guarantor Informat_3
Subsidiary Guarantor Information - Summary of Principal Amount Outstanding of Registered Debt Securities (Detail) $ in Thousands | 6 Months Ended |
Jun. 30, 2024 USD ($) | |
9.500% Global Guaranteed Bonds due 2027 | Petróleos Mexicanos | |
Supplemental information [line items] | |
Security | 9.50% |
Principal amount outstanding (U.S.$) | $ 96,718 |
6.625% Guaranteed Bonds due 2035 | Master Trust | |
Supplemental information [line items] | |
Security | 6.625% |
Principal amount outstanding (U.S.$) | $ 1,750,000 |
6.625% Guaranteed Bonds due 2035 | Petróleos Mexicanos | |
Supplemental information [line items] | |
Principal amount outstanding (U.S.$) | $ 999,000 |
9.500% Guaranteed Bonds due 2027 | Master Trust | |
Supplemental information [line items] | |
Security | 9.50% |
Principal amount outstanding (U.S.$) | $ 168,625 |
6.625% Guaranteed Bonds due 2038 | Master Trust | |
Supplemental information [line items] | |
Security | 6.625% |
Principal amount outstanding (U.S.$) | $ 491,175 |
6.625% Notes due 2035 | Petróleos Mexicanos | |
Supplemental information [line items] | |
Security | 6.625% |
6.500% Bonds due 2041 | Petróleos Mexicanos | |
Supplemental information [line items] | |
Security | 6.50% |
Principal amount outstanding (U.S.$) | $ 1,560,521 |
5.500% Bonds due 2044 | Petróleos Mexicanos | |
Supplemental information [line items] | |
Security | 5.50% |
Principal amount outstanding (U.S.$) | $ 640,357 |
6.375% Bonds due 2045 | Petróleos Mexicanos | |
Supplemental information [line items] | |
Security | 6.375% |
Principal amount outstanding (U.S.$) | $ 1,199,747 |
5.625% Bonds due 2046 | Petróleos Mexicanos | |
Supplemental information [line items] | |
Security | 5.625% |
Principal amount outstanding (U.S.$) | $ 626,143 |
4.500% Notes due 2026 | Petróleos Mexicanos | |
Supplemental information [line items] | |
Security | 4.50% |
Principal amount outstanding (U.S.$) | $ 1,124,403 |
4.250% Notes due 2025 | Petróleos Mexicanos | |
Supplemental information [line items] | |
Security | 4.25% |
Principal amount outstanding (U.S.$) | $ 635,449 |
6.875% Notes due 2026 | Petróleos Mexicanos | |
Supplemental information [line items] | |
Security | 6.875% |
Principal amount outstanding (U.S.$) | $ 2,502,771 |
6.750% Bonds due 2047 | Petróleos Mexicanos | |
Supplemental information [line items] | |
Security | 6.75% |
Principal amount outstanding (U.S.$) | $ 5,548,156 |
5.350% Notes due 2028 | Petróleos Mexicanos | |
Supplemental information [line items] | |
Security | 5.35% |
Principal amount outstanding (U.S.$) | $ 1,980,570 |
6.350% Bonds due 2048 | Petróleos Mexicanos | |
Supplemental information [line items] | |
Security | 6.35% |
Principal amount outstanding (U.S.$) | $ 1,574,041 |
6.500% Notes due 2027 | Petróleos Mexicanos | |
Supplemental information [line items] | |
Security | 6.50% |
Principal amount outstanding (U.S.$) | $ 4,009,043 |
5.950% Notes due 2031 | Petróleos Mexicanos | |
Supplemental information [line items] | |
Security | 5.95% |
Principal amount outstanding (U.S.$) | $ 3,777,381 |
6.490% Notes due 2027 | Petróleos Mexicanos | |
Supplemental information [line items] | |
Security | 6.49% |
Principal amount outstanding (U.S.$) | $ 1,538,374 |
6.840% Notes due 2030 | Petróleos Mexicanos | |
Supplemental information [line items] | |
Security | 6.84% |
Principal amount outstanding (U.S.$) | $ 2,345,538 |
6.950% Bonds due 2060 | Petróleos Mexicanos | |
Supplemental information [line items] | |
Security | 6.95% |
Principal amount outstanding (U.S.$) | $ 3,796,812 |
7.690% Bonds due 2050 | Petróleos Mexicanos | |
Supplemental information [line items] | |
Security | 7.69% |
Principal amount outstanding (U.S.$) | $ 8,047,831 |
6.500% Notes due 2029 | Petróleos Mexicanos | |
Supplemental information [line items] | |
Security | 6.50% |
Principal amount outstanding (U.S.$) | $ 1,204,708 |
6.875% Notes due 2025 | Petróleos Mexicanos | |
Supplemental information [line items] | |
Security | 6.875% |
Principal amount outstanding (U.S.$) | $ 901,836 |
8.750% Notes due 2029 | Petróleos Mexicanos | |
Supplemental information [line items] | |
Security | 8.75% |
Principal amount outstanding (U.S.$) | $ 1,908,685 |
6.700% Notes due 2032 | Petróleos Mexicanos | |
Supplemental information [line items] | |
Security | 6.70% |
Principal amount outstanding (U.S.$) | $ 6,787,190 |
10.000% Notes due 2033 | Petróleos Mexicanos | |
Supplemental information [line items] | |
Security | 10% |
Principal amount outstanding (U.S.$) | $ 1,972,663 |
Subsidiary Guarantor Informat_4
Subsidiary Guarantor Information - Supplemental Statement of Financial Position (Detail) - MXN ($) $ in Thousands | Jun. 30, 2024 | Dec. 31, 2023 | Jun. 30, 2023 | Dec. 31, 2022 |
Current assets | ||||
Cash and cash equivalents | $ 66,735,531 | $ 68,747,376 | $ 64,115,200 | $ 64,414,511 |
Trade and other accounts receivable, derivative financial instruments and other current assets | 295,289,871 | 357,757,378 | ||
Accounts receivable—inter-company | 0 | 0 | ||
Inventories | 103,558,205 | 112,035,992 | ||
Total current assets | 465,583,607 | 538,540,746 | ||
Long-term receivables—intercompany | 0 | 0 | ||
Investments in associates | 2,053,711 | 1,854,803 | ||
Wells, pipelines, properties, plant and equipment-net | 1,537,151,854 | 1,482,322,166 | 1,331,419,805 | |
Long-term notes receivable, net of current portion | 995,269 | 1,179,706 | ||
Rights of use assets | 44,215,877 | 43,203,180 | ||
Deferred taxes | 160,039,008 | 169,914,720 | ||
Intangible assets | 22,225,979 | 20,350,819 | ||
Government Bonds | 24,761,455 | 35,495,104 | ||
Other assets | 11,184,703 | 10,614,092 | ||
Total assets | 2,268,211,463 | 2,303,475,336 | ||
Current liabilities | ||||
Current portion of long-term debt | 396,301,477 | 477,221,594 | ||
Accounts payable—inter-company | 0 | 0 | ||
Other current liabilities | 616,300,067 | 646,496,067 | ||
Total current liabilities | 1,012,601,544 | 1,123,717,661 | ||
Long-term debt | 1,430,247,150 | 1,317,248,763 | ||
Long-term payables—inter-company | 0 | 0 | ||
Employee benefits, provisions for sundry creditors, other liabilities and deferred taxes | 1,431,112,216 | 1,515,487,722 | ||
Total liabilities | 3,873,960,910 | 3,956,454,146 | ||
Total equity (deficit) | (1,605,749,447) | (1,652,978,810) | (1,721,218,453) | (1,768,822,225) |
Total liabilities and equity (deficit) | 2,268,211,463 | 2,303,475,336 | ||
Eliminations | ||||
Current assets | ||||
Accounts receivable—inter-company | (3,615,022,678) | (3,073,564,574) | ||
Total current assets | (3,615,022,678) | (3,073,564,574) | ||
Long-term receivables—intercompany | (1,330,097,098) | (1,256,080,996) | ||
Investments in associates | 717,264,815 | 689,978,053 | ||
Total assets | (4,227,854,961) | (3,639,667,517) | ||
Current liabilities | ||||
Accounts payable—inter-company | (3,614,950,108) | (3,073,494,285) | ||
Total current liabilities | (3,614,950,108) | (3,073,494,285) | ||
Long-term payables—inter-company | (1,330,169,667) | (1,256,151,284) | ||
Total liabilities | (4,945,119,775) | (4,329,645,569) | ||
Total equity (deficit) | 717,264,814 | 689,978,052 | ||
Total liabilities and equity (deficit) | (4,227,854,961) | (3,639,667,517) | ||
Petróleos Mexicanos | ||||
Current assets | ||||
Cash and cash equivalents | 14,751,338 | 21,332,062 | 13,449,953 | 14,809,052 |
Trade and other accounts receivable, derivative financial instruments and other current assets | 39,633,319 | 44,210,424 | ||
Accounts receivable—inter-company | 2,137,700,397 | 1,779,552,352 | ||
Inventories | 1,910,970 | 1,657,768 | ||
Total current assets | 2,193,996,024 | 1,846,752,606 | ||
Long-term receivables—intercompany | 1,329,255,786 | 1,255,133,079 | ||
Investments in associates | (1,321,194,198) | (1,193,893,056) | ||
Wells, pipelines, properties, plant and equipment-net | 7,063,341 | 6,883,032 | ||
Rights of use assets | 753,386 | 1,054,650 | ||
Deferred taxes | 50,248,401 | 53,872,835 | ||
Intangible assets | 159,317 | 30,385 | ||
Government Bonds | 24,761,455 | 35,495,104 | ||
Total assets | 2,285,043,512 | 2,005,328,635 | ||
Current liabilities | ||||
Current portion of long-term debt | 324,150,510 | 407,016,329 | ||
Accounts payable—inter-company | 1,819,564,500 | 1,611,866,944 | ||
Other current liabilities | 65,026,042 | 49,017,649 | ||
Total current liabilities | 2,208,741,052 | 2,067,900,922 | ||
Long-term debt | 1,370,591,752 | 1,255,500,049 | ||
Employee benefits, provisions for sundry creditors, other liabilities and deferred taxes | 311,320,480 | 334,789,836 | ||
Total liabilities | 3,890,653,284 | 3,658,190,807 | ||
Total equity (deficit) | (1,605,609,772) | (1,652,862,172) | ||
Total liabilities and equity (deficit) | 2,285,043,512 | 2,005,328,635 | ||
Subsidiary guarantors | ||||
Current assets | ||||
Cash and cash equivalents | 10,716,940 | 8,121,798 | 13,035,929 | 11,293,133 |
Trade and other accounts receivable, derivative financial instruments and other current assets | 140,453,867 | 223,619,697 | ||
Accounts receivable—inter-company | 1,224,287,867 | 1,084,854,020 | ||
Inventories | 58,343,396 | 68,635,820 | ||
Total current assets | 1,433,802,070 | 1,385,231,335 | ||
Investments in associates | 344,308,140 | 273,172,532 | ||
Wells, pipelines, properties, plant and equipment-net | 1,161,640,439 | 1,152,610,684 | ||
Long-term notes receivable, net of current portion | 820,812 | 998,352 | ||
Rights of use assets | 39,896,092 | 38,529,258 | ||
Deferred taxes | 102,541,322 | 108,283,638 | ||
Intangible assets | 20,911,948 | 19,267,774 | ||
Other assets | 2,387,817 | 2,223,837 | ||
Total assets | 3,106,308,640 | 2,980,317,410 | ||
Current liabilities | ||||
Current portion of long-term debt | 19,973,799 | 17,773,661 | ||
Accounts payable—inter-company | 1,637,783,717 | 1,353,441,870 | ||
Other current liabilities | 462,313,258 | 491,387,451 | ||
Total current liabilities | 2,120,070,774 | 1,862,602,982 | ||
Long-term debt | 18,170,384 | 17,755,058 | ||
Long-term payables—inter-company | 1,329,255,786 | 1,255,133,079 | ||
Employee benefits, provisions for sundry creditors, other liabilities and deferred taxes | 1,098,675,190 | 1,162,988,573 | ||
Total liabilities | 4,566,172,134 | 4,298,479,692 | ||
Total equity (deficit) | (1,459,863,494) | (1,318,162,282) | ||
Total liabilities and equity (deficit) | 3,106,308,640 | 2,980,317,410 | ||
Non-guarantor subsidiaries | ||||
Current assets | ||||
Cash and cash equivalents | 41,267,253 | 39,293,516 | $ 37,629,318 | $ 38,312,326 |
Trade and other accounts receivable, derivative financial instruments and other current assets | 115,202,685 | 89,927,257 | ||
Accounts receivable—inter-company | 253,034,414 | 209,158,202 | ||
Inventories | 43,303,839 | 41,742,404 | ||
Total current assets | 452,808,191 | 380,121,379 | ||
Long-term receivables—intercompany | 841,312 | 947,917 | ||
Investments in associates | 261,674,954 | 232,597,274 | ||
Wells, pipelines, properties, plant and equipment-net | 368,448,074 | 322,828,450 | ||
Long-term notes receivable, net of current portion | 174,457 | 181,354 | ||
Rights of use assets | 3,566,399 | 3,619,272 | ||
Deferred taxes | 7,249,285 | 7,758,247 | ||
Intangible assets | 1,154,714 | 1,052,660 | ||
Other assets | 8,796,886 | 8,390,255 | ||
Total assets | 1,104,714,272 | 957,496,808 | ||
Current liabilities | ||||
Current portion of long-term debt | 52,177,168 | 52,431,604 | ||
Accounts payable—inter-company | 157,601,891 | 108,185,471 | ||
Other current liabilities | 88,960,767 | 106,090,967 | ||
Total current liabilities | 298,739,826 | 266,708,042 | ||
Long-term debt | 41,485,014 | 43,993,656 | ||
Long-term payables—inter-company | 913,881 | 1,018,205 | ||
Employee benefits, provisions for sundry creditors, other liabilities and deferred taxes | 21,116,546 | 17,709,313 | ||
Total liabilities | 362,255,267 | 329,429,216 | ||
Total equity (deficit) | 742,459,005 | 628,067,592 | ||
Total liabilities and equity (deficit) | $ 1,104,714,272 | $ 957,496,808 |
Subsidiary Guarantor Informat_5
Subsidiary Guarantor Information - Supplemental Statement of Comprehensive Income (Detail) - MXN ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2024 | Jun. 30, 2023 | Jun. 30, 2024 | Jun. 30, 2023 | |
Supplemental information [line items] | ||||
Total revenues | $ 408,844,951 | $ 412,579,540 | $ 814,064,308 | $ 830,492,936 |
Services income | 683,115 | 1,577,316 | 1,362,137 | 2,102,903 |
Total revenues | 409,528,066 | 414,156,856 | 815,426,445 | 832,595,839 |
(Impairment) of wells, pipelines, properties, plant and equipment | (17,548,991) | (66,084,491) | ||
Cost of sales | 363,565,950 | 328,562,776 | 685,751,323 | 632,545,139 |
Gross income | 36,058,968 | 59,646,977 | 112,126,131 | 133,966,209 |
Total general expenses | 92,209,076 | 86,973,820 | ||
Other income (loss), net | 5,128,569 | 9,500,100 | ||
Operating income | (11,351,889) | 21,516,390 | 25,045,624 | 56,492,489 |
Financing cost, net | (76,689,348) | (63,767,947) | ||
Foreign exchange income (loss), net | (126,295,142) | 230,676,132 | ||
Profit sharing in associates | 234,319 | 42,013 | 265,216 | 151,969 |
Income before duties, taxes and other | (214,224,828) | 95,011,704 | (177,673,650) | 223,552,643 |
Total taxes, duties and other | 90,973,707 | 141,393,488 | ||
Net (loss) income | (273,329,563) | 25,423,379 | (268,647,357) | 82,159,155 |
Total other comprehensive result | 176,865,882 | (23,999,531) | 170,876,720 | (52,255,383) |
Total comprehensive income (loss) | $ (96,463,681) | $ 1,423,848 | (97,770,637) | 29,903,772 |
Eliminations | ||||
Supplemental information [line items] | ||||
Total revenues | (707,948,644) | (669,541,501) | ||
Services income | (81,678,384) | (110,162,204) | ||
Total revenues | (789,627,028) | (779,703,705) | ||
Cost of sales | (769,704,563) | (733,559,272) | ||
Gross income | (19,922,465) | (46,144,433) | ||
Total general expenses | (19,835,896) | (45,977,299) | ||
Other income (loss), net | 85,701 | 170,720 | ||
Operating income | (868) | 3,586 | ||
Financing cost, net | 870 | (3,585) | ||
Profit sharing in associates | 257,010,420 | (147,196,962) | ||
Income before duties, taxes and other | 257,010,422 | (147,196,961) | ||
Net (loss) income | 257,010,422 | (147,196,961) | ||
Total comprehensive income (loss) | 257,010,422 | (147,196,961) | ||
Petróleos Mexicanos | ||||
Supplemental information [line items] | ||||
Services income | 20,681,143 | 45,035,270 | ||
Total revenues | 20,681,143 | 45,035,270 | ||
Cost of sales | 550,181 | 460,531 | ||
Gross income | 20,130,962 | 44,574,739 | ||
Total general expenses | 40,794,643 | 38,149,619 | ||
Other income (loss), net | 81,479 | 632,971 | ||
Operating income | (20,582,202) | 7,058,091 | ||
Financing cost, net | 429,937 | (29,017,169) | ||
Foreign exchange income (loss), net | 21,003,651 | (10,448,807) | ||
Profit sharing in associates | (260,831,141) | 113,450,915 | ||
Income before duties, taxes and other | (259,979,755) | 81,043,030 | ||
Total taxes, duties and other | 8,639,331 | (1,147,993) | ||
Net (loss) income | (268,619,086) | 82,191,023 | ||
Total other comprehensive result | 36,555,131 | |||
Total comprehensive income (loss) | (232,063,955) | 82,191,023 | ||
Subsidiary guarantors | ||||
Supplemental information [line items] | ||||
Total revenues | 922,654,418 | 964,612,744 | ||
Services income | 49,294,906 | 58,406,395 | ||
Total revenues | 971,949,324 | 1,023,019,139 | ||
(Impairment) of wells, pipelines, properties, plant and equipment | (17,548,991) | (66,084,491) | ||
Cost of sales | 858,074,658 | 842,537,312 | ||
Gross income | 96,325,675 | 114,397,336 | ||
Total general expenses | 65,349,242 | 89,782,055 | ||
Other income (loss), net | 3,706,307 | 6,831,617 | ||
Operating income | 34,682,740 | 31,446,898 | ||
Financing cost, net | (73,633,870) | (31,880,276) | ||
Foreign exchange income (loss), net | (145,304,741) | 236,709,116 | ||
Profit sharing in associates | (373,953) | 2,500,777 | ||
Income before duties, taxes and other | (184,629,824) | 238,776,515 | ||
Total taxes, duties and other | 80,418,825 | 141,775,172 | ||
Net (loss) income | (265,048,649) | 97,001,343 | ||
Total other comprehensive result | 94,543,031 | |||
Total comprehensive income (loss) | (170,505,618) | 97,001,343 | ||
Non-guarantor subsidiaries | ||||
Supplemental information [line items] | ||||
Total revenues | 599,358,534 | 535,421,693 | ||
Services income | 13,064,472 | 8,823,442 | ||
Total revenues | 612,423,006 | 544,245,135 | ||
(Impairment) of wells, pipelines, properties, plant and equipment | 0 | |||
Cost of sales | 596,831,047 | 523,106,568 | ||
Gross income | 15,591,959 | 21,138,567 | ||
Total general expenses | 5,901,087 | 5,019,445 | ||
Other income (loss), net | 1,255,082 | 1,864,792 | ||
Operating income | 10,945,954 | 17,983,914 | ||
Financing cost, net | (3,486,285) | (2,866,917) | ||
Foreign exchange income (loss), net | (1,994,052) | 4,415,823 | ||
Profit sharing in associates | 4,459,890 | 31,397,239 | ||
Income before duties, taxes and other | 9,925,507 | 50,930,059 | ||
Total taxes, duties and other | 1,915,551 | 766,309 | ||
Net (loss) income | 8,009,956 | 50,163,750 | ||
Total other comprehensive result | 39,778,558 | (52,255,383) | ||
Total comprehensive income (loss) | $ 47,788,514 | $ (2,091,633) |
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, 2024 MXN ($) | Jun. 30, 2023 MXN ($) | Jun. 30, 2024 MXN ($) | Jun. 30, 2024 USD ($) | Jun. 30, 2023 MXN ($) | |
Operating activities: | |||||
Net income (loss) | $ (268,647,357) | $ 82,159,155 | |||
Total duties, taxes and other | 90,973,707 | 141,393,488 | |||
Depreciation and amortization of wells, pipelines, properties, plant and equipment | $ 41,377,932 | $ 28,735,620 | 74,258,629 | 56,791,178 | |
Amortization of intangible assets | 176,074 | 196,096 | |||
Impairment of wells, pipelines, properties, plant and equipment | 17,548,991 | 66,084,491 | |||
Capitalized unsuccessful wells | 4,492,742 | 1,437,971 | |||
Unsuccessful wells from intangible assets | 10,836,456 | 15,667,953 | |||
Loss from disposal of wells, pipelines, properties, plant and equipment | 2,308,100 | 3,454,946 | |||
Depreciation of rights of use | 1,496,030 | 1,077,918 | 2,915,676 | 2,385,577 | |
Cancellation of leases | 0 | (122,679) | |||
Unrealized foreign exchange loss in discount rate of reserve for well abandonment | 2,369,541 | 2,024,600 | |||
Loss (profit) sharing in joint ventures and associates | (265,216) | (151,969) | |||
Unrealized foreign exchange (income) loss | 120,285,924 | (212,796,067) | |||
Interest expense | 71,100,482 | 74,780,817 | |||
Financing income | (10,194,451) | (8,224,531) | |||
Duties and taxes | (131,921,920) | (93,012,117) | |||
Accounts receivable, inventories, accounts payable, DFIs and provisions | 120,970,566 | 12,365,365 | |||
Employee benefits | 28,437,611 | 29,971,712 | |||
Net cash flows from operating activities | 135,645,555 | 174,405,986 | |||
Investing activities: | |||||
Acquisition of wells, pipelines, properties, plant and equipment and intangible assets | (161,570,923) | (138,527,101) | |||
Other assets and other receivables | 6,166,811 | 11,728,468 | |||
Net cash flows (used in) investing activities | (155,404,112) | (126,798,633) | |||
Financing activities: | |||||
Increase in equity due to Certificates of Contribution “A” | 145,000,000 | 17,700,000 | |||
Collection and interest collected from the Mexican Government | 13,497,342 | 32,449,191 | |||
Lease payments (principal and interest) | (4,326,617) | (3,975,374) | |||
Loans obtained from financial institutions | 536,422,333 | 431,659,853 | |||
Debt payments, principal only | (620,190,507) | $ (983,776) | (436,838,825) | ||
Interest paid | (70,733,122) | (75,009,928) | |||
Net cash flows (used in) financing activities | (330,571) | (34,015,083) | |||
Net increase (decrease) in cash and cash equivalents | (20,089,128) | 13,592,270 | |||
Effects of foreign exchange on cash balances | 18,077,283 | (13,891,581) | |||
Cash and cash equivalents at the beginning of the year | 68,747,376 | 64,414,511 | |||
Cash and cash equivalents at the end of the period (Note 9) | 66,735,531 | 64,115,200 | 66,735,531 | 64,115,200 | |
Eliminations | |||||
Operating activities: | |||||
Net income (loss) | 257,010,422 | (147,196,961) | |||
Loss (profit) sharing in joint ventures and associates | (257,010,420) | 145,184,133 | |||
Inter-company charges and deductions | 423,611,736 | (46,456,238) | |||
Net cash flows from operating activities | 423,611,738 | (48,469,066) | |||
Investing activities: | |||||
(Increase) decrease due to Inter-company investing | 191,862,468 | (243,573,176) | |||
Net cash flows (used in) investing activities | 191,862,468 | (243,573,176) | |||
Financing activities: | |||||
Inter-company increase (decrease) financing | (615,474,206) | 292,042,242 | |||
Net cash flows (used in) financing activities | (615,474,206) | 292,042,242 | |||
Petróleos Mexicanos | |||||
Operating activities: | |||||
Net income (loss) | (268,619,086) | 82,191,023 | |||
Total duties, taxes and other | 8,639,331 | (1,147,993) | |||
Depreciation and amortization of wells, pipelines, properties, plant and equipment | 284,137 | 283,832 | |||
Amortization of intangible assets | 120,370 | 148,197 | |||
Loss from disposal of wells, pipelines, properties, plant and equipment | 73,346 | 14 | |||
Depreciation of rights of use | 301,264 | 294,821 | |||
Cancellation of leases | (124,191) | ||||
Loss (profit) sharing in joint ventures and associates | 260,831,141 | (113,450,915) | |||
Unrealized foreign exchange (income) loss | 106,241,032 | (190,694,401) | |||
Interest expense | 65,947,218 | 65,163,379 | |||
Financing income | (4,648,274) | (5,953,863) | |||
Duties and taxes | (3,645,278) | 370,291 | |||
Accounts receivable, inventories, accounts payable, DFIs and provisions | 22,021,534 | 6,637,569 | |||
Employee benefits | 10,344,362 | 8,076,244 | |||
Inter-company charges and deductions | (223,822,780) | (27,299,944) | |||
Net cash flows from operating activities | (25,931,683) | (175,505,937) | |||
Investing activities: | |||||
Acquisition of wells, pipelines, properties, plant and equipment and intangible assets | (791,371) | (671,888) | |||
Other assets and other receivables | 1,743,854 | 1,287,803 | |||
(Increase) decrease due to Inter-company investing | (207,652,706) | 243,312,338 | |||
Net cash flows (used in) investing activities | (206,700,223) | 243,928,253 | |||
Financing activities: | |||||
Increase in equity due to Certificates of Contribution “A” | 145,000,000 | 17,700,000 | |||
Collection and interest collected from the Mexican Government | 13,497,342 | 32,449,191 | |||
Lease payments (principal and interest) | (225,131) | (331,046) | |||
Loans obtained from financial institutions | 206,392,226 | 186,742,632 | |||
Debt payments, principal only | (276,498,585) | (184,323,260) | |||
Interest paid | (69,812,226) | (70,713,213) | |||
Inter-company increase (decrease) financing | 207,697,556 | (51,305,719) | |||
Net cash flows (used in) financing activities | 226,051,182 | (69,781,415) | |||
Net increase (decrease) in cash and cash equivalents | (6,580,724) | (1,359,099) | |||
Cash and cash equivalents at the beginning of the year | 21,332,062 | 14,809,052 | |||
Cash and cash equivalents at the end of the period (Note 9) | 14,751,338 | 13,449,953 | 14,751,338 | 13,449,953 | |
Subsidiary guarantors | |||||
Operating activities: | |||||
Net income (loss) | (265,048,649) | 97,001,343 | |||
Total duties, taxes and other | 80,418,824 | 141,775,172 | |||
Depreciation and amortization of wells, pipelines, properties, plant and equipment | 71,593,632 | 54,269,423 | |||
Amortization of intangible assets | 11,148 | 10,213 | |||
Impairment of wells, pipelines, properties, plant and equipment | 17,548,991 | 66,084,491 | |||
Capitalized unsuccessful wells | 4,492,742 | 1,437,971 | |||
Unsuccessful wells from intangible assets | 10,836,456 | 15,667,953 | |||
Loss from disposal of wells, pipelines, properties, plant and equipment | 2,464,759 | 1,266,601 | |||
Depreciation of rights of use | 1,912,000 | 1,912,430 | |||
Unrealized foreign exchange loss in discount rate of reserve for well abandonment | 2,369,541 | 2,024,600 | |||
Loss (profit) sharing in joint ventures and associates | 373,953 | (2,001,116) | |||
Unrealized foreign exchange (income) loss | 9,287,579 | (15,016,726) | |||
Interest expense | 1,210,804 | 6,312,376 | |||
Financing income | (4,361,078) | (1,679,381) | |||
Duties and taxes | (129,007,832) | (91,561,760) | |||
Accounts receivable, inventories, accounts payable, DFIs and provisions | 112,825,868 | 32,450,467 | |||
Employee benefits | 17,965,840 | 21,866,558 | |||
Inter-company charges and deductions | (182,138,998) | 33,634,743 | |||
Net cash flows from operating activities | (247,244,420) | 365,455,358 | |||
Investing activities: | |||||
Acquisition of wells, pipelines, properties, plant and equipment and intangible assets | (104,251,526) | (102,774,574) | |||
Other assets and other receivables | 2,450,275 | 1,965,057 | |||
Net cash flows (used in) investing activities | (101,801,251) | (100,809,517) | |||
Financing activities: | |||||
Lease payments (principal and interest) | (3,320,652) | (3,243,395) | |||
Loans obtained from financial institutions | 18,079,220 | 16,948,432 | |||
Debt payments, principal only | (19,010,190) | (21,434,858) | |||
Interest paid | (2,572,120) | (4,838,220) | |||
Inter-company increase (decrease) financing | 358,464,555 | (250,335,004) | |||
Net cash flows (used in) financing activities | 351,640,813 | (262,903,045) | |||
Net increase (decrease) in cash and cash equivalents | 2,595,142 | 1,742,796 | |||
Cash and cash equivalents at the beginning of the year | 8,121,798 | 11,293,133 | |||
Cash and cash equivalents at the end of the period (Note 9) | 10,716,940 | 13,035,929 | 10,716,940 | 13,035,929 | |
Non-guarantor subsidiaries | |||||
Operating activities: | |||||
Net income (loss) | 8,009,956 | 50,163,750 | |||
Total duties, taxes and other | 1,915,552 | 766,309 | |||
Depreciation and amortization of wells, pipelines, properties, plant and equipment | 2,380,860 | 2,237,923 | |||
Amortization of intangible assets | 44,556 | 37,686 | |||
Loss from disposal of wells, pipelines, properties, plant and equipment | (230,005) | 2,188,331 | |||
Depreciation of rights of use | 702,412 | 178,326 | |||
Cancellation of leases | 1,512 | ||||
Loss (profit) sharing in joint ventures and associates | (4,459,890) | (29,884,071) | |||
Unrealized foreign exchange (income) loss | 4,757,313 | (7,084,940) | |||
Interest expense | 3,942,460 | 3,305,062 | |||
Financing income | (1,185,099) | (591,287) | |||
Duties and taxes | 731,190 | (1,820,648) | |||
Accounts receivable, inventories, accounts payable, DFIs and provisions | (13,876,836) | (26,722,671) | |||
Employee benefits | 127,409 | 28,910 | |||
Inter-company charges and deductions | (17,649,958) | 40,121,439 | |||
Net cash flows from operating activities | (14,790,080) | 32,925,631 | |||
Investing activities: | |||||
Acquisition of wells, pipelines, properties, plant and equipment and intangible assets | (56,528,026) | (35,080,639) | |||
Other assets and other receivables | 1,972,682 | 8,475,608 | |||
(Increase) decrease due to Inter-company investing | 15,790,238 | 260,838 | |||
Net cash flows (used in) investing activities | (38,765,106) | (26,344,193) | |||
Financing activities: | |||||
Lease payments (principal and interest) | (780,834) | (400,933) | |||
Loans obtained from financial institutions | 311,950,887 | 227,968,789 | |||
Debt payments, principal only | (324,681,732) | (231,080,707) | |||
Interest paid | 1,651,224 | 541,505 | |||
Inter-company increase (decrease) financing | 49,312,095 | 9,598,481 | |||
Net cash flows (used in) financing activities | 37,451,640 | 6,627,135 | |||
Net increase (decrease) in cash and cash equivalents | (16,103,546) | 13,208,573 | |||
Effects of foreign exchange on cash balances | 18,077,283 | (13,891,581) | |||
Cash and cash equivalents at the beginning of the year | 39,293,516 | 38,312,326 | |||
Cash and cash equivalents at the end of the period (Note 9) | $ 41,267,253 | $ 37,629,318 | $ 41,267,253 | $ 37,629,318 |