Mexican Petroleum 20-F 2002 FY Annual report (foreign)

EXHIBIT 7.1

Computation of ratio of earnings to fixed charges
(thousands of pesos)

		Year ended December 31
		2002		2001		2000		1999		1998
Mexican GAAP
	Fixed charges:
	Interest capitalized in fixed assets	5,259,078		3,779,541		3,913,180		5,119,428		3,329,393
	Interest in the specific reserve for exploration and depletion	48,132		86,553		814,739		864,553		803,361
	Interest expense	19,610,439		15,832,884		15,618,066		9,846,918		6,568,022
Total interest cost		24,917,649		19,698,978		20,345,985		15,830,899		10,700,776
Total Fixed Charges		24,917,649		19,698,978		20,345,985		15,830,899		10,700,776
Earnings after IEPS taxes and Hydrocarbon
Extraction duties		(30,492,113	)	(34,090,587	)	(19,710,392	)	(21,156,771	)	(11,587,990	)
Fixed Charges:
	Interest cost net of amounts capitalized	19,610,439		15,832,884		15,618,066		9,846,918		6,568,022
Total Fixed Charges (Net of amounts capitalized)		19,610,439		15,832,884		15,618,066		9,846,918		6,568,022
Earnings after taxes and duties plus fixed charges (net of amounts capitalized)		(10,881,674	)	(18,257,703	)	(4,092,326	)	(11,309,853	)	(5,019,968	)
	Ratio of earnings to fixed charges	(0.44	)	(0.93	)	(0.20	)	(0.71	)	(0.47	)

*

This figures not included Rental expense

Computation of ratio of earnings to fixed charges
(thousands of pesos)

		Year ended December 31
		2002		2001		2000		1999		1998
U.S. GAAP
	Fixed Charges:
	Interest capitalized in fixed assets	5,722,573		5,112,410		4,273,611		5,713,187		4,412,094
	Interest expense	19,195,076		14,586,568		16,072,374		10,117,712		6,288,682
Total interest cost		24,917,649		19,698,978		20,345,985		15,830,899		10,700,776
Total Fixed Charges		24,917,649		19,698,978		20,345,985		15,830,899		10,700,776
Income Earnings after taxes and duties		(32,799,899	)	(25,444,111	)	(16,696,716	)	(15,370,295	)	(27,364,258	)
Fixed Charges:
	Interest cost net of amounts Capitalized	19,195,076		14,586,568		16,072,374		10,117,712		6,288,682
Total Fixed Charges (Net of amounts capitalized)		19,195,076		14,586,568		16,072,374		10,117,712		6,288,682
Earnings after taxes and duties plus fixed charges (net of amounts capitalized)		(13,604,823	)	(10,857,543	)	(624,342	)	(5,252,583	)	(21,075,576	)
	Ratio of earnings to fixed charges	(0.55	)	(0.55	)	(0.03	)	(0.33	)	(1.97	)

*

This figures not included Rental expense