Cover Page
Cover Page | 9 Months Ended |
Sep. 30, 2022 | |
Cover [Abstract] | |
Document Type | 6-K |
Entity Registrant Name | MEXICAN PETROLEUM |
Amendment Flag | false |
Document Period End Date | Sep. 30, 2022 |
Document Fiscal Year Focus | 2022 |
Document Fiscal Period Focus | Q3 |
Entity Central Index Key | 0000932782 |
Current Fiscal Year End Date | --12-31 |
UNAUDITED CONDENSED CONSOLIDATE
UNAUDITED CONDENSED CONSOLIDATED INTERIM STATEMENTS OF FINANCIAL POSITION - MXN ($) $ in Thousands | Sep. 30, 2022 | Dec. 31, 2021 |
Current assets: | ||
Cash and cash equivalents | $ 62,271,071 | $ 76,506,447 |
Customers | 130,514,339 | 101,259,081 |
Other financing receivable | 34,472,982 | 40,787,153 |
Other non-financing receivable | 124,315,348 | 136,350,115 |
Inventories | 170,787,677 | 86,113,142 |
Current portion of the Government bonds | 32,126,173 | 1,253,451 |
Derivative financial instruments | 10,499,136 | 12,473,967 |
Other current assets | 6,014,319 | 3,650,688 |
Total current assets | 571,001,045 | 458,394,044 |
Non-current assets: | ||
Investments in joint ventures and associates | 2,107,628 | 2,254,952 |
Wells, pipelines, properties, plant and equipment, net | 1,451,531,756 | 1,274,532,607 |
Rights of use | 51,503,406 | 54,283,458 |
Long-term notes receivable, net of current portion | 1,414,291 | 1,646,290 |
Long-term portion of the Government bonds | 79,595,831 | 109,601,905 |
Deferred income taxes and duties | 83,372,144 | 92,255,839 |
Intangible assets, net | 31,466,484 | 20,016,146 |
Other assets | 44,386,717 | 39,112,930 |
Total non-current assets | 1,745,378,257 | 1,593,704,127 |
Total assets | 2,316,379,302 | 2,052,098,171 |
Current liabilities: | ||
Short-term debt and current portion of long-term debt | 420,323,023 | 492,283,613 |
Short-term leases | 7,330,430 | 7,902,874 |
Suppliers | 262,654,610 | 264,056,358 |
Income taxes and duties payable | 91,970,451 | 112,753,591 |
Accounts and accrued expenses payable and advanced payments from customers | 70,462,522 | 32,015,808 |
Derivative financial instruments | 39,711,214 | 13,636,086 |
Total current liabilities | 892,452,250 | 922,648,330 |
Long-term liabilities: | ||
Long-term debt, net of current portion | 1,712,490,364 | 1,757,412,281 |
Long-term leases, net of current portion | 47,680,850 | 51,448,775 |
Employee benefits | 1,148,730,898 | 1,384,071,648 |
Provisions for sundry creditors | 98,159,534 | 92,397,666 |
Other liabilities | 12,184,413 | 10,778,904 |
Deferred income taxes and duties | 3,296,247 | 3,341,350 |
Total long-term liabilities | 3,022,542,306 | 3,299,450,624 |
Total liabilities | 3,914,994,556 | 4,222,098,954 |
Controlling interest: | ||
Certificates of Contribution “A” | 949,275,582 | 841,285,576 |
Mexican Government contributions | 66,730,591 | 43,730,591 |
Legal reserve | 1,002,130 | 1,002,130 |
Accumulated other comprehensive result | 206,641,063 | (38,139,514) |
Accumulated deficit: | ||
From prior years | (3,018,008,068) | (2,723,475,900) |
Net income (loss) for the period | 195,914,072 | (294,532,168) |
Total controlling interest | (1,598,444,630) | (2,170,129,285) |
Total non-controlling interest | (170,624) | 128,502 |
Total equity (deficit) | (1,598,615,254) | (2,170,000,783) |
Total liabilities and equity (deficit) | $ 2,316,379,302 | $ 2,052,098,171 |
UNAUDITED CONDENSED CONSOLIDA_2
UNAUDITED CONDENSED CONSOLIDATED INTERIM STATEMENTS OF COMPREHENSIVE INCOME - MXN ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2022 | Sep. 30, 2021 | Sep. 30, 2022 | Sep. 30, 2021 | |
Net sales: | ||||
Domestic | $ 320,776,599 | $ 189,523,448 | $ 908,819,368 | $ 533,850,612 |
Incentive for automotive fuels | 28,665,402 | 0 | 103,720,586 | 0 |
Export | 280,079,826 | 193,772,029 | 850,812,209 | 512,370,010 |
Services income | 1,293,262 | 1,414,230 | 4,560,978 | 3,477,957 |
Total of sales | 630,815,089 | 384,709,707 | 1,867,913,141 | 1,049,698,579 |
Reversal of impairment of wells, pipelines, properties, plant and equipment, net | (7,254,264) | 6,050,004 | 56,873,846 | 38,242,464 |
Cost of sales | 475,937,325 | 268,452,309 | 1,274,735,408 | 732,291,029 |
Gross income | 147,623,500 | 122,307,402 | 650,051,579 | 355,650,014 |
Distribution, transportation and sale expenses | 4,260,756 | 2,476,971 | 10,983,602 | 9,390,723 |
Administrative expenses | 37,760,320 | 38,239,566 | 112,258,337 | 105,489,921 |
Other revenues | 12,725,689 | 6,865,156 | 36,798,482 | 12,348,570 |
Other expenses | (2,255,555) | (2,613,251) | (5,694,879) | (3,569,068) |
Operating income | 116,072,558 | 85,842,770 | 557,913,243 | 249,548,872 |
Financing income | 3,652,514 | 4,862,882 | 20,957,224 | 20,083,884 |
Financing cost | (45,543,598) | (36,248,904) | (109,790,653) | (110,411,972) |
Derivative financial instruments (cost), net | (12,982,694) | (9,274,432) | (37,491,847) | (21,632,280) |
Foreign exchange gain (loss), net | (9,343,509) | (47,003,832) | 72,106,662 | (23,407,879) |
Sum of financing income (cost), net, derivative instruments (cost), net and foreign exchange gain (loss), net | (64,217,287) | (87,664,286) | (54,218,614) | (135,368,247) |
Profit (loss) sharing in joint ventures and associates | 71,201 | 41,601 | 232,349 | (3,166,683) |
Income before duties, taxes and other | 51,926,472 | (1,779,915) | 503,926,978 | 111,013,942 |
Profit-sharing duty, net | 106,836,892 | 78,338,315 | 314,147,276 | 213,889,840 |
Income tax (benefit) | (2,877,072) | (2,873,818) | (5,836,057) | (2,638,122) |
Total duties, taxes and other | 103,959,820 | 75,464,497 | 308,311,219 | 211,251,718 |
Net income (loss) | (52,033,348) | (77,244,412) | 195,615,759 | (100,237,776) |
Currency translation effect | 4,161,059 | 5,170,905 | (14,995,059) | 4,920,156 |
Actuarial gains - employee benefits, net of taxes | 101,382,033 | (9,045) | 259,774,823 | 241,528,141 |
Total other comprehensive results | 105,543,092 | 5,161,860 | 244,779,764 | 246,448,297 |
Total comprehensive income | 53,509,744 | (72,082,552) | 440,395,523 | 146,210,521 |
Net income (loss) attributable to: | ||||
Controlling interest | (52,003,411) | (77,208,825) | 195,914,072 | (100,094,174) |
Non-controlling interest | (29,937) | (35,587) | (298,313) | (143,602) |
Net income (loss) | (52,033,348) | (77,244,412) | 195,615,759 | (100,237,776) |
Other comprehensive results attributable to: | ||||
Controlling interest | 105,542,608 | 5,160,808 | 244,780,577 | 246,447,519 |
Non-controlling interest | 484 | 1,052 | (813) | 778 |
Total other comprehensive results | 105,543,092 | 5,161,860 | 244,779,764 | 246,448,297 |
Comprehensive income (loss): | ||||
Controlling interest | 53,539,197 | (72,048,017) | 440,694,649 | 146,353,345 |
Non-controlling interest | (29,453) | (34,535) | (299,126) | (142,824) |
Total comprehensive income | $ 53,509,744 | $ (72,082,552) | $ 440,395,523 | $ 146,210,521 |
UNAUDITED CONDENSED CONSOLIDA_3
UNAUDITED CONDENSED CONSOLIDATED INTERIM STATEMENTS OF CHANGES IN EQUITY (DEFICIT), NET - MXN ($) $ in Thousands | Total | Increase in Mexican Government contributions | Certificates of Contribution “A” | Certificates of Contribution “A” Increase in Mexican Government contributions | Mexican Government contributions | Legal reserve | Accumulated other comprehensive income (loss) Cumulative currency translation effect | Accumulated other comprehensive income (loss) Actuarial (losses) gains on employee benefits effect | Accumulated deficit, For the period | Accumulated deficit, From prior years | Total | Total Increase in Mexican Government contributions | Non- controlling interest |
Beginning balance at Dec. 31, 2020 | $ (2,404,727,030) | $ 524,931,447 | $ 43,730,591 | $ 1,002,130 | $ 51,201,257 | $ (302,486,247) | $ (508,878,813) | $ (2,214,597,087) | $ (2,405,096,722) | $ 369,692 | |||
Transfer to accumulated deficit | 508,878,813 | (508,878,813) | |||||||||||
Increase in Mexican Government contributions | $ 167,850,000 | $ 167,850,000 | $ 167,850,000 | ||||||||||
Total comprehensive income (loss) | 146,210,521 | 4,919,378 | 241,528,141 | (100,094,174) | 146,353,345 | (142,824) | |||||||
Ending Balance at Sep. 30, 2021 | (2,090,666,509) | 692,781,447 | 43,730,591 | 1,002,130 | 56,120,635 | (60,958,106) | (100,094,174) | (2,723,475,900) | (2,090,893,377) | 226,868 | |||
Beginning balance at Dec. 31, 2021 | (2,170,000,783) | 841,285,576 | 43,730,591 | 1,002,130 | 58,945,725 | (97,085,239) | (294,532,168) | (2,723,475,900) | (2,170,129,285) | 128,502 | |||
Transfer to accumulated deficit | 294,532,168 | (294,532,168) | |||||||||||
Increase in Mexican Government contributions | $ 107,990,006 | $ 107,990,006 | $ 107,990,006 | ||||||||||
Proceeds from FONADIN grants | 23,000,000 | 23,000,000 | 23,000,000 | ||||||||||
Total comprehensive income (loss) | 440,395,523 | (14,994,246) | 259,774,823 | 195,914,072 | 440,694,649 | (299,126) | |||||||
Ending Balance at Sep. 30, 2022 | $ (1,598,615,254) | $ 949,275,582 | $ 66,730,591 | $ 1,002,130 | $ 43,951,479 | $ 162,689,584 | $ 195,914,072 | $ (3,018,008,068) | $ (1,598,444,630) | $ (170,624) |
UNAUDITED CONDENSED CONSOLIDA_4
UNAUDITED CONDENSED CONSOLIDATED INTERIM FINANCIAL STATEMENTS OF CASH FLOWS - MXN ($) $ in Thousands | 9 Months Ended | |
Sep. 30, 2022 | Sep. 30, 2021 | |
Operating activities | ||
Net income (loss) | $ 195,615,759 | $ (100,237,776) |
Items related to investment activities: | ||
Income taxes and duties | 308,311,219 | 211,251,718 |
Depreciation and amortization of wells, pipelines, properties, plant and equipment | 106,232,390 | 100,620,021 |
Amortization of intangible assets | 253,119 | 113,020 |
Reversal of impairment of wells, pipelines, properties, plant and equipment, net | (56,873,846) | (38,242,464) |
Capitalized unsuccessful wells | 6,059,460 | 11,663,560 |
Unsuccessful wells from intangible assets | 6,870,430 | 9,676,416 |
Loss from derecognition of wells, pipelines, properties, plant and equipment | 5,514,250 | 214,580 |
Depreciation of rights of use | 4,334,169 | 4,744,781 |
Reversal of impairment of rights of use | 0 | (87,025) |
Unrealized foreign exchange (income) of reserve for well abandonment | 2,448,648 | 2,444,904 |
Reclassification of translation effect | (10,383,296) | 0 |
(Gains) from business acquisitions | (1,271,188) | 0 |
Loss (profit) sharing in joint ventures and associates | (232,349) | 3,166,683 |
Unrealized foreign exchange loss (income) | (67,351,642) | 21,861,801 |
Interest expense | 109,790,653 | 110,411,972 |
Interest income | (20,957,224) | (20,083,884) |
Funds from (used in) operating activities | 588,360,552 | 317,518,307 |
Funds from (used in) operating activities | ||
Profit-sharing duty and income tax paid | (308,481,212) | (197,176,600) |
Derivative financial instruments | 28,049,959 | 15,738,296 |
Accounts receivable | 5,647,047 | (28,963,559) |
Inventories | (67,981,188) | (23,399,928) |
Suppliers | 5,794,694 | (35,300,386) |
Accounts payable, accrued expenses payable and advance payments from customers | 38,446,714 | 6,733,900 |
Provisions for sundry creditors | 4,027,154 | 6,061,346 |
Employee benefits | 41,865,824 | 33,539,425 |
Other taxes and duties | (38,090,001) | 4,868,717 |
Net cash flows from operating activities | 297,639,543 | 99,619,518 |
Investing activities | ||
Interest collected | 1,385,254 | 458,536 |
Business acquisition | (30,012,487) | 0 |
Other assets | (7,505,757) | (34,910,386) |
Acquisition of wells, pipelines, properties, plant and equipment | (212,374,941) | (128,735,735) |
Acquisition of intangible assets | (25,917,291) | (15,779,360) |
Net cash flows (used in) investing activities | (274,425,222) | (178,966,945) |
Financing activities | ||
Increase in equity due to Certificates of Contribution “A” | 107,990,006 | 167,850,000 |
Proceeds from FONADIN grants | 23,000,000 | 0 |
Interest received for long-term receivable from the Mexican Government | 6,215,759 | 5,859,566 |
Lease payments | (5,120,737) | (6,220,285) |
Interest of lease paid | (2,427,087) | (2,724,759) |
Loans obtained from financial institutions | 759,198,720 | 1,058,854,764 |
Debt payments, principal only | (799,148,919) | (1,027,818,098) |
Interest paid | (123,300,926) | (123,430,793) |
Net cash flows (used in) from financing activities | (33,593,184) | 72,370,395 |
Net (decrease) increase in cash and cash equivalents | (10,378,863) | (6,977,032) |
Effects of foreign exchange on cash balances | (3,856,513) | 6,627,952 |
Cash and cash equivalents at the beginning of the year | 76,506,447 | 39,989,781 |
Cash and cash equivalents at the end of the period (Note 9) | $ 62,271,071 | $ 39,640,701 |
Structure and Business Operatio
Structure and Business Operations of Petroleos Mexicanos, Subsidiary Entities and Subsidiary Companies | 9 Months Ended |
Sep. 30, 2022 | |
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 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; 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 | 9 Months Ended |
Sep. 30, 2022 | |
Disclosure Of Basis Of Preparation [abstract] | |
Authorization and Basis of Preparation | AUTHORIZATION AND BASIS OF PREPARATION Authorization – On December 20, 2022, these unaudited condensed consolidated interim financial statements under the International Financial Reporting Standards (“IFRS”) and the notes hereto were authorized for issuance by the following officers: Mr. Octavio Romero Oropeza, Chief Executive Officer, Mr. Carlos Fernando Cortez González, Acting Chief Financial Officer, Mr. Jose Maria del Olmo Blanco, Acting Deputy Director of Budgeting and Accounting, and Mr. Oscar René Orozco Piliado, Associate Managing Director of Accounting. Basis of preparation – A. Statement of compliance PEMEX prepared its unaudited condensed consolidated interim financial statements as of September 30, 2022 and December 31, 2021, and for the nine-month periods ended September 30, 2022 and 2021, in accordance with IAS 34, “Interim Financial Reporting” (“IAS 34”) under IFRS as issued by the International Accounting Standards Board (“IASB”). These unaudited 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, 2021. PEMEX estimates that there is no significant impact on its unaudited condensed consolidated interim financial statements due to the seasonality of operations. These unaudited 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, 2021. B. Basis of accounting These unaudited 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 unaudited 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 unaudited condensed consolidated interim financial statements are presented in Mexican pesos, which is both PEMEX’s functional currency and reporting currency, due to the following: i. The economic environment in which PEMEX operates is Mexico, where the legal currency is the Mexican peso; ii. The budget through which Petróleos Mexicanos and its Subsidiary Entities operate as entities of the Mexican Government, including the ceiling for personnel services, is elaborated, approved and exercised in Mexican pesos; iii. Employee benefits provision was approximately 29% and 33% of PEMEX’s total liabilities as of September 30, 2022 and December 31, 2021, 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 unaudited 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 unaudited 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 unaudited 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, 2021. 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. |
Significant Accounting Policies
Significant Accounting Policies | 9 Months Ended |
Sep. 30, 2022 | |
Significant accounting policies [Abstract] | |
Significant Accounting Policies | SIGNIFICANT ACCOUNTING POLICIES The accounting policies applied in the preparation of these unaudited 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, 2021, except for the adoption of new standards effective as of January 1, 2022. However, these new standards do not have a material effect on the unaudited condensed consolidated interim financial statements of PEMEX. |
Accounting Changes
Accounting Changes | 9 Months Ended |
Sep. 30, 2022 | |
Accounting changes [Abstract] | |
Accounting Changes | ACCOUNTING CHANGES A number of new standards and amendments to standards are effective for annual periods beginning after January 1, 2022 and earlier application is permitted; however, PEMEX has not early adopted any of the forthcoming new or amended standards in preparing these unaudited condensed consolidated interim financial statements. |
Subsidiary Entities and Subsidi
Subsidiary Entities and Subsidiary Companies | 9 Months Ended |
Sep. 30, 2022 | |
Disclosure of subsidiaries [abstract] | |
Subsidiary Entities and Subsidiary Companies | SUBSIDIARY ENTITIES AND SUBSIDIARY COMPANIES As of September 30, 2022 and December 31, 2021, the Subsidiary Entities consolidated in these financial statements include Pemex Exploration and Production, Pemex Industrial Transformation and Pemex Logistics. As of September 30, 2022 and December 31, 2021, the consolidated Subsidiary Companies are as follows: • P.M.I. Holdings, B.V. (“PMI HBV”) (i)(iii)(x)(xi) • P.M.I. Trading, DAC. (“PMI Trading”) (i)(iii)(vii) • P.M.I. Holdings Petróleos España, S.L.U. (“HPE”) (i)(iii)(v) • P.M.I. Services North America, Inc. (“PMI SUS”) (i)(iii)(vi) • P.M.I. Norteamérica, S.A. de C.V. (“PMI NASA”) (i)(iii)(iv) • P.M.I. Comercio Internacional, S. A. de C. V. (“PMI CIM”) (i)(ii)(iv) • PMI Campos Maduros SANMA, S. de R. L. de C. V. (“SANMA”) (iii)(iv) • Pro-Agroindustria, S.A. de C. V. (“AGRO”) (iii)(iv) • PTI Infraestructura de Desarrollo, S.A. de C.V. (“PTI ID”) (iii)(iv) • P.M.I. Servicios Portuarios Transoceánico, S.A. de C.V. (“PMI SP”) (i)(iii)(iv) • Pemex Procurement International, Inc. (“PPI”) (iii)(vi) • Pemex Finance Limited. (“FIN”) (iii)(ix) • Mex Gas Internacional, S.L. (“MGAS”) (iii)(iv) • Pemex Desarrollo e Inversión Inmobiliaria, S.A. de C.V. (“PDII”) (iii)(iv) • Kot Insurance Company, AG. (“KOT”) (iii)(viii) • PPQ Cadena Productiva, S.L.U. (“PPQCP”) (iii)(iv) • I.I.I. Servicios, S.A. de C.V. (“III Servicios”) (iii)(iv) • PMI Ducto de Juárez, S. de R.L. de C.V. (“PMI DJ”) (i)(iii)(iv) • PMX Fertilizantes Holding, S.A de C.V. (“PMX FH”) (iii)(iv) • PMX Fertilizantes Pacífico, S.A. de C.V. (“PMX FP”) (iii)(iv) • Grupo Fertinal, S.A. de C.V. (“GP FER”) (iii)(iv) • Compañía Mexicana de Exploraciones, S.A. de C.V. (“COMESA”) (ii)(iv) • P.M.I. Trading México, S.A. de C.V. (“TRDMX”) (i)(iii)(iv) • Holdings Holanda Services, B.V. (“HHS”) (iii)(xi) • Deer Park Refining Limited Partnership (“Deer Park” or “DPRLP”) (vi)(xii) i. Member Company of the “PMI Subsidiaries”. ii. Non-controlling interest company (98.33% in PMI CIM and 60.0% in COMESA) iii. Petróleos Mexicanos owns 100.0% of the interests in this Subsidiary Company. iv. Operates in Mexico v. Operates in Spain vi. Operates in the United States of America vii. Operates in Ireland viii. Operates in Switzerland ix. Operates in the Cayman Islands x. This company was liquidated in December 2021. xi. Operates in the Netherlands xii. This company is consolidated as of January 2022. |
Segment Financial Information
Segment Financial Information | 9 Months Ended |
Sep. 30, 2022 | |
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 September 30, 2022 and 2021, PEMEX’s operations were conducted through seven and six business segments, respectively: Exploration and Production, Industrial Transformation, Logistics, DPRLP (beginning January 20, 2022), the 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 17 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). The refining 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. • Beginning on January 20, 2022, the Deer Park segment includes the operations of DPRLP, whose operating results and performance are reviewed currently and regularly as a separate business by PEMEX’s Board of Directors. DPRLP earns revenues from sales of distillates and gasoline in the U.S. market. • The trading companies segment, which consist of PMI CIM, PMI NASA, PMI Trading and MGAS (the “Trading Companies”), earns revenues from trading crude oil, natural gas and petroleum and petrochemical products in international markets. • The segment related to corporate provides administrative, financing and consulting services to PEMEX’s subsidiary entities and companies. • The segment related to the Subsidiary Companies provides administrative, financing, consulting and logistical services, as well as economic, tax and legal advice, re-insurance services to PEMEX’s subsidiary entities and companies and other subsidiary companies that perform industrial activities. 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 of PEMEX and on which it bases its decision-making. These reporting segments are presented in PEMEX’s reporting currency. As of/for the nine-month period Exploration Industrial Logistics DPRLP (3) Trading Corporate Other operating Intersegment Total Sales: Trade Ps. 462,454,632 941,863,769 — 189,158,354 254,743,701 — 15,131,707 — 1,863,352,163 Intersegments 562,033,202 230,974,203 59,791,260 20,967,761 628,698,634 57,619,388 54,839,232 (1,614,923,680) — Services income 79,745 848,424 1,179,703 836,822 1,604,767 697 10,820 — 4,560,978 Reversal of impairment of wells, pipelines, properties, plant and equipment, net 11,959,635 43,088,866 1,542,908 — 282,437 — — — 56,873,846 Cost of sales 438,349,515 1,205,542,223 51,454,089 192,477,889 877,139,880 921,266 66,836,749 (1,557,986,203) 1,274,735,408 Gross income (loss) 598,177,699 11,233,039 11,059,782 18,485,048 8,189,659 56,698,819 3,145,010 (56,937,477) 650,051,579 Distribution, transportation and sales expenses 190,138 13,309,417 100,624 — 507,615 5,168 69,917 (3,199,277) 10,983,602 Administrative expenses 46,535,113 43,410,761 13,287,149 774,043 1,923,951 54,859,564 4,751,933 (53,284,177) 112,258,337 Other revenue 8,785,857 7,494,057 216,172 3,131,025 10,772,579 162,623 6,236,169 — 36,798,482 Other expenses (3,411,063) (1,112,019) 240,925 (7,122) (1,022,419) (770,526) (78,010) 465,355 (5,694,879) Operating income (loss) 556,827,242 (39,105,101) (1,870,894) 20,834,908 15,508,253 1,226,184 4,481,319 11,332 557,913,243 Financing income 59,869,852 300,607 8,538,934 — 327,624 120,492,894 272,711 (168,845,398) 20,957,224 Financing cost (99,041,024) (24,028,986) (346,656) (254,796) (2,265,952) (151,715,277) (972,025) 168,834,063 (109,790,653) Derivative financial instruments (cost) income, net (37,522,838) (33,074) — — (1,018,615) 1,082,680 — — (37,491,847) Foreign exchange income (loss), net 70,391,771 2,394,005 16,220 — (189,439) (1,024,685) 518,790 — 72,106,662 Profit (loss) sharing in joint ventures and associates (433,797) (1,299,877) (394) — 21,846,815 224,155,079 44,229,790 (288,265,267) 232,349 Taxes, duties and other 316,217,028 — (5,792,579) — (589,418) (1,697,196) 173,384 — 308,311,219 Net income (loss) Ps. 233,874,178 (61,772,426) 12,129,789 20,580,112 34,798,104 195,914,071 48,357,201 (288,265,270) 195,615,759 Total current assets 971,923,362 333,090,742 238,146,928 46,632,681 256,603,139 1,497,590,082 94,407,548 (2,867,393,437) 571,001,045 Total non-current assets 873,997,093 516,002,857 153,548,098 33,686,456 110,384,905 712,000,084 398,990,647 (1,053,231,883) 1,745,378,257 Total current liabilities 517,219,318 1,006,317,668 69,294,498 21,968,625 212,051,565 1,871,558,359 61,199,120 (2,867,156,903) 892,452,250 Total non-current liabilities 2,003,388,815 558,160,514 61,986,862 5,447,924 600,636 1,936,476,437 42,540,693 (1,586,059,575) 3,022,542,306 Equity (deficit), net (674,687,678) (715,384,583) 260,413,666 52,902,588 154,335,843 (1,598,444,630) 389,658,382 532,591,158 (1,598,615,254) Depreciation and amortization 85,931,942 10,397,976 4,412,095 3,302,226 268,279 424,020 1,495,852 — 106,232,390 Depreciation of rights of use 290,036 2,896,919 425,898 532,282 131,396 57,638 — 4,334,169 Net periodic cost of employee benefits excluding items recognized in other comprehensive income 26,604,199 38,797,227 5,936,814 — 826 23,607,928 31,516 — 94,978,510 Interest income (1) 148,175 269,902 3,045 — 36,682 8,051,569 87,590 — 8,596,963 Interest cost (2) (184,992) 3,096,988 347,492 254,796 1,991,497 95,619,876 845,930 — 101,971,587 (1) Included in financing income. (2) Included in financing cost. (3) Beginning January 20, 2022, DPRLP information is now included as a separate business segment. As of/for the three-month period Exploration Industrial Logistics DPRLP (3) Trading Corporate Other operating Intersegment Total Sales: Trade Ps. 154,156,160 323,137,584 — 62,490,302 84,962,122 — 4,775,659 — 629,521,827 Intersegments 188,013,478 85,593,492 18,631,371 12,554,103 249,416,808 19,612,971 22,467,676 (596,289,899) — Services income 23,753 305,550 424,185 (553) 535,727 169 4,431 — 1,293,262 Reversal of impairment of wells, pipelines, properties, plant and equipment, net (9,587,839) 2,265,458 68,117 — — — — — (7,254,264) Cost of sales 157,832,041 438,307,485 21,856,967 72,407,279 335,682,357 364,163 26,077,388 (576,590,355) 475,937,325 Gross income (loss) 174,773,511 (27,005,401) (2,733,294) 2,636,573 (767,700) 19,248,977 1,170,378 (19,699,544) 147,623,500 Distribution, transportation and sales expenses (36,771) 5,319,451 41,344 — (50,969) 8,355 31,251 (1,051,905) 4,260,756 Administrative expenses 15,122,898 15,035,732 4,487,058 265,105 513,610 19,239,101 1,359,515 (18,262,699) 37,760,320 Other revenue 5,301,714 4,430,490 38,825 (2,069) 192,112 (67,519) 2,832,136 — 12,725,689 Other expenses (1,146,357) (736,875) 210,864 (7,122) (481,484) (400,424) (77,069) 382,912 (2,255,555) Operating income (loss) 163,842,741 (43,666,969) (7,012,007) 2,362,277 (1,519,713) (466,422) 2,534,679 (2,028) 116,072,558 Financing income 15,183,482 136,037 3,459,429 — 105,042 42,674,744 139,504 (58,045,724) 3,652,514 Financing cost (39,606,205) (8,571,868) (49,899) (40,321) (868,418) (54,024,841) (429,794) 58,047,748 (45,543,598) Derivative financial instruments (cost) income, net (16,901,477) (22,683) — — 1,911,506 2,029,960 — — (12,982,694) Foreign exchange (loss), net (4,302,160) (5,888,483) 7,980 — (42,803) 1,047,499 (165,542) — (9,343,509) Profit (loss) sharing in joint ventures and associates (28,249) (1,641,520) (400) — 2,961,762 (43,834,562) 3,409,091 39,205,079 71,201 Taxes, duties and other 107,525,698 — (3,213,820) — 133,141 (570,212) 85,013 — 103,959,820 Net (loss) income Ps. 10,662,434 (59,655,486) (381,077) 2,321,956 2,414,235 (52,003,410) 5,402,925 39,205,075 (52,033,348) Depreciation and amortization 29,830,489 3,627,478 1,440,377 1,155,189 84,023 141,225 539,617 — 36,818,398 Depreciation of rights of use 103,993 1,034,892 107,069 — 174,237 97,910 20,846 — 1,538,947 Net periodic cost of employee benefits excluding items recognized in other comprehensive income 8,789,223 12,844,503 1,927,785 — (49) 7,805,284 10,505 — 31,377,251 Interest income (1) 78,356 105,812 3,045 — 9,067 3,598,347 70,241 — 3,864,868 Interest cost (2) (329,756) 1,034,912 47,314 40,321 765,315 33,416,507 369,124 — 35,343,737 (1) Included in financing income. (2) Included in financing cost. (3) Beginning January 20, 2022, DPRLP information is now included as a separate business segment. As of/for the nine-month period Exploration Industrial Logistics Trading Corporate Other operating Intersegment Total Sales: Trade Ps. 335,604,545 492,800,331 — 208,636,965 — 9,178,781 — 1,046,220,622 Intersegments 315,840,615 124,338,007 60,838,892 276,533,100 53,174,078 17,907,404 (848,632,096) — Services income 73,383 435,837 2,134,218 825,655 1,349 7,515 — 3,477,957 Reversal of impairment of wells, pipelines, properties, plant and equipment, net 37,635,674 278,616 328,174 — — — — 38,242,464 Cost of sales 328,653,112 668,263,462 33,892,357 472,133,743 723,129 26,387,766 (797,762,540) 732,291,029 Gross income (loss) 360,501,105 (50,410,671) 29,408,927 13,861,977 52,452,298 705,934 (50,869,556) 355,650,014 Distribution, transportation and sales expenses 230,436 10,852,331 89,785 1,031,673 (71,942) 109,502 (2,851,062) 9,390,723 Administrative expenses 43,907,361 38,721,624 12,262,178 1,262,657 54,072,188 3,186,072 (47,922,159) 105,489,921 Other revenue 4,526,734 7,197,518 87,125 215,827 212,706 108,660 — 12,348,570 Other expenses (3,146,208) (189,345) (73,769) (7,094) (118) (148,359) (4,175) (3,569,068) Operating income (loss) 317,743,834 (92,976,453) 17,070,320 11,776,380 (1,335,360) (2,629,339) (100,510) 249,548,872 Financing income 55,124,171 299,598 4,441,923 264,022 107,938,207 190,836 (148,174,873) 20,083,884 Financing cost (95,271,585) (12,551,866) (252,639) (1,530,044) (148,369,285) (711,937) 148,275,384 (110,411,972) Derivative financial instruments (cost) income, net (19,316,381) (15,231) — (1,538,761) (761,907) — — (21,632,280) Foreign exchange (loss), net (16,401,846) (4,690,382) 32,015 (95,891) (1,742,778) (508,997) — (23,407,879) (Loss) profit sharing in joint ventures and associates (286,382) (1,210,016) (18) (1,044,164) (57,316,973) (3,509,592) 60,200,462 (3,166,683) Taxes, duties and other 213,889,840 — (2,187,700) 972,689 (1,493,925) 70,814 — 211,251,718 Net (loss) income Ps. 27,701,971 (111,144,350) 23,479,301 6,858,853 (100,094,171) (7,239,843) 60,200,463 (100,237,776) Depreciation and amortization 84,242,207 11,132,633 3,072,705 187,832 700,827 1,283,817 — 100,620,021 Depreciation of rights of use 279,511 2,964,439 208,768 699,943 501,365 90,755 — 4,744,781 Net periodic cost of employee benefits excluding items recognized in other comprehensive income 25,455,692 36,775,271 6,229,702 (12,222) 22,703,735 27,586 — 91,179,764 Interest income (1) 37,456 299,456 64,158 68,808 5,520,421 77,089 — 6,067,388 Interest cost (2) 2,041,861 3,431,925 218,775 1,394,738 98,413,098 543,974 — 106,044,371 (1) Included in financing income. (2) Included in financing cost. As of/for the three-month period Exploration Industrial Logistics Trading Corporate Other operating Intersegment Total Sales: Trade Ps. 128,897,928 174,362,921 — 76,055,408 — 3,979,220 — 383,295,477 Intersegments 114,921,318 47,962,508 19,947,189 100,402,887 20,530,675 7,294,941 (311,059,518) — Services income 30,621 261,268 726,852 393,952 292 1,245 — 1,414,230 Reversal of impairment of wells, pipelines, properties, plant and equipment, net 9,443,446 (3,611,756) 218,314 — — — — 6,050,004 Cost of sales 126,291,748 236,598,432 11,831,740 174,170,506 198,096 10,845,360 (291,483,573) 268,452,309 Gross income (loss) 127,001,565 (17,623,491) 9,060,615 2,681,741 20,332,871 430,046 (19,575,945) 122,307,402 Distribution, transportation and sales expenses 62,693 3,087,902 (8,698) 288,789 (20,832) 1,970 (934,853) 2,476,971 Administrative expenses 17,753,595 14,071,271 4,393,807 482,675 18,896,215 1,226,496 (18,584,493) 38,239,566 Other revenue 3,148,554 4,537,413 17,869 59,500 40,223 (938,403) — 6,865,156 Other expenses (2,104,376) (79,553) (243,343) (2,356) — (134,257) (49,366) (2,613,251) Operating income (loss) 110,229,455 (30,324,804) 4,450,032 1,967,421 1,497,711 (1,871,080) (105,965) 85,842,770 Financing income 17,230,225 94,579 1,520,485 96,380 37,171,060 59,057 (51,308,904) 4,862,882 Financing cost (30,963,086) (4,978,753) (53,066) (579,116) (50,806,423) (283,330) 51,414,870 (36,248,904) Derivative financial instruments (cost) income, net (10,894,207) (9,289) — (384,398) 2,013,462 — — (9,274,432) Foreign exchange (loss) income, net (39,266,376) (4,559,118) (29,817) 26,655 (2,396,832) (778,344) — (47,003,832) Profit (loss) sharing in joint ventures and associates (93,864) (1,190,495) (16) 112,534 (65,103,235) (1,263,208) 67,579,885 41,601 Taxes, duties and other 78,338,315 — (2,825,150) 354,020 (415,435) 12,747 — 75,464,497 Net (loss) income Ps. (32,096,168) (40,967,880) 8,712,768 885,456 (77,208,822) (4,149,652) 67,579,886 (77,244,412) Depreciation and amortization Ps. 27,813,841 3,620,080 292,073 63,715 228,882 403,563 — 32,422,154 Depreciation of rights of use 93,167 934,486 50,259 217,770 165,011 29,925 — 1,490,618 Net periodic cost of employee benefits excluding items recognized in other comprehensive income 8,952,587 12,786,223 2,374,865 (12,222) 7,961,568 9,195 — 32,072,216 Interest income (1) 30,571 94,532 6,355 32,210 2,711,171 20,721 — 2,895,560 Interest cost (2) 1,890,797 1,126,091 44,259 502,953 33,150,042 187,604 — 36,901,746 (1) Included in financing income. (2) Included in financing cost. As of/ for the year ended Exploration Industrial Transformation (1) Logistics Trading Corporate Other operating Intersegment Total Total current assets 875,933,631 252,372,772 219,321,008 244,042,561 1,970,621,447 71,425,918 (3,175,323,293) 458,394,044 Total non-current assets 837,915,816 418,907,482 154,076,115 40,872,714 448,667,110 220,334,640 (527,069,750) 1,593,704,127 Total current liabilities 495,444,322 776,564,748 62,569,320 189,834,560 2,538,932,078 34,183,072 (3,174,879,770) 922,648,330 Total non-current liabilities 2,203,155,765 657,020,316 77,857,852 792,646 2,050,485,763 27,632,466 (1,717,494,184) 3,299,450,624 Equity (deficit), net (984,750,640) (762,304,810) 232,969,951 94,288,069 (2,170,129,284) 229,945,020 1,189,980,911 (2,170,000,783) |
Revenue
Revenue | 9 Months Ended |
Sep. 30, 2022 | |
Disclosure of disaggregation of revenue from contracts with customers [abstract] | |
Revenue | REVENUE For the nine- and three-month periods ended September 30, 2022 and 2021, the revenues were as follows: A. Revenue disaggregation For the nine-month period ended Exploration and Industrial Logistics DPRLP (1) Trading Corporate Other operating Total Geographical market 2022 United States Ps. 299,855,589 — — 189,995,176 186,156,710 — 1,572,358 677,579,833 Other 110,614,077 — — — 7,685,362 — 3,490,022 121,789,461 Europe 51,806,039 — — — 473,711 — — 52,279,750 Local 258,672 838,991,607 1,179,703 — 62,032,685 697 10,080,147 912,543,511 Incentive for automotive fuels — 103,720,586 — — — — — 103,720,586 Total Ps. 462,534,377 942,712,193 1,179,703 189,995,176 256,348,468 697 15,142,527 1,867,913,141 2021 United States Ps. 190,703,167 — — — 163,210,462 — 3,220,503 357,134,132 Other 97,011,172 — — — 8,634,286 — 426,538 106,071,996 Europe 47,753,474 — — — 1,410,469 — — 49,163,943 Local 210,115 493,236,168 2,134,218 — 36,207,403 1,349 5,539,255 537,328,508 Total Ps. 335,677,928 493,236,168 2,134,218 — 209,462,620 1,349 9,186,296 1,049,698,579 Major products and services 2022 Crude oil Ps. 462,275,705 — — — 855,600 — — 463,131,305 Gas 178,927 98,482,899 — — 81,767,753 — — 180,429,579 Refined petroleum products — 723,842,052 — 64,698,229 162,534,002 — — 951,074,283 Incentive for automotive fuels — 103,720,586 — — — — — 103,720,586 Other — 15,818,232 — 124,460,125 9,586,346 — 15,131,707 164,996,410 Services 79,745 848,424 1,179,703 836,822 1,604,767 697 10,820 4,560,978 Total Ps. 462,534,377 942,712,193 1,179,703 189,995,176 256,348,468 697 15,142,527 1,867,913,141 2021 Crude oil Ps. 335,467,813 — — — 3,465,416 — — 338,933,229 Gas 136,732 80,937,016 — — 52,260,340 — — 133,334,088 Refined petroleum products — 400,547,323 — — 139,154,419 — — 539,701,742 Other — 11,315,992 — — 13,756,790 — 9,178,781 34,251,563 Services 73,383 435,837 2,134,218 — 825,655 1,349 7,515 3,477,957 Total Ps. 335,677,928 493,236,168 2,134,218 — 209,462,620 1,349 9,186,296 1,049,698,579 Timing of revenue recognition 2022 Products transferred at a point in time Ps. 462,454,632 896,577,312 1,179,703 189,158,354 254,743,701 — 15,131,707 1,819,245,409 Products and services transferred over the time 79,745 46,134,881 — 836,822 1,604,767 697 10,820 48,667,732 Total Ps. 462,534,377 942,712,193 1,179,703 189,995,176 256,348,468 697 15,142,527 1,867,913,141 2021 Products transferred at a point in time Ps. 335,604,545 452,221,209 2,134,218 — 208,636,965 — 9,178,783 1,007,775,720 Products and services transferred over the time 73,383 41,014,959 — — 825,655 1,349 7,513 41,922,859 Total Ps. 335,677,928 493,236,168 2,134,218 — 209,462,620 1,349 9,186,296 1,049,698,579 (1) Beginning January 20, 2022, DPRLP information is now included as a separate business segment. For the three-month period ended Exploration and Industrial Logistics DPRLP (1) Trading Corporate Other operating Total Geographical market 2022 United States Ps. 93,636,395 — — 62,489,749 60,755,674 — 591,823 217,473,641 Other 42,547,831 — — — 3,537,791 — 442,082 46,527,704 Europe 17,930,576 — — — (1,852,636) — — 16,077,940 Local 65,111 294,777,732 424,185 — 23,057,020 169 3,746,185 322,070,402 Incentive for automotive fuels — 28,665,402 — — — — — 28,665,402 Total Ps. 154,179,913 323,443,134 424,185 62,489,749 85,497,849 169 4,780,090 630,815,089 2021 United States Ps. 73,764,760 — — — 62,211,796 — 1,752,012 137,728,568 Other 37,747,348 — — — 855,572 — 99,783 38,702,703 Europe 17,327,071 — — — 13,747 — — 17,340,818 Local 89,370 174,624,189 726,852 — 13,368,245 292 2,128,670 190,937,618 Total Ps. 128,928,549 174,624,189 726,852 — 76,449,360 292 3,980,465 384,709,707 Major products and services 2022 Crude oil Ps. 154,114,802 — — — 855,600 — — 154,970,402 Gas 41,358 33,893,671 — (4,592,291) 31,990,138 — — 61,332,876 Refined petroleum products — 256,507,009 — 3,654,126 45,070,568 — — 305,231,703 Incentive for automotive fuels — 28,665,402 — — — — — 28,665,402 Other — 4,071,502 — 63,428,467 7,045,816 — 4,775,659 79,321,444 Services 23,753 305,550 424,185 (553) 535,727 169 4,431 1,293,262 Total Ps. 154,179,913 323,443,134 424,185 62,489,749 85,497,849 169 4,780,090 630,815,089 2021 Crude oil Ps. 128,839,179 — — — 3,442,278 — — 132,281,457 Gas 58,749 26,658,180 — — 18,437,211 — — 45,154,140 Refined petroleum products — 143,534,048 — — 42,274,060 — — 185,808,108 Other — 4,170,693 — — 11,901,859 — 3,979,220 20,051,772 Services 30,621 261,268 726,852 — 393,952 292 1,245 1,414,230 Total Ps. 128,928,549 174,624,189 726,852 — 76,449,360 292 3,980,465 384,709,707 Timing of revenue recognition 2022 Products transferred at a point in time Ps. 154,156,160 305,782,974 424,185 62,490,302 84,962,122 — 4,775,659 612,591,402 Products and services transferred over the time 23,753 17,660,160 — (553) 535,727 169 4,431 18,223,687 Total Ps. 154,179,913 323,443,134 424,185 62,489,749 85,497,849 169 4,780,090 630,815,089 2021 Products transferred at a point in time Ps. 128,897,928 163,799,735 726,852 — 76,055,408 — 3,979,220 373,459,143 Products and services transferred over the time 30,621 10,824,454 — — 393,952 292 1,245 11,250,564 Total Ps. 128,928,549 174,624,189 726,852 — 76,449,360 292 3,980,465 384,709,707 (1) Beginning January 20, 2022, DPRLP information is now included as a separate business segment. 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 2 months in determining the final sale price, such as in the case of sales to some regions. Revenue is measured initially by estimating variables such as quality and volume claims, delays in boarding etc. 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. Price is not distributed when there is a performance obligation, except, when there is more than one performance obligation, in which case, the price of the transaction will be assigned according to the service price established in the service order. 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 September 30, 2022 and December 31, 2021, PEMEX had accounts receivable derived from customer contracts in the amounts of Ps. 130,514,339 and Ps. 101,259,081, 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. Incentive for automotive fuels On March 4, 2022, the Mexican Government published a decree in the Official Gazette of the Federation establishing a tax incentive pursuant to which PEMEX can recover the difference between the international reference price of gasoline and the price at which the gasoline is traded in the domestic market. For the nine- and three-month periods ended September 30, 2022, this complementary incentive amounted Ps.103,720,586 and Ps. 28,665,402, respectively, which are included as a separate line item in total sales in the Statement of Comprehensive Income. |
Financial Instruments
Financial Instruments | 9 Months Ended |
Sep. 30, 2022 | |
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 September 30, 2022, and December 31, 2021. 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 (in thousands of Mexican pesos) Fair value hierarchy As of September 30, 2022 FVTPL FVOCI – debt FVOCI – equity Financial assets at Other financial Total carrying amount Level 1 Level 2 Level 3 Total Financial assets measured at fair value Derivative financial instruments 10,499,136 — — — — 10,499,136 — 10,499,136 — 10,499,136 Equity instruments(i) — — 533,658 — — 533,658 — 533,658 — 533,658 Total 10,499,136 — 533,658 — — 11,032,794 Financial assets not measured at fair value Cash and cash equivalents — — — 62,271,071 — 62,271,071 — — — — Customers — — — 130,514,339 — 130,514,339 — — — — Officials and employees — — — 4,343,719 — 4,343,719 — — — — Sundry debtors — — — 30,129,263 — 30,129,263 — — — — Investments in joint ventures and associates — — — 2,107,628 — 2,107,628 — — — — Notes receivable — — — 1,414,291 — 1,414,291 — — — — Mexican Government Bonds — — — 111,722,004 — 111,722,004 106,303,973 — — 106,303,973 Other assets — — — 7,210,679 — 7,210,679 — — — — Total — — — 349,712,994 — 349,712,994 Financial liabilities measured at fair value Derivative financial instruments (39,711,214) — — — — (39,711,214) — (39,711,214) — (39,711,214) Total (39,711,214) — — — — (39,711,214) Financial liabilities not measured at fair value Suppliers — — — — (262,654,610) (262,654,610) — — — — Accounts, accrued expenses payable and advance payments from customers (ii) — — — — (70,462,522) (70,462,522) — — — — Leases — — — — (55,011,280) (55,011,280) — — — — Debt — — — — (2,132,813,387) (2,132,813,387) — (1,708,838,766) — (1,708,838,766) Total — — — — (2,520,941,799) (2,520,941,799) (i) Refers to the participation in TAG Pipelines Sur, S. de R.L. de C.V. (ii) As of September 30, 2022, includes received advance payments for the future sale of turbosine of Ps. 17,590,055 and U.S. $306,570. Carrying amount (in thousands of Mexican pesos) Fair value hierarchy As of December 31, 2021 FVTPL FVOCI – debt FVOCI – equity Financial assets at Other financial Total carrying amount Level 1 Level 2 Level 3 Total Financial assets measured at fair value Derivative financial instruments 12,473,967 — — — — 12,473,967 — 12,473,967 — 12,473,967 Equity instruments(i) — — 448,949 — — 448,949 — 448,949 — 448,949 Total 12,473,967 — 448,949 — — 12,922,916 Financial assets not measured at fair value Cash and cash equivalents — — — 76,506,447 — 76,506,447 — — — — Customers — — — 101,259,081 — 101,259,081 — — — — Officials and employees — — — 3,752,692 — 3,752,692 — — — — Sundry debtors — — — 37,034,460 — 37,034,460 — — — — Investments in joint ventures and associates — — — 2,254,952 — 2,254,952 — — — — Notes receivable — — — 1,646,290 — 1,646,290 — — — — Mexican Government Bonds — — — 110,855,356 — 110,855,356 109,124,514 — — 109,124,514 Other assets — — — 4,537,481 — 4,537,481 — — — — Total — — — 337,846,759 — 337,846,759 Financial liabilities measured at fair value Derivative financial instruments (13,636,086) — — — — (13,636,086) — (13,636,086) — (13,636,086) Total (13,636,086) — — — — (13,636,086) Financial liabilities not measured at fair value Suppliers — — — — (264,056,358) (264,056,358) — — — — Accounts, accrued expenses payable and advance payments from customers — — — — (32,015,808) (32,015,808) — — — — Leases — — — — (59,351,648) (59,351,648) — — — — Debt — — — — (2,249,695,894) (2,249,695,894) — (2,211,701,630) — (2,211,701,630) Total — — — — (2,605,119,708) (2,605,119,708) (i) Refers to the participation in TAG Pipelines Sur, S. de R.L. de C.V. Debt is recognized at amortized cost and the fair value of debt is estimated using quotes from major market sources which are then adjusted internally using standard market pricing models. As a result of relevant assumptions, the estimated fair value does not necessarily represent the actual terms at which existing transactions could be liquidated or unwound. B. Fair value hierarchy PEMEX values the fair value of its financial instruments under standard methodologies commonly applied in the financial markets. PEMEX’s related assumptions and inputs therefore fall under the three Levels of the fair value hierarchy for market participant assumptions, as described below. The fair values determined by Level 1 inputs utilize quoted prices in active markets for identical assets or liabilities. Fair values determined by Level 2 inputs are based on quoted prices for similar assets or liabilities in active markets, and inputs other than quoted prices that are observed for assets or liabilities. Level 3 inputs are unobservable inputs for the assets or liabilities, and include situations where there is little, if any, market activity for the assets or liabilities. Management uses appropriate valuation techniques based on the available inputs to measure the fair values of PEMEX’s applicable financial assets and liabilities. When available, PEMEX measures fair value using Level 1 inputs, because they generally provide the most reliable evidence of fair value. C. Fair value of DFIs PEMEX periodically evaluates its exposure to international hydrocarbon prices, interest rates and foreign currencies and uses DFIs as a mitigation mechanism when potential sources of market risk are identified. PEMEX monitors the fair value of its DFI portfolio on a periodic basis. The fair value represents the price at which one party would assume the rights and obligations of the other and is calculated for DFIs through models commonly used in the international financial markets, based on inputs obtained from major market information systems and price providers. Therefore, PEMEX does not have an independent third party to value its DFIs. PEMEX calculates the fair value of its DFIs through the tools developed by its market information providers such as Bloomberg, and through valuation models implemented in software packages used to integrate all of PEMEX’s business areas and accounting, such as SAP (System Applications Products). PEMEX’s DFI portfolio is composed primarily of swaps, for which fair value is estimated by projecting future cash flows and discounting them with the corresponding discount factor; for currency and interest rate options, this is done through the Black Scholes Model, and for crude oil options, through the Levy model for Asian options. According to IFRS 13 “Fair Value Measurement”, the mark-to-market value of DFIs must reflect the creditworthiness of the parties. Consequently, the fair value of a DFI takes into account the risk that either party may default on its obligation. Due to the above, PEMEX applies the credit value adjustment (“CVA”) method to calculate the fair value of its DFIs. Because PEMEX’s hedges are cash flow hedges, their effectiveness is preserved regardless of the variations in the underlying assets or reference variables, thus asset flows are fully offset by liabilities flows. Therefore, it is not necessary to measure or monitor the hedges’ effectiveness. PEMEX’s DFIs’ fair-value assumptions and inputs fall under Level 2 of the fair value hierarchy for market participant assumptions. D. Accounting treatment applied and impact in the financial statements PEMEX enters into derivatives transactions with the sole purpose of hedging financial risks related to its operations, firm commitments, planned transactions and assets and liabilities recorded on its statement of financial position. Nonetheless, some of these transactions do not qualify for hedge accounting treatment because they do not meet the requirements of the accounting standards for designation as hedges. They are therefore recorded in the financial statements as instruments entered into for trading purposes, despite the fact that their cash flows are offset by the cash flows of the positions (assets or liabilities) to which they relate. As a result, the changes in their fair value are recognized in the “Derivative financial instruments (cost) income, net” line item in the consolidated statement of comprehensive income. As of September 30, 2022, and December 31, 2021, the net fair value of PEMEX’s DFIs (including both DFIs that have not reached maturity and those that have reached maturity but have not been settled), recognized in the consolidated statement of financial position, was Ps. (29,212,078) and Ps. (1,162,119), respectively. As of September 30, 2022, and December 31, 2021, 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 consolidated statement of comprehensive income. For the nine months periods ended September 30, 2022, and 2021, PEMEX recognized a net loss of Ps. 37,491,847 and Ps. 21,632,280, respectively, in the “Derivative financial instruments (cost) income, net” line item with respect to DFIs treated as instruments entered into for trading purposes. In accordance with established accounting policies, PEMEX has analyzed the different contracts that PEMEX has entered into and has determined that according to the terms thereof none of these agreements meet the criteria to be classified as embedded derivatives. Accordingly, as of September 30, 2022, and December 31, 2021, PEMEX did not recognize any embedded derivatives (foreign currency or index). E. IBOR reference rates transition As a result of the decision made by the Financial Stability Board (FSB), the Interbank Offered Rates (IBORs), such as the LIBOR in dollars (over-night “O/N”, one week “1W”, two months “2M”, and twelve months “12M”) or the EURIBOR in Euros, ceased being published in 2022 and must be replaced by alternative reference rates, based on risk-free rates 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 has identified and is reviewing contracts expiring after the applicable cessation dates, that could be impacted by the change in the aforementioned rates. PEMEX has a reduced number of financial instruments referenced to floating rates in Euros and U.S. dollars with maturity and interest rate fixation after September 2022 and June 2023, respectively. This portfolio of financial instruments is composed of debt instruments and DFIs as shown below: Reference Rate *Notional Amount Debt LIBOR 1M USD 681,933 LIBOR 3M USD 385,380 LIBOR 6M USD 710,673 EURIBOR 3M EUR 650,000 DFI LIBOR 1M USD 2,500,000 LIBOR 3M USD 156,250 LIBOR 6M USD 243,750 * Note: Notional amounts with maturity after September 30, 2022, for Euros and after June 30, 2023, for U.S. dollars. As of the third quarter of 2022, derived from the cease of the publication of the EURIBOR there has been no effect neither on the debt nor on the DFIs entered into hedge it, given that the coupon’s interest rate on each payment date has been the same for the debt and for the DFIs. In the event that TIIE ceases to be published, the portfolio of financial instruments referenced to these floating rates is composed of debt instruments and DFIs as shown below: Reference Rate *Notional Amount Debt TIIE 28D MXN 24,909,830 TIIE 91D MXN 21,171,037 DFI TIIE 28D MXN 31,733,673 * Note: Notional amounts with maturity after September 30, 2022. PEMEX’s portfolio also consists of additional debt instruments and DFIs referenced at fixed rates, which are not listed in the tables above since PEMEX’s fixed rate portfolio will not be impacted by the IBOR transition. PEMEX is in constant communication with its counterparties to carry out this transition in the most efficient way possible. In addition, as a result of the transition, PEMEX is working on any amendments to its contracts that may be required and is monitoring the evolution of the IBORs transition in the market, in order to anticipate any negative impact that these changes may have. Derived from the transition to the alternative reference rates based on risk-free rates (RFR), PEMEX has adopted a policy of not entering into new DFIs referenced to IBOR rates. Additionally, some of the discount curves that PEMEX uses to obtain the fair value of its DFIs already include on their construction instruments of the corresponding currency referecned to the new RFR. Additionally, as a result of the policy of not entering into new financing operations at floating rates referenced to IBOR, during 2021 and as of the third quarter of 2022, PEMEX contracted financing operations in USD at floating rates linked to the new RFR rates. |
Cash and Cash Equivalents
Cash and Cash Equivalents | 9 Months Ended |
Sep. 30, 2022 | |
Cash and cash equivalents [abstract] | |
Cash and Cash Equivalents | CASH AND CASH EQUIVALENTS As of September 30, 2022 and December 31, 2021, cash and cash equivalents were as follows: September 30, 2022 December 31, 2021 Cash on hand and in banks (i) (ii) Ps. 39,561,892 Ps. 41,520,864 Highly liquid investments (iii) 22,709,179 34,985,583 Ps. 62,271,071 Ps. 76,506,447 (i) Cash on hand and in banks is primarily composed of cash in banks. (ii) As of December 31, 2021, includes Ps. 15,461,286 in cash, allocated to the retirement plan of benefits to employees. These resources are obtained from the collection of Government bonds that will be transferred exclusively to the Fideicomiso Fondo Laboral Pemex (“Pemex Labor Fund” or “FOLAPE”) for the payment of obligations related to pensions and retirement plans. (iii) Mainly composed of short-term Mexican Government investments. |
Customers and Other Financing a
Customers and Other Financing and Non-Financing Accounts Receivable | 9 Months Ended |
Sep. 30, 2022 | |
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 September 30, 2022 and December 31, 2021, accounts receivable and other receivables were as follows: A. Customers September 30, 2022 December 31, 2021 Domestic customers, net Ps. 73,463,144 Ps. 54,031,475 Export customers, net 57,051,195 47,227,606 Total customers Ps. 130,514,339 Ps. 101,259,081 B. Other financial and non-financial accounts receivable September 30, 2022 December 31, 2021 Financial assets: Sundry debtors (1) Ps. 30,129,263 Ps. 37,034,460 Employees and officers 4,343,719 3,752,693 Total financial Assets Ps. 34,472,982 Ps. 40,787,153 Non-financial assets: Taxes to be recovered and prepaid taxes Ps. 76,430,365 Ps. 80,581,955 Special Tax on Production and Services 44,749,952 53,176,800 Other accounts receivable 3,135,031 2,591,360 Total non-financial assets: Ps. 124,315,348 Ps. 136,350,115 (1) Includes Ps. (312,202) and Ps. (210,672) of impairment, as of September 30, 2022 and December 31, 2021, respectively. |
Inventories
Inventories | 9 Months Ended |
Sep. 30, 2022 | |
Disclosure of inventories [abstract] | |
Inventories | INVENTORIES As of September 30, 2022 and December 31, 2021, inventories were as follows: September 30, 2022 December 31, 2021 Refined and petrochemicals products Ps. 73,864,875 Ps. 40,359,715 Products in transit 63,383,057 21,614,227 Crude oil 27,418,100 18,540,376 Materials and products in stock 5,488,139 5,036,587 Materials in transit 337,832 313,899 Gas and condensate products 295,674 248,338 Ps. 170,787,677 Ps. 86,113,142 |
Investments In Joint Ventures a
Investments In Joint Ventures and Associates | 9 Months Ended |
Sep. 30, 2022 | |
Investments in subsidiaries, joint ventures and associates reported in separate financial statements [abstract] | |
Investments In Joint Ventures and Associates | INVESTMENTS IN JOINT VENTURES AND ASSOCIATES A. The investments in joint ventures and associates as of September 30, 2022 and December 31, 2021 were as follows: Percentage September 30, December 31, Deer Park Refining Limited Partnership (1) 49.995 % Ps. — Ps. 6,703,324 Sierrita Gas Pipeline LLC 35.00 % 1,064,301 1,187,170 Frontera Brownsville, LLC. 50.00 % 440,353 456,503 Texas Frontera, LLC. 50.00 % 188,320 195,814 CH 4 Energía, S. A. de C.V. 50.00 % 154,097 174,321 Administración Portuaria Integral de Dos Bocas, S. A. de C.V. 40.00 % 131,358 110,344 Other-net Various 129,199 130,800 Total 2,107,628 8,958,276 (Impairment) in joint venture Deer Park Refining Limited Partnership (2) — (6,703,324) Ps. 2,107,628 Ps. 2,254,952 (1) As of December 31, 2021, PEMEX owned 49.995% interest in DPRLP, accordingly DPRLP was recognized through the equity method in the financial statements of PEMEX. As of September 30, 2022, PEMEX owns 100% interest in DPRLP and has control of the company. Accordingly, DPRLP is consolidated in the financial statements of PEMEX. (2) As of December 31, 2021, the investment in Deer Park was totally impaired (see subsection B.). Profit (loss) sharing in joint ventures and associates: For the nine- month period ended September 30, 2022 2021 Deer Park Refining Limited Partnership Ps. — Ps. (3,320,804) Sierrita Gas Pipeline, LLC. 97,616 100,215 CH4 Energía, S. A. de C.V. 23,275 19,540 Administración Portuaria Integral de Dos Bocas, S.A. de C.V. 21,014 (79,083) Frontera Brownsville, LLC. 17,056 30,500 Texas Frontera, LLC. 10,824 18,366 Ductos el Peninsular, S. A. P. I. de C. V. (370) (18) Other, net 62,934 64,601 Profit (loss) sharing in joint ventures and associates, net Ps. 232,349 (3,166,683) For the three-month period ended 2022 2021 Deer Park Refining Limited Partnership Ps. — Ps. 4,351 Administración Portuaria Integral de Dos Bocas, S.A. de C.V. 18,813 (43,906) Sierrita Gas Pipeline, LLC. 16,171 33,339 Frontera Brownsville, LLC. 9,628 6,385 Texas Frontera, LLC. 3,568 4,904 CH4 Energía, S. A. de C.V. 2,466 12,366 Ductos el Peninsular, S. A. P. I. de C. V. (396) (16) Other, net 20,951 24,178 Profit (loss) sharing in joint ventures and associates, net Ps. 71,201 41,601 B. Additional information about the significant investments in joint ventures and associates is presented below: • Deer Park . On March 31, 1993, PMI NASA acquired 49.995% of the Deer Park Refinery. In its capacity as general partner of DPRLP, Shell was responsible for the operation and management of the Deer Park Refinery (installed capacity of approximately 340,000 barrels per day of crude oil). Management decisions were made jointly with respect to investment in or disposal of assets, distribution of dividends, indebtedness and equity operations. In accordance with the investment contract and the operation of the agreement, the participants had the rights to the net assets in the proportion of their participation. This joint venture was recorded under the equity method. The investment in Deer Park as of December 31, 2021 was Ps. 6,703,324, which represented PMI NASA’s 49.995% interest in Deer Park (see subsection A.). COVID-19 negatively impacted the energy industry due to mobility restrictions and stoppages in several industries. For the Deer Park Refinery these impacts were observed in the reduction in refining margins due to lower demand in fuels. Therefore, at the beginning of 2021, Deer Park’s partners decided to support the refinery financially, given problems with liquidity toward the end of 2020. The support from Deer Park’s partners allowed us to continue the operation of the refinery. During 2021, there were three material impacts on the results: a. Low refining margins due to lower international demand as a result of the COVID-19 pandemic. b. Winter Storm Suspension. In February 2021, industries within the Texas area were affected by heavy snowfall. For the Deer Park Refinery, this scenario resulted in a total emergency stoppage and the activities resumed by the last week of March 2021. However, repair activities were required and were completed in November 2021. c. As established under the Renewable Fuel Standard Program of the Environmental Protection Agency of the United States of America, we are required to blend renewable products for transportation fuels, which led to an increase in renewable blending cost obligations from a higher price of “ Renewal Identification Numbers”. Acquisition of the joint venture: See accounting policy in Note 3(A)(i)(V) of PEMEX’s annual consolidated financial statements as of and for the year ended December 31, 2021. As a result, indications of impairment were identified, and at the end of 2021, impairment tests were carried out on the amount of the investment recognized in Deer Park, and the result was the recognition of a total impairment in the book value of the investment as of December 31, 2021 of Ps. 6,703,324, which is presented as a separate line item in the statement of comprehensive income. PEMEX determined the fair value of the joint venture under the market approach, with information from an observable transaction between independent parties, duly informed and in a market of free competition. In this observable transaction, the total value of the debt was agreed as the fair value of Deer Park. On January 20, 2022, PMI SUS acquired the remaining 50.005% of participation and voting interest in Deer Park through a purchase agreement with Shell, thereby becoming owner of Deer Park. Through this operation, PEMEX indirectly acquired control over Deer Park. As a result of the acquisition, this company is now consolidated in PEMEX’s financial statements. Beginning January 20, 2022, DPRLP’s business model changed from a company that obtained revenues from services for processing crude oil to a company that buys and processes crude oil and sells gasolines and distillates. Deer Park is a limited partnership under the laws of Delaware, with operations in Deer Park, Texas. The purpose of the acquisition is to strengthen and increase the refining capacity under PEMEX’s control. Currently, we are in the process of assessing the overall integration of Deer Park into our refining operations. Prior to the acquisition, the participation in Deer Park was recognized as a joint venture. As a result, the participation was recognized in PEMEX’s consolidated financial statements using the equity method. On November 3, 2021, the Board of Directors authorized PEMEX’s capitalization of HHS and HPE up to the amount received from the Fondo Nacional de Infraestructura (National Infrastructure Fund, or “FONADIN”) as a non-recoverable contribution to enable HHS and HPE, in turn, to capitalize PMI NASA and PMI SUS. These capitalizations were used to meet financial commitments arising out of the acquisition of Shell’s interest in Deer Park. In January 2022, the amount received and recorded from the FONADIN totaled Ps. 23,000,000 (U.S.$1,127,285) . In addition, PEMEX entered into a borrowing of Ps. 8,974,406 (U.S.$436,000) due in one year. In recognition of this transaction, PEMEX is applying the purchase method in accordance with International Financial Reporting Standard (IFRS) 3 “Business Combinations”, accounting for the transaction as a business combination achieved in stages. The acquiree company included in the identifiable assets at the date of acquisition of DPRLP are inputs (mainly Properties, Plant and Equipment and inventories), production processes and workforce. PEMEX has determined that together the acquired inputs and processes significantly contribute to the ability to generate revenue. PEMEX has concluded that the acquired set is a business. Consideration transferred PEMEX’s purchase of control of Deer Park, through the 50.005% interest owned by Shell, included the following: Cash paid to Shell Ps. 8,597,743 U.S.$ 421,396 Payment of debt to third parties 18,289,066 896,391 Payment of DPRLP’s debt to company partners 3,496,054 171,350 Total consideration paid in cash Ps. 30,382,863 U.S.$ 1,489,137 Settlement of pre-existing relationship 6,663,803 326,609 Total consideration paid in cash and settlement of pre-existing relationship Ps. 37,046,666 U.S.$ 1,815,746 The settlement of the pre-existing relationship includes the payment of 100% of PMI NASA’s Partners Loan (Ps.1,227,383 or U.S.$60,157 with cash and Ps. 5,436,420 or U.S.$266,452 with equity) which Deer Park used for operative purposes, and which consisted of a principal of Ps. 6,630,975 (U.S.$325,000) and interest of Ps.32,828 (U.S.$1,609). With this settlement, the account receivable registered on PMI NASA’s books was derecognized. As the book value of this item was equal to its fair value and there were no cancellation clauses, no effects were recognized in the profit or loss of the period. Acquisition-related costs Acquisition-related costs for the 50.005% interest in Deer Park totaled Ps. 145,937 (U.S.$7,091) recognized in the administrative expenses line item in the profit or loss for the applicable period. Identifiable assets acquired and liabilities assumed. The following table summarizes the fair value of the identifiable assets acquired. Cash and cash equivalents Ps. 1,597,759 U.S.$ 78,310 Inventories 6,918,473 339,091 Other current assets 131,661 6,453 Total current Assets 8,647,893 423,854 Property, Plant and Equipment 29,669,961 1,454,196 Total identifiable net assets acquired Ps. 38,317,854 U.S.$ 1,878,050 The Company carried out the valuation of the fair value of the business acquired under the market approach since it has information on an observable transaction between independent parties, is duly informed and is in a free competition market. At the acquisition date, considering the amount of the value of the net assets and the consideration transferred, a gain at a bargain purchase was determined as follows: Total consideration transferred Ps. 37,046,666 U.S.$ 1,815,746 Fair value of the identifiable net assets acquired (38,317,854) (1,878,050) Gain on bargain purchase Ps. (1,271,188) U.S.$ (62,304) There was not any gain or loss in the previously held interest because the book value and the fair value of these items was zero at the acquisition date. The technique used for the measuring of the fair value of the previous held interest was the adjusted book value method. The gain on bargain purchase was recognized in other income line item in the profit or loss of the period. The gain of U.S.$62,304 (Ps. 1,271,188) was due to closing adjustments consisting of Shell’s assumption of DPRLP’s accrued expenses and taxes and the pro rated cash. This is explained by the improvement in refining margins and forecasts during the last quarter of 2021. For the nine-month period ended September 30, 2022, DPRLP contributed Ps. 210,962,937 to PEMEX’s total revenues and Ps. 20,580,112 to PEMEX’s total income for the period. As of September 30, 2022, PEMEX recognized Ps.(10,383,296) of currency translation effects from the investment in DPRLP into other income, as a result of derecognizing the equity method. Associates • Sierrita Gas Pipeline LLC. This company was created on June 24, 2013. Its main activity is the developing of projects related to the transportation infrastructure of gas in the United States. This investment is recorded under the equity method. • Frontera Brownsville, LLC . Effective April 1, 2011, PMI SUS entered into a joint venture with TransMontaigne Operating Company L.P (TransMontaigne) to create Frontera Brownsville, LLC. Frontera Brownsville, LLC was incorporated in Delaware, United States, and has the corporate power to own and operate certain facilities for the storage and treatment of clean petroleum products. This investment is recorded under the equity method. • Texas Frontera, LLC . This company was constituted on July 27, 2010, and its principal activity is the lease of tanks for the storage of refined product. PMI SUS, which owns 50% interest in Texas Frontera, entered into a joint venture with Magellan OLP, L.P. (Magellan), and together they are entitled to the results in proportion of their respective investment. The company has seven tanks with a capacity of 120,000 barrels per tank. This joint venture is recorded under the equity method. • CH4 Energía, S.A. de C.V. This company was constituted on December 21, 2000. CH4 Energía engages in the purchase and sale of natural gas and in activities related to the trading of natural gas, such as transport and distribution in Valle de Toluca, Mexico. This joint venture is recorded under the equity method. • Administración Portuaria Integral de Dos Bocas, S.A. de C.V. This company was constituted on August 12, 1999. Its primary activity is administrating the Dos Bocas port, which is in Mexico’s public domain, promoting the port’s infrastructure and providing related port services. This investment is recorded under the equity method. • Ductos el Peninsular S.A.P.I. de C.V. |
Wells, Pipelines, Properties, P
Wells, Pipelines, Properties, Plant and Equipment, Net | 9 Months Ended |
Sep. 30, 2022 | |
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 September 30, 2022 and December 31, 2021, 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 Unproductive Total fixed assets Investment Balances as of January 1, 2021 Ps. 811,705,022 13,492,631 481,791,665 1,387,228,249 60,311,739 354,353,029 48,829,010 16,829,532 161,870,424 44,225,819 — 3,380,637,120 Acquisitions 7,963,546 — 2,255,478 18,125,341 11,312 2,606,668 802,055 119,759 68,499,434 7,958 — 100,391,551 Reclassifications 3,154,806 — (7,699) 105,873 65 (2,931,778) 2,082 73,211 (103,587) 41,205 1,625 335,803 Capitalization 1,520,740 — 2,256,417 28,673,456 287,955 2,148,170 129,397 — (35,016,135) — — — Disposals (118,695) — (115) — — — (86,428) (24,619) (71,339) — (204) (301,400) Balances as of September 30, 2021 Ps. 824,225,419 13,492,631 486,295,746 1,434,132,919 60,611,071 356,176,089 49,676,116 16,997,883 195,178,797 44,274,982 1,421 3,481,063,074 Balances as of January 1, 2021 811,705,022 13,492,631 481,791,665 1,387,228,249 60,311,739 354,353,029 48,829,010 16,829,532 161,870,424 44,225,819 — 3,380,637,120 Acquisitions 16,202,848 57,182 4,008,698 31,584,832 287,710 4,630,358 974,167 326,998 122,214,783 57,092 — 180,344,668 Reclassifications 3,218,834 — (507,065) 64,049 115 (2,931,778) 2,049 130,971 127,142 276,866 524,679 905,862 Impairment presentation (2) 113,522,135 (1,217) 24,292,290 121,070,386 9,817,972 67,305,005 (328,799) 6,303,440 36,777,946 — — 378,759,158 Capitalization 8,292,881 — 3,923,149 43,076,120 294,044 4,659,693 152,540 5,235,745 (65,840,388) 206,216 — — Disposals (1,455,531) — (18,032,858) (95,061,066) — (12,131,094) (318,412) (292,249) (1,714,397) — (524,679) (129,530,286) Balances as of December 31, 2021 Ps. 951,486,189 13,548,596 495,475,879 1,487,962,570 70,711,580 415,885,213 49,310,555 28,534,437 253,435,510 44,765,993 — 3,811,116,522 Acquisitions (3) 29,011,070 365,480 2,153,240 22,648,940 2,129,720 1,180,740 5,447,380 2,877,230 166,324,927 56,240 — 232,194,967 Reclassifications 1,325,400 — — — — (1,039,690) (202,330) (4,721,920) 4,557,790 — — (80,750) Capitalization 16,103,330 — 7,900,270 48,128,330 930,740 2,376,410 702,690 1,116,720 (77,672,310) 413,820 — — Disposals (1,513,220) (893,530) (252,940) — (60,140) (130) (351,550) (696,380) (2,375,930) (400,700) — (6,544,520) Translation effect (1,154,917) — (23,310) — (106,400) — (56,280) (60,590) (381,840) (32,860) — (1,816,197) Balances as of September 30, 2022 Ps. 995,257,852 13,020,546 505,253,139 1,558,739,840 73,605,500 418,402,543 54,850,465 27,049,497 343,888,147 44,802,493 — 4,034,870,022 Plants Drilling Pipelines Wells Buildings Offshore Furniture and Transportation Construction in progress (1) Land Unproductive Total fixed assets Accumulated depreciation and amortization Balances as of January 1, 2021 Ps. (520,582,198) (5,902,442) (200,976,329) (1,081,366,803) (39,893,540) (204,238,464) (43,336,870) (8,210,953) — — — (2,104,507,599) Depreciation and amortization (26,230,863) (313,450) (10,943,480) (49,210,710) (1,368,441) (10,650,961) (1,493,639) (408,477) — — — (100,620,021) Reclassification (292,377) — (47,505) — (25,026) 49,841 1,296 (22,032) — — — (335,803) (Impairment) (13,949,961) — (11,353,737) (24,319,176) — — — — (1,324,521) — (1,421) (50,948,816) Reversal of impairment 17,595,386 — 1,550,200 66,330,576 — 3,264,122 — 328,176 122,820 — — 89,191,280 Disposals 70,173 — (70,669) — 16,934 — 50,029 20,353 — — — 86,820 Balances as of September 30, 2021 Ps. (543,389,840) (6,215,892) (221,841,520) (1,088,566,113) (41,270,073) (211,575,462) (44,779,184) (8,292,933) (1,201,701) — (1,421) (2,167,134,139) Balances as of January 1, 2021 Ps. (520,582,198) (5,902,442) (200,976,329) (1,081,366,803) (39,893,540) (204,238,464) (43,336,870) (8,210,953) — — — (2,104,507,599) Depreciation and amortization (39,126,110) (395,756) (16,731,217) (56,070,192) (1,846,486) (16,627,864) (2,008,187) (625,553) — — — (133,431,365) (Impairment) (43,670,755) — (25,193,511) (62,151,433) — (5,503,546) — (108,749) (21,233,314) — — (157,861,308) Reversal of impairment 38,499,016 — 23,545,676 72,569,176 — 20,727,844 — — 1,309,001 — — 156,650,713 Reclassitications (4,541,518) 15,413 (90,202) (89,082) 5,701,953 51,568 59,141 103,085 (2,116,220) — — (905,862) Impairment presentation (2) (113,522,135) 1,217 (24,292,290) (121,070,386) (9,817,972) (67,305,005) 328,799 (6,303,440) (36,777,946) — — (378,759,158) Disposals 453,965 — 7,300,538 65,307,692 — 8,820,911 261,910 85,648 — — — 82,230,664 Balances as of December 31, 2021 Ps. (682,489,735) (6,281,568) (236,437,335) (1,182,871,028) (45,856,045) (264,074,556) (44,695,207) (15,059,962) (58,818,479) — — (2,536,583,915) Depreciation and amortization (28,447,920) (331,820) (11,578,310) (49,906,090) (1,430,920) (11,827,740) (2,134,580) (575,010) — — — (106,232,390) Reclassification (28,640) — — — — 28,200 77,150 4,040 — — — 80,750 (Impairment) (25,633,448) — (1,321,170) (12,148,001) — (8,187,040) — — (1,505,294) — — (48,794,953) Reversal of impairment 67,221,448 — 7,814,245 15,302,089 — 13,456,757 — — 1,874,260 — — 105,668,799 Disposals 179,220 — 267,010 — 56,260 — 156,240 371,540 — — — 1,030,270 Translation effect 802,590 226,180 31,730 71,680 75,730 — 278,300 6,963 — — — 1,493,173 Balances as for September 30, 2022 Ps. (668,396,485) (6,387,208) (241,223,830) (1,229,551,350) (47,154,975) (270,604,379) (46,318,097) (15,252,429) (58,449,513) — — (2,583,338,266) Wells, pipelines, properties, plant and equipment—net as of September 30, 2021 Ps. 280,835,579 7,276,739 264,454,226 345,566,806 19,340,998 144,600,627 4,896,932 8,704,950 193,977,096 44,274,982 — 1,313,928,935 Wells, pipelines, properties, plant and equipment—net as of December 31, 2021 Ps. 268,996,454 7,267,028 259,038,544 305,091,542 24,855,535 151,810,657 4,615,348 13,474,475 194,617,031 44,765,993 — 1,274,532,607 Wells, pipelines, properties, plant and equipment—net as of September 30, 2022 Ps. 326,861,367 6,633,338 264,029,309 329,188,490 26,450,525 147,798,164 8,532,368 11,797,068 285,438,634 44,802,493 — 1,451,531,756 Depreciation rates 3 a 5% 5 % 2 a 7% — 3 a 7% 4 % 3 a 10% 4 a 20% Estimated useful lives 20 a 35 20 15 a 45 — 33 a 35 25 3 a 10 5 a 25 (1) Mainly wells, pipelines and plants. (2) To present the accumulated effect of impairment as part of the accumulated depreciation and amortization. This presentation does not affect the net value of wells, pipelines, properties, plant and equipment. (3) On January 20, 2022, PEMEX acquired assets with a cost of Ps. 29,669,961, mainly plants. This amount includes assets acquired through a business combination (see Note 12). A. For the nine-month periods ended September 30, 2022 and 2021, 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. 3,201,474 and Ps. 2,278,835, respectively. Financing cost rates during the nine-month periods ended September 2022 and 2021 were 5.40% to 6.64% and 6.15% to 6.48%, respectively. B. The combined depreciation of fixed assets and amortization of wells for the nine-month periods ended September 30, 2022 and 2021, recognized in operating costs and expenses, was Ps. 106,232,390 and Ps. 100,620,021, respectively which includes costs related to plugging and abandonment of wells for the nine-month periods ended September 30, 2022 and 2021 of Ps. 72,321 and Ps. 111,453, respectively. C. As of September 30, 2022 and December 31, 2021, provisions relating to future plugging of wells costs amounted to Ps. 73,003,139 and Ps. 70,144,756, respectively, and are presented in the “Provisions for plugging of wells” (see Note 17). D. As of September 30, 2022 and 2021, the translation effect of property, plant and equipment items from a different currency than the presentation currency was Ps. (323,024) and Ps. 1,765,350, respectively, which was mainly plant. E. During the nine-month periods ended September 30, 2022 and 2021, PEMEX recognized a reversal of impairment of Ps. 56,873,846, and Ps. 38,242,464, respectively, which is presented as a separate line item in the consolidated statement of comprehensive income as follows: For the nine-month periods ended September 30, 2022 2021 Reversal of (Impairment) Reversal of Reversal of (Impairment) Reversal of Pemex Exploration and Production Ps. 37,007,434 (25,047,799) Ps. 11,959,635 Ps. 74,064,522 (36,428,848) Ps. 37,635,674 Pemex Industrial Transformation 66,836,020 (23,747,154) 43,088,866 14,798,584 (14,519,968) 278,616 Pemex Logistics 1,542,908 — 1,542,908 328,174 — 328,174 MGAS 282,437 — 282,437 — — — Total Ps. 105,668,799 (48,794,953) Ps. 56,873,846 Ps. 89,191,280 (50,948,816) Ps. 38,242,464 Cash-Generating Unit of Pemex Exploration and P r oduction During the nine-month periods ended September 30, 2022 and 2021, Pemex Exploration and Production recognized a net reversal of impairment, of Ps. 11,959,635 and Ps. 37,635,674, respectively. The net reversal of impairment by Cash-Generating Units (GGUs) include the net cumulative effect of impairment and reversal of impairment determined during the nine-month period September 30, 2022 and 2021 as follows: 2022 2021 Cantarell Ps. 18,195,996 Ps. 39,981,311 Burgos 9,124,073 — Antonio J. Bermúdez 6,252,924 6,342,147 Tamaulipas Constituciones 1,603,470 2,678,561 Tsimin Xux 766,217 — Ogarrio Magallanes 530,061 — Cuenca Macuspana 267,549 20,188 Misión (Cee) 234,658 — Ébano 32,486 — Aceite Terciario del Golfo — 13,493,508 Crudo Ligero Marino — 8,633,963 Arenque — 959,456 Chuc — 1,473,714 Ixtal - Manik — 481,674 Reversal of impairment 37,007,434 74,064,522 Ogarrio Magallanes (9,563,163) (308,809) Tsimin Xux (8,902,374) (13,576,172) Burgos (2,965,348) (7,213,977) Lakach (1,123,087) (368,455) Tamaulipas Constituciones (916,937) (376,676) Chuc (893,504) (10,556,097) Antonio J. Bermudez (276,546) — Cuenca Macuspana (193,728) (146,431) Misión (Cee) (151,347) (297,469) Ébano (61,765) — Cantarell — (1,149,238) Crudo Ligero Marino — (621,456) Arenque — (202,649) Ku-Maloob-Zaap — (993,579) Cuenca de Veracruz — (494,368) Cactus Sitio Grande — (123,472) (Impairment) (25,047,799) (36,428,848) Reversal (impairment) net Ps. 11,959,635 Ps. 37,635,674 As of September 30, 2022, Pemex Exploration and Production recognized a net reversal of impairment of Ps.11,959,635, mainly due to: (i) a positive effect due to the increase in crude oil prices of Ps. 89,496,928, mainly in the Cantarell CGU; (ii) a decrease in transportation and distribution costs, resulting in a positive effect of Ps. 64,347,041, mainly in the Cantarell CGU; (iii) a positive tax effect of Ps. 1,970,149 due to lower production income and translation effect mainly in Chuc CGU. These effects were offset by (i) a decrease in production volume of crude oil of Ps . 129,998,145 mainly in Ogarrio Sanchez Magallanes, Antonio J. Bermudez, Tsimin Xux and Burgos CGUs; (ii) a lower exchange rate gain of Ps. 3,697,480, from a peso/U.S. dollar exchange rate of Ps. 20.5835 = U.S. $ 1.00 as of December 31, 2021 to Ps. 20.3058 = U.S. $ 1.00 as of September 30, 2022; (iii) a negative effect of Ps. 10,158,858, due to an increase in the discount rate from 6.89% to 7.21% ; mainly in Burgos, Antonio J. Bermudez and Tamaulipas Constituciones CGUs. As of September 30, 2021, Pemex Exploration and Production recognized a net reversal of impairment of Ps. 37,635,674, mainly due to: (i) an increase in crude oil prices, generating a positive effect of Ps. 80,075,374, mainly in the Cantarell, Antonio J. Bermúdez, Crudo Ligero Marino, Aceite Terciario del Golfo (“ATG”) and Tamaulipas Constituciones CGUs; (ii) an exchange rate effect of Ps. 7,676,061, as a result of the appreciation of the peso against the U.S. dollar, from a peso/U.S. dollar exchange rate of Ps. 19.9487 = U.S. $1.00 as of December 31, 2020 to Ps. 20.3060 = U.S. $1.00 as of September 30, 2021; (iii) a positive effect of Ps. 3,382,991, due to a decrease in the discount rate from 6.23% to 5.90%, mainly in the Cantarell, ATG, Ixtal Manik and Arenque CGUs. These effects were offset by (i) a decrease in production volume of crude oil and higher transportation and distribution costs, resulting in a negative effect of Ps. 44,788,913, mainly in the Tsimin Xux, Burgos and Cuenca de Macuspana CGUs; (ii) an increase in proven reserves in the new Ixachi, Xikin, Jaatsul, Cheek, Uchbal, TetL, Teekit, Suuk, Pokche and Mulach fields; (iii) a negative tax effect of Ps. 949,106, mainly in the Antonio J. Bermúdez, ATG and Tamaulipas Constituciones CGUs, due to higher income as a result of an increase in hydrocarbon prices and a decrease in the discount rate with respect to December 31, 2020; and (iv) a higher than expected cost on disposal of abandoned fixed assets of Ps. 7,760,733, due to the fact that these assets did not represent an investment for the remainder of financial year 2021, nor for the immediately subsequent years. 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 September 30, 2022 2021 Average crude oil price 58.64 USD/bl 54.99 USD/bl Average gas price 4.85 USD/mpc 4.70 USD/mpc Average condensates price 64.98 USD/bl 64.29 USD/bl Discount rate 7.21% annual 5.90% annual For 2022 and 2021 the total forecast production, calculated with a horizon of 25 years, was 6,703 million and 6,141 million barrels 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 September 30, 2022 and 2021, values in use for CGU with impairment or reversal of impairment are: 2022 2021 Ku-Maloob-Zaap Ps. 675,642,095 Ps. 646,140,977 Cuenca de Veracruz 132,777,887 169,460,571 Cantarell 67,092,681 142,433,061 Chuc 73,209,192 54,633,917 Aceite Terciario del golfo 78,617,964 54,019,442 Ogarrio Magallanes 19,056,945 29,327,987 Antonio J. Bermudez 22,211,983 28,193,558 Cactus Sitio Grande 33,414,483 25,684,671 Crudo Ligero Marino 29,084,553 21,536,136 Tsimin Xux 25,080,469 20,681,792 Ixtal - Manik 19,693,120 13,902,514 Burgos 10,303,986 9,686,548 Poza Rica 6,767,035 8,597,852 Tamaulipas constituciones 6,242,425 7,070,363 Arenque 5,931,445 5,937,235 Cuenca de Macuspana 744,643 843,489 Total Ps. 1,205,870,906 Ps. 1,238,150,113 Cash-Generating Units of Pemex Industrial Transformation During the nine-month periods ended September 30, 2022 and 2021, Pemex Industrial Transformation recognized a net reversal of impairment, of Ps. 43,088,866 and Ps. 278,616, respectively. The net reversal of impairment by GGUs include the net cumulative effect of impairment and reversal of impairment determined during the nine-month period September 30, 2022 and 2021 as follows: 2022 2021 Minatitlán Refinery Ps. 32,753,878 Ps. 4,926,256 Madero Refinery 21,042,822 1,344,916 Tula Refinery 9,830,444 5,712,131 Cosoleacaque Petrochemical Complex 2,887,875 — Morelos Petrochemical Complex 151,737 2,815,281 New Pemex Gas Processing Complex 137,669 — Pajaritos Ethylene Processor Complex 31,595 — Reversal of impairment 66,836,020 14,798,584 Morelos Petrochemical Complex (7,580,085) (767,243) Cangrejera Ethylene Processor Complex (5,683,409) — Madero Refinery (3,594,516) (5,861,975) Cosoleacaque Petrochemical Complex (3,278,609) (1,324,519) Poza Rica Gas Processing Complex (3,200,227) — Cangrejera Petrochemical Complex (251,035) — Minatitlán Refinery (159,273) (6,566,231) Impairment (23,747,154) (14,519,968) Reversal of impairment Ps. 43,088,866 Ps. 278,616 As of September 30, 2022 , the net reversal of impairment of Ps. 43,088,866 was mainly the result of a 26.0% increase in refining sales price. These effects were partially offset by (i) an increase in raw material costs of 20.83%; (ii) an 14.81% increase in the discount rate of CGUs of refined products by 1.4% and a decrease in the discount rate of ethylene products by 4.75% ; and (iii) a decrease in the exchange rate of the peso against the U.S. dollar, from a peso/U.S. dollar exchange rate of Ps. 20.5835 = U.S. $1.00 as of December 31, 2021 , to Ps. 20.3058 = U.S. $1.00 as of September 30, 2022 , which are used as cash flows when U.S. dollars are taken as reference. As of September 30, 2021, Pemex Industrial Transformation recognized a net reversal of impairment of Ps. 278,616. This net reversal of impairment was mainly due to (i) an increase of the exchange rate, from a peso/U.S. dollar exchange rate of Ps. 19.9487 = U.S. $1.00 as of December 31, 2020 to Ps. 20.3060 = U.S. $1.00 as of September 30, 2021, which are used as cash flows when U.S. dollars are taken as reference; and (ii) a decrease in the discount rate of CGUs of refined products and petrochemical products by 1.49% and 1.19%, respectively and an increase in gas and ethylene products by 0.90% and 0.54%, respectively. 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 September 30, 2022 2021 2022 2021 2022 2021 2022 2021 2022 2021 Refining Gas Petrochemicals Ethylene ** Fertilizers Average crude oil Price US$72.98 US$59.10 N.A. N.A. N.A. N.A. Processed volume (i) 889 Mbd 906 Mbd 2,061 mmpcd 2,161 mmpcd 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. dollar 20.3058 20.3060 20.3058 20.3060 20.3058 20.3060 20.3058 20.3060 20.3058 20.306 Useful lives of the cash-generating units (year average) 12 11 7 7 5 6 5 5 5 5 Discount rate 10.85% 9.34% 10.36% 10.66% 8.22% 8.57% 8.22% 8.57% 10.25% 10.01% Period * 2022-2033 2022-2028 2022-2026 2022-2026 2022-2026 * The first 5 years are projected and stabilize at year 6. ** This entity was merged into Pemex Industrial Transformation on July 1, 2019. (i) Average of the first 4 years. N.A. Non-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 September 30, 2022 and 2021, the value in use for the impairment of fixed assets was as follows: 2022 2021 Salina Cruz Refinery Ps. 88,243,043 Ps. 50,208,309 Tula Refinery 73,301,942 55,499,327 Minatitlán Refinery 52,761,544 15,396,795 New Pemex Gas Processing Complex 27,668,082 — Madero Refinery 21,476,184 1,635,845 Cangrejera Pretrochemicals Complex 10,207,253 9,335,695 Poza Rica Gas Processor Complex 559,754 — Cosoleacaque Complex 300,018 — Morelos Ethylene Processor Complex — 11,103,807 Total Ps. 274,517,820 Ps. 143,179,778 Cash-Generating Units of Pemex Logistics As of September 30, 2022 and 2021, Pemex Logistics recognized a net reversa lof impairment of Ps. 1,542,908 and Ps. 328,174, respectively, mainly due to the capitalization of some constructions in progress during 2022 which were included in the impairment provision as of December 31, 2021. As of September 30, 2022 and 2021, the reversal of impairment were in the following CGUs: 2022 2021 Construction in progress Ps. 1,542,908 Ps. — Transport (white pipelines) — 328,174 Reversal of impairment Ps. 1,542,908 Ps. 328,174 |
Intangible Assets, Net
Intangible Assets, Net | 9 Months Ended |
Sep. 30, 2022 | |
Disclosure of detailed information about intangible assets [abstract] | |
Intangible Assets, Net | INTANGIBLE ASSETS, NET At September 30, 2022, and December 31, 2021, intangible assets, net are mainly wells unassigned to a reserve and other components of intangible assets, which amounted to Ps. 31,466,484 and Ps. 20,016,146, respectively as follows: A. Wells unassigned to a reserve September 30, December 31, September 30, Wells unassigned to a reserve: Balance at the beginning of the period Ps. 18,639,136 21,435,160 21,435,160 Additions to construction in progress 22,076,678 25,377,983 15,622,899 Transfers against expenses (6,004,297) (12,565,711) (11,663,560) Transfers against fixed assets (8,128,832) (15,608,296) (8,423,843) Balances at the end of the period Ps. 26,582,685 18,639,136 16,970,656 B. Other intangible assets September 30, December 31, Licenses Ps. 9,322,974 5,243,953 Exploration expenses, evaluation of assets and concessions 1,833,385 1,860,718 Amortization accumulated (6,272,560) (5,727,661) Balance at the end of the period Ps. 4,883,799 1,377,010 |
Government Bonds, Long-Term Not
Government Bonds, Long-Term Notes Receivable And Other Assets | 9 Months Ended |
Sep. 30, 2022 | |
Disclosure Of Notes Receivable Government Bonds And Other Long Term Assets [Abstract] | |
Government Bonds, Long-Term Notes Receivable And Other Assets | GOVERNMENT BONDS, LONG-TERM NOTES RECEIVABLE AND OTHER ASSETS A. Government bonds As of September 30, 2022 and December 31, 2021, the balance of Government bonds, includes Government bonds valued at amortized cost as follows: 2022 2021 Government bonds (1) Ps. 111,722,004 110,855,356 Less: current portion of Government bonds, net of expected credit losses 32,126,173 1,253,451 Total long-term notes receivable Ps. 79,595,831 109,601,905 (1) As of September 30, 2022 and December 31, 2021, includes an expected credit loss of Ps. 9,688 and Ps. 13,038, respectively. 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 will be transferred to the FOLAPE for payments related to its pension and retirement plan obligations. During the period from January 1 to September 30, 2022, interest income generated by the Government bonds amounted to Ps. 5,425,943, of which Petróleos Mexicanos received payments in the amount of Ps. 6,215,759. During the period from January 1 to December 31, 2021, interest income generated by the Government bonds amounted to Ps. 7,094,180, of which Petróleos Mexicanos received payments in the amount of Ps. 7,126,559. The interest income was recognized as financial income in the consolidated statement of comprehensive income. As of September 30, 2022 and December 31, 2021, the Government bonds consisted of 17 series of development bonds (D Bonds, M Bonds and UDI Bonds) issued by the SHCP with maturities between 2023 and 2026, with a notional amount of Ps. 102,492,032 and Ps. 913,482 in UDIs, respectively. As of September 30, 2022 and December 31, 2021, the fair value of the transferred assets was Ps. 106,303,973 and Ps. 109,124,514, respectively and the fair value of the associated liabilities was Ps. 81,655,585 and Ps. 83,869,441, respectively, resulting in a net position of Ps. 24,648,388 and Ps. 25,255,073, respectively. As of September 30, 2022 and December 31, 2021, the recorded liability was Ps. 101,758,788 (Ps. 100,362,848 of principal and Ps. 1,395,940 interest) and Ps. 84,189,749 (Ps. 83,401,120 of principal and Ps. 788,629 of interest), respectively. The roll-forward of the Government bonds is as follows: September 30, 2022 December 31, Balance as of the beginning of the period Ps. 110,855,356 129,549,519 Government bonds collected — (15,788,696) (1) Accrued interests 5,425,943 7,094,180 Interests received from bonds (6,215,759) (7,126,559) Impact of the valuation of bonds in UDIS 384,530 459,149 Amortized cost 1,268,584 (3,336,781) Reversal (Impairment) of bonds 3,350 4,544 Balance at the end of the period Ps. 111,722,004 110,855,356 (1) Government bonds were collected on December 9, 2021. B. Long-term notes receivable As of September 30, 2022 and December 31, 2021, the balance of long-term notes receivable was Ps. 1,414,291 and Ps. 1,646,290 respectively and includes Ps. 796,176 and Ps. 833,473, respectively, of collection rights related to Value Added Tax from the transferred assets by CENAGAS. C. Other assets As of September 30, 2022 and December 31, 2021, the balance of other assets was as follows: September 30, December 31, Payments in advance (1) Ps. 40,753,991 35,931,167 Other 2,709,030 2,327,872 Insurance 923,696 853,891 Total other assets Ps. 44,386,717 39,112,930 (1) Mainly advance payments to contractors for the construction of the Dos Bocas Refinery through PTI ID. |
Debt
Debt | 9 Months Ended |
Sep. 30, 2022 | |
Disclosure of long term debt [abstract] | |
Debt | DEBT The Federal Revenue Law applicable to PEMEX as of January 1, 2022, published in the Official Gazette of the Federation on November 12, 2021, authorized Petróleos Mexicanos and its Subsidiary Entities to incur a domestic net debt up to Ps. 27,242,000 and an external net debt up to U.S.$1,860,000. PEMEX can incur additional internal or external debt, as long as the total amount of net debt does not exceed the ceiling established by the Federal Revenue Law. The Board of Directors approves the terms and conditions for the incurrence of obligations that constitute public debt of Petróleos Mexicanos for each fiscal year, in accordance with the Petróleos Mexicanos Law and the Reglamento de la Ley de Petróleos Mexicanos (Regulations to the Petróleos Mexicanos Law). The terms and conditions are promulgated in accordance with the guidelines approved by the SHCP for Petróleos Mexicanos for the respective fiscal year. On December 30, 2021, Petróleos Mexicanos increased its Medium-Term Notes Program from U.S.$112,000,000 to U.S.$125,000,000. During the period from January 1 to September 30, 2022, PEMEX participated in the following financing activities: • On January 14, 2022, P.M.I. SUS, as borrower, and Petróleos Mexicanos, as guarantor, entered into a U.S.$500,000 credit facility maturing in 2023, which bears interest at a floating rate linked to SOFR plus 275 to 425 basis points. • On January 21, 2022, Petróleos Mexicanos, issued a promissory note for the principal amount of Ps. 2,500,000 for a term of 360 days, at a rate linked to 91-day TIIE plus 238 basis points, maturing in December 2022. • On February 25, 2022, Petróleos Mexicanos issued a promissory note for the principal amount of Ps. 250,000, bearing an interest rate linked to 28-day TIIE plus 235 basis points, maturing in February 2023. • On March 30, 2022, Petróleos Mexicanos completed the exchange of notes previously issued under Rule 144A and under Regulation S for SEC-registered notes. The following table sets forth, as of September 30, 2022, the principal amount outstanding of the registered debt securities issued by Petróleos Mexicanos, and guaranteed by Pemex Exploration and Production, Pemex Industrial Transformation and Pemex Logistics. Principal Security Issuer Guarantors (U.S.$) 6.875% Notes due 2025 Petróleos Mexicanos Pemex Exploration and Production, Pemex Industrial Transformation and Pemex Logistics 901,836 6.700% Notes due 2032 Petróleos Mexicanos Pemex Exploration and Production, Pemex Industrial Transformation and Pemex Logistics 6,779,842 • On March 31, 2022, Petróleos Mexicanos entered into a credit line in the amount of U.S.$75,000 due January 2023, at a floating rate linked to SOFR plus 245 basis points. • On April 18, 2022, Petróleos Mexicanos renewed a promissory note for Ps. 4,000,000, originally issued in October 2021, bearing interest at a floating rate linked to the 28-day TIIE plus 315 basis points, maturing in January 2023. • On April 21, 2022, Petróleos Mexicanos renewed a promissory note, originally issued in January 2022, for U.S.$100,000, bearing interest at a floating rate linked to 6-month SOFR plus 208 basis points and an adjustment margin of 42.826 basis points, maturing in October 2022. • On April 26, 2022, Petróleos Mexicanos obtained Ps. 10,000,000 related to the Government bonds monetization due to February 29, 2024. • On April 29, 2022, Petróleos Mexicanos increased a credit line from U.S.$150,000, originally issued on May 15, 2017, to U.S. $300,000, bearing interest at a floating rate linked to 3-month SOFR plus 220 basis points. • On May 18, 2022, Petróleos Mexicanos issued a promissory note for the principal amount of Ps. 500,000 bearing interest at a floating rate linked to 28-day TIIE plus 250 basis points, maturing in May 2023. • On May 31, 2022, Petróleos Mexicanos renewed a promissory note, originally issued in December 2021, for Ps. $3,000,000, bearing interest at a floating rate linked to 28-day TIIE plus 330 basis points, maturing in February 2023. • On May 31, 2022, Petróleos Mexicanos launched a U.S.$1,984,689 invoice refinancing liability management transaction under which certain suppliers and contractors were given the opportunity to exchange outstanding invoices due from PEMEX and its productive subsidiaries for global 8.750% notes due 2029 issued by PEMEX. • On June 15, 2022, Petróleos Mexicanos renewed two promissory notes, originally issued in December 2021 and January 2022, respectively, for Ps. 2,000,000, each one, bearing interest at a floating rate linked to 28-day TIIE plus 330 basis points, maturing in March 2023. • On June 17, 2022, Petróleos Mexicanos renewed a short-term credit, originally issued in September 2021, for U.S.$500,000 bearing interest at a floating rate linked to 217-day SOFR plus 210 basis points, maturing in January 2023. • On June 30, 2022, Petróleos Mexicanos renewed a promissory note, originally issued in January 2021, for U.S. $150,000, bearing interest at a floating rate linked to 180-day SOFR plus 250.826 basis points, maturing in December 2022. • On August 19, 2022, Petróleos Mexicanos renewed a promissory note, originally issued in February 2022 for the principal amount of Ps. 5,000,000 due in 365 days, bearing interest at a floating rate linked to 28-day TIIE plus 365 basis points, maturing in August 2023. • On August 23, 2022, Petróleos Mexicanos renewed a promissory note, originally issued in February 2022 for the principal amount of U.S.$11,362 due in 178 days, bearing interest at a floating rate linked to one month SOFR plus 175 basis points, maturing in February 2023. • On September 12, 2022, Petróleos Mexicanos renewed a promissory note, originally issued in March 2022, for the principal amount of Ps. 4,000,000, bearing an interest rate linked to 28-day TIIE plus 220 basis points, maturing in December 2022. • On September 13,2022, Petróleos Mexicanos renewed a promissory note, originally issued in January 2021, for Ps. 4,000,000, bearing interest at a floating rate linked to 28-day TIIE plus 365 basis points, maturing in September 2023. • On September 30, 2022, Petróleos Mexicanos renewed a promissory note, originally issued in January 2021, for Ps. 2,000,000 for a term of 90 days, at a rate linked to 91-day TIIE plus 280 basis points, maturing in December 2022. All of the debt securities listed above are jointly and severally guaranteed by Pemex Exploration and Production, Pemex Industrial Transformation, Pemex Logistics and their respective successors and assignees. As of September 30, 2022, PEMEX had U.S.$7,664,000 and Ps. 37,000,000 in revolving credit lines in order to provide liquidity, of which U.S.$ 1,150,000 and Ps. 26,000,000 were available. All of the financing activities mentioned above were guaranteed by Pemex Exploration and Production, Pemex Industrial Transformation and Pemex Logistics and their respective successors and assignees. As of December 31, 2021, the outstanding amount under the PMI Trading revolving credit line was U.S. $202,547. From January 1 to September 30, 2022, PMI Trading obtained U.S.$1,369,492 from its revolving credit lines used for its trading activities, and repaid U.S. $1,420,468. As of September 30, 2022, the outstanding amount under this revolving credit line was U.S.$151,571. As of September 30, 2022, the amount available under this revolving credit line was U.S.$73,429. The following table presents the roll-forward of total debt of PEMEX for the nine-month periods ended September 30, 2022 and 2021, and for the year ended December 31, 2021, which includes short and long-term debt: September 30, 2022 (i) December 31, 2021 (i) September 30, 2021 (i) Changes in total debt: At the beginning of the period Ps. 2,249,695,894 2,258,727,317 2,258,727,317 Loans obtained - financing institutions (ii) 760,249,760 1,652,151,747 1,058,854,764 Debt payments (799,148,919) (1,707,581,580) (1,027,818,098) Accrued interest (iii)(iv)(v) 110,204,259 162,903,771 109,254,054 Interest paid (123,300,926) (157,256,625) (123,430,793) Foreign exchange (64,886,681) 40,751,264 19,895,393 At the end of the period Ps. 2,132,813,387 2,249,695,894 2,295,482,637 (i) These amounts include accounts payable by Financed Public Works Contracts (“FPWC”) (formerly known as Multiple Services Contracts), which do not generate cash flows. (ii) Petróleos Mexicanos implemented a factoring arrangement to support its suppliers. Amounts as of December 31, 2021 totaled Ps. 15,934,904, which did not represent cash flows. (iii) As of September 30, 2022, includes awards amortization, fees and expenses related to the issuance of debt in the amount of Ps. 297,604 and Ps. (355,978), respectively, and amortized cost of Ps. 4,500,734. (iv) As of December 31, 2021, includes awards amortization, fees and expenses related to the issuance of debt in the amount of Ps. 3,290,673 and Ps. (2,835,359), respectively, and amortized cost of Ps. 6,226,947. (v) As of September 30, 2021, includes awards amortization, fees and expenses related to the issuance of debt in the amount of Ps. 208,088 and Ps. (337,691), respectively, and amortized cost of Ps. 428,452. As of September 30, 2022 and December 31, 2021, PEMEX used the following exchange rates to translate the outstanding balances in foreign currencies to pesos in the statement of financial position: September 30, 2022 December 31, U.S. dollar Ps. 20.3058 20.5835 Japanese yen 0.1410 0.1789 Pounds sterling 22.1617 27.8834 Euro 19.7839 23.4086 Swiss francs 20.8072 22.5924 |
Provisions for Sundry Creditors
Provisions for Sundry Creditors | 9 Months Ended |
Sep. 30, 2022 | |
Disclosure of other provisions [abstract] | |
Provisions for Sundry Creditors | PROVISIONS FOR SUNDRY CREDITORS As of September 30, 2022 and December 31, 2021, the provisions for sundry creditors and others is as follows: September 30, December 31, Provision for plugging of wells (see Note 13-C) Ps. 73,003,139 70,144,756 Provision for trails in process (see Note 19) 9,444,409 11,114,006 Provision for environmental costs 15,711,986 11,138,904 Ps. 98,159,534 92,397,666 |
Equity (Deficit)
Equity (Deficit) | 9 Months Ended |
Sep. 30, 2022 | |
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. During the nine-month periods ended September 30, 2022, PEMEX received a payment of Ps. 107,990,006 from Certificates of Contribution “A” from the Mexican Government. During the year ended December 31, 2021, Petróleos Mexicanos received Ps. 316,354,129 in Certificates of Contribution “A” from the Mexican Government to help improve PEMEX’s financial position. PEMEX’s Certificates of Contribution “A” are as follows: Amount Certificates of Contribution “A” as of December 31, 2020 Ps. 524,931,447 Increase in Certificates of Contribution “A” during 2021 316,354,129 Certificates of Contribution “A” as of December 31, 2021 Ps. 841,285,576 Increase in Certificates of Contribution “A” during the six-month periods ended September 30, 2022 107,990,006 Certificates of Contribution “A” as of September 30, 2022 Ps. 949,275,582 Mexican Government contributions made in the form of Certificates of Contribution “A” during 2022 totaled Ps. 107,990,006 were designated for the construction of the Dos Bocas Refinery and for the payment of debt, as follows: Date Payment of debt Construction of the Rehabilitation Plan of the refineries January 21 Ps. 19,321,641 — — January 21 — 7,500,000 — February 14 — 7,500,000 — March 8 26,115,898 — — March 8 — 7,500,000 — April 28 — 762,100 — May 26 — 21,737,900 — July 29 — — 969,342 August 19 — 4,000,000 — August 30 — 2,000,000 — September 6 — — 683,125 September 8 — 2,500,000 — September 14 — 2,500,000 — September 22 — 2,500,000 — September 28 — 2,400,000 — Total Ps. 45,437,539 60,900,000 1,652,467 B. Mexican Government contributions In January 2022, Petróleos Mexicanos received a grant from the FONADIN in the amount of Ps. 23,000,000 for the acquisition of the remaining 50.005% interest in DPRLP (see Note 12). During the year ended December 31, 2021, 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 September 30, 2022 and December 31, 2021, there were no changes to the legal reserve. D. Accumulated other comprehensive income (loss) As a result of the discount rate analysis related to employee benefits liability, for the period nine-month period ended September 30, 2022 and 2021, PEMEX recognized net actuarial gains in other comprehensive income (loss) Ps. 259,774,823 and Ps. 241,528,141, respectively; which are presented net of deferred income tax for Ps. 17,431,751 and Ps. (10,468,424), respectively, related to retirement and post-employment benefits. The variation related to retirement and post-employment benefits was the result of an increase in the discount and return on plan assets rates from 8.46% as of December 31, 2021 to 9.98% as of September 30, 2022. E. Accumulated deficit from prior years PEMEX has recorded negative earnings in the past several years. However, the Ley de Concursos Mercantiles (“Commercial Bankruptcy Law of Mexico”) is not applicable to Petróleos Mexicanos and the Subsidiary Entities. Furthermore, the financing agreements to which PEMEX is a party do not provide for financial covenants that would be breached or events of default that would be triggered as a consequence of negative equity. F. Uncertainty related to going concern The unaudited condensed consolidated interim financial statements have been prepared assuming PEMEX will continue as a going concern. The going concern assumption contemplates the realization of assets and satisfaction of liabilities in normal course of business. However, substantial doubt about PEMEX’s ability to continue as a going concern exists. Facts and conditions PEMEX has substantial debt, incurred mainly to finance the capital expenditures needed to carry out its capital investment projects and to fund its operating expenses. Due to its heavy fiscal burden resulting from the payment of hydrocarbon extraction duties and other taxes, the cash flows derived from PEMEX’s operations in recent years have not been sufficient to fund its operations and capital expenditure programs. As a result, PEMEX’s indebtedness has increased significantly, and its working capital has deteriorated. In recent years, PEMEX’s level of indebtedness relative to its oil reserves has increased substantially and has been financially supported by the Mexican Government. In 2021, certain ratings agencies downgraded PEMEX’s credit rating, mainly driven by the effects of COVID-19, as well as the volatility of 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 2022 and 2023. The recent Mexican Government’s economic policies of subsidizing gasoline prices to domestic consumers may have an impact on public finances, restraining the Government cash availability and increasing the uncertainty of cash available for PEMEX. These conditions have negatively impacted PEMEX’s financial performance and also its liquidity position. Despite the fact that during the nine-month period ended September 30, 2022, PEMEX has recognized a net income of Ps. 195,615,759, during the year ended December 31, 2021, PEMEX recognized a net loss of Ps. 294,532,168. In addition, as of September 30, 2022 and December 31, 2021, PEMEX had a negative equity of Ps. 1,598,615,254, and Ps. 2,170,000,783, respectively, mainly due to continuous net losses, and a negative working capital of Ps. 321,451,205 and Ps. 464,254,286, as of September 30, 2022 and December 31, 2021, 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 2022 authorized PEMEX to have a negative financial balance budget of Ps. 62,750,000. This shortfall does not consider payments of principal of PEMEX’s debt due in 2022. PEMEX has short-term debt principal maturities (including interest payable) of Ps. 420,323,023 as of September 30, 2022. 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: PEMEX has requested to receive scheduled equity capital contributions from the Mexican Government during 2022 and 2023 through the Ministry of Energy, which are subject to changes in the main reference variables used in the preparation of PEMEX’s 2022 budget and the financial capacity of the Mexican Government. The resources from these contributions, if any, will be used to pay the 2022 and 2023 short-term debt maturities. PEMEX has received Ps. 45,437,539 as of September 30, 2022 for this purpose. Given the current scenario of high international prices in oil and its derivatives, along with the Mexican Government’s policy of keeping the consumer price of gasoline below inflation, PEMEX’s operating income may be affected, and equity capital contributions to PEMEX could be compromised. This situation is mitigated by the application of a tax credit decree published on March 4, 2022, pursuant to which PEMEX can recover the difference between the international reference price of gasoline and the price at which the gasoline is traded in the domestic market. The benefit of such tax credit decree is recognized in "Complementary incentive of domestic sales" line item in the statement of comprehensive income. During 2022, PEMEX is subject to a reduction of DUC fiscal rate from 54% in 2021 to 40% in 2022, and it is expected that in 2023 the DUC fiscal rate will further decrease. In addition, PEMEX may raise funds from the markets in accordance with prevailing conditions, to refinance its debt. Further, PEMEX has had the intent to refinance its short-term debt maturities through direct loans and revolving credit facilities and loans guaranteed by export credit agencies. PEMEX also established in conjunction with development and commercial banks Cadenas Productivas PEMEX Plus (Productive Chains Plus Program) to aid in the payment to suppliers and contractors. PEMEX’s ability to refinance it short-term debt maturities depends on factors outside of its control. The Federal Revenue Law for 2022 also authorized PEMEX to incur net additional indebtedness up to Ps. 65,000,000 (Ps. 27,242,000 and U.S.$1,860,000), which is considered as public debt by the Mexican Government and may be used to partially cover its negative financial balance. 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. Further, on March 22, 2021, the Board of Directors of Petróleos Mexicanos approved the business plan of Petróleos Mexicanos and its Subsidiary Companies for 2021-2025 (the “2021-2025 Business Plan”). Prices of crude oil, natural gas and petroleum products have begun to recover during 2022. 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. PEMEX prepared its consolidated financial statements as of September 30, 2022 and December 31, 2021 on a going concern basis. There are certain conditions that have generated important uncertainty and significant doubts concerning the entity’s ability to continue operating, including recurring net losses, negative working capital and negative equity. Those financial statements do not contain any adjustments that would be required if they were not prepared on a going concern basis. G. Non-controlling interest PEMEX does not currently own all of the shares of PMI CIM and COMESA, variations in income and equity from these entities are also presented in the consolidated statements of changes in equity (deficit) as “non-controlling interest.” As of September 30, 2022 and December 31, 2021, non-controlling interest represented losses of Ps. (170,624) and income of Ps. 128,502, respectively, in PEMEX’s equity (deficit). |
Contingencies
Contingencies | 9 Months Ended |
Sep. 30, 2022 | |
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 due to the fact that an unfavorable resolution is not expected in such proceedings, with the exception of the proceeding described in further detail in this Note. PEMEX is involved in various civil, tax, criminal, administrative, labor and commercial lawsuits and arbitration proceedings. The results of these proceedings are uncertain as of the date of these consolidated financial statements. As of September 30, 2022 and December 31, 2021, PEMEX had accrued a reserve of Ps. 9,444,409 and Ps. 11,114,006, respectively, for these contingent liabilities. As of September 30, 2022, 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 (constitutional challenge) (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 of the First Circuit declared the resolution null and void and no amount was granted in favor of the plaintiffs. 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 review motion was submitted and admitted (RF 574/2022) before Third Administrative Joint Court of the First Circuit. On September 13, 2022, representations were filed in connection with the amparo (D.A. 539/2022) filed by the plaintiffs before the Third Administrative Joint Court of the First Circuit. As of the date of these financial statements, a final resolution is still pending. • On October 18, 2019, the Sala Regional Peninsular (“Regional Peninsular Court”) of the Tribunal Federal de Justicia Administrativa (“Federal Justice Administrative Court”) in Mérida, Yucatán summoned Pemex Exploration and Production in connection with a claim (91/19-16-01-9) filed by PICO México Servicios Petroleros, S. de R.L. de C.V. requesting that Pemex Exploration and Production’s termination of the public works contract (no. 428814828) be declared null and void and seeking U.S.$137,300 for expenses and related damages, among other claims. On December 12, 2019, Pemex Exploration and Production filed a response to this claim. On March 28, 2020, a notification dated February 10, 2020, was received in which the extended claim was admitted. On February 10, 2020, the expert appointed by the plaintiff was accepted. On February 18, 2020, an extension requested by the accounting expert appointed by Pemex Exploration and Production was accepted and his opinion was filed and ratified on August 11, 2020. On June 1, 2021, an independent expert was designated. On September 30, 2021, a resolution was issued, which declared that all evidence has been filed. On October 15, 2021, the parties filed their pleadings. On November 9, 2021, this stage is closed. On June 8, 2022, the Regional Peninsular Court sent the file to the Sala Superior (“Superior Court”) due to the amount involved in this claim which was denied on August 22, 2022. As of the date of these financial statements, a final resolution is still pending. • Tech Man Group, S.A. de C.V. filed an administrative claim (7804/18-17-09-8) against Pemex Industrial Transformation seeking Ps. 2,009,598 for, among other things, payment of expenses and penalties in connection with a public works contract (CO-OF-019-4008699-11) before the Tribunal Fiscal de Justicia Administrativa (Fiscal Court of Administrative Justice). On June 25, 2019, a response was filed by Pemex Industrial Transformation as well as a motion against the admission of the claim, which was accepted. On October 2, 2019, the opinion of the accounting and construction experts submitted by the defendant was filed. On February 17, 2020, Pemex Industrial Transformation requested the Fiscal Court of Administrative Justice to appoint a new accounting expert since the previous appointed expert rejected his designation. On March 2, 2020, the independent construction expert filed his opinion. On August 7, 2020, the Novena Sala Regional Metropolitana (Ninth Regional Metropolitan Court) of the Federal Justice Court appointed an independent accounting expert, who filed his report on December 7, 2020. The parties also filed their pleadings. On March 30, 2022, the Superior Court of the Fiscal Court of Administrative Justice stated that the claim was filed untimely. On June 1, 2022, the plaintiff filed an amparo against this resolution. On July 8, 2022, a motion was filed in connection with amparo 437/2022 before the Décimo Quinto Tribunal Colegiado en materia Administrativa del Primer Circuito (Fifteenth Joint Administrative Court of the First Circuit). As of the date of these 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 appointed by Pemex Industrial Transformation filed his opinion. on June 2, 2022. As of the date of these 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 and fines among others, for an amount of Ps. 3,084,975. As of the date of these 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 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. This was notified on May 17, 2022. On July 1 4, 2022, Pemex Exploration and Production filed a response to this claim., requesting evidence from PEP, which was filed on August 8, 2022. On August 17, 2022, the Sala Regional del Golfo Norte (Regional Court of the North Gulf) admitted the evidence filed by PEP. On September 2, 2022, the Regional Court of the North Gulf denied the complaint motion filed by the plaintiff against the evidence filed. As of the date of these financial statements, a final resolution is still pending. • On September 9, 2022, Pemex Industrial Transformation filed a revocation motion requesting a tax credit issued by the Hydrocarbons Management of the Tax Administration Service for a total amount of Ps. 5,852,222 be declared null and void in connection with the Special Taxes on Production and Services and Value Added Taxes for the 2016 fiscal year in which demands that the nullity of the contested resolution be declared plain and simple where the Administration of Hydrocarbons of the Tax Administration System - Mexico City imposed on PTRI a tax credit in the amount of Ps.5,852,222. As of the date of these financial statements, a final resolution is still pending. • Compañía Nitrógeno de Cantarell, S.A. de C.V. (CNC) filed an arbitration proceeding before the International Court of Arbitration of the International Chamber of Commerce (25306/JPA) against Pemex Exploration and Production seeking initially U.S.$70,000 which was increased to U.S.$146,000 for nitrogen supply services performed. On August 24, 2021, a final award was issued in which Pemex Exploration and Production was required to pay to CNC: (i) U.S.$146,114 for due fixed changes as of July 12, 2021; (ii) U.S.$5,802, for accrued default interests as of July 12, 2021; (iii) U.S.$393 for fees and expenses of the Arbitration Court; and (iv) U.S.$1,500 plus the Value Added Tax for legal fees and expenses of CNC. On December 17, 2021, CNC and Pemex Exploration and Production executed a settlement agreement in which CNC accepted to reduce the amount related to expenses, among others, to be paid by Pemex Exploration and Production (U.S.$9,000) if Pemex Exploration and Production pays the principal amount (U.S.$156,237 as of December 15, 2021). On September 27, 2022, the severance was given and therefore this claim has concluded. |
Subsequent Events
Subsequent Events | 9 Months Ended |
Sep. 30, 2022 | |
Disclosure of non-adjusting events after reporting period [abstract] | |
Subsequent Events | SUBSEQUENT EVENTS A. Recent financing activities During the period from October 1 to December 7, 2022, PEMEX entered into the following financing activities: • On October 7, 2022, Petróleos Mexicanos issued a promissory note for the principal amount of Ps.1,500,000 due in 180 days, bearing interest at a floating rate linked to 28-day TIIE plus 195 basis points. • On October 17, 2022, Petróleos Mexicanos issued a promissory note for the principal amount of Ps.1,000,000 due in 180 days, bearing interest at a floating rate linked to 28-day TIIE plus 195 basis points. • On October 18, 2022, Petróleos Mexicanos issued a promissory note for the principal amount of U.S. $ 75,000 due in 70 days, bearing interest at a floating rate linked to 3-month SOFR plus 251 basis points. • On October 28, 2022, Petróleos Mexicanos issued a promissory note for the principal amount of Ps. 500,000, bearing interest at a floating rate linked to 28-day TIIE plus 225 basis points, maturing in April 2023. • On November 9, 2022, Petróleos Mexicanos issued subscribed a new revolving credit line for the amount of Ps. 20,500,000, bearing interest at a floating rate linked to 28-day TIIE plus 350 basis points, maturing in November 2025. • On November 14, 2022, Petróleos Mexicanos issued a promissory note for the principal amount of Ps. 1,300,000, bearing interest at a floating rate linked to 91-day TIIE plus 280 basis points, maturing in February 2023. • On November 15, 2022, Petróleos Mexicanos issued a promissory note for the principal amount of Ps. 5,000,000, bearing interest at a floating rate linked to 28-day TIIE plus 235 basis points, maturing in December 2022. As of September 30, 2022, the outstanding amount under the PMI Trading revolving credit lines was U.S.$151,571. From October 1 to December 7, 2022, PMI Trading obtained U.S.$ 321,059 from its revolving credit lines used for its trading activities and repaid U.S.$ 334,893. As of December 7, 2022, the outstanding amount under this revolving credit line was U.S.$ 137,737. The available amount under this revolving credit lines was U.S.$ 87,263 as of December 7, 2022. As of December 7, 2022, PEMEX had U.S.$7,664,000 and Ps. 29,500,000 in available credit lines in order to provide liquidity, of which U.S.$ 185,000 and Ps. 10,500,000 are available. B. Exchange rates and crude oil prices As of December 7, 2022, the Mexican peso-U.S. dollar exchange rate was Ps. 19.7567 per U.S. dollar, which represents a 2.7% appreciation of the value of the U.S. dollar as compared to the exchange rate as of September 30, 2022, which was Ps. 20.3058 per U.S. dollar. This increase in the U.S. dollar exchange rate, has led to an estimate of Ps. 48,510,062 in PEMEX’s foreign exchange loss as of December 7, 2022. As of December 7, 2022, the weighted average price of the crude oil exported by PEMEX was U.S.$ $61.86 per barrel. This represents a price decrease of 19.8% as compared to the average price as of September 30, 2022, which was U.S.$ 77.16 per barrel. C. Contributions from the Mexican Government During the period from October 1 to December 7, 2022, the Mexican Government, through the Ministry of Energy, made equity capital contributions to Petróleos Mexicanos for the construction of the Dos Bocas Refinery and Rehabilitation Plan of the refineries as follows: Fecha Contributions for the construction of the Dos Bocas Refinery Rehabilitation Plan of the refineries October 4 Ps. — 1,618,523 October 6 2,500,000 — October 13 2,500,000 — October 20 2,500,000 — October 28 2,500,000 — November 4 2,500,000 — November 7 — 1,805,296 November 10 2,500,000 — November 17 2,500,000 — November 25 — 892,893 November 25 2,500,000 — December 1 4,000,000 — December 2 800,000 — Total Ps. 24,800,000 4,316,712 D. Russian activities in Ukraine and the related destabilization of the world energy markets. PEMEX’s revenues and profitability are heavily dependent on the prices it receives from sales of oil and natural gas. Oil prices are particularly sensitive to actual and perceived threats to global political stability and to changes in production from OPEC member states. An actual increase, or the threat of an increase, in Russian activities in Ukraine could lead to increased volatility in global oil and gas prices. Destabilization of global oil and gas prices could reduce the price received from PEMEX’s sales of oil and natural gas and adversely affect PEMEX’s results and profitability. Increases in oil and gas prices may not persist and could be followed by price decreases based on factors beyond PEMEX’s control, including geopolitical events. |
Segment Financial Information (
Segment Financial Information (Tables) | 9 Months Ended |
Sep. 30, 2022 | |
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 of PEMEX and on which it bases its decision-making. These reporting segments are presented in PEMEX’s reporting currency. As of/for the nine-month period Exploration Industrial Logistics DPRLP (3) Trading Corporate Other operating Intersegment Total Sales: Trade Ps. 462,454,632 941,863,769 — 189,158,354 254,743,701 — 15,131,707 — 1,863,352,163 Intersegments 562,033,202 230,974,203 59,791,260 20,967,761 628,698,634 57,619,388 54,839,232 (1,614,923,680) — Services income 79,745 848,424 1,179,703 836,822 1,604,767 697 10,820 — 4,560,978 Reversal of impairment of wells, pipelines, properties, plant and equipment, net 11,959,635 43,088,866 1,542,908 — 282,437 — — — 56,873,846 Cost of sales 438,349,515 1,205,542,223 51,454,089 192,477,889 877,139,880 921,266 66,836,749 (1,557,986,203) 1,274,735,408 Gross income (loss) 598,177,699 11,233,039 11,059,782 18,485,048 8,189,659 56,698,819 3,145,010 (56,937,477) 650,051,579 Distribution, transportation and sales expenses 190,138 13,309,417 100,624 — 507,615 5,168 69,917 (3,199,277) 10,983,602 Administrative expenses 46,535,113 43,410,761 13,287,149 774,043 1,923,951 54,859,564 4,751,933 (53,284,177) 112,258,337 Other revenue 8,785,857 7,494,057 216,172 3,131,025 10,772,579 162,623 6,236,169 — 36,798,482 Other expenses (3,411,063) (1,112,019) 240,925 (7,122) (1,022,419) (770,526) (78,010) 465,355 (5,694,879) Operating income (loss) 556,827,242 (39,105,101) (1,870,894) 20,834,908 15,508,253 1,226,184 4,481,319 11,332 557,913,243 Financing income 59,869,852 300,607 8,538,934 — 327,624 120,492,894 272,711 (168,845,398) 20,957,224 Financing cost (99,041,024) (24,028,986) (346,656) (254,796) (2,265,952) (151,715,277) (972,025) 168,834,063 (109,790,653) Derivative financial instruments (cost) income, net (37,522,838) (33,074) — — (1,018,615) 1,082,680 — — (37,491,847) Foreign exchange income (loss), net 70,391,771 2,394,005 16,220 — (189,439) (1,024,685) 518,790 — 72,106,662 Profit (loss) sharing in joint ventures and associates (433,797) (1,299,877) (394) — 21,846,815 224,155,079 44,229,790 (288,265,267) 232,349 Taxes, duties and other 316,217,028 — (5,792,579) — (589,418) (1,697,196) 173,384 — 308,311,219 Net income (loss) Ps. 233,874,178 (61,772,426) 12,129,789 20,580,112 34,798,104 195,914,071 48,357,201 (288,265,270) 195,615,759 Total current assets 971,923,362 333,090,742 238,146,928 46,632,681 256,603,139 1,497,590,082 94,407,548 (2,867,393,437) 571,001,045 Total non-current assets 873,997,093 516,002,857 153,548,098 33,686,456 110,384,905 712,000,084 398,990,647 (1,053,231,883) 1,745,378,257 Total current liabilities 517,219,318 1,006,317,668 69,294,498 21,968,625 212,051,565 1,871,558,359 61,199,120 (2,867,156,903) 892,452,250 Total non-current liabilities 2,003,388,815 558,160,514 61,986,862 5,447,924 600,636 1,936,476,437 42,540,693 (1,586,059,575) 3,022,542,306 Equity (deficit), net (674,687,678) (715,384,583) 260,413,666 52,902,588 154,335,843 (1,598,444,630) 389,658,382 532,591,158 (1,598,615,254) Depreciation and amortization 85,931,942 10,397,976 4,412,095 3,302,226 268,279 424,020 1,495,852 — 106,232,390 Depreciation of rights of use 290,036 2,896,919 425,898 532,282 131,396 57,638 — 4,334,169 Net periodic cost of employee benefits excluding items recognized in other comprehensive income 26,604,199 38,797,227 5,936,814 — 826 23,607,928 31,516 — 94,978,510 Interest income (1) 148,175 269,902 3,045 — 36,682 8,051,569 87,590 — 8,596,963 Interest cost (2) (184,992) 3,096,988 347,492 254,796 1,991,497 95,619,876 845,930 — 101,971,587 (1) Included in financing income. (2) Included in financing cost. (3) Beginning January 20, 2022, DPRLP information is now included as a separate business segment. As of/for the three-month period Exploration Industrial Logistics DPRLP (3) Trading Corporate Other operating Intersegment Total Sales: Trade Ps. 154,156,160 323,137,584 — 62,490,302 84,962,122 — 4,775,659 — 629,521,827 Intersegments 188,013,478 85,593,492 18,631,371 12,554,103 249,416,808 19,612,971 22,467,676 (596,289,899) — Services income 23,753 305,550 424,185 (553) 535,727 169 4,431 — 1,293,262 Reversal of impairment of wells, pipelines, properties, plant and equipment, net (9,587,839) 2,265,458 68,117 — — — — — (7,254,264) Cost of sales 157,832,041 438,307,485 21,856,967 72,407,279 335,682,357 364,163 26,077,388 (576,590,355) 475,937,325 Gross income (loss) 174,773,511 (27,005,401) (2,733,294) 2,636,573 (767,700) 19,248,977 1,170,378 (19,699,544) 147,623,500 Distribution, transportation and sales expenses (36,771) 5,319,451 41,344 — (50,969) 8,355 31,251 (1,051,905) 4,260,756 Administrative expenses 15,122,898 15,035,732 4,487,058 265,105 513,610 19,239,101 1,359,515 (18,262,699) 37,760,320 Other revenue 5,301,714 4,430,490 38,825 (2,069) 192,112 (67,519) 2,832,136 — 12,725,689 Other expenses (1,146,357) (736,875) 210,864 (7,122) (481,484) (400,424) (77,069) 382,912 (2,255,555) Operating income (loss) 163,842,741 (43,666,969) (7,012,007) 2,362,277 (1,519,713) (466,422) 2,534,679 (2,028) 116,072,558 Financing income 15,183,482 136,037 3,459,429 — 105,042 42,674,744 139,504 (58,045,724) 3,652,514 Financing cost (39,606,205) (8,571,868) (49,899) (40,321) (868,418) (54,024,841) (429,794) 58,047,748 (45,543,598) Derivative financial instruments (cost) income, net (16,901,477) (22,683) — — 1,911,506 2,029,960 — — (12,982,694) Foreign exchange (loss), net (4,302,160) (5,888,483) 7,980 — (42,803) 1,047,499 (165,542) — (9,343,509) Profit (loss) sharing in joint ventures and associates (28,249) (1,641,520) (400) — 2,961,762 (43,834,562) 3,409,091 39,205,079 71,201 Taxes, duties and other 107,525,698 — (3,213,820) — 133,141 (570,212) 85,013 — 103,959,820 Net (loss) income Ps. 10,662,434 (59,655,486) (381,077) 2,321,956 2,414,235 (52,003,410) 5,402,925 39,205,075 (52,033,348) Depreciation and amortization 29,830,489 3,627,478 1,440,377 1,155,189 84,023 141,225 539,617 — 36,818,398 Depreciation of rights of use 103,993 1,034,892 107,069 — 174,237 97,910 20,846 — 1,538,947 Net periodic cost of employee benefits excluding items recognized in other comprehensive income 8,789,223 12,844,503 1,927,785 — (49) 7,805,284 10,505 — 31,377,251 Interest income (1) 78,356 105,812 3,045 — 9,067 3,598,347 70,241 — 3,864,868 Interest cost (2) (329,756) 1,034,912 47,314 40,321 765,315 33,416,507 369,124 — 35,343,737 (1) Included in financing income. (2) Included in financing cost. (3) Beginning January 20, 2022, DPRLP information is now included as a separate business segment. As of/for the nine-month period Exploration Industrial Logistics Trading Corporate Other operating Intersegment Total Sales: Trade Ps. 335,604,545 492,800,331 — 208,636,965 — 9,178,781 — 1,046,220,622 Intersegments 315,840,615 124,338,007 60,838,892 276,533,100 53,174,078 17,907,404 (848,632,096) — Services income 73,383 435,837 2,134,218 825,655 1,349 7,515 — 3,477,957 Reversal of impairment of wells, pipelines, properties, plant and equipment, net 37,635,674 278,616 328,174 — — — — 38,242,464 Cost of sales 328,653,112 668,263,462 33,892,357 472,133,743 723,129 26,387,766 (797,762,540) 732,291,029 Gross income (loss) 360,501,105 (50,410,671) 29,408,927 13,861,977 52,452,298 705,934 (50,869,556) 355,650,014 Distribution, transportation and sales expenses 230,436 10,852,331 89,785 1,031,673 (71,942) 109,502 (2,851,062) 9,390,723 Administrative expenses 43,907,361 38,721,624 12,262,178 1,262,657 54,072,188 3,186,072 (47,922,159) 105,489,921 Other revenue 4,526,734 7,197,518 87,125 215,827 212,706 108,660 — 12,348,570 Other expenses (3,146,208) (189,345) (73,769) (7,094) (118) (148,359) (4,175) (3,569,068) Operating income (loss) 317,743,834 (92,976,453) 17,070,320 11,776,380 (1,335,360) (2,629,339) (100,510) 249,548,872 Financing income 55,124,171 299,598 4,441,923 264,022 107,938,207 190,836 (148,174,873) 20,083,884 Financing cost (95,271,585) (12,551,866) (252,639) (1,530,044) (148,369,285) (711,937) 148,275,384 (110,411,972) Derivative financial instruments (cost) income, net (19,316,381) (15,231) — (1,538,761) (761,907) — — (21,632,280) Foreign exchange (loss), net (16,401,846) (4,690,382) 32,015 (95,891) (1,742,778) (508,997) — (23,407,879) (Loss) profit sharing in joint ventures and associates (286,382) (1,210,016) (18) (1,044,164) (57,316,973) (3,509,592) 60,200,462 (3,166,683) Taxes, duties and other 213,889,840 — (2,187,700) 972,689 (1,493,925) 70,814 — 211,251,718 Net (loss) income Ps. 27,701,971 (111,144,350) 23,479,301 6,858,853 (100,094,171) (7,239,843) 60,200,463 (100,237,776) Depreciation and amortization 84,242,207 11,132,633 3,072,705 187,832 700,827 1,283,817 — 100,620,021 Depreciation of rights of use 279,511 2,964,439 208,768 699,943 501,365 90,755 — 4,744,781 Net periodic cost of employee benefits excluding items recognized in other comprehensive income 25,455,692 36,775,271 6,229,702 (12,222) 22,703,735 27,586 — 91,179,764 Interest income (1) 37,456 299,456 64,158 68,808 5,520,421 77,089 — 6,067,388 Interest cost (2) 2,041,861 3,431,925 218,775 1,394,738 98,413,098 543,974 — 106,044,371 (1) Included in financing income. (2) Included in financing cost. As of/for the three-month period Exploration Industrial Logistics Trading Corporate Other operating Intersegment Total Sales: Trade Ps. 128,897,928 174,362,921 — 76,055,408 — 3,979,220 — 383,295,477 Intersegments 114,921,318 47,962,508 19,947,189 100,402,887 20,530,675 7,294,941 (311,059,518) — Services income 30,621 261,268 726,852 393,952 292 1,245 — 1,414,230 Reversal of impairment of wells, pipelines, properties, plant and equipment, net 9,443,446 (3,611,756) 218,314 — — — — 6,050,004 Cost of sales 126,291,748 236,598,432 11,831,740 174,170,506 198,096 10,845,360 (291,483,573) 268,452,309 Gross income (loss) 127,001,565 (17,623,491) 9,060,615 2,681,741 20,332,871 430,046 (19,575,945) 122,307,402 Distribution, transportation and sales expenses 62,693 3,087,902 (8,698) 288,789 (20,832) 1,970 (934,853) 2,476,971 Administrative expenses 17,753,595 14,071,271 4,393,807 482,675 18,896,215 1,226,496 (18,584,493) 38,239,566 Other revenue 3,148,554 4,537,413 17,869 59,500 40,223 (938,403) — 6,865,156 Other expenses (2,104,376) (79,553) (243,343) (2,356) — (134,257) (49,366) (2,613,251) Operating income (loss) 110,229,455 (30,324,804) 4,450,032 1,967,421 1,497,711 (1,871,080) (105,965) 85,842,770 Financing income 17,230,225 94,579 1,520,485 96,380 37,171,060 59,057 (51,308,904) 4,862,882 Financing cost (30,963,086) (4,978,753) (53,066) (579,116) (50,806,423) (283,330) 51,414,870 (36,248,904) Derivative financial instruments (cost) income, net (10,894,207) (9,289) — (384,398) 2,013,462 — — (9,274,432) Foreign exchange (loss) income, net (39,266,376) (4,559,118) (29,817) 26,655 (2,396,832) (778,344) — (47,003,832) Profit (loss) sharing in joint ventures and associates (93,864) (1,190,495) (16) 112,534 (65,103,235) (1,263,208) 67,579,885 41,601 Taxes, duties and other 78,338,315 — (2,825,150) 354,020 (415,435) 12,747 — 75,464,497 Net (loss) income Ps. (32,096,168) (40,967,880) 8,712,768 885,456 (77,208,822) (4,149,652) 67,579,886 (77,244,412) Depreciation and amortization Ps. 27,813,841 3,620,080 292,073 63,715 228,882 403,563 — 32,422,154 Depreciation of rights of use 93,167 934,486 50,259 217,770 165,011 29,925 — 1,490,618 Net periodic cost of employee benefits excluding items recognized in other comprehensive income 8,952,587 12,786,223 2,374,865 (12,222) 7,961,568 9,195 — 32,072,216 Interest income (1) 30,571 94,532 6,355 32,210 2,711,171 20,721 — 2,895,560 Interest cost (2) 1,890,797 1,126,091 44,259 502,953 33,150,042 187,604 — 36,901,746 (1) Included in financing income. (2) Included in financing cost. As of/ for the year ended Exploration Industrial Transformation (1) Logistics Trading Corporate Other operating Intersegment Total Total current assets 875,933,631 252,372,772 219,321,008 244,042,561 1,970,621,447 71,425,918 (3,175,323,293) 458,394,044 Total non-current assets 837,915,816 418,907,482 154,076,115 40,872,714 448,667,110 220,334,640 (527,069,750) 1,593,704,127 Total current liabilities 495,444,322 776,564,748 62,569,320 189,834,560 2,538,932,078 34,183,072 (3,174,879,770) 922,648,330 Total non-current liabilities 2,203,155,765 657,020,316 77,857,852 792,646 2,050,485,763 27,632,466 (1,717,494,184) 3,299,450,624 Equity (deficit), net (984,750,640) (762,304,810) 232,969,951 94,288,069 (2,170,129,284) 229,945,020 1,189,980,911 (2,170,000,783) |
Revenue (Tables)
Revenue (Tables) | 9 Months Ended |
Sep. 30, 2022 | |
Disclosure of disaggregation of revenue from contracts with customers [abstract] | |
Schedule of Revenue Disaggregation | For the nine- and three-month periods ended September 30, 2022 and 2021, the revenues were as follows: A. Revenue disaggregation For the nine-month period ended Exploration and Industrial Logistics DPRLP (1) Trading Corporate Other operating Total Geographical market 2022 United States Ps. 299,855,589 — — 189,995,176 186,156,710 — 1,572,358 677,579,833 Other 110,614,077 — — — 7,685,362 — 3,490,022 121,789,461 Europe 51,806,039 — — — 473,711 — — 52,279,750 Local 258,672 838,991,607 1,179,703 — 62,032,685 697 10,080,147 912,543,511 Incentive for automotive fuels — 103,720,586 — — — — — 103,720,586 Total Ps. 462,534,377 942,712,193 1,179,703 189,995,176 256,348,468 697 15,142,527 1,867,913,141 2021 United States Ps. 190,703,167 — — — 163,210,462 — 3,220,503 357,134,132 Other 97,011,172 — — — 8,634,286 — 426,538 106,071,996 Europe 47,753,474 — — — 1,410,469 — — 49,163,943 Local 210,115 493,236,168 2,134,218 — 36,207,403 1,349 5,539,255 537,328,508 Total Ps. 335,677,928 493,236,168 2,134,218 — 209,462,620 1,349 9,186,296 1,049,698,579 Major products and services 2022 Crude oil Ps. 462,275,705 — — — 855,600 — — 463,131,305 Gas 178,927 98,482,899 — — 81,767,753 — — 180,429,579 Refined petroleum products — 723,842,052 — 64,698,229 162,534,002 — — 951,074,283 Incentive for automotive fuels — 103,720,586 — — — — — 103,720,586 Other — 15,818,232 — 124,460,125 9,586,346 — 15,131,707 164,996,410 Services 79,745 848,424 1,179,703 836,822 1,604,767 697 10,820 4,560,978 Total Ps. 462,534,377 942,712,193 1,179,703 189,995,176 256,348,468 697 15,142,527 1,867,913,141 2021 Crude oil Ps. 335,467,813 — — — 3,465,416 — — 338,933,229 Gas 136,732 80,937,016 — — 52,260,340 — — 133,334,088 Refined petroleum products — 400,547,323 — — 139,154,419 — — 539,701,742 Other — 11,315,992 — — 13,756,790 — 9,178,781 34,251,563 Services 73,383 435,837 2,134,218 — 825,655 1,349 7,515 3,477,957 Total Ps. 335,677,928 493,236,168 2,134,218 — 209,462,620 1,349 9,186,296 1,049,698,579 Timing of revenue recognition 2022 Products transferred at a point in time Ps. 462,454,632 896,577,312 1,179,703 189,158,354 254,743,701 — 15,131,707 1,819,245,409 Products and services transferred over the time 79,745 46,134,881 — 836,822 1,604,767 697 10,820 48,667,732 Total Ps. 462,534,377 942,712,193 1,179,703 189,995,176 256,348,468 697 15,142,527 1,867,913,141 2021 Products transferred at a point in time Ps. 335,604,545 452,221,209 2,134,218 — 208,636,965 — 9,178,783 1,007,775,720 Products and services transferred over the time 73,383 41,014,959 — — 825,655 1,349 7,513 41,922,859 Total Ps. 335,677,928 493,236,168 2,134,218 — 209,462,620 1,349 9,186,296 1,049,698,579 (1) Beginning January 20, 2022, DPRLP information is now included as a separate business segment. For the three-month period ended Exploration and Industrial Logistics DPRLP (1) Trading Corporate Other operating Total Geographical market 2022 United States Ps. 93,636,395 — — 62,489,749 60,755,674 — 591,823 217,473,641 Other 42,547,831 — — — 3,537,791 — 442,082 46,527,704 Europe 17,930,576 — — — (1,852,636) — — 16,077,940 Local 65,111 294,777,732 424,185 — 23,057,020 169 3,746,185 322,070,402 Incentive for automotive fuels — 28,665,402 — — — — — 28,665,402 Total Ps. 154,179,913 323,443,134 424,185 62,489,749 85,497,849 169 4,780,090 630,815,089 2021 United States Ps. 73,764,760 — — — 62,211,796 — 1,752,012 137,728,568 Other 37,747,348 — — — 855,572 — 99,783 38,702,703 Europe 17,327,071 — — — 13,747 — — 17,340,818 Local 89,370 174,624,189 726,852 — 13,368,245 292 2,128,670 190,937,618 Total Ps. 128,928,549 174,624,189 726,852 — 76,449,360 292 3,980,465 384,709,707 Major products and services 2022 Crude oil Ps. 154,114,802 — — — 855,600 — — 154,970,402 Gas 41,358 33,893,671 — (4,592,291) 31,990,138 — — 61,332,876 Refined petroleum products — 256,507,009 — 3,654,126 45,070,568 — — 305,231,703 Incentive for automotive fuels — 28,665,402 — — — — — 28,665,402 Other — 4,071,502 — 63,428,467 7,045,816 — 4,775,659 79,321,444 Services 23,753 305,550 424,185 (553) 535,727 169 4,431 1,293,262 Total Ps. 154,179,913 323,443,134 424,185 62,489,749 85,497,849 169 4,780,090 630,815,089 2021 Crude oil Ps. 128,839,179 — — — 3,442,278 — — 132,281,457 Gas 58,749 26,658,180 — — 18,437,211 — — 45,154,140 Refined petroleum products — 143,534,048 — — 42,274,060 — — 185,808,108 Other — 4,170,693 — — 11,901,859 — 3,979,220 20,051,772 Services 30,621 261,268 726,852 — 393,952 292 1,245 1,414,230 Total Ps. 128,928,549 174,624,189 726,852 — 76,449,360 292 3,980,465 384,709,707 Timing of revenue recognition 2022 Products transferred at a point in time Ps. 154,156,160 305,782,974 424,185 62,490,302 84,962,122 — 4,775,659 612,591,402 Products and services transferred over the time 23,753 17,660,160 — (553) 535,727 169 4,431 18,223,687 Total Ps. 154,179,913 323,443,134 424,185 62,489,749 85,497,849 169 4,780,090 630,815,089 2021 Products transferred at a point in time Ps. 128,897,928 163,799,735 726,852 — 76,055,408 — 3,979,220 373,459,143 Products and services transferred over the time 30,621 10,824,454 — — 393,952 292 1,245 11,250,564 Total Ps. 128,928,549 174,624,189 726,852 — 76,449,360 292 3,980,465 384,709,707 |
Financial Instruments (Tables)
Financial Instruments (Tables) | 9 Months Ended |
Sep. 30, 2022 | |
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 September 30, 2022, and December 31, 2021. 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 (in thousands of Mexican pesos) Fair value hierarchy As of September 30, 2022 FVTPL FVOCI – debt FVOCI – equity Financial assets at Other financial Total carrying amount Level 1 Level 2 Level 3 Total Financial assets measured at fair value Derivative financial instruments 10,499,136 — — — — 10,499,136 — 10,499,136 — 10,499,136 Equity instruments(i) — — 533,658 — — 533,658 — 533,658 — 533,658 Total 10,499,136 — 533,658 — — 11,032,794 Financial assets not measured at fair value Cash and cash equivalents — — — 62,271,071 — 62,271,071 — — — — Customers — — — 130,514,339 — 130,514,339 — — — — Officials and employees — — — 4,343,719 — 4,343,719 — — — — Sundry debtors — — — 30,129,263 — 30,129,263 — — — — Investments in joint ventures and associates — — — 2,107,628 — 2,107,628 — — — — Notes receivable — — — 1,414,291 — 1,414,291 — — — — Mexican Government Bonds — — — 111,722,004 — 111,722,004 106,303,973 — — 106,303,973 Other assets — — — 7,210,679 — 7,210,679 — — — — Total — — — 349,712,994 — 349,712,994 Financial liabilities measured at fair value Derivative financial instruments (39,711,214) — — — — (39,711,214) — (39,711,214) — (39,711,214) Total (39,711,214) — — — — (39,711,214) Financial liabilities not measured at fair value Suppliers — — — — (262,654,610) (262,654,610) — — — — Accounts, accrued expenses payable and advance payments from customers (ii) — — — — (70,462,522) (70,462,522) — — — — Leases — — — — (55,011,280) (55,011,280) — — — — Debt — — — — (2,132,813,387) (2,132,813,387) — (1,708,838,766) — (1,708,838,766) Total — — — — (2,520,941,799) (2,520,941,799) (i) Refers to the participation in TAG Pipelines Sur, S. de R.L. de C.V. (ii) As of September 30, 2022, includes received advance payments for the future sale of turbosine of Ps. 17,590,055 and U.S. $306,570. Carrying amount (in thousands of Mexican pesos) Fair value hierarchy As of December 31, 2021 FVTPL FVOCI – debt FVOCI – equity Financial assets at Other financial Total carrying amount Level 1 Level 2 Level 3 Total Financial assets measured at fair value Derivative financial instruments 12,473,967 — — — — 12,473,967 — 12,473,967 — 12,473,967 Equity instruments(i) — — 448,949 — — 448,949 — 448,949 — 448,949 Total 12,473,967 — 448,949 — — 12,922,916 Financial assets not measured at fair value Cash and cash equivalents — — — 76,506,447 — 76,506,447 — — — — Customers — — — 101,259,081 — 101,259,081 — — — — Officials and employees — — — 3,752,692 — 3,752,692 — — — — Sundry debtors — — — 37,034,460 — 37,034,460 — — — — Investments in joint ventures and associates — — — 2,254,952 — 2,254,952 — — — — Notes receivable — — — 1,646,290 — 1,646,290 — — — — Mexican Government Bonds — — — 110,855,356 — 110,855,356 109,124,514 — — 109,124,514 Other assets — — — 4,537,481 — 4,537,481 — — — — Total — — — 337,846,759 — 337,846,759 Financial liabilities measured at fair value Derivative financial instruments (13,636,086) — — — — (13,636,086) — (13,636,086) — (13,636,086) Total (13,636,086) — — — — (13,636,086) Financial liabilities not measured at fair value Suppliers — — — — (264,056,358) (264,056,358) — — — — Accounts, accrued expenses payable and advance payments from customers — — — — (32,015,808) (32,015,808) — — — — Leases — — — — (59,351,648) (59,351,648) — — — — Debt — — — — (2,249,695,894) (2,249,695,894) — (2,211,701,630) — (2,211,701,630) Total — — — — (2,605,119,708) (2,605,119,708) (i) Refers to the participation in TAG Pipelines Sur, S. de R.L. de C.V. |
Summary Of Portfolio of Financial Instruments Composed of Debt Instruments and DFI | This portfolio of financial instruments is composed of debt instruments and DFIs as shown below: Reference Rate *Notional Amount Debt LIBOR 1M USD 681,933 LIBOR 3M USD 385,380 LIBOR 6M USD 710,673 EURIBOR 3M EUR 650,000 DFI LIBOR 1M USD 2,500,000 LIBOR 3M USD 156,250 LIBOR 6M USD 243,750 * Note: Notional amounts with maturity after September 30, 2022, for Euros and after June 30, 2023, for U.S. dollars. In the event that TIIE ceases to be published, the portfolio of financial instruments referenced to these floating rates is composed of debt instruments and DFIs as shown below: Reference Rate *Notional Amount Debt TIIE 28D MXN 24,909,830 TIIE 91D MXN 21,171,037 DFI TIIE 28D MXN 31,733,673 * Note: Notional amounts with maturity after September 30, 2022. |
Cash and Cash Equivalents (Tabl
Cash and Cash Equivalents (Tables) | 9 Months Ended |
Sep. 30, 2022 | |
Cash and cash equivalents [abstract] | |
Summary of Cash and Cash Equivalents | As of September 30, 2022 and December 31, 2021, cash and cash equivalents were as follows: September 30, 2022 December 31, 2021 Cash on hand and in banks (i) (ii) Ps. 39,561,892 Ps. 41,520,864 Highly liquid investments (iii) 22,709,179 34,985,583 Ps. 62,271,071 Ps. 76,506,447 (i) Cash on hand and in banks is primarily composed of cash in banks. (ii) As of December 31, 2021, includes Ps. 15,461,286 in cash, allocated to the retirement plan of benefits to employees. These resources are obtained from the collection of Government bonds that will be transferred exclusively to the Fideicomiso Fondo Laboral Pemex (“Pemex Labor Fund” or “FOLAPE”) for the payment of obligations related to pensions and retirement plans. (iii) Mainly composed of short-term Mexican Government investments. |
Customers and Other Financing_2
Customers and Other Financing and Non-Financing Accounts Receivable (Tables) | 9 Months Ended |
Sep. 30, 2022 | |
Trade and other receivables [abstract] | |
Summary of Accounts Receivable and Other Receivables | A. Customers September 30, 2022 December 31, 2021 Domestic customers, net Ps. 73,463,144 Ps. 54,031,475 Export customers, net 57,051,195 47,227,606 Total customers Ps. 130,514,339 Ps. 101,259,081 |
Summary of Other Accounts Receivable | B. Other financial and non-financial accounts receivable September 30, 2022 December 31, 2021 Financial assets: Sundry debtors (1) Ps. 30,129,263 Ps. 37,034,460 Employees and officers 4,343,719 3,752,693 Total financial Assets Ps. 34,472,982 Ps. 40,787,153 Non-financial assets: Taxes to be recovered and prepaid taxes Ps. 76,430,365 Ps. 80,581,955 Special Tax on Production and Services 44,749,952 53,176,800 Other accounts receivable 3,135,031 2,591,360 Total non-financial assets: Ps. 124,315,348 Ps. 136,350,115 (1) Includes Ps. (312,202) and Ps. (210,672) of impairment, as of September 30, 2022 and December 31, 2021, respectively. |
Inventories (Tables)
Inventories (Tables) | 9 Months Ended |
Sep. 30, 2022 | |
Disclosure of inventories [abstract] | |
Summary of Inventories | As of September 30, 2022 and December 31, 2021, inventories were as follows: September 30, 2022 December 31, 2021 Refined and petrochemicals products Ps. 73,864,875 Ps. 40,359,715 Products in transit 63,383,057 21,614,227 Crude oil 27,418,100 18,540,376 Materials and products in stock 5,488,139 5,036,587 Materials in transit 337,832 313,899 Gas and condensate products 295,674 248,338 Ps. 170,787,677 Ps. 86,113,142 |
Investments In Joint Ventures_2
Investments In Joint Ventures and Associates (Tables) | 9 Months Ended |
Sep. 30, 2022 | |
Investments in subsidiaries, joint ventures and associates reported in separate financial statements [abstract] | |
Schedule of Permanent Investments in joint Ventures and Associates | A. The investments in joint ventures and associates as of September 30, 2022 and December 31, 2021 were as follows: Percentage September 30, December 31, Deer Park Refining Limited Partnership (1) 49.995 % Ps. — Ps. 6,703,324 Sierrita Gas Pipeline LLC 35.00 % 1,064,301 1,187,170 Frontera Brownsville, LLC. 50.00 % 440,353 456,503 Texas Frontera, LLC. 50.00 % 188,320 195,814 CH 4 Energía, S. A. de C.V. 50.00 % 154,097 174,321 Administración Portuaria Integral de Dos Bocas, S. A. de C.V. 40.00 % 131,358 110,344 Other-net Various 129,199 130,800 Total 2,107,628 8,958,276 (Impairment) in joint venture Deer Park Refining Limited Partnership (2) — (6,703,324) Ps. 2,107,628 Ps. 2,254,952 (1) As of December 31, 2021, PEMEX owned 49.995% interest in DPRLP, accordingly DPRLP was recognized through the equity method in the financial statements of PEMEX. As of September 30, 2022, PEMEX owns 100% interest in DPRLP and has control of the company. Accordingly, DPRLP is consolidated in the financial statements of PEMEX. (2) As of December 31, 2021, the investment in Deer Park was totally impaired (see subsection B.). |
Schedule (Loss) profit Sharing in Joint Ventures and Associates | Profit (loss) sharing in joint ventures and associates: For the nine- month period ended September 30, 2022 2021 Deer Park Refining Limited Partnership Ps. — Ps. (3,320,804) Sierrita Gas Pipeline, LLC. 97,616 100,215 CH4 Energía, S. A. de C.V. 23,275 19,540 Administración Portuaria Integral de Dos Bocas, S.A. de C.V. 21,014 (79,083) Frontera Brownsville, LLC. 17,056 30,500 Texas Frontera, LLC. 10,824 18,366 Ductos el Peninsular, S. A. P. I. de C. V. (370) (18) Other, net 62,934 64,601 Profit (loss) sharing in joint ventures and associates, net Ps. 232,349 (3,166,683) For the three-month period ended 2022 2021 Deer Park Refining Limited Partnership Ps. — Ps. 4,351 Administración Portuaria Integral de Dos Bocas, S.A. de C.V. 18,813 (43,906) Sierrita Gas Pipeline, LLC. 16,171 33,339 Frontera Brownsville, LLC. 9,628 6,385 Texas Frontera, LLC. 3,568 4,904 CH4 Energía, S. A. de C.V. 2,466 12,366 Ductos el Peninsular, S. A. P. I. de C. V. (396) (16) Other, net 20,951 24,178 Profit (loss) sharing in joint ventures and associates, net Ps. 71,201 41,601 |
Summary of fair value of identifiable assets acquired | Identifiable assets acquired and liabilities assumed. The following table summarizes the fair value of the identifiable assets acquired. Cash and cash equivalents Ps. 1,597,759 U.S.$ 78,310 Inventories 6,918,473 339,091 Other current assets 131,661 6,453 Total current Assets 8,647,893 423,854 Property, Plant and Equipment 29,669,961 1,454,196 Total identifiable net assets acquired Ps. 38,317,854 U.S.$ 1,878,050 |
Wells, Pipelines, Properties,_2
Wells, Pipelines, Properties, Plant and Equipment, Net (Tables) | 9 Months Ended |
Sep. 30, 2022 | |
Disclosure of detailed information about property, plant and equipment [abstract] | |
Detailed Information About Property, Plant and Equipment | As of September 30, 2022 and December 31, 2021, 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 Unproductive Total fixed assets Investment Balances as of January 1, 2021 Ps. 811,705,022 13,492,631 481,791,665 1,387,228,249 60,311,739 354,353,029 48,829,010 16,829,532 161,870,424 44,225,819 — 3,380,637,120 Acquisitions 7,963,546 — 2,255,478 18,125,341 11,312 2,606,668 802,055 119,759 68,499,434 7,958 — 100,391,551 Reclassifications 3,154,806 — (7,699) 105,873 65 (2,931,778) 2,082 73,211 (103,587) 41,205 1,625 335,803 Capitalization 1,520,740 — 2,256,417 28,673,456 287,955 2,148,170 129,397 — (35,016,135) — — — Disposals (118,695) — (115) — — — (86,428) (24,619) (71,339) — (204) (301,400) Balances as of September 30, 2021 Ps. 824,225,419 13,492,631 486,295,746 1,434,132,919 60,611,071 356,176,089 49,676,116 16,997,883 195,178,797 44,274,982 1,421 3,481,063,074 Balances as of January 1, 2021 811,705,022 13,492,631 481,791,665 1,387,228,249 60,311,739 354,353,029 48,829,010 16,829,532 161,870,424 44,225,819 — 3,380,637,120 Acquisitions 16,202,848 57,182 4,008,698 31,584,832 287,710 4,630,358 974,167 326,998 122,214,783 57,092 — 180,344,668 Reclassifications 3,218,834 — (507,065) 64,049 115 (2,931,778) 2,049 130,971 127,142 276,866 524,679 905,862 Impairment presentation (2) 113,522,135 (1,217) 24,292,290 121,070,386 9,817,972 67,305,005 (328,799) 6,303,440 36,777,946 — — 378,759,158 Capitalization 8,292,881 — 3,923,149 43,076,120 294,044 4,659,693 152,540 5,235,745 (65,840,388) 206,216 — — Disposals (1,455,531) — (18,032,858) (95,061,066) — (12,131,094) (318,412) (292,249) (1,714,397) — (524,679) (129,530,286) Balances as of December 31, 2021 Ps. 951,486,189 13,548,596 495,475,879 1,487,962,570 70,711,580 415,885,213 49,310,555 28,534,437 253,435,510 44,765,993 — 3,811,116,522 Acquisitions (3) 29,011,070 365,480 2,153,240 22,648,940 2,129,720 1,180,740 5,447,380 2,877,230 166,324,927 56,240 — 232,194,967 Reclassifications 1,325,400 — — — — (1,039,690) (202,330) (4,721,920) 4,557,790 — — (80,750) Capitalization 16,103,330 — 7,900,270 48,128,330 930,740 2,376,410 702,690 1,116,720 (77,672,310) 413,820 — — Disposals (1,513,220) (893,530) (252,940) — (60,140) (130) (351,550) (696,380) (2,375,930) (400,700) — (6,544,520) Translation effect (1,154,917) — (23,310) — (106,400) — (56,280) (60,590) (381,840) (32,860) — (1,816,197) Balances as of September 30, 2022 Ps. 995,257,852 13,020,546 505,253,139 1,558,739,840 73,605,500 418,402,543 54,850,465 27,049,497 343,888,147 44,802,493 — 4,034,870,022 Plants Drilling Pipelines Wells Buildings Offshore Furniture and Transportation Construction in progress (1) Land Unproductive Total fixed assets Accumulated depreciation and amortization Balances as of January 1, 2021 Ps. (520,582,198) (5,902,442) (200,976,329) (1,081,366,803) (39,893,540) (204,238,464) (43,336,870) (8,210,953) — — — (2,104,507,599) Depreciation and amortization (26,230,863) (313,450) (10,943,480) (49,210,710) (1,368,441) (10,650,961) (1,493,639) (408,477) — — — (100,620,021) Reclassification (292,377) — (47,505) — (25,026) 49,841 1,296 (22,032) — — — (335,803) (Impairment) (13,949,961) — (11,353,737) (24,319,176) — — — — (1,324,521) — (1,421) (50,948,816) Reversal of impairment 17,595,386 — 1,550,200 66,330,576 — 3,264,122 — 328,176 122,820 — — 89,191,280 Disposals 70,173 — (70,669) — 16,934 — 50,029 20,353 — — — 86,820 Balances as of September 30, 2021 Ps. (543,389,840) (6,215,892) (221,841,520) (1,088,566,113) (41,270,073) (211,575,462) (44,779,184) (8,292,933) (1,201,701) — (1,421) (2,167,134,139) Balances as of January 1, 2021 Ps. (520,582,198) (5,902,442) (200,976,329) (1,081,366,803) (39,893,540) (204,238,464) (43,336,870) (8,210,953) — — — (2,104,507,599) Depreciation and amortization (39,126,110) (395,756) (16,731,217) (56,070,192) (1,846,486) (16,627,864) (2,008,187) (625,553) — — — (133,431,365) (Impairment) (43,670,755) — (25,193,511) (62,151,433) — (5,503,546) — (108,749) (21,233,314) — — (157,861,308) Reversal of impairment 38,499,016 — 23,545,676 72,569,176 — 20,727,844 — — 1,309,001 — — 156,650,713 Reclassitications (4,541,518) 15,413 (90,202) (89,082) 5,701,953 51,568 59,141 103,085 (2,116,220) — — (905,862) Impairment presentation (2) (113,522,135) 1,217 (24,292,290) (121,070,386) (9,817,972) (67,305,005) 328,799 (6,303,440) (36,777,946) — — (378,759,158) Disposals 453,965 — 7,300,538 65,307,692 — 8,820,911 261,910 85,648 — — — 82,230,664 Balances as of December 31, 2021 Ps. (682,489,735) (6,281,568) (236,437,335) (1,182,871,028) (45,856,045) (264,074,556) (44,695,207) (15,059,962) (58,818,479) — — (2,536,583,915) Depreciation and amortization (28,447,920) (331,820) (11,578,310) (49,906,090) (1,430,920) (11,827,740) (2,134,580) (575,010) — — — (106,232,390) Reclassification (28,640) — — — — 28,200 77,150 4,040 — — — 80,750 (Impairment) (25,633,448) — (1,321,170) (12,148,001) — (8,187,040) — — (1,505,294) — — (48,794,953) Reversal of impairment 67,221,448 — 7,814,245 15,302,089 — 13,456,757 — — 1,874,260 — — 105,668,799 Disposals 179,220 — 267,010 — 56,260 — 156,240 371,540 — — — 1,030,270 Translation effect 802,590 226,180 31,730 71,680 75,730 — 278,300 6,963 — — — 1,493,173 Balances as for September 30, 2022 Ps. (668,396,485) (6,387,208) (241,223,830) (1,229,551,350) (47,154,975) (270,604,379) (46,318,097) (15,252,429) (58,449,513) — — (2,583,338,266) Wells, pipelines, properties, plant and equipment—net as of September 30, 2021 Ps. 280,835,579 7,276,739 264,454,226 345,566,806 19,340,998 144,600,627 4,896,932 8,704,950 193,977,096 44,274,982 — 1,313,928,935 Wells, pipelines, properties, plant and equipment—net as of December 31, 2021 Ps. 268,996,454 7,267,028 259,038,544 305,091,542 24,855,535 151,810,657 4,615,348 13,474,475 194,617,031 44,765,993 — 1,274,532,607 Wells, pipelines, properties, plant and equipment—net as of September 30, 2022 Ps. 326,861,367 6,633,338 264,029,309 329,188,490 26,450,525 147,798,164 8,532,368 11,797,068 285,438,634 44,802,493 — 1,451,531,756 Depreciation rates 3 a 5% 5 % 2 a 7% — 3 a 7% 4 % 3 a 10% 4 a 20% Estimated useful lives 20 a 35 20 15 a 45 — 33 a 35 25 3 a 10 5 a 25 (1) Mainly wells, pipelines and plants. (2) To present the accumulated effect of impairment as part of the accumulated depreciation and amortization. This presentation does not affect the net value of wells, pipelines, properties, plant and equipment. (3) On January 20, 2022, PEMEX acquired assets with a cost of Ps. 29,669,961, mainly plants. This amount includes assets acquired through a business combination (see Note 12). A. For the nine-month periods ended September 30, 2022 and 2021, 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. 3,201,474 and Ps. 2,278,835, respectively. Financing cost rates during the nine-month periods ended September 2022 and 2021 were 5.40% to 6.64% and 6.15% to 6.48%, respectively. B. The combined depreciation of fixed assets and amortization of wells for the nine-month periods ended September 30, 2022 and 2021, recognized in operating costs and expenses, was Ps. 106,232,390 and Ps. 100,620,021, respectively which includes costs related to plugging and abandonment of wells for the nine-month periods ended September 30, 2022 and 2021 of Ps. 72,321 and Ps. 111,453, respectively. C. As of September 30, 2022 and December 31, 2021, provisions relating to future plugging of wells costs amounted to Ps. 73,003,139 and Ps. 70,144,756, respectively, and are presented in the “Provisions for plugging of wells” (see Note 17). D. As of September 30, 2022 and 2021, the translation effect of property, plant and equipment items from a different currency than the presentation currency was Ps. (323,024) and Ps. 1,765,350, respectively, which was mainly plant. E. During the nine-month periods ended September 30, 2022 and 2021, PEMEX recognized a reversal of impairment of Ps. 56,873,846, and Ps. 38,242,464, respectively, which is presented as a separate line item in the consolidated statement of comprehensive income as follows: |
Summary of Net Impairment and Net Reversal of Impairment | E. During the nine-month periods ended September 30, 2022 and 2021, PEMEX recognized a reversal of impairment of Ps. 56,873,846, and Ps. 38,242,464, respectively, which is presented as a separate line item in the consolidated statement of comprehensive income as follows: For the nine-month periods ended September 30, 2022 2021 Reversal of (Impairment) Reversal of Reversal of (Impairment) Reversal of Pemex Exploration and Production Ps. 37,007,434 (25,047,799) Ps. 11,959,635 Ps. 74,064,522 (36,428,848) Ps. 37,635,674 Pemex Industrial Transformation 66,836,020 (23,747,154) 43,088,866 14,798,584 (14,519,968) 278,616 Pemex Logistics 1,542,908 — 1,542,908 328,174 — 328,174 MGAS 282,437 — 282,437 — — — Total Ps. 105,668,799 (48,794,953) Ps. 56,873,846 Ps. 89,191,280 (50,948,816) Ps. 38,242,464 The net reversal of impairment by Cash-Generating Units (GGUs) include the net cumulative effect of impairment and reversal of impairment determined during the nine-month period September 30, 2022 and 2021 as follows: 2022 2021 Cantarell Ps. 18,195,996 Ps. 39,981,311 Burgos 9,124,073 — Antonio J. Bermúdez 6,252,924 6,342,147 Tamaulipas Constituciones 1,603,470 2,678,561 Tsimin Xux 766,217 — Ogarrio Magallanes 530,061 — Cuenca Macuspana 267,549 20,188 Misión (Cee) 234,658 — Ébano 32,486 — Aceite Terciario del Golfo — 13,493,508 Crudo Ligero Marino — 8,633,963 Arenque — 959,456 Chuc — 1,473,714 Ixtal - Manik — 481,674 Reversal of impairment 37,007,434 74,064,522 Ogarrio Magallanes (9,563,163) (308,809) Tsimin Xux (8,902,374) (13,576,172) Burgos (2,965,348) (7,213,977) Lakach (1,123,087) (368,455) Tamaulipas Constituciones (916,937) (376,676) Chuc (893,504) (10,556,097) Antonio J. Bermudez (276,546) — Cuenca Macuspana (193,728) (146,431) Misión (Cee) (151,347) (297,469) Ébano (61,765) — Cantarell — (1,149,238) Crudo Ligero Marino — (621,456) Arenque — (202,649) Ku-Maloob-Zaap — (993,579) Cuenca de Veracruz — (494,368) Cactus Sitio Grande — (123,472) (Impairment) (25,047,799) (36,428,848) Reversal (impairment) net Ps. 11,959,635 Ps. 37,635,674 |
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 September 30, 2022 2021 Average crude oil price 58.64 USD/bl 54.99 USD/bl Average gas price 4.85 USD/mpc 4.70 USD/mpc Average condensates price 64.98 USD/bl 64.29 USD/bl Discount rate 7.21% annual 5.90% annual |
Summary of Reversal Impairment Loss For CGUs | The net reversal of impairment by GGUs include the net cumulative effect of impairment and reversal of impairment determined during the nine-month period September 30, 2022 and 2021 as follows: 2022 2021 Minatitlán Refinery Ps. 32,753,878 Ps. 4,926,256 Madero Refinery 21,042,822 1,344,916 Tula Refinery 9,830,444 5,712,131 Cosoleacaque Petrochemical Complex 2,887,875 — Morelos Petrochemical Complex 151,737 2,815,281 New Pemex Gas Processing Complex 137,669 — Pajaritos Ethylene Processor Complex 31,595 — Reversal of impairment 66,836,020 14,798,584 Morelos Petrochemical Complex (7,580,085) (767,243) Cangrejera Ethylene Processor Complex (5,683,409) — Madero Refinery (3,594,516) (5,861,975) Cosoleacaque Petrochemical Complex (3,278,609) (1,324,519) Poza Rica Gas Processing Complex (3,200,227) — Cangrejera Petrochemical Complex (251,035) — Minatitlán Refinery (159,273) (6,566,231) Impairment (23,747,154) (14,519,968) Reversal of impairment Ps. 43,088,866 Ps. 278,616 As of September 30, 2022 and 2021, the reversal of impairment were in the following CGUs: 2022 2021 Construction in progress Ps. 1,542,908 Ps. — Transport (white pipelines) — 328,174 Reversal of impairment Ps. 1,542,908 Ps. 328,174 |
Summary of Recoverable Amount of Assets | As of September 30, 2022 and 2021, the value in use for the impairment of fixed assets was as follows: 2022 2021 Salina Cruz Refinery Ps. 88,243,043 Ps. 50,208,309 Tula Refinery 73,301,942 55,499,327 Minatitlán Refinery 52,761,544 15,396,795 New Pemex Gas Processing Complex 27,668,082 — Madero Refinery 21,476,184 1,635,845 Cangrejera Pretrochemicals Complex 10,207,253 9,335,695 Poza Rica Gas Processor Complex 559,754 — Cosoleacaque Complex 300,018 — Morelos Ethylene Processor Complex — 11,103,807 Total Ps. 274,517,820 Ps. 143,179,778 |
Intangible Assets, Net (Tables)
Intangible Assets, Net (Tables) | 9 Months Ended |
Sep. 30, 2022 | |
Disclosure of detailed information about intangible assets [abstract] | |
Schedule of Intangible Assets, Net are Wells Unassigned to a Reserve | A. Wells unassigned to a reserve September 30, December 31, September 30, Wells unassigned to a reserve: Balance at the beginning of the period Ps. 18,639,136 21,435,160 21,435,160 Additions to construction in progress 22,076,678 25,377,983 15,622,899 Transfers against expenses (6,004,297) (12,565,711) (11,663,560) Transfers against fixed assets (8,128,832) (15,608,296) (8,423,843) Balances at the end of the period Ps. 26,582,685 18,639,136 16,970,656 |
Schedule of Other Components of Intangible Assets | B. Other intangible assets September 30, December 31, Licenses Ps. 9,322,974 5,243,953 Exploration expenses, evaluation of assets and concessions 1,833,385 1,860,718 Amortization accumulated (6,272,560) (5,727,661) Balance at the end of the period Ps. 4,883,799 1,377,010 |
Government Bonds, Long-Term N_2
Government Bonds, Long-Term Notes Receivable And Other Assets (Tables) | 9 Months Ended |
Sep. 30, 2022 | |
Disclosure Of Notes Receivable Government Bonds And Other Long Term Assets [Abstract] | |
Summary of Balance of Government Bonds | A. Government bonds As of September 30, 2022 and December 31, 2021, the balance of Government bonds, includes Government bonds valued at amortized cost as follows: 2022 2021 Government bonds (1) Ps. 111,722,004 110,855,356 Less: current portion of Government bonds, net of expected credit losses 32,126,173 1,253,451 Total long-term notes receivable Ps. 79,595,831 109,601,905 (1) As of September 30, 2022 and December 31, 2021, includes an expected credit loss of Ps. 9,688 and Ps. 13,038, respectively. |
Summary of Roll forward of the Government Bonds | The roll-forward of the Government bonds is as follows: September 30, 2022 December 31, Balance as of the beginning of the period Ps. 110,855,356 129,549,519 Government bonds collected — (15,788,696) (1) Accrued interests 5,425,943 7,094,180 Interests received from bonds (6,215,759) (7,126,559) Impact of the valuation of bonds in UDIS 384,530 459,149 Amortized cost 1,268,584 (3,336,781) Reversal (Impairment) of bonds 3,350 4,544 Balance at the end of the period Ps. 111,722,004 110,855,356 (1) Government bonds were collected on December 9, 2021. |
Summary of Other Assets | C. Other assets As of September 30, 2022 and December 31, 2021, the balance of other assets was as follows: September 30, December 31, Payments in advance (1) Ps. 40,753,991 35,931,167 Other 2,709,030 2,327,872 Insurance 923,696 853,891 Total other assets Ps. 44,386,717 39,112,930 (1) Mainly advance payments to contractors for the construction of the Dos Bocas Refinery through PTI ID. |
Debt (Tables)
Debt (Tables) | 9 Months Ended |
Sep. 30, 2022 | |
Disclosure of long term debt [abstract] | |
Summary Of Detailed Information About Borrowings | Principal Security Issuer Guarantors (U.S.$) 6.875% Notes due 2025 Petróleos Mexicanos Pemex Exploration and Production, Pemex Industrial Transformation and Pemex Logistics 901,836 6.700% Notes due 2032 Petróleos Mexicanos Pemex Exploration and Production, Pemex Industrial Transformation and Pemex Logistics 6,779,842 |
Summary of Changes in Consolidated Debt | The following table presents the roll-forward of total debt of PEMEX for the nine-month periods ended September 30, 2022 and 2021, and for the year ended December 31, 2021, which includes short and long-term debt: September 30, 2022 (i) December 31, 2021 (i) September 30, 2021 (i) Changes in total debt: At the beginning of the period Ps. 2,249,695,894 2,258,727,317 2,258,727,317 Loans obtained - financing institutions (ii) 760,249,760 1,652,151,747 1,058,854,764 Debt payments (799,148,919) (1,707,581,580) (1,027,818,098) Accrued interest (iii)(iv)(v) 110,204,259 162,903,771 109,254,054 Interest paid (123,300,926) (157,256,625) (123,430,793) Foreign exchange (64,886,681) 40,751,264 19,895,393 At the end of the period Ps. 2,132,813,387 2,249,695,894 2,295,482,637 (i) These amounts include accounts payable by Financed Public Works Contracts (“FPWC”) (formerly known as Multiple Services Contracts), which do not generate cash flows. (ii) Petróleos Mexicanos implemented a factoring arrangement to support its suppliers. Amounts as of December 31, 2021 totaled Ps. 15,934,904, which did not represent cash flows. (iii) As of September 30, 2022, includes awards amortization, fees and expenses related to the issuance of debt in the amount of Ps. 297,604 and Ps. (355,978), respectively, and amortized cost of Ps. 4,500,734. (iv) As of December 31, 2021, includes awards amortization, fees and expenses related to the issuance of debt in the amount of Ps. 3,290,673 and Ps. (2,835,359), respectively, and amortized cost of Ps. 6,226,947. (v) As of September 30, 2021, includes awards amortization, fees and expenses related to the issuance of debt in the amount of Ps. 208,088 and Ps. (337,691), respectively, and amortized cost of Ps. 428,452. |
Summary of Foreign Currency Translation | As of September 30, 2022 and December 31, 2021, PEMEX used the following exchange rates to translate the outstanding balances in foreign currencies to pesos in the statement of financial position: September 30, 2022 December 31, U.S. dollar Ps. 20.3058 20.5835 Japanese yen 0.1410 0.1789 Pounds sterling 22.1617 27.8834 Euro 19.7839 23.4086 Swiss francs 20.8072 22.5924 |
Provisions for Sundry Credito_2
Provisions for Sundry Creditors (Tables) | 9 Months Ended |
Sep. 30, 2022 | |
Disclosure of other provisions [abstract] | |
Summary of Provisions for Sundry Creditors and Others | As of September 30, 2022 and December 31, 2021, the provisions for sundry creditors and others is as follows: September 30, December 31, Provision for plugging of wells (see Note 13-C) Ps. 73,003,139 70,144,756 Provision for trails in process (see Note 19) 9,444,409 11,114,006 Provision for environmental costs 15,711,986 11,138,904 Ps. 98,159,534 92,397,666 |
Equity (Deficit) (Tables)
Equity (Deficit) (Tables) | 9 Months Ended |
Sep. 30, 2022 | |
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, 2020 Ps. 524,931,447 Increase in Certificates of Contribution “A” during 2021 316,354,129 Certificates of Contribution “A” as of December 31, 2021 Ps. 841,285,576 Increase in Certificates of Contribution “A” during the six-month periods ended September 30, 2022 107,990,006 Certificates of Contribution “A” as of September 30, 2022 Ps. 949,275,582 |
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 2022 totaled Ps. 107,990,006 were designated for the construction of the Dos Bocas Refinery and for the payment of debt, as follows: Date Payment of debt Construction of the Rehabilitation Plan of the refineries January 21 Ps. 19,321,641 — — January 21 — 7,500,000 — February 14 — 7,500,000 — March 8 26,115,898 — — March 8 — 7,500,000 — April 28 — 762,100 — May 26 — 21,737,900 — July 29 — — 969,342 August 19 — 4,000,000 — August 30 — 2,000,000 — September 6 — — 683,125 September 8 — 2,500,000 — September 14 — 2,500,000 — September 22 — 2,500,000 — September 28 — 2,400,000 — Total Ps. 45,437,539 60,900,000 1,652,467 During the period from October 1 to December 7, 2022, the Mexican Government, through the Ministry of Energy, made equity capital contributions to Petróleos Mexicanos for the construction of the Dos Bocas Refinery and Rehabilitation Plan of the refineries as follows: Fecha Contributions for the construction of the Dos Bocas Refinery Rehabilitation Plan of the refineries October 4 Ps. — 1,618,523 October 6 2,500,000 — October 13 2,500,000 — October 20 2,500,000 — October 28 2,500,000 — November 4 2,500,000 — November 7 — 1,805,296 November 10 2,500,000 — November 17 2,500,000 — November 25 — 892,893 November 25 2,500,000 — December 1 4,000,000 — December 2 800,000 — Total Ps. 24,800,000 4,316,712 |
Subsequent Events (Tables)
Subsequent Events (Tables) | 9 Months Ended |
Sep. 30, 2022 | |
Disclosure of non-adjusting events after reporting period [abstract] | |
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 2022 totaled Ps. 107,990,006 were designated for the construction of the Dos Bocas Refinery and for the payment of debt, as follows: Date Payment of debt Construction of the Rehabilitation Plan of the refineries January 21 Ps. 19,321,641 — — January 21 — 7,500,000 — February 14 — 7,500,000 — March 8 26,115,898 — — March 8 — 7,500,000 — April 28 — 762,100 — May 26 — 21,737,900 — July 29 — — 969,342 August 19 — 4,000,000 — August 30 — 2,000,000 — September 6 — — 683,125 September 8 — 2,500,000 — September 14 — 2,500,000 — September 22 — 2,500,000 — September 28 — 2,400,000 — Total Ps. 45,437,539 60,900,000 1,652,467 During the period from October 1 to December 7, 2022, the Mexican Government, through the Ministry of Energy, made equity capital contributions to Petróleos Mexicanos for the construction of the Dos Bocas Refinery and Rehabilitation Plan of the refineries as follows: Fecha Contributions for the construction of the Dos Bocas Refinery Rehabilitation Plan of the refineries October 4 Ps. — 1,618,523 October 6 2,500,000 — October 13 2,500,000 — October 20 2,500,000 — October 28 2,500,000 — November 4 2,500,000 — November 7 — 1,805,296 November 10 2,500,000 — November 17 2,500,000 — November 25 — 892,893 November 25 2,500,000 — December 1 4,000,000 — December 2 800,000 — Total Ps. 24,800,000 4,316,712 |
Authorization and Basis of Pr_2
Authorization and Basis of Preparation - Additional Information (Detail) | 9 Months Ended | 12 Months Ended |
Sep. 30, 2022 | Dec. 31, 2021 | |
Disclosure Of Basis Of Preparation [abstract] | ||
Employee benefits provision | 29% | 33% |
Subsidiary Entities and Subsi_2
Subsidiary Entities and Subsidiary Companies - Additional Information (Detail) | 9 Months Ended |
Sep. 30, 2022 | |
Disclosure of subsidiaries [line items] | |
Proportion of ownership interest held (as percent) | 100% |
PMI CIM | |
Disclosure of subsidiaries [line items] | |
Proportion of voting rights held in subsidiary (as percent) | 98.33% |
COMESA | |
Disclosure of subsidiaries [line items] | |
Proportion of voting rights held in subsidiary (as percent) | 60% |
Segment Financial Information -
Segment Financial Information - Additional Information (Detail) | 9 Months Ended | |
Sep. 30, 2022 Segment customer | Sep. 30, 2021 Segment | |
Disclosure of operating segments [abstract] | ||
Number of business segments | Segment | 7 | 6 |
Number of major customers | customer | 17 |
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 | 9 Months Ended | ||||
Sep. 30, 2022 | Sep. 30, 2021 | Sep. 30, 2022 | Sep. 30, 2021 | Dec. 31, 2021 | Dec. 31, 2020 | |
Sales: | ||||||
Trade | $ 629,521,827 | $ 383,295,477 | $ 1,863,352,163 | $ 1,046,220,622 | ||
Intersegments | 0 | |||||
Services income | 1,293,262 | 1,414,230 | 4,560,978 | 3,477,957 | ||
Reversal of impairment of wells, pipelines, properties, plant and equipment, net | (7,254,264) | 6,050,004 | 56,873,846 | 38,242,464 | ||
Cost of sales | 475,937,325 | 268,452,309 | 1,274,735,408 | 732,291,029 | ||
Gross income (loss) | 147,623,500 | 122,307,402 | 650,051,579 | 355,650,014 | ||
Distribution, transportation and sales expenses | 4,260,756 | 2,476,971 | 10,983,602 | 9,390,723 | ||
Administrative expenses | 37,760,320 | 38,239,566 | 112,258,337 | 105,489,921 | ||
Other revenue | 12,725,689 | 6,865,156 | 36,798,482 | 12,348,570 | ||
Other expenses | (2,255,555) | (2,613,251) | (5,694,879) | (3,569,068) | ||
Operating income (loss) | 116,072,558 | 85,842,770 | 557,913,243 | 249,548,872 | ||
Financing income | 3,652,514 | 4,862,882 | 20,957,224 | 20,083,884 | ||
Financing cost | (45,543,598) | (36,248,904) | (109,790,653) | (110,411,972) | ||
Derivative financial instruments (cost) income, net | (12,982,694) | (9,274,432) | (37,491,847) | (21,632,280) | ||
Foreign exchange income (loss), net | (9,343,509) | (47,003,832) | 72,106,662 | (23,407,879) | ||
Profit (loss) sharing in joint ventures and associates | 71,201 | 41,601 | 232,349 | (3,166,683) | ||
Taxes, duties and other | 103,959,820 | 75,464,497 | 308,311,219 | 211,251,718 | ||
Net income (loss) | (52,033,348) | (77,244,412) | 195,615,759 | (100,237,776) | ||
Total current assets | 571,001,045 | 571,001,045 | $ 458,394,044 | |||
Total non-current assets | 1,745,378,257 | 1,745,378,257 | 1,593,704,127 | |||
Total current liabilities | 892,452,250 | 892,452,250 | 922,648,330 | |||
Total non-current liabilities | 3,022,542,306 | 3,022,542,306 | 3,299,450,624 | |||
Equity (deficit), net | (1,598,615,254) | (2,090,666,509) | (1,598,615,254) | (2,090,666,509) | (2,170,000,783) | $ (2,404,727,030) |
Depreciation and amortization | 36,818,398 | 32,422,154 | 106,232,390 | 100,620,021 | ||
Depreciation of rights of use | 1,538,947 | 1,490,618 | 4,334,169 | 4,744,781 | ||
Net periodic cost of employee benefits excluding items recognized in other comprehensive income | 31,377,251 | 32,072,216 | 94,978,510 | 91,179,764 | ||
Interest income | 3,864,868 | 2,895,560 | 8,596,963 | 6,067,388 | ||
Interest cost | 35,343,737 | 36,901,746 | 101,971,587 | 106,044,371 | ||
Intersegment eliminations | ||||||
Sales: | ||||||
Intersegments | (596,289,899) | (311,059,518) | (1,614,923,680) | (848,632,096) | ||
Cost of sales | (576,590,355) | (291,483,573) | (1,557,986,203) | (797,762,540) | ||
Gross income (loss) | (19,699,544) | (19,575,945) | (56,937,477) | (50,869,556) | ||
Distribution, transportation and sales expenses | (1,051,905) | (934,853) | (3,199,277) | (2,851,062) | ||
Administrative expenses | (18,262,699) | (18,584,493) | (53,284,177) | (47,922,159) | ||
Other expenses | 382,912 | 49,366 | 465,355 | 4,175 | ||
Operating income (loss) | (2,028) | (105,965) | 11,332 | (100,510) | ||
Financing income | (58,045,724) | (51,308,904) | (168,845,398) | (148,174,873) | ||
Financing cost | 58,047,748 | 51,414,870 | 168,834,063 | 148,275,384 | ||
Profit (loss) sharing in joint ventures and associates | 39,205,079 | 67,579,885 | (288,265,267) | 60,200,462 | ||
Net income (loss) | 39,205,075 | 67,579,886 | (288,265,270) | 60,200,463 | ||
Total current assets | (2,867,393,437) | (2,867,393,437) | (3,175,323,293) | |||
Total non-current assets | (1,053,231,883) | (1,053,231,883) | (527,069,750) | |||
Total current liabilities | (2,867,156,903) | (2,867,156,903) | (3,174,879,770) | |||
Total non-current liabilities | (1,586,059,575) | (1,586,059,575) | (1,717,494,184) | |||
Equity (deficit), net | 532,591,158 | 532,591,158 | 1,189,980,911 | |||
Exploration and Production | ||||||
Sales: | ||||||
Trade | 154,156,160 | 128,897,928 | 462,454,632 | 335,604,545 | ||
Intersegments | 188,013,478 | 114,921,318 | 562,033,202 | 315,840,615 | ||
Services income | 23,753 | 30,621 | 79,745 | 73,383 | ||
Reversal of impairment of wells, pipelines, properties, plant and equipment, net | (9,587,839) | 9,443,446 | 11,959,635 | 37,635,674 | ||
Cost of sales | 157,832,041 | 126,291,748 | 438,349,515 | 328,653,112 | ||
Gross income (loss) | 174,773,511 | 127,001,565 | 598,177,699 | 360,501,105 | ||
Distribution, transportation and sales expenses | (36,771) | 62,693 | 190,138 | 230,436 | ||
Administrative expenses | 15,122,898 | 17,753,595 | 46,535,113 | 43,907,361 | ||
Other revenue | 5,301,714 | 3,148,554 | 8,785,857 | 4,526,734 | ||
Other expenses | (1,146,357) | (2,104,376) | (3,411,063) | (3,146,208) | ||
Operating income (loss) | 163,842,741 | 110,229,455 | 556,827,242 | 317,743,834 | ||
Financing income | 15,183,482 | 17,230,225 | 59,869,852 | 55,124,171 | ||
Financing cost | (39,606,205) | (30,963,086) | (99,041,024) | (95,271,585) | ||
Derivative financial instruments (cost) income, net | (16,901,477) | (10,894,207) | (37,522,838) | (19,316,381) | ||
Foreign exchange income (loss), net | (4,302,160) | (39,266,376) | 70,391,771 | (16,401,846) | ||
Profit (loss) sharing in joint ventures and associates | (28,249) | (93,864) | (433,797) | (286,382) | ||
Taxes, duties and other | 107,525,698 | 78,338,315 | 316,217,028 | 213,889,840 | ||
Net income (loss) | 10,662,434 | (32,096,168) | 233,874,178 | 27,701,971 | ||
Total current assets | 971,923,362 | 971,923,362 | 875,933,631 | |||
Total non-current assets | 873,997,093 | 873,997,093 | 837,915,816 | |||
Total current liabilities | 517,219,318 | 517,219,318 | 495,444,322 | |||
Total non-current liabilities | 2,003,388,815 | 2,003,388,815 | 2,203,155,765 | |||
Equity (deficit), net | (674,687,678) | (674,687,678) | (984,750,640) | |||
Depreciation and amortization | 29,830,489 | 27,813,841 | 85,931,942 | 84,242,207 | ||
Depreciation of rights of use | 103,993 | 93,167 | 290,036 | 279,511 | ||
Net periodic cost of employee benefits excluding items recognized in other comprehensive income | 8,789,223 | 8,952,587 | 26,604,199 | 25,455,692 | ||
Interest income | 78,356 | 30,571 | 148,175 | 37,456 | ||
Interest cost | (329,756) | 1,890,797 | (184,992) | 2,041,861 | ||
Industrial Transformation | ||||||
Sales: | ||||||
Trade | 323,137,584 | 174,362,921 | 941,863,769 | 492,800,331 | ||
Intersegments | 85,593,492 | 47,962,508 | 230,974,203 | 124,338,007 | ||
Services income | 305,550 | 261,268 | 848,424 | 435,837 | ||
Reversal of impairment of wells, pipelines, properties, plant and equipment, net | 2,265,458 | (3,611,756) | 43,088,866 | 278,616 | ||
Cost of sales | 438,307,485 | 236,598,432 | 1,205,542,223 | 668,263,462 | ||
Gross income (loss) | (27,005,401) | (17,623,491) | 11,233,039 | (50,410,671) | ||
Distribution, transportation and sales expenses | 5,319,451 | 3,087,902 | 13,309,417 | 10,852,331 | ||
Administrative expenses | 15,035,732 | 14,071,271 | 43,410,761 | 38,721,624 | ||
Other revenue | 4,430,490 | 4,537,413 | 7,494,057 | 7,197,518 | ||
Other expenses | (736,875) | (79,553) | (1,112,019) | (189,345) | ||
Operating income (loss) | (43,666,969) | (30,324,804) | (39,105,101) | (92,976,453) | ||
Financing income | 136,037 | 94,579 | 300,607 | 299,598 | ||
Financing cost | (8,571,868) | (4,978,753) | (24,028,986) | (12,551,866) | ||
Derivative financial instruments (cost) income, net | (22,683) | (9,289) | (33,074) | (15,231) | ||
Foreign exchange income (loss), net | (5,888,483) | (4,559,118) | 2,394,005 | (4,690,382) | ||
Profit (loss) sharing in joint ventures and associates | (1,641,520) | (1,190,495) | (1,299,877) | (1,210,016) | ||
Net income (loss) | (59,655,486) | (40,967,880) | (61,772,426) | (111,144,350) | ||
Total current assets | 333,090,742 | 333,090,742 | 252,372,772 | |||
Total non-current assets | 516,002,857 | 516,002,857 | 418,907,482 | |||
Total current liabilities | 1,006,317,668 | 1,006,317,668 | 776,564,748 | |||
Total non-current liabilities | 558,160,514 | 558,160,514 | 657,020,316 | |||
Equity (deficit), net | (715,384,583) | (715,384,583) | (762,304,810) | |||
Depreciation and amortization | 3,627,478 | 3,620,080 | 10,397,976 | 11,132,633 | ||
Depreciation of rights of use | 1,034,892 | 934,486 | 2,896,919 | 2,964,439 | ||
Net periodic cost of employee benefits excluding items recognized in other comprehensive income | 12,844,503 | 12,786,223 | 38,797,227 | 36,775,271 | ||
Interest income | 105,812 | 94,532 | 269,902 | 299,456 | ||
Interest cost | 1,034,912 | 1,126,091 | 3,096,988 | 3,431,925 | ||
Logistics | ||||||
Sales: | ||||||
Intersegments | 18,631,371 | 19,947,189 | 59,791,260 | 60,838,892 | ||
Services income | 424,185 | 726,852 | 1,179,703 | 2,134,218 | ||
Reversal of impairment of wells, pipelines, properties, plant and equipment, net | 68,117 | 218,314 | 1,542,908 | 328,174 | ||
Cost of sales | 21,856,967 | 11,831,740 | 51,454,089 | 33,892,357 | ||
Gross income (loss) | (2,733,294) | 9,060,615 | 11,059,782 | 29,408,927 | ||
Distribution, transportation and sales expenses | 41,344 | (8,698) | 100,624 | 89,785 | ||
Administrative expenses | 4,487,058 | 4,393,807 | 13,287,149 | 12,262,178 | ||
Other revenue | 38,825 | 17,869 | 216,172 | 87,125 | ||
Other expenses | 210,864 | (243,343) | 240,925 | (73,769) | ||
Operating income (loss) | (7,012,007) | 4,450,032 | (1,870,894) | 17,070,320 | ||
Financing income | 3,459,429 | 1,520,485 | 8,538,934 | 4,441,923 | ||
Financing cost | (49,899) | (53,066) | (346,656) | (252,639) | ||
Foreign exchange income (loss), net | 7,980 | (29,817) | 16,220 | 32,015 | ||
Profit (loss) sharing in joint ventures and associates | (400) | (16) | (394) | (18) | ||
Taxes, duties and other | (3,213,820) | (2,825,150) | (5,792,579) | (2,187,700) | ||
Net income (loss) | (381,077) | 8,712,768 | 12,129,789 | 23,479,301 | ||
Total current assets | 238,146,928 | 238,146,928 | 219,321,008 | |||
Total non-current assets | 153,548,098 | 153,548,098 | 154,076,115 | |||
Total current liabilities | 69,294,498 | 69,294,498 | 62,569,320 | |||
Total non-current liabilities | 61,986,862 | 61,986,862 | 77,857,852 | |||
Equity (deficit), net | 260,413,666 | 260,413,666 | 232,969,951 | |||
Depreciation and amortization | 1,440,377 | 292,073 | 4,412,095 | 3,072,705 | ||
Depreciation of rights of use | 107,069 | 50,259 | 425,898 | 208,768 | ||
Net periodic cost of employee benefits excluding items recognized in other comprehensive income | 1,927,785 | 2,374,865 | 5,936,814 | 6,229,702 | ||
Interest income | 3,045 | 6,355 | 3,045 | 64,158 | ||
Interest cost | 47,314 | 44,259 | 347,492 | 218,775 | ||
DPRLP | ||||||
Sales: | ||||||
Trade | 62,490,302 | 189,158,354 | ||||
Intersegments | 12,554,103 | 20,967,761 | ||||
Services income | (553) | 836,822 | ||||
Cost of sales | 72,407,279 | 192,477,889 | ||||
Gross income (loss) | 2,636,573 | 18,485,048 | ||||
Administrative expenses | 265,105 | 774,043 | ||||
Other revenue | (2,069) | 3,131,025 | ||||
Other expenses | (7,122) | (7,122) | ||||
Operating income (loss) | 2,362,277 | 20,834,908 | ||||
Financing cost | (40,321) | (254,796) | ||||
Net income (loss) | 2,321,956 | 20,580,112 | ||||
Total current assets | 46,632,681 | 46,632,681 | ||||
Total non-current assets | 33,686,456 | 33,686,456 | ||||
Total current liabilities | 21,968,625 | 21,968,625 | ||||
Total non-current liabilities | 5,447,924 | 5,447,924 | ||||
Equity (deficit), net | 52,902,588 | 52,902,588 | ||||
Depreciation and amortization | 1,155,189 | 3,302,226 | ||||
Depreciation of rights of use | ||||||
Interest cost | 40,321 | 254,796 | ||||
Trading Companies | ||||||
Sales: | ||||||
Trade | 84,962,122 | 76,055,408 | 254,743,701 | 208,636,965 | ||
Intersegments | 249,416,808 | 100,402,887 | 628,698,634 | 276,533,100 | ||
Services income | 535,727 | 393,952 | 1,604,767 | 825,655 | ||
Reversal of impairment of wells, pipelines, properties, plant and equipment, net | 282,437 | |||||
Cost of sales | 335,682,357 | 174,170,506 | 877,139,880 | 472,133,743 | ||
Gross income (loss) | (767,700) | 2,681,741 | 8,189,659 | 13,861,977 | ||
Distribution, transportation and sales expenses | (50,969) | 288,789 | 507,615 | 1,031,673 | ||
Administrative expenses | 513,610 | 482,675 | 1,923,951 | 1,262,657 | ||
Other revenue | 192,112 | 59,500 | 10,772,579 | 215,827 | ||
Other expenses | (481,484) | (2,356) | (1,022,419) | (7,094) | ||
Operating income (loss) | (1,519,713) | 1,967,421 | 15,508,253 | 11,776,380 | ||
Financing income | 105,042 | 96,380 | 327,624 | 264,022 | ||
Financing cost | (868,418) | (579,116) | (2,265,952) | (1,530,044) | ||
Derivative financial instruments (cost) income, net | 1,911,506 | (384,398) | (1,018,615) | (1,538,761) | ||
Foreign exchange income (loss), net | (42,803) | 26,655 | (189,439) | (95,891) | ||
Profit (loss) sharing in joint ventures and associates | 2,961,762 | 112,534 | 21,846,815 | (1,044,164) | ||
Taxes, duties and other | 133,141 | 354,020 | (589,418) | 972,689 | ||
Net income (loss) | 2,414,235 | 885,456 | 34,798,104 | 6,858,853 | ||
Total current assets | 256,603,139 | 256,603,139 | 244,042,561 | |||
Total non-current assets | 110,384,905 | 110,384,905 | 40,872,714 | |||
Total current liabilities | 212,051,565 | 212,051,565 | 189,834,560 | |||
Total non-current liabilities | 600,636 | 600,636 | 792,646 | |||
Equity (deficit), net | 154,335,843 | 154,335,843 | 94,288,069 | |||
Depreciation and amortization | 84,023 | 63,715 | 268,279 | 187,832 | ||
Depreciation of rights of use | 174,237 | 217,770 | 532,282 | 699,943 | ||
Net periodic cost of employee benefits excluding items recognized in other comprehensive income | (49) | (12,222) | 826 | (12,222) | ||
Interest income | 9,067 | 32,210 | 36,682 | 68,808 | ||
Interest cost | 765,315 | 502,953 | 1,991,497 | 1,394,738 | ||
Corporate | ||||||
Sales: | ||||||
Intersegments | 19,612,971 | 20,530,675 | 57,619,388 | 53,174,078 | ||
Services income | 169 | 292 | 697 | 1,349 | ||
Cost of sales | 364,163 | 198,096 | 921,266 | 723,129 | ||
Gross income (loss) | 19,248,977 | 20,332,871 | 56,698,819 | 52,452,298 | ||
Distribution, transportation and sales expenses | 8,355 | (20,832) | 5,168 | (71,942) | ||
Administrative expenses | 19,239,101 | 18,896,215 | 54,859,564 | 54,072,188 | ||
Other revenue | (67,519) | 40,223 | 162,623 | 212,706 | ||
Other expenses | (400,424) | 0 | (770,526) | (118) | ||
Operating income (loss) | (466,422) | 1,497,711 | 1,226,184 | (1,335,360) | ||
Financing income | 42,674,744 | 37,171,060 | 120,492,894 | 107,938,207 | ||
Financing cost | (54,024,841) | (50,806,423) | (151,715,277) | (148,369,285) | ||
Derivative financial instruments (cost) income, net | 2,029,960 | 2,013,462 | 1,082,680 | (761,907) | ||
Foreign exchange income (loss), net | 1,047,499 | (2,396,832) | (1,024,685) | (1,742,778) | ||
Profit (loss) sharing in joint ventures and associates | (43,834,562) | (65,103,235) | 224,155,079 | (57,316,973) | ||
Taxes, duties and other | (570,212) | (415,435) | (1,697,196) | (1,493,925) | ||
Net income (loss) | (52,003,410) | (77,208,822) | 195,914,071 | (100,094,171) | ||
Total current assets | 1,497,590,082 | 1,497,590,082 | 1,970,621,447 | |||
Total non-current assets | 712,000,084 | 712,000,084 | 448,667,110 | |||
Total current liabilities | 1,871,558,359 | 1,871,558,359 | 2,538,932,078 | |||
Total non-current liabilities | 1,936,476,437 | 1,936,476,437 | 2,050,485,763 | |||
Equity (deficit), net | (1,598,444,630) | (1,598,444,630) | (2,170,129,284) | |||
Depreciation and amortization | 141,225 | 228,882 | 424,020 | 700,827 | ||
Depreciation of rights of use | 97,910 | 165,011 | 131,396 | 501,365 | ||
Net periodic cost of employee benefits excluding items recognized in other comprehensive income | 7,805,284 | 7,961,568 | 23,607,928 | 22,703,735 | ||
Interest income | 3,598,347 | 2,711,171 | 8,051,569 | 5,520,421 | ||
Interest cost | 33,416,507 | 33,150,042 | 95,619,876 | 98,413,098 | ||
Other operating Subsidiary Companies | ||||||
Sales: | ||||||
Trade | 4,775,659 | 3,979,220 | 15,131,707 | 9,178,781 | ||
Intersegments | 22,467,676 | 7,294,941 | 54,839,232 | 17,907,404 | ||
Services income | 4,431 | 1,245 | 10,820 | 7,515 | ||
Cost of sales | 26,077,388 | 10,845,360 | 66,836,749 | 26,387,766 | ||
Gross income (loss) | 1,170,378 | 430,046 | 3,145,010 | 705,934 | ||
Distribution, transportation and sales expenses | 31,251 | 1,970 | 69,917 | 109,502 | ||
Administrative expenses | 1,359,515 | 1,226,496 | 4,751,933 | 3,186,072 | ||
Other revenue | 2,832,136 | (938,403) | 6,236,169 | 108,660 | ||
Other expenses | (77,069) | (134,257) | (78,010) | (148,359) | ||
Operating income (loss) | 2,534,679 | (1,871,080) | 4,481,319 | (2,629,339) | ||
Financing income | 139,504 | 59,057 | 272,711 | 190,836 | ||
Financing cost | (429,794) | (283,330) | (972,025) | (711,937) | ||
Derivative financial instruments (cost) income, net | 0 | |||||
Foreign exchange income (loss), net | (165,542) | (778,344) | 518,790 | (508,997) | ||
Profit (loss) sharing in joint ventures and associates | 3,409,091 | (1,263,208) | 44,229,790 | (3,509,592) | ||
Taxes, duties and other | 85,013 | 12,747 | 173,384 | 70,814 | ||
Net income (loss) | 5,402,925 | (4,149,652) | 48,357,201 | (7,239,843) | ||
Total current assets | 94,407,548 | 94,407,548 | 71,425,918 | |||
Total non-current assets | 398,990,647 | 398,990,647 | 220,334,640 | |||
Total current liabilities | 61,199,120 | 61,199,120 | 34,183,072 | |||
Total non-current liabilities | 42,540,693 | 42,540,693 | 27,632,466 | |||
Equity (deficit), net | 389,658,382 | 389,658,382 | $ 229,945,020 | |||
Depreciation and amortization | 539,617 | 403,563 | 1,495,852 | 1,283,817 | ||
Depreciation of rights of use | 20,846 | 29,925 | 57,638 | 90,755 | ||
Net periodic cost of employee benefits excluding items recognized in other comprehensive income | 10,505 | 9,195 | 31,516 | 27,586 | ||
Interest income | 70,241 | 20,721 | 87,590 | 77,089 | ||
Interest cost | $ 369,124 | $ 187,604 | $ 845,930 | $ 543,974 |
Revenue - Schedule of Revenue D
Revenue - Schedule of Revenue Disaggregation (Detail) - MXN ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2022 | Sep. 30, 2021 | Sep. 30, 2022 | Sep. 30, 2021 | |
Disclosure of disaggregation of revenue from contracts with customers [line items] | ||||
Revenue from contracts with customers | $ 630,815,089 | $ 384,709,707 | $ 1,867,913,141 | $ 1,049,698,579 |
Incentive for automotive fuels | 28,665,402 | 0 | 103,720,586 | 0 |
Products transferred at a point in time | ||||
Disclosure of disaggregation of revenue from contracts with customers [line items] | ||||
Revenue from contracts with customers | 612,591,402 | 373,459,143 | 1,819,245,409 | 1,007,775,720 |
Products and services transferred over the time | ||||
Disclosure of disaggregation of revenue from contracts with customers [line items] | ||||
Revenue from contracts with customers | 18,223,687 | 11,250,564 | 48,667,732 | 41,922,859 |
Crude oil | ||||
Disclosure of disaggregation of revenue from contracts with customers [line items] | ||||
Revenue from contracts with customers | 154,970,402 | 132,281,457 | 463,131,305 | 338,933,229 |
Gas | ||||
Disclosure of disaggregation of revenue from contracts with customers [line items] | ||||
Revenue from contracts with customers | 61,332,876 | 45,154,140 | 180,429,579 | 133,334,088 |
Refined petroleum products | ||||
Disclosure of disaggregation of revenue from contracts with customers [line items] | ||||
Revenue from contracts with customers | 305,231,703 | 185,808,108 | 951,074,283 | 539,701,742 |
Other | ||||
Disclosure of disaggregation of revenue from contracts with customers [line items] | ||||
Revenue from contracts with customers | 79,321,444 | 20,051,772 | 164,996,410 | 34,251,563 |
Services | ||||
Disclosure of disaggregation of revenue from contracts with customers [line items] | ||||
Revenue from contracts with customers | 1,293,262 | 1,414,230 | 4,560,978 | 3,477,957 |
Petroleum Products | ||||
Disclosure of disaggregation of revenue from contracts with customers [line items] | ||||
Incentive for automotive fuels | 28,665,402 | 103,720,586 | ||
United States | ||||
Disclosure of disaggregation of revenue from contracts with customers [line items] | ||||
Revenue from contracts with customers | 217,473,641 | 137,728,568 | 677,579,833 | 357,134,132 |
Other | ||||
Disclosure of disaggregation of revenue from contracts with customers [line items] | ||||
Revenue from contracts with customers | 46,527,704 | 38,702,703 | 121,789,461 | 106,071,996 |
Europe | ||||
Disclosure of disaggregation of revenue from contracts with customers [line items] | ||||
Revenue from contracts with customers | 16,077,940 | 17,340,818 | 52,279,750 | 49,163,943 |
Local | ||||
Disclosure of disaggregation of revenue from contracts with customers [line items] | ||||
Revenue from contracts with customers | 322,070,402 | 190,937,618 | 912,543,511 | 537,328,508 |
Exploration and Production | ||||
Disclosure of disaggregation of revenue from contracts with customers [line items] | ||||
Revenue from contracts with customers | 154,179,913 | 128,928,549 | 462,534,377 | 335,677,928 |
Exploration and Production | Products transferred at a point in time | ||||
Disclosure of disaggregation of revenue from contracts with customers [line items] | ||||
Revenue from contracts with customers | 154,156,160 | 128,897,928 | 462,454,632 | 335,604,545 |
Exploration and Production | Products and services transferred over the time | ||||
Disclosure of disaggregation of revenue from contracts with customers [line items] | ||||
Revenue from contracts with customers | 23,753 | 30,621 | 79,745 | 73,383 |
Exploration and Production | Crude oil | ||||
Disclosure of disaggregation of revenue from contracts with customers [line items] | ||||
Revenue from contracts with customers | 154,114,802 | 128,839,179 | 462,275,705 | 335,467,813 |
Exploration and Production | Gas | ||||
Disclosure of disaggregation of revenue from contracts with customers [line items] | ||||
Revenue from contracts with customers | 41,358 | 58,749 | 178,927 | 136,732 |
Exploration and Production | Services | ||||
Disclosure of disaggregation of revenue from contracts with customers [line items] | ||||
Revenue from contracts with customers | 23,753 | 30,621 | 79,745 | 73,383 |
Exploration and Production | United States | ||||
Disclosure of disaggregation of revenue from contracts with customers [line items] | ||||
Revenue from contracts with customers | 93,636,395 | 73,764,760 | 299,855,589 | 190,703,167 |
Exploration and Production | Other | ||||
Disclosure of disaggregation of revenue from contracts with customers [line items] | ||||
Revenue from contracts with customers | 42,547,831 | 37,747,348 | 110,614,077 | 97,011,172 |
Exploration and Production | Europe | ||||
Disclosure of disaggregation of revenue from contracts with customers [line items] | ||||
Revenue from contracts with customers | 17,930,576 | 17,327,071 | 51,806,039 | 47,753,474 |
Exploration and Production | Local | ||||
Disclosure of disaggregation of revenue from contracts with customers [line items] | ||||
Revenue from contracts with customers | 65,111 | 89,370 | 258,672 | 210,115 |
Industrial Transformation | ||||
Disclosure of disaggregation of revenue from contracts with customers [line items] | ||||
Revenue from contracts with customers | 323,443,134 | 174,624,189 | 942,712,193 | 493,236,168 |
Industrial Transformation | Products transferred at a point in time | ||||
Disclosure of disaggregation of revenue from contracts with customers [line items] | ||||
Revenue from contracts with customers | 305,782,974 | 163,799,735 | 896,577,312 | 452,221,209 |
Industrial Transformation | Products and services transferred over the time | ||||
Disclosure of disaggregation of revenue from contracts with customers [line items] | ||||
Revenue from contracts with customers | 17,660,160 | 10,824,454 | 46,134,881 | 41,014,959 |
Industrial Transformation | Gas | ||||
Disclosure of disaggregation of revenue from contracts with customers [line items] | ||||
Revenue from contracts with customers | 33,893,671 | 26,658,180 | 98,482,899 | 80,937,016 |
Industrial Transformation | Refined petroleum products | ||||
Disclosure of disaggregation of revenue from contracts with customers [line items] | ||||
Revenue from contracts with customers | 256,507,009 | 143,534,048 | 723,842,052 | 400,547,323 |
Industrial Transformation | Other | ||||
Disclosure of disaggregation of revenue from contracts with customers [line items] | ||||
Revenue from contracts with customers | 4,071,502 | 4,170,693 | 15,818,232 | 11,315,992 |
Industrial Transformation | Services | ||||
Disclosure of disaggregation of revenue from contracts with customers [line items] | ||||
Revenue from contracts with customers | 305,550 | 261,268 | 848,424 | 435,837 |
Industrial Transformation | Petroleum Products | ||||
Disclosure of disaggregation of revenue from contracts with customers [line items] | ||||
Incentive for automotive fuels | 28,665,402 | 103,720,586 | ||
Industrial Transformation | Local | ||||
Disclosure of disaggregation of revenue from contracts with customers [line items] | ||||
Revenue from contracts with customers | 294,777,732 | 174,624,189 | 838,991,607 | 493,236,168 |
Incentive for automotive fuels | 28,665,402 | 103,720,586 | ||
Logistics | ||||
Disclosure of disaggregation of revenue from contracts with customers [line items] | ||||
Revenue from contracts with customers | 424,185 | 726,852 | 1,179,703 | 2,134,218 |
Logistics | Products transferred at a point in time | ||||
Disclosure of disaggregation of revenue from contracts with customers [line items] | ||||
Revenue from contracts with customers | 424,185 | 726,852 | 1,179,703 | 2,134,218 |
Logistics | Services | ||||
Disclosure of disaggregation of revenue from contracts with customers [line items] | ||||
Revenue from contracts with customers | 424,185 | 726,852 | 1,179,703 | 2,134,218 |
Logistics | Local | ||||
Disclosure of disaggregation of revenue from contracts with customers [line items] | ||||
Revenue from contracts with customers | 424,185 | 726,852 | 1,179,703 | 2,134,218 |
DPRLP | ||||
Disclosure of disaggregation of revenue from contracts with customers [line items] | ||||
Revenue from contracts with customers | 62,489,749 | 189,995,176 | ||
DPRLP | Products transferred at a point in time | ||||
Disclosure of disaggregation of revenue from contracts with customers [line items] | ||||
Revenue from contracts with customers | 62,490,302 | 189,158,354 | ||
DPRLP | Products and services transferred over the time | ||||
Disclosure of disaggregation of revenue from contracts with customers [line items] | ||||
Revenue from contracts with customers | (553) | 836,822 | ||
DPRLP | Gas | ||||
Disclosure of disaggregation of revenue from contracts with customers [line items] | ||||
Revenue from contracts with customers | (4,592,291) | |||
DPRLP | Refined petroleum products | ||||
Disclosure of disaggregation of revenue from contracts with customers [line items] | ||||
Revenue from contracts with customers | 3,654,126 | 64,698,229 | ||
DPRLP | Other | ||||
Disclosure of disaggregation of revenue from contracts with customers [line items] | ||||
Revenue from contracts with customers | 63,428,467 | 124,460,125 | ||
DPRLP | Services | ||||
Disclosure of disaggregation of revenue from contracts with customers [line items] | ||||
Revenue from contracts with customers | (553) | 836,822 | ||
DPRLP | United States | ||||
Disclosure of disaggregation of revenue from contracts with customers [line items] | ||||
Revenue from contracts with customers | 62,489,749 | 189,995,176 | ||
Trading Companies | ||||
Disclosure of disaggregation of revenue from contracts with customers [line items] | ||||
Revenue from contracts with customers | 85,497,849 | 76,449,360 | 256,348,468 | 209,462,620 |
Trading Companies | Products transferred at a point in time | ||||
Disclosure of disaggregation of revenue from contracts with customers [line items] | ||||
Revenue from contracts with customers | 84,962,122 | 76,055,408 | 254,743,701 | 208,636,965 |
Trading Companies | Products and services transferred over the time | ||||
Disclosure of disaggregation of revenue from contracts with customers [line items] | ||||
Revenue from contracts with customers | 535,727 | 393,952 | 1,604,767 | 825,655 |
Trading Companies | Crude oil | ||||
Disclosure of disaggregation of revenue from contracts with customers [line items] | ||||
Revenue from contracts with customers | 855,600 | 3,442,278 | 855,600 | 3,465,416 |
Trading Companies | Gas | ||||
Disclosure of disaggregation of revenue from contracts with customers [line items] | ||||
Revenue from contracts with customers | 31,990,138 | 18,437,211 | 81,767,753 | 52,260,340 |
Trading Companies | Refined petroleum products | ||||
Disclosure of disaggregation of revenue from contracts with customers [line items] | ||||
Revenue from contracts with customers | 45,070,568 | 42,274,060 | 162,534,002 | 139,154,419 |
Trading Companies | Other | ||||
Disclosure of disaggregation of revenue from contracts with customers [line items] | ||||
Revenue from contracts with customers | 7,045,816 | 11,901,859 | 9,586,346 | 13,756,790 |
Trading Companies | Services | ||||
Disclosure of disaggregation of revenue from contracts with customers [line items] | ||||
Revenue from contracts with customers | 535,727 | 393,952 | 1,604,767 | 825,655 |
Trading Companies | United States | ||||
Disclosure of disaggregation of revenue from contracts with customers [line items] | ||||
Revenue from contracts with customers | 60,755,674 | 62,211,796 | 186,156,710 | 163,210,462 |
Trading Companies | Other | ||||
Disclosure of disaggregation of revenue from contracts with customers [line items] | ||||
Revenue from contracts with customers | 3,537,791 | 855,572 | 7,685,362 | 8,634,286 |
Trading Companies | Europe | ||||
Disclosure of disaggregation of revenue from contracts with customers [line items] | ||||
Revenue from contracts with customers | (1,852,636) | 13,747 | 473,711 | 1,410,469 |
Trading Companies | Local | ||||
Disclosure of disaggregation of revenue from contracts with customers [line items] | ||||
Revenue from contracts with customers | 23,057,020 | 13,368,245 | 62,032,685 | 36,207,403 |
Corporate | ||||
Disclosure of disaggregation of revenue from contracts with customers [line items] | ||||
Revenue from contracts with customers | 169 | 292 | 697 | 1,349 |
Corporate | Products and services transferred over the time | ||||
Disclosure of disaggregation of revenue from contracts with customers [line items] | ||||
Revenue from contracts with customers | 169 | 292 | 697 | 1,349 |
Corporate | Services | ||||
Disclosure of disaggregation of revenue from contracts with customers [line items] | ||||
Revenue from contracts with customers | 169 | 292 | 697 | 1,349 |
Corporate | Local | ||||
Disclosure of disaggregation of revenue from contracts with customers [line items] | ||||
Revenue from contracts with customers | 169 | 292 | 697 | 1,349 |
Other operating Subsidiary Companies | ||||
Disclosure of disaggregation of revenue from contracts with customers [line items] | ||||
Revenue from contracts with customers | 4,780,090 | 3,980,465 | 15,142,527 | 9,186,296 |
Other operating Subsidiary Companies | Products transferred at a point in time | ||||
Disclosure of disaggregation of revenue from contracts with customers [line items] | ||||
Revenue from contracts with customers | 4,775,659 | 3,979,220 | 15,131,707 | 9,178,783 |
Other operating Subsidiary Companies | Products and services transferred over the time | ||||
Disclosure of disaggregation of revenue from contracts with customers [line items] | ||||
Revenue from contracts with customers | 4,431 | 1,245 | 10,820 | 7,513 |
Other operating Subsidiary Companies | Other | ||||
Disclosure of disaggregation of revenue from contracts with customers [line items] | ||||
Revenue from contracts with customers | 4,775,659 | 3,979,220 | 15,131,707 | 9,178,781 |
Other operating Subsidiary Companies | Services | ||||
Disclosure of disaggregation of revenue from contracts with customers [line items] | ||||
Revenue from contracts with customers | 4,431 | 1,245 | 10,820 | 7,515 |
Other operating Subsidiary Companies | United States | ||||
Disclosure of disaggregation of revenue from contracts with customers [line items] | ||||
Revenue from contracts with customers | 591,823 | 1,752,012 | 1,572,358 | 3,220,503 |
Other operating Subsidiary Companies | Other | ||||
Disclosure of disaggregation of revenue from contracts with customers [line items] | ||||
Revenue from contracts with customers | 442,082 | 99,783 | 3,490,022 | 426,538 |
Other operating Subsidiary Companies | Local | ||||
Disclosure of disaggregation of revenue from contracts with customers [line items] | ||||
Revenue from contracts with customers | $ 3,746,185 | $ 2,128,670 | $ 10,080,147 | $ 5,539,255 |
Revenue - Additional Informatio
Revenue - Additional Information (Detail) - MXN ($) $ in Thousands | 3 Months Ended | 9 Months Ended | |||
Sep. 30, 2022 | Sep. 30, 2021 | Sep. 30, 2022 | Sep. 30, 2021 | Dec. 31, 2021 | |
Disclosure of disaggregation of revenue from contracts with customers [line items] | |||||
Crude oil payment terms (in days) | 30 days | 30 days | |||
Sales price determination period (up to) | 2 months | 2 months | |||
Accounts receivable derived from customer contracts | $ 130,514,339 | $ 130,514,339 | $ 101,259,081 | ||
Incentive for automotive fuels | $ 28,665,402 | $ 0 | $ 103,720,586 | $ 0 | |
Services | |||||
Disclosure of disaggregation of revenue from contracts with customers [line items] | |||||
Invoice payment terms (in days) | 22 days | 22 days | |||
Other | |||||
Disclosure of disaggregation of revenue from contracts with customers [line items] | |||||
Invoice payment terms (in days) | 30 days | 30 days |
Financial Instruments - Summary
Financial Instruments - Summary of Carrying Amounts and Fair Value of Financial Assets and Liabilities (Detail) $ in Thousands, $ in Thousands | Sep. 30, 2022 MXN ($) | May 31, 2022 USD ($) | Dec. 31, 2021 MXN ($) | Sep. 30, 2021 MXN ($) | Dec. 31, 2020 MXN ($) |
Disclosure of detailed information about financial instruments [line items] | |||||
Financial assets measured at fair value | |||||
Cash and cash equivalents | 62,271,071 | $ 76,506,447 | $ 39,640,701 | $ 39,989,781 | |
Customers | 130,514,339 | 101,259,081 | |||
Sundry debtors | 30,129,263 | 37,034,460 | |||
Investments in joint ventures and associates | 2,107,628 | 2,254,952 | |||
Mexican Government Bonds | 106,303,973 | 109,124,514 | |||
Other assets | 34,472,982 | 40,787,153 | |||
Suppliers | (262,654,610) | (264,056,358) | |||
Accounts, accrued expenses payable and advance payments from customers (ii) | (70,462,522) | (32,015,808) | |||
Debt | (1,708,838,766) | $ (1,984,689) | (2,211,701,630) | ||
Derivative financial instruments | |||||
Disclosure of detailed information about financial instruments [line items] | |||||
Financial assets measured at fair value | 10,499,136 | 12,473,967 | |||
Equity instruments(i) | |||||
Disclosure of detailed information about financial instruments [line items] | |||||
Financial assets measured at fair value | 533,658 | 448,949 | |||
Derivative financial instruments | |||||
Disclosure of detailed information about financial instruments [line items] | |||||
Financial liabilities measured at fair value | (39,711,214) | (13,636,086) | |||
Carrying amount | |||||
Disclosure of detailed information about financial instruments [line items] | |||||
Financial assets measured at fair value | 11,032,794 | 12,922,916 | |||
Cash and cash equivalents | 62,271,071 | 76,506,447 | |||
Customers | 130,514,339 | 101,259,081 | |||
Officials and employees | 4,343,719 | 3,752,692 | |||
Sundry debtors | 30,129,263 | 37,034,460 | |||
Investments in joint ventures and associates | 2,107,628 | 2,254,952 | |||
Notes receivable | 1,414,291 | 1,646,290 | |||
Mexican Government Bonds | 111,722,004 | 110,855,356 | |||
Other assets | 7,210,679 | 4,537,481 | |||
Financial assets not measured at fair value | 349,712,994 | 337,846,759 | |||
Financial liabilities measured at fair value | (39,711,214) | (13,636,086) | |||
Suppliers | (262,654,610) | (264,056,358) | |||
Accounts, accrued expenses payable and advance payments from customers (ii) | (70,462,522) | (32,015,808) | |||
Leases | (55,011,280) | (59,351,648) | |||
Debt | (2,132,813,387) | (2,249,695,894) | |||
Total | (2,520,941,799) | (2,605,119,708) | |||
Carrying amount | FVTPL | |||||
Disclosure of detailed information about financial instruments [line items] | |||||
Financial assets measured at fair value | 10,499,136 | 12,473,967 | |||
Financial liabilities measured at fair value | (39,711,214) | (13,636,086) | |||
Carrying amount | FVOCI – equity instruments | |||||
Disclosure of detailed information about financial instruments [line items] | |||||
Financial assets measured at fair value | 533,658 | 448,949 | |||
Carrying amount | Financial assets at amortized cost | |||||
Disclosure of detailed information about financial instruments [line items] | |||||
Cash and cash equivalents | 62,271,071 | 76,506,447 | |||
Customers | 130,514,339 | 101,259,081 | |||
Officials and employees | 4,343,719 | 3,752,692 | |||
Sundry debtors | 30,129,263 | 37,034,460 | |||
Investments in joint ventures and associates | 2,107,628 | 2,254,952 | |||
Notes receivable | 1,414,291 | 1,646,290 | |||
Mexican Government Bonds | 111,722,004 | 110,855,356 | |||
Other assets | 7,210,679 | 4,537,481 | |||
Financial assets not measured at fair value | 349,712,994 | 337,846,759 | |||
Carrying amount | Derivative financial instruments | |||||
Disclosure of detailed information about financial instruments [line items] | |||||
Financial assets measured at fair value | 10,499,136 | 12,473,967 | |||
Carrying amount | Derivative financial instruments | FVTPL | |||||
Disclosure of detailed information about financial instruments [line items] | |||||
Financial assets measured at fair value | 10,499,136 | 12,473,967 | |||
Carrying amount | Equity instruments(i) | |||||
Disclosure of detailed information about financial instruments [line items] | |||||
Financial assets measured at fair value | 533,658 | 448,949 | |||
Carrying amount | Equity instruments(i) | FVOCI – equity instruments | |||||
Disclosure of detailed information about financial instruments [line items] | |||||
Financial assets measured at fair value | 533,658 | 448,949 | |||
Carrying amount | Other financial liabilities | |||||
Disclosure of detailed information about financial instruments [line items] | |||||
Suppliers | (262,654,610) | (264,056,358) | |||
Accounts, accrued expenses payable and advance payments from customers (ii) | (70,462,522) | (32,015,808) | |||
Leases | (55,011,280) | (59,351,648) | |||
Debt | (2,132,813,387) | (2,249,695,894) | |||
Total | (2,520,941,799) | (2,605,119,708) | |||
Carrying amount | Derivative financial instruments | |||||
Disclosure of detailed information about financial instruments [line items] | |||||
Financial liabilities measured at fair value | (39,711,214) | (13,636,086) | |||
Carrying amount | Derivative financial instruments | FVTPL | |||||
Disclosure of detailed information about financial instruments [line items] | |||||
Financial liabilities measured at fair value | (39,711,214) | (13,636,086) | |||
Level 1 | |||||
Disclosure of detailed information about financial instruments [line items] | |||||
Mexican Government Bonds | 106,303,973 | 109,124,514 | |||
Level 2 | |||||
Disclosure of detailed information about financial instruments [line items] | |||||
Financial assets measured at fair value | |||||
Debt | (1,708,838,766) | (2,211,701,630) | |||
Level 2 | Derivative financial instruments | |||||
Disclosure of detailed information about financial instruments [line items] | |||||
Financial assets measured at fair value | 10,499,136 | 12,473,967 | |||
Level 2 | Equity instruments(i) | |||||
Disclosure of detailed information about financial instruments [line items] | |||||
Financial assets measured at fair value | 533,658 | 448,949 | |||
Level 2 | Derivative financial instruments | |||||
Disclosure of detailed information about financial instruments [line items] | |||||
Financial liabilities measured at fair value | $ (39,711,214) | $ (13,636,086) |
Financial Instruments - Additio
Financial Instruments - Additional Information (Detail) $ in Thousands, $ in Thousands | 3 Months Ended | 9 Months Ended | ||||
Sep. 30, 2022 MXN ($) | Sep. 30, 2021 MXN ($) | Sep. 30, 2022 MXN ($) | Sep. 30, 2021 MXN ($) | Sep. 30, 2022 USD ($) | Dec. 31, 2021 MXN ($) | |
Disclosure of detailed information about financial instruments [line items] | ||||||
Derivative financial instruments | $ (29,212,078) | $ (29,212,078) | $ (1,162,119) | |||
Derivative financial instruments (cost) income, net | 12,982,694 | $ 9,274,432 | 37,491,847 | $ 21,632,280 | ||
Advance payments received for the Future sale of turbosine | ||||||
Disclosure of detailed information about financial instruments [line items] | ||||||
Advances received | $ 17,590,055 | $ 17,590,055 | $ 306,570 |
Financial Instruments - Summa_2
Financial Instruments - Summary Of Portfolio of Financial Instruments Composed of Debt Instruments and DFI (Detail) $ in Thousands | Sep. 30, 2022 MXN ($) |
LIBOR 1M USD | |
Notional Amount | |
Debt Notional Amount | $ 681,933 |
DFI Notional Amount | 2,500,000 |
LIBOR 3M USD | |
Notional Amount | |
Debt Notional Amount | 385,380 |
DFI Notional Amount | 156,250 |
LIBOR 6M USD | |
Notional Amount | |
Debt Notional Amount | 710,673 |
DFI Notional Amount | 243,750 |
EURIBOR 3M EUR | |
Notional Amount | |
Debt Notional Amount | 650,000 |
TIIE 28D MXN | |
Notional Amount | |
Debt Notional Amount | 24,909,830 |
DFI Notional Amount | 31,733,673 |
TIIE 91D MXN | |
Notional Amount | |
Debt Notional Amount | $ 21,171,037 |
Cash and Cash Equivalents - Sum
Cash and Cash Equivalents - Summary of Cash and Cash Equivalents (Detail) - MXN ($) $ in Thousands | Sep. 30, 2022 | Dec. 31, 2021 | Sep. 30, 2021 | Dec. 31, 2020 |
Cash and cash equivalents [abstract] | ||||
Cash on hand and in banks | $ 39,561,892 | $ 41,520,864 | ||
Highly liquid investments | 22,709,179 | 34,985,583 | ||
Cash and cash equivalents | $ 62,271,071 | $ 76,506,447 | $ 39,640,701 | $ 39,989,781 |
Cash and Cash Equivalents - S_2
Cash and Cash Equivalents - Summary of Cash and Cash Equivalents (Parenthetical) (Detail) $ in Thousands | Dec. 31, 2021 MXN ($) |
Cash | |
Statement [line items] | |
Assets of benefit plan | $ 15,461,286 |
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 | Sep. 30, 2022 | Dec. 31, 2021 |
Trade and Other Receivables [Line Items] | ||
Accounts receivable derived from customer contracts | $ 130,514,339 | $ 101,259,081 |
Domestic customers, net | ||
Trade and Other Receivables [Line Items] | ||
Accounts receivable derived from customer contracts | 73,463,144 | 54,031,475 |
Export customers, net | ||
Trade and Other Receivables [Line Items] | ||
Accounts receivable derived from customer contracts | $ 57,051,195 | $ 47,227,606 |
Customers and Other Financing_4
Customers and Other Financing and Non-Financing Accounts Receivable - Summary of Other Accounts Receivable (Detail) - MXN ($) $ in Thousands | Sep. 30, 2022 | Dec. 31, 2021 |
Financial assets: | ||
Sundry debtors | $ 30,129,263 | $ 37,034,460 |
Employees and officers | 4,343,719 | 3,752,693 |
Total financial Assets | 34,472,982 | 40,787,153 |
Non-financial assets: | ||
Taxes to be recovered and prepaid taxes | 76,430,365 | 80,581,955 |
Special Tax on Production and Services | (44,749,952) | (53,176,800) |
Other accounts receivable | (3,135,031) | (2,591,360) |
Total non-financial assets: | $ 124,315,348 | $ 136,350,115 |
Customers and Other Financing_5
Customers and Other Financing and Non-Financing Accounts Receivable - Summary of Other Accounts Receivable (Parenthetical) (Detail) - MXN ($) $ in Thousands | Sep. 30, 2022 | Dec. 31, 2021 |
Trade and other receivables [abstract] | ||
Financing receivable, individually evaluated for impairment | $ (312,202) | $ (210,672) |
Inventories - Summary of Invent
Inventories - Summary of Inventories (Detail) - MXN ($) $ in Thousands | Sep. 30, 2022 | Dec. 31, 2021 |
Disclosure of Inventories [Line Items] | ||
Inventories | $ 170,787,677 | $ 86,113,142 |
Refined and petrochemicals products | ||
Disclosure of Inventories [Line Items] | ||
Inventories | 73,864,875 | 40,359,715 |
Products in transit | ||
Disclosure of Inventories [Line Items] | ||
Inventories | 63,383,057 | 21,614,227 |
Crude oil | ||
Disclosure of Inventories [Line Items] | ||
Inventories | 27,418,100 | 18,540,376 |
Materials and products in stock | ||
Disclosure of Inventories [Line Items] | ||
Inventories | 5,488,139 | 5,036,587 |
Materials in transit | ||
Disclosure of Inventories [Line Items] | ||
Inventories | 337,832 | 313,899 |
Gas and condensate products | ||
Disclosure of Inventories [Line Items] | ||
Inventories | $ 295,674 | $ 248,338 |
Investments In Joint Ventures_3
Investments In Joint Ventures and Associates - Schedule of Investments in Joint Ventures and Associates (Detail) - MXN ($) $ in Thousands | 9 Months Ended | 12 Months Ended |
Sep. 30, 2022 | Dec. 31, 2021 | |
Disclosure of Investments in Subsidiaries Joint Ventures and Associates [Line items] | ||
Investments in joint ventures and associates | $ 2,107,628 | $ 2,254,952 |
Total | ||
Disclosure of Investments in Subsidiaries Joint Ventures and Associates [Line items] | ||
Investments in joint ventures and associates | 2,107,628 | 2,254,952 |
Total | $ 2,107,628 | $ 8,958,276 |
Deer Park Refining Limited Partnership | ||
Disclosure of Investments in Subsidiaries Joint Ventures and Associates [Line items] | ||
Percentage of investment | 100% | 49.995% |
Investments in joint ventures and associates | $ 0 | $ 6,703,324 |
(Impairment) in joint venture Deer Park Refining Limited Partnership | $ 0 | (6,703,324) |
Frontera Brownsville, LLC. | ||
Disclosure of Investments in Subsidiaries Joint Ventures and Associates [Line items] | ||
Percentage of investment | 50% | |
Investments in joint ventures and associates | $ 440,353 | 456,503 |
Texas Frontera, LLC. | ||
Disclosure of Investments in Subsidiaries Joint Ventures and Associates [Line items] | ||
Percentage of investment | 50% | |
Investments in joint ventures and associates | $ 188,320 | 195,814 |
CH 4 Energía, S. A. de C.V. | ||
Disclosure of Investments in Subsidiaries Joint Ventures and Associates [Line items] | ||
Percentage of investment | 50% | |
Investments in joint ventures and associates | $ 154,097 | 174,321 |
Sierrita Gas Pipeline LLC | ||
Disclosure of Investments in Subsidiaries Joint Ventures and Associates [Line items] | ||
Percentage of investment | 35% | |
Investments in joint ventures and associates | $ 1,064,301 | 1,187,170 |
Administración Portuaria Integral de Dos Bocas, S. A. de C.V. | ||
Disclosure of Investments in Subsidiaries Joint Ventures and Associates [Line items] | ||
Percentage of investment | 40% | |
Investments in joint ventures and associates | $ 131,358 | 110,344 |
Other-net | ||
Disclosure of Investments in Subsidiaries Joint Ventures and Associates [Line items] | ||
Investments in joint ventures and associates | $ 129,199 | $ 130,800 |
Investments In Joint Ventures_4
Investments In Joint Ventures and Associates - Schedule of Investments in Joint Ventures and Associates (Parenthetical) (Detail) | 9 Months Ended | 12 Months Ended |
Sep. 30, 2022 | Dec. 31, 2021 | |
Deer Park Refining Limited Partnership | ||
Disclosure of Investments in Associates and Other [Line Items] | ||
Ownership percentage | 100% | 49.995% |
Investments In Joint Ventures_5
Investments In Joint Ventures and Associates - Schedule (Loss) profit Sharing in Joint Ventures and Associates (Detail) - MXN ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2022 | Sep. 30, 2021 | Sep. 30, 2022 | Sep. 30, 2021 | |
Disclosure of Investments in Associates and Other [Line Items] | ||||
Profit (loss) sharing in joint ventures and associates, net | $ 71,201 | $ 41,601 | $ 232,349 | $ (3,166,683) |
Administración Portuaria Integral de Dos Bocas, S. A. de C.V. | ||||
Disclosure of Investments in Associates and Other [Line Items] | ||||
Profit (loss) sharing in joint ventures and associates, net | 18,813 | (43,906) | 21,014 | (79,083) |
Sierrita Gas Pipeline LLC | ||||
Disclosure of Investments in Associates and Other [Line Items] | ||||
Profit (loss) sharing in joint ventures and associates, net | 16,171 | 33,339 | 97,616 | 100,215 |
Ductos el Peninsular, S. A. P. I. de C. V. | ||||
Disclosure of Investments in Associates and Other [Line Items] | ||||
Profit (loss) sharing in joint ventures and associates, net | (396) | (16) | (370) | (18) |
Other-net | ||||
Disclosure of Investments in Associates and Other [Line Items] | ||||
Profit (loss) sharing in joint ventures and associates, net | 20,951 | 24,178 | 62,934 | 64,601 |
Deer Park Refining Limited Partnership | ||||
Disclosure of Investments in Associates and Other [Line Items] | ||||
Profit (loss) sharing in joint ventures and associates, net | 0 | 4,351 | 0 | (3,320,804) |
Frontera Brownsville, LLC. | ||||
Disclosure of Investments in Associates and Other [Line Items] | ||||
Profit (loss) sharing in joint ventures and associates, net | 9,628 | 6,385 | 17,056 | 30,500 |
Texas Frontera, LLC. | ||||
Disclosure of Investments in Associates and Other [Line Items] | ||||
Profit (loss) sharing in joint ventures and associates, net | 3,568 | 4,904 | 10,824 | 18,366 |
CH4 Energía, S. A. de C.V. | ||||
Disclosure of Investments in Associates and Other [Line Items] | ||||
Profit (loss) sharing in joint ventures and associates, net | $ 2,466 | $ 12,366 | $ 23,275 | $ 19,540 |
Investments In Joint Ventures_6
Investments In Joint Ventures and Associates - Additional Information (Detail) $ in Thousands, $ in Thousands | 1 Months Ended | 9 Months Ended | |||||||
Jan. 20, 2022 MXN ($) | Jan. 20, 2022 USD ($) | Jul. 27, 2010 tank Barrels | Mar. 31, 1993 Barrels | Sep. 30, 2022 MXN ($) | Jan. 31, 2022 MXN ($) | Jan. 31, 2022 USD ($) | Jan. 20, 2022 USD ($) | Dec. 31, 2021 MXN ($) | |
Disclosure of Investments in Associates and Other [Line Items] | |||||||||
Investments in joint ventures and associates | $ 2,107,628 | $ 2,254,952 | |||||||
Current borrowings | 420,323,023 | 492,283,613 | |||||||
Deer Park | |||||||||
Disclosure of Investments in Associates and Other [Line Items] | |||||||||
Acquired percentage | 50.005% | 50.005% | |||||||
Cash transferred | $ 6,663,803 | $ 326,609 | |||||||
Acquisition-related costs recognised as expense | 145,937 | $ 7,091 | |||||||
Gain recognised in bargain purchase transaction | $ 1,271,188 | 62,304 | |||||||
Revenue of acquiree since acquisition date | 210,962,937 | ||||||||
Profit (loss) of acquiree since acquisition date | 20,580,112 | ||||||||
Increase (decrease) through net exchange differences, investment property | (10,383,296) | ||||||||
Deer Park | PMI NASA | |||||||||
Disclosure of Investments in Associates and Other [Line Items] | |||||||||
Percentage of partner loan repayment | 100% | 100% | |||||||
Cash transferred | $ 1,227,383 | $ 60,157 | |||||||
Equity interests of acquirer | 5,436,420 | $ 266,452 | |||||||
Line of credit facility principle payment | 6,630,975 | 325,000 | |||||||
Line of credit facility interest payment | $ 32,828 | $ 1,609 | |||||||
FONADIN | |||||||||
Disclosure of Investments in Associates and Other [Line Items] | |||||||||
Amounts receivable, related party transactions | $ 23,000,000 | $ 1,127,285 | |||||||
Current borrowings | $ 8,974,406 | $ 436,000 | |||||||
Deer Park Refining Limited Partnership | |||||||||
Disclosure of Investments in Associates and Other [Line Items] | |||||||||
Investments in joint ventures and associates | 0 | $ 6,703,324 | |||||||
Percentage of investment | 49.995% | ||||||||
Deer Park Refining Limited Partnership | Non adjusting event | |||||||||
Disclosure of Investments in Associates and Other [Line Items] | |||||||||
Acquired percentage | 50.005% | 50.005% | |||||||
Deer Park Refining Limited Partnership | PMI NASA | |||||||||
Disclosure of Investments in Associates and Other [Line Items] | |||||||||
Acquired percentage | 49.995% | ||||||||
Installed capacity of crude oil per day | Barrels | 340,000 | ||||||||
Texas Frontera, LLC. | |||||||||
Disclosure of Investments in Associates and Other [Line Items] | |||||||||
Investments in joint ventures and associates | $ 188,320 | $ 195,814 | |||||||
Number of tanks | tank | 7 | ||||||||
Number of barrels in each tanks | Barrels | 120,000 | ||||||||
Texas Frontera, LLC. | PMI SUS | |||||||||
Disclosure of Investments in Associates and Other [Line Items] | |||||||||
Acquired percentage | 50% |
Investments In Joint Ventures_7
Investments In Joint Ventures and Associates - Summary of Business Acquisition Consideration Transferred (Detail) - Jan. 20, 2022 $ in Thousands, $ in Thousands | MXN ($) | USD ($) | USD ($) |
Disclosure of detailed information about business combination [line items] | |||
Fair value of the identifiable net assets acquired | $ 38,317,854 | $ 1,878,050 | |
Deer Park Refining Limited Partnership | Non adjusting event | |||
Disclosure of detailed information about business combination [line items] | |||
Acquired percentage | 50.005% | 50.005% | |
Deer Park | |||
Disclosure of detailed information about business combination [line items] | |||
Cash paid to Shell | $ 8,597,743 | $ 421,396 | |
Payment of debt to third parties | 18,289,066 | 896,391 | |
Payment of DPRLP’s debt to company partners | 3,496,054 | 171,350 | |
Total consideration paid in cash | 30,382,863 | 1,489,137 | |
Settlement of pre-existing relationship | 6,663,803 | 326,609 | |
Total consideration paid in cash and settlement of pre-existing relationship | 37,046,666 | 1,815,746 | |
Fair value of the identifiable net assets acquired | (38,317,854) | $ (1,878,050) | |
Gain on bargain purchase | $ (1,271,188) | $ (62,304) | |
Acquired percentage | 50.005% | 50.005% |
Investments In Joint Ventures_8
Investments In Joint Ventures and Associates - Summary Of Fair Value of Identifiable Assets Acquired (Detail) - Jan. 20, 2022 $ in Thousands, $ in Thousands | MXN ($) | USD ($) |
Investments in subsidiaries, joint ventures and associates reported in separate financial statements [abstract] | ||
Cash and cash equivalents | $ 1,597,759 | $ 78,310 |
Inventories | 6,918,473 | 339,091 |
Other current assets | 131,661 | 6,453 |
Total current Assets | 8,647,893 | 423,854 |
Property, Plant and Equipment | 29,669,961 | 1,454,196 |
Total identifiable net assets acquired | $ 38,317,854 | $ 1,878,050 |
Wells, Pipelines, Properties,_3
Wells, Pipelines, Properties, Plant and Equipment, Net - Detailed Information About Property, Plant and Equipment (Detail) $ in Thousands, $ in Thousands | 9 Months Ended | 12 Months Ended | |||
Sep. 30, 2022 MXN ($) | Sep. 30, 2021 MXN ($) | Dec. 31, 2021 MXN ($) | Jan. 20, 2022 MXN ($) | Jan. 20, 2022 USD ($) | |
Disclosure of detailed information about property, plant and equipment [line items] | |||||
Beginning balance | $ 1,274,532,607 | ||||
Translation effect | 323,024 | $ 1,765,350 | |||
Ending balance | 1,451,531,756 | 1,313,928,935 | $ 1,274,532,607 | ||
Property, Plant and Equipment | $ 29,669,961 | $ 1,454,196 | |||
Carrying amount | |||||
Disclosure of detailed information about property, plant and equipment [line items] | |||||
Beginning balance | 3,811,116,522 | 3,380,637,120 | 3,380,637,120 | ||
Acquisitions | 232,194,967 | 100,391,551 | 180,344,668 | ||
Reclassifications | (80,750) | 335,803 | 905,862 | ||
Impairment presentation | 378,759,158 | ||||
Capitalization | 0 | 0 | 0 | ||
Translation effect | (1,816,197) | ||||
Disposals | 6,544,520 | 301,400 | 129,530,286 | ||
Ending balance | 4,034,870,022 | 3,481,063,074 | 3,811,116,522 | ||
Amortization accumulated | |||||
Disclosure of detailed information about property, plant and equipment [line items] | |||||
Beginning balance | (2,536,583,915) | (2,104,507,599) | (2,104,507,599) | ||
Depreciation and amortization | (106,232,390) | (100,620,021) | (133,431,365) | ||
Reclassifications | 80,750 | (335,803) | (905,862) | ||
Impairment presentation | (378,759,158) | ||||
(Impairment) | (48,794,953) | (50,948,816) | (157,861,308) | ||
Reversal of impairment | 105,668,799 | 89,191,280 | 156,650,713 | ||
Translation effect | 1,493,173 | ||||
Disposals | (1,030,270) | (86,820) | (82,230,664) | ||
Ending balance | (2,583,338,266) | (2,167,134,139) | (2,536,583,915) | ||
Plants | |||||
Disclosure of detailed information about property, plant and equipment [line items] | |||||
Beginning balance | 268,996,454 | ||||
Ending balance | 326,861,367 | 280,835,579 | 268,996,454 | ||
Plants | Carrying amount | |||||
Disclosure of detailed information about property, plant and equipment [line items] | |||||
Beginning balance | 951,486,189 | 811,705,022 | 811,705,022 | ||
Acquisitions | 29,011,070 | 7,963,546 | 16,202,848 | ||
Reclassifications | 1,325,400 | 3,154,806 | 3,218,834 | ||
Impairment presentation | 113,522,135 | ||||
Capitalization | 16,103,330 | 1,520,740 | 8,292,881 | ||
Translation effect | (1,154,917) | ||||
Disposals | 1,513,220 | 118,695 | 1,455,531 | ||
Ending balance | 995,257,852 | 824,225,419 | 951,486,189 | ||
Plants | Amortization accumulated | |||||
Disclosure of detailed information about property, plant and equipment [line items] | |||||
Beginning balance | (682,489,735) | (520,582,198) | (520,582,198) | ||
Depreciation and amortization | (28,447,920) | (26,230,863) | (39,126,110) | ||
Reclassifications | (28,640) | (292,377) | (4,541,518) | ||
Impairment presentation | (113,522,135) | ||||
(Impairment) | (25,633,448) | (13,949,961) | (43,670,755) | ||
Reversal of impairment | 67,221,448 | 17,595,386 | 38,499,016 | ||
Translation effect | 802,590 | ||||
Disposals | (179,220) | (70,173) | (453,965) | ||
Ending balance | $ (668,396,485) | (543,389,840) | (682,489,735) | ||
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 | $ 7,267,028 | ||||
Ending balance | $ 6,633,338 | 7,276,739 | 7,267,028 | ||
Depreciation rates | 5% | ||||
Estimated useful lives | 20 years | ||||
Drilling equipment | Carrying amount | |||||
Disclosure of detailed information about property, plant and equipment [line items] | |||||
Beginning balance | $ 13,548,596 | 13,492,631 | 13,492,631 | ||
Acquisitions | 365,480 | 0 | 57,182 | ||
Reclassifications | 0 | 0 | 0 | ||
Impairment presentation | (1,217) | ||||
Capitalization | 0 | 0 | 0 | ||
Translation effect | 0 | ||||
Disposals | 893,530 | 0 | 0 | ||
Ending balance | 13,020,546 | 13,492,631 | 13,548,596 | ||
Drilling equipment | Amortization accumulated | |||||
Disclosure of detailed information about property, plant and equipment [line items] | |||||
Beginning balance | (6,281,568) | (5,902,442) | (5,902,442) | ||
Depreciation and amortization | (331,820) | (313,450) | (395,756) | ||
Reclassifications | 0 | 0 | 15,413 | ||
Impairment presentation | 1,217 | ||||
(Impairment) | 0 | 0 | 0 | ||
Reversal of impairment | 0 | 0 | 0 | ||
Translation effect | 226,180 | ||||
Disposals | 0 | 0 | 0 | ||
Ending balance | (6,387,208) | (6,215,892) | (6,281,568) | ||
Pipelines | |||||
Disclosure of detailed information about property, plant and equipment [line items] | |||||
Beginning balance | 259,038,544 | ||||
Ending balance | 264,029,309 | 264,454,226 | 259,038,544 | ||
Pipelines | Carrying amount | |||||
Disclosure of detailed information about property, plant and equipment [line items] | |||||
Beginning balance | 495,475,879 | 481,791,665 | 481,791,665 | ||
Acquisitions | 2,153,240 | 2,255,478 | 4,008,698 | ||
Reclassifications | 0 | (7,699) | (507,065) | ||
Impairment presentation | 24,292,290 | ||||
Capitalization | 7,900,270 | 2,256,417 | 3,923,149 | ||
Translation effect | (23,310) | ||||
Disposals | 252,940 | 115 | 18,032,858 | ||
Ending balance | 505,253,139 | 486,295,746 | 495,475,879 | ||
Pipelines | Amortization accumulated | |||||
Disclosure of detailed information about property, plant and equipment [line items] | |||||
Beginning balance | (236,437,335) | (200,976,329) | (200,976,329) | ||
Depreciation and amortization | (11,578,310) | (10,943,480) | (16,731,217) | ||
Reclassifications | 0 | (47,505) | (90,202) | ||
Impairment presentation | (24,292,290) | ||||
(Impairment) | (1,321,170) | (11,353,737) | (25,193,511) | ||
Reversal of impairment | 7,814,245 | 1,550,200 | 23,545,676 | ||
Translation effect | 31,730 | ||||
Disposals | (267,010) | (70,669) | (7,300,538) | ||
Ending balance | $ (241,223,830) | (221,841,520) | (236,437,335) | ||
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 | $ 305,091,542 | ||||
Ending balance | 329,188,490 | 345,566,806 | 305,091,542 | ||
Wells | Carrying amount | |||||
Disclosure of detailed information about property, plant and equipment [line items] | |||||
Beginning balance | 1,487,962,570 | 1,387,228,249 | 1,387,228,249 | ||
Acquisitions | 22,648,940 | 18,125,341 | 31,584,832 | ||
Reclassifications | 0 | 105,873 | 64,049 | ||
Impairment presentation | 121,070,386 | ||||
Capitalization | 48,128,330 | 28,673,456 | 43,076,120 | ||
Translation effect | 0 | ||||
Disposals | 0 | 0 | 95,061,066 | ||
Ending balance | 1,558,739,840 | 1,434,132,919 | 1,487,962,570 | ||
Wells | Amortization accumulated | |||||
Disclosure of detailed information about property, plant and equipment [line items] | |||||
Beginning balance | (1,182,871,028) | (1,081,366,803) | (1,081,366,803) | ||
Depreciation and amortization | (49,906,090) | (49,210,710) | (56,070,192) | ||
Reclassifications | 0 | 0 | (89,082) | ||
Impairment presentation | (121,070,386) | ||||
(Impairment) | (12,148,001) | (24,319,176) | (62,151,433) | ||
Reversal of impairment | 15,302,089 | 66,330,576 | 72,569,176 | ||
Translation effect | 71,680 | ||||
Disposals | 0 | 0 | (65,307,692) | ||
Ending balance | (1,229,551,350) | (1,088,566,113) | (1,182,871,028) | ||
Buildings | |||||
Disclosure of detailed information about property, plant and equipment [line items] | |||||
Beginning balance | 24,855,535 | ||||
Ending balance | 26,450,525 | 19,340,998 | 24,855,535 | ||
Buildings | Carrying amount | |||||
Disclosure of detailed information about property, plant and equipment [line items] | |||||
Beginning balance | 70,711,580 | 60,311,739 | 60,311,739 | ||
Acquisitions | 2,129,720 | 11,312 | 287,710 | ||
Reclassifications | 0 | 65 | 115 | ||
Impairment presentation | 9,817,972 | ||||
Capitalization | 930,740 | 287,955 | 294,044 | ||
Translation effect | (106,400) | ||||
Disposals | 60,140 | 0 | 0 | ||
Ending balance | 73,605,500 | 60,611,071 | 70,711,580 | ||
Buildings | Amortization accumulated | |||||
Disclosure of detailed information about property, plant and equipment [line items] | |||||
Beginning balance | (45,856,045) | (39,893,540) | (39,893,540) | ||
Depreciation and amortization | (1,430,920) | (1,368,441) | (1,846,486) | ||
Reclassifications | 0 | (25,026) | 5,701,953 | ||
Impairment presentation | (9,817,972) | ||||
(Impairment) | 0 | 0 | 0 | ||
Reversal of impairment | 0 | 0 | 0 | ||
Translation effect | 75,730 | ||||
Disposals | (56,260) | (16,934) | 0 | ||
Ending balance | $ (47,154,975) | (41,270,073) | (45,856,045) | ||
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 | $ 151,810,657 | ||||
Ending balance | $ 147,798,164 | 144,600,627 | 151,810,657 | ||
Depreciation rates | 4% | ||||
Estimated useful lives | 25 years | ||||
Offshore platforms | Carrying amount | |||||
Disclosure of detailed information about property, plant and equipment [line items] | |||||
Beginning balance | $ 415,885,213 | 354,353,029 | 354,353,029 | ||
Acquisitions | 1,180,740 | 2,606,668 | 4,630,358 | ||
Reclassifications | (1,039,690) | (2,931,778) | (2,931,778) | ||
Impairment presentation | 67,305,005 | ||||
Capitalization | 2,376,410 | 2,148,170 | 4,659,693 | ||
Translation effect | 0 | ||||
Disposals | 130 | 0 | 12,131,094 | ||
Ending balance | 418,402,543 | 356,176,089 | 415,885,213 | ||
Offshore platforms | Amortization accumulated | |||||
Disclosure of detailed information about property, plant and equipment [line items] | |||||
Beginning balance | (264,074,556) | (204,238,464) | (204,238,464) | ||
Depreciation and amortization | (11,827,740) | (10,650,961) | (16,627,864) | ||
Reclassifications | 28,200 | 49,841 | 51,568 | ||
Impairment presentation | (67,305,005) | ||||
(Impairment) | 8,187,040 | 0 | (5,503,546) | ||
Reversal of impairment | 13,456,757 | 3,264,122 | 20,727,844 | ||
Translation effect | 0 | ||||
Disposals | 0 | 0 | (8,820,911) | ||
Ending balance | (270,604,379) | (211,575,462) | (264,074,556) | ||
Furniture and equipment | |||||
Disclosure of detailed information about property, plant and equipment [line items] | |||||
Beginning balance | 4,615,348 | ||||
Ending balance | 8,532,368 | 4,896,932 | 4,615,348 | ||
Furniture and equipment | Carrying amount | |||||
Disclosure of detailed information about property, plant and equipment [line items] | |||||
Beginning balance | 49,310,555 | 48,829,010 | 48,829,010 | ||
Acquisitions | 5,447,380 | 802,055 | 974,167 | ||
Reclassifications | (202,330) | 2,082 | 2,049 | ||
Impairment presentation | (328,799) | ||||
Capitalization | 702,690 | 129,397 | 152,540 | ||
Translation effect | (56,280) | ||||
Disposals | 351,550 | 86,428 | 318,412 | ||
Ending balance | 54,850,465 | 49,676,116 | 49,310,555 | ||
Furniture and equipment | Amortization accumulated | |||||
Disclosure of detailed information about property, plant and equipment [line items] | |||||
Beginning balance | (44,695,207) | (43,336,870) | (43,336,870) | ||
Depreciation and amortization | (2,134,580) | (1,493,639) | (2,008,187) | ||
Reclassifications | 77,150 | 1,296 | 59,141 | ||
Impairment presentation | 328,799 | ||||
(Impairment) | 0 | 0 | 0 | ||
Reversal of impairment | 0 | 0 | 0 | ||
Translation effect | 278,300 | ||||
Disposals | (156,240) | (50,029) | (261,910) | ||
Ending balance | $ (46,318,097) | (44,779,184) | (44,695,207) | ||
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 | $ 13,474,475 | ||||
Ending balance | 11,797,068 | 8,704,950 | 13,474,475 | ||
Transportation equipment | Carrying amount | |||||
Disclosure of detailed information about property, plant and equipment [line items] | |||||
Beginning balance | 28,534,437 | 16,829,532 | 16,829,532 | ||
Acquisitions | 2,877,230 | 119,759 | 326,998 | ||
Reclassifications | (4,721,920) | 73,211 | 130,971 | ||
Impairment presentation | 6,303,440 | ||||
Capitalization | 1,116,720 | 0 | 5,235,745 | ||
Translation effect | (60,590) | ||||
Disposals | 696,380 | 24,619 | 292,249 | ||
Ending balance | 27,049,497 | 16,997,883 | 28,534,437 | ||
Transportation equipment | Amortization accumulated | |||||
Disclosure of detailed information about property, plant and equipment [line items] | |||||
Beginning balance | (15,059,962) | (8,210,953) | (8,210,953) | ||
Depreciation and amortization | (575,010) | (408,477) | (625,553) | ||
Reclassifications | 4,040 | (22,032) | 103,085 | ||
Impairment presentation | (6,303,440) | ||||
(Impairment) | 0 | 0 | (108,749) | ||
Reversal of impairment | 0 | 328,176 | 0 | ||
Translation effect | 6,963 | ||||
Disposals | (371,540) | (20,353) | (85,648) | ||
Ending balance | $ (15,252,429) | (8,292,933) | (15,059,962) | ||
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 | $ 194,617,031 | ||||
Ending balance | 285,438,634 | 193,977,096 | 194,617,031 | ||
Construction in progress | Carrying amount | |||||
Disclosure of detailed information about property, plant and equipment [line items] | |||||
Beginning balance | 253,435,510 | 161,870,424 | 161,870,424 | ||
Acquisitions | 166,324,927 | 68,499,434 | 122,214,783 | ||
Reclassifications | 4,557,790 | (103,587) | 127,142 | ||
Impairment presentation | 36,777,946 | ||||
Capitalization | (77,672,310) | (35,016,135) | (65,840,388) | ||
Translation effect | (381,840) | ||||
Disposals | 2,375,930 | 71,339 | 1,714,397 | ||
Ending balance | 343,888,147 | 195,178,797 | 253,435,510 | ||
Construction in progress | Amortization accumulated | |||||
Disclosure of detailed information about property, plant and equipment [line items] | |||||
Beginning balance | (58,818,479) | 0 | 0 | ||
Depreciation and amortization | 0 | 0 | 0 | ||
Reclassifications | 0 | 0 | (2,116,220) | ||
Impairment presentation | (36,777,946) | ||||
(Impairment) | (1,505,294) | 1,324,521 | (21,233,314) | ||
Reversal of impairment | 1,874,260 | 122,820 | 1,309,001 | ||
Translation effect | 0 | ||||
Disposals | 0 | 0 | 0 | ||
Ending balance | (58,449,513) | (1,201,701) | (58,818,479) | ||
Land | |||||
Disclosure of detailed information about property, plant and equipment [line items] | |||||
Beginning balance | 44,765,993 | ||||
Ending balance | 44,802,493 | 44,274,982 | 44,765,993 | ||
Land | Carrying amount | |||||
Disclosure of detailed information about property, plant and equipment [line items] | |||||
Beginning balance | 44,765,993 | 44,225,819 | 44,225,819 | ||
Acquisitions | 56,240 | 7,958 | 57,092 | ||
Reclassifications | 0 | 41,205 | 276,866 | ||
Impairment presentation | 0 | ||||
Capitalization | 413,820 | 0 | 206,216 | ||
Translation effect | (32,860) | ||||
Disposals | 400,700 | 0 | 0 | ||
Ending balance | 44,802,493 | 44,274,982 | 44,765,993 | ||
Land | Amortization accumulated | |||||
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 presentation | 0 | ||||
(Impairment) | 0 | 0 | 0 | ||
Reversal of impairment | 0 | 0 | 0 | ||
Translation effect | 0 | ||||
Disposals | 0 | 0 | 0 | ||
Ending balance | 0 | 0 | 0 | ||
Unproductive fixed assets | |||||
Disclosure of detailed information about property, plant and equipment [line items] | |||||
Beginning balance | 0 | ||||
Ending balance | 0 | 0 | 0 | ||
Unproductive fixed assets | Carrying amount | |||||
Disclosure of detailed information about property, plant and equipment [line items] | |||||
Beginning balance | 0 | 0 | 0 | ||
Acquisitions | 0 | 0 | 0 | ||
Reclassifications | 0 | 1,625 | 524,679 | ||
Impairment presentation | 0 | ||||
Capitalization | 0 | 0 | 0 | ||
Translation effect | 0 | ||||
Disposals | 0 | 204 | 524,679 | ||
Ending balance | 0 | 1,421 | 0 | ||
Unproductive fixed assets | Amortization accumulated | |||||
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 presentation | 0 | ||||
(Impairment) | 0 | (1,421) | 0 | ||
Reversal of impairment | 0 | 0 | 0 | ||
Translation effect | 0 | ||||
Disposals | 0 | 0 | 0 | ||
Ending balance | $ 0 | $ (1,421) | $ 0 |
Wells, Pipelines, Properties,_4
Wells, Pipelines, Properties, Plant and Equipment, Net - Detailed Information About Property, Plant and Equipment (Parenthetical) (Detail) - MXN ($) $ in Thousands | 3 Months Ended | 9 Months Ended | |||
Sep. 30, 2022 | Sep. 30, 2021 | Sep. 30, 2022 | Sep. 30, 2021 | Dec. 31, 2021 | |
Disclosure of detailed information about property, plant and equipment [line items] | |||||
Depreciation and amortization | $ 106,232,390 | $ 100,620,021 | |||
Plugging and abandonment cost | 72,321 | 111,453 | |||
Provisions for plugging wells | $ 73,003,139 | 73,003,139 | $ 70,144,756 | ||
Increase (decrease) through net exchange differences, property, plant and equipment | 323,024 | 1,765,350 | |||
Reversal of impairment/ (Impairment), net | $ (7,254,264) | $ 6,050,004 | 56,873,846 | 38,242,464 | |
Pemex Exploration and Production | |||||
Disclosure of detailed information about property, plant and equipment [line items] | |||||
Financing cost | $ 3,201,474 | $ 2,278,835 | |||
Pemex Exploration and Production | Bottom of range | |||||
Disclosure of detailed information about property, plant and equipment [line items] | |||||
Financing costs rates | 5.40% | 6.15% | |||
Pemex Exploration and Production | Top of range | |||||
Disclosure of detailed information about property, plant and equipment [line items] | |||||
Financing costs rates | 6.64% | 6.48% |
Wells, Pipelines, Properties,_5
Wells, Pipelines, Properties, Plant and Equipment, Net - Summary of Net Impairment and Net Reversal of Impairment (Detail) - MXN ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2022 | Sep. 30, 2021 | Sep. 30, 2022 | Sep. 30, 2021 | |
Disclosure of detailed information about property, plant and equipment [line items] | ||||
Reversal of impairment | $ 105,668,799 | $ 89,191,280 | ||
(Impairment) | (48,794,953) | (50,948,816) | ||
Reversal of impairment/ (Impairment), net | $ (7,254,264) | $ 6,050,004 | 56,873,846 | 38,242,464 |
Pemex Exploration and Production | ||||
Disclosure of detailed information about property, plant and equipment [line items] | ||||
Reversal of impairment | 37,007,434 | 74,064,522 | ||
(Impairment) | (25,047,799) | (36,428,848) | ||
Reversal of impairment/ (Impairment), net | 11,959,635 | 37,635,674 | ||
Pemex Industrial Transformation | ||||
Disclosure of detailed information about property, plant and equipment [line items] | ||||
Reversal of impairment | 66,836,020 | 14,798,584 | ||
(Impairment) | (23,747,154) | (14,519,968) | ||
Reversal of impairment/ (Impairment), net | 43,088,866 | 278,616 | ||
Pemex Logistics | ||||
Disclosure of detailed information about property, plant and equipment [line items] | ||||
Reversal of impairment | 1,542,908 | 328,174 | ||
(Impairment) | 0 | 0 | ||
Reversal of impairment/ (Impairment), net | 1,542,908 | 328,174 | ||
MGAS | ||||
Disclosure of detailed information about property, plant and equipment [line items] | ||||
Reversal of impairment | 282,437 | 0 | ||
(Impairment) | 0 | 0 | ||
Reversal of impairment/ (Impairment), net | $ 282,437 | $ 0 |
Wells, Pipelines, Properties,_6
Wells, Pipelines, Properties, Plant and Equipment, Net - Summary of Impairment in Cash Generating Units (Detail) - MXN ($) $ in Thousands | 9 Months Ended | |
Sep. 30, 2022 | Sep. 30, 2021 | |
Disclosure of information for impairment loss recognised or reversed for individual asset or cash-generating unit [line items] | ||
Reversal of impairment | $ 105,668,799 | $ 89,191,280 |
(Impairment) | (48,794,953) | (50,948,816) |
Pemex Exploration and Production | ||
Disclosure of information for impairment loss recognised or reversed for individual asset or cash-generating unit [line items] | ||
Reversal of impairment | 37,007,434 | 74,064,522 |
(Impairment) | (25,047,799) | (36,428,848) |
Reversal (impairment) net | 11,959,635 | 37,635,674 |
Pemex Exploration and Production | Cantarell | ||
Disclosure of information for impairment loss recognised or reversed for individual asset or cash-generating unit [line items] | ||
Reversal of impairment | 18,195,996 | 39,981,311 |
(Impairment) | 0 | (1,149,238) |
Pemex Exploration and Production | Burgos | ||
Disclosure of information for impairment loss recognised or reversed for individual asset or cash-generating unit [line items] | ||
Reversal of impairment | 9,124,073 | 0 |
(Impairment) | (2,965,348) | (7,213,977) |
Pemex Exploration and Production | Antonio J. Bermudez | ||
Disclosure of information for impairment loss recognised or reversed for individual asset or cash-generating unit [line items] | ||
Reversal of impairment | 6,252,924 | 6,342,147 |
(Impairment) | (276,546) | 0 |
Pemex Exploration and Production | Tamaulipas constituciones | ||
Disclosure of information for impairment loss recognised or reversed for individual asset or cash-generating unit [line items] | ||
Reversal of impairment | 1,603,470 | 2,678,561 |
(Impairment) | (916,937) | (376,676) |
Pemex Exploration and Production | Tsimin Xux | ||
Disclosure of information for impairment loss recognised or reversed for individual asset or cash-generating unit [line items] | ||
Reversal of impairment | 766,217 | 0 |
(Impairment) | (8,902,374) | (13,576,172) |
Pemex Exploration and Production | Ogarrio Magallanes | ||
Disclosure of information for impairment loss recognised or reversed for individual asset or cash-generating unit [line items] | ||
Reversal of impairment | 530,061 | 0 |
(Impairment) | (9,563,163) | (308,809) |
Pemex Exploration and Production | Cuenca de Macuspana | ||
Disclosure of information for impairment loss recognised or reversed for individual asset or cash-generating unit [line items] | ||
Reversal of impairment | 267,549 | 20,188 |
Pemex Exploration and Production | Misión (Cee) | ||
Disclosure of information for impairment loss recognised or reversed for individual asset or cash-generating unit [line items] | ||
Reversal of impairment | 234,658 | 0 |
(Impairment) | (151,347) | (297,469) |
Pemex Exploration and Production | Ébano | ||
Disclosure of information for impairment loss recognised or reversed for individual asset or cash-generating unit [line items] | ||
Reversal of impairment | 32,486 | 0 |
(Impairment) | (61,765) | 0 |
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] | ||
Reversal of impairment | 0 | 13,493,508 |
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] | ||
Reversal of impairment | 0 | 8,633,963 |
(Impairment) | 0 | (621,456) |
Pemex Exploration and Production | Arenque | ||
Disclosure of information for impairment loss recognised or reversed for individual asset or cash-generating unit [line items] | ||
Reversal of impairment | 0 | 959,456 |
(Impairment) | 0 | (202,649) |
Pemex Exploration and Production | Chuc | ||
Disclosure of information for impairment loss recognised or reversed for individual asset or cash-generating unit [line items] | ||
Reversal of impairment | 0 | 1,473,714 |
(Impairment) | (893,504) | (10,556,097) |
Pemex Exploration and Production | Ixtal - Manik | ||
Disclosure of information for impairment loss recognised or reversed for individual asset or cash-generating unit [line items] | ||
Reversal of impairment | 0 | 481,674 |
Pemex Exploration and Production | Lakach | ||
Disclosure of information for impairment loss recognised or reversed for individual asset or cash-generating unit [line items] | ||
(Impairment) | (1,123,087) | (368,455) |
Pemex Exploration and Production | Ku-Maloob-Zaap | ||
Disclosure of information for impairment loss recognised or reversed for individual asset or cash-generating unit [line items] | ||
(Impairment) | 0 | (993,579) |
Pemex Exploration and Production | Cuenca de Veracruz | ||
Disclosure of information for impairment loss recognised or reversed for individual asset or cash-generating unit [line items] | ||
(Impairment) | 0 | (494,368) |
Pemex Exploration and Production | Cactus Sitio Grande | ||
Disclosure of information for impairment loss recognised or reversed for individual asset or cash-generating unit [line items] | ||
(Impairment) | 0 | (123,472) |
Pemex Exploration and Production | Cuenca Macuspana | ||
Disclosure of information for impairment loss recognised or reversed for individual asset or cash-generating unit [line items] | ||
(Impairment) | $ (193,728) | $ (146,431) |
Wells, Pipelines, Properties,_7
Wells, Pipelines, Properties, Plant and Equipment, Net - Additional Information (Detail) $ in Thousands, Barrels in Millions | 3 Months Ended | 9 Months Ended | 12 Months Ended | |||||
Sep. 30, 2022 MXN ($) Barrels | Mar. 31, 2022 Exchange_Rate | Sep. 30, 2021 MXN ($) Barrels | Mar. 31, 2021 Exchange_Rate | Sep. 30, 2022 MXN ($) Barrels Exchange_Rate Agreement | Sep. 30, 2021 MXN ($) Agreement Barrels Exchange_Rate | Dec. 31, 2021 MXN ($) Exchange_Rate | Dec. 31, 2020 Exchange_Rate | |
Disclosure of detailed information about property, plant and equipment [line items] | ||||||||
Reversal of impairment/ (Impairment), net | $ (7,254,264) | $ 6,050,004 | $ 56,873,846 | $ 38,242,464 | ||||
Lower exchange rate gain | 3,697,480 | |||||||
Effect of exchange rate changes on cash and cash equivalents | $ (3,856,513) | 6,627,952 | ||||||
Increase in raw material costs, percentage | 0.2083 | |||||||
Increase in the discount rate of cash generating units, percentage | 0.1481 | |||||||
Reversal of impairment | $ 274,517,820 | $ 143,179,778 | ||||||
Petrochemicals | ||||||||
Disclosure of detailed information about property, plant and equipment [line items] | ||||||||
Foreign exchange rate | Exchange_Rate | 20.3058 | 20.3060 | 20.5835 | 19.9487 | ||||
Pemex Exploration and Production | ||||||||
Disclosure of detailed information about property, plant and equipment [line items] | ||||||||
Reversal of impairment/ (Impairment), net | $ 11,959,635 | $ 37,635,674 | ||||||
Positive effect from decrease in production | 89,496,928 | 80,075,374 | ||||||
Negative effect from decrease in prices | 64,347,041 | 949,106 | ||||||
Positive effect due to increase decrease in exchange rate amount | $ 1,970,149 | |||||||
Decrease in production volume | 129,998,145 | |||||||
Effect of exchange rate changes on cash and cash equivalents | 7,676,061 | |||||||
Negative tax effect due to higher income | $ 10,158,858 | |||||||
Percentage of increase in discount rate | 7.21% | 6.89% | ||||||
Reversal of impairment | $ 1,205,870,906 | 1,238,150,113 | ||||||
Positive effect due to decrease in discount rate | 3,382,991 | |||||||
Negative effect from decrease in production volume | 44,788,913 | |||||||
Higher expected cost on disposal of abandoned fixed assets | $ 7,760,733 | |||||||
Useful life (in years) | 25 years | |||||||
Production forecast | Barrels | 6,703 | 6,141 | 6,703 | 6,141 | ||||
Pemex Exploration and Production | Minimum | ||||||||
Disclosure of detailed information about property, plant and equipment [line items] | ||||||||
Percentage of decrease in discount rate | 6.23% | |||||||
Pemex Exploration and Production | Maximum | ||||||||
Disclosure of detailed information about property, plant and equipment [line items] | ||||||||
Percentage of decrease in discount rate | 5.90% | |||||||
Pemex Industrial Transformation | ||||||||
Disclosure of detailed information about property, plant and equipment [line items] | ||||||||
Reversal of impairment/ (Impairment), net | $ 43,088,866 | $ 278,616 | ||||||
Foreign exchange rate | Exchange_Rate | 20.5835 | 19.9487 | 20.3058 | 20.3060 | ||||
Percentage of decrease in discount rate | 26% | |||||||
Reversal of impairment | $ 43,088,866 | $ 278,616 | ||||||
Reversal of impairment loss recognised in profit or loss, property, plant and equipment | $ 43,088,866 | $ 278,616 | ||||||
Pemex Industrial Transformation | Refining | ||||||||
Disclosure of detailed information about property, plant and equipment [line items] | ||||||||
Foreign exchange rate | Exchange_Rate | 20.3058 | 20.3060 | ||||||
Percentage of decrease in discount rate | 4.75% | |||||||
Pemex Industrial Transformation | Gas | ||||||||
Disclosure of detailed information about property, plant and equipment [line items] | ||||||||
Foreign exchange rate | Exchange_Rate | 20.3058 | 20.3060 | ||||||
Percentage of decrease in discount rate | 1.40% | |||||||
Increase in products, percentage | 0.0090 | |||||||
Pemex Industrial Transformation | Refined Products | ||||||||
Disclosure of detailed information about property, plant and equipment [line items] | ||||||||
Percentage of decrease in discount rate | 1.49% | |||||||
Pemex Industrial Transformation | Petrochemicals | ||||||||
Disclosure of detailed information about property, plant and equipment [line items] | ||||||||
Foreign exchange rate | Exchange_Rate | 20.3058 | 20.3060 | ||||||
Percentage of decrease in discount rate | 1.19% | |||||||
Pemex Industrial Transformation | Ethylene | ||||||||
Disclosure of detailed information about property, plant and equipment [line items] | ||||||||
Foreign exchange rate | Agreement | 20.3058 | 20.3060 | ||||||
Increase in products, percentage | 0.0054 | |||||||
Pemex Logistics | ||||||||
Disclosure of detailed information about property, plant and equipment [line items] | ||||||||
Reversal of impairment/ (Impairment), net | $ 1,542,908 | $ 328,174 |
Wells, Pipelines, Properties,_8
Wells, Pipelines, Properties, Plant and Equipment, Net - Assumptions to Determine Net Present Value of Reserves Long Lived Assets (Detail) - Pemex Industrial Transformation - MXN ($) | 9 Months Ended | |
Sep. 30, 2022 | Sep. 30, 2021 | |
Disclosure of significant unobservable inputs used in fair value measurement of assets [line items] | ||
Average crude oil price | $ 58,640 | $ 54,990 |
Average gas price | 4,850 | 4,700 |
Average condensates price | $ 64,980 | $ 64,290 |
Discount rate | 7.21% | 5.90% |
Wells, Pipelines, Properties,_9
Wells, Pipelines, Properties, Plant and Equipment, Net - Summary of Values in Use for Cash Generating Units with Impairment or Reversal of Impairment (Details) - MXN ($) $ in Thousands | 9 Months Ended | |
Sep. 30, 2022 | Sep. 30, 2021 | |
Disclosure of detailed information about property, plant and equipment [line items] | ||
Total | $ 274,517,820 | $ 143,179,778 |
Pemex Exploration and Production | ||
Disclosure of detailed information about property, plant and equipment [line items] | ||
Total | 1,205,870,906 | 1,238,150,113 |
Ku-Maloob-Zaap | Pemex Exploration and Production | ||
Disclosure of detailed information about property, plant and equipment [line items] | ||
Total | 675,642,095 | 646,140,977 |
Cuenca de Veracruz | Pemex Exploration and Production | ||
Disclosure of detailed information about property, plant and equipment [line items] | ||
Total | 132,777,887 | 169,460,571 |
Cantarell | Pemex Exploration and Production | ||
Disclosure of detailed information about property, plant and equipment [line items] | ||
Total | 67,092,681 | 142,433,061 |
Chuc | Pemex Exploration and Production | ||
Disclosure of detailed information about property, plant and equipment [line items] | ||
Total | 73,209,192 | 54,633,917 |
Aceite Terciario del golfo | Pemex Exploration and Production | ||
Disclosure of detailed information about property, plant and equipment [line items] | ||
Total | 78,617,964 | 54,019,442 |
Ogarrio Magallanes | Pemex Exploration and Production | ||
Disclosure of detailed information about property, plant and equipment [line items] | ||
Total | 19,056,945 | 29,327,987 |
Antonio J. Bermudez | Pemex Exploration and Production | ||
Disclosure of detailed information about property, plant and equipment [line items] | ||
Total | 22,211,983 | 28,193,558 |
Cactus Sitio Grande | Pemex Exploration and Production | ||
Disclosure of detailed information about property, plant and equipment [line items] | ||
Total | 33,414,483 | 25,684,671 |
Crudo Ligero Marino | Pemex Exploration and Production | ||
Disclosure of detailed information about property, plant and equipment [line items] | ||
Total | 29,084,553 | 21,536,136 |
Tsimin Xux | Pemex Exploration and Production | ||
Disclosure of detailed information about property, plant and equipment [line items] | ||
Total | 25,080,469 | 20,681,792 |
Ixtal - Manik | Pemex Exploration and Production | ||
Disclosure of detailed information about property, plant and equipment [line items] | ||
Total | 19,693,120 | 13,902,514 |
Burgos | Pemex Exploration and Production | ||
Disclosure of detailed information about property, plant and equipment [line items] | ||
Total | 10,303,986 | 9,686,548 |
Poza Rica | Pemex Exploration and Production | ||
Disclosure of detailed information about property, plant and equipment [line items] | ||
Total | 6,767,035 | 8,597,852 |
Tamaulipas constituciones | Pemex Exploration and Production | ||
Disclosure of detailed information about property, plant and equipment [line items] | ||
Total | 6,242,425 | 7,070,363 |
Arenque | Pemex Exploration and Production | ||
Disclosure of detailed information about property, plant and equipment [line items] | ||
Total | 5,931,445 | 5,937,235 |
Cuenca de Macuspana | Pemex Exploration and Production | ||
Disclosure of detailed information about property, plant and equipment [line items] | ||
Total | $ 744,643 | $ 843,489 |
Wells, Pipelines, Properties_10
Wells, Pipelines, Properties, Plant and Equipment, Net - Summary of Net Reversal of Impairment CGUs (Detail) - MXN ($) $ in Thousands | 9 Months Ended | |
Sep. 30, 2022 | Sep. 30, 2021 | |
Disclosure of information for impairment loss recognised or reversed for individual asset or cash-generating unit [line items] | ||
Reversal of impairment | $ 105,668,799 | $ 89,191,280 |
(Impairment) | (48,794,953) | (50,948,816) |
Reversal of impairment | 274,517,820 | 143,179,778 |
Minatitlán Refinery | ||
Disclosure of information for impairment loss recognised or reversed for individual asset or cash-generating unit [line items] | ||
Reversal of impairment | 52,761,544 | 15,396,795 |
Madero Refinery | ||
Disclosure of information for impairment loss recognised or reversed for individual asset or cash-generating unit [line items] | ||
Reversal of impairment | 21,476,184 | 1,635,845 |
Tula Refinery | ||
Disclosure of information for impairment loss recognised or reversed for individual asset or cash-generating unit [line items] | ||
Reversal of impairment | 73,301,942 | 55,499,327 |
New Pemex Gas Processing Complex | ||
Disclosure of information for impairment loss recognised or reversed for individual asset or cash-generating unit [line items] | ||
Reversal of impairment | 27,668,082 | 0 |
Cangrejera Petrochemical Complex | ||
Disclosure of information for impairment loss recognised or reversed for individual asset or cash-generating unit [line items] | ||
Reversal of impairment | 10,207,253 | 9,335,695 |
Pemex Industrial Transformation | ||
Disclosure of information for impairment loss recognised or reversed for individual asset or cash-generating unit [line items] | ||
Reversal of impairment | 66,836,020 | 14,798,584 |
(Impairment) | (23,747,154) | (14,519,968) |
Reversal of impairment | 43,088,866 | 278,616 |
Pemex Industrial Transformation | Minatitlán Refinery | ||
Disclosure of information for impairment loss recognised or reversed for individual asset or cash-generating unit [line items] | ||
Reversal of impairment | 32,753,878 | 4,926,256 |
Pemex Industrial Transformation | Madero Refinery | ||
Disclosure of information for impairment loss recognised or reversed for individual asset or cash-generating unit [line items] | ||
Reversal of impairment | 21,042,822 | 1,344,916 |
(Impairment) | (3,594,516) | (5,861,975) |
Pemex Industrial Transformation | Tula Refinery | ||
Disclosure of information for impairment loss recognised or reversed for individual asset or cash-generating unit [line items] | ||
Reversal of impairment | 9,830,444 | 5,712,131 |
Pemex Industrial Transformation | Cosoleacaque Petrochemical Complex | ||
Disclosure of information for impairment loss recognised or reversed for individual asset or cash-generating unit [line items] | ||
Reversal of impairment | 2,887,875 | 0 |
(Impairment) | (3,278,609) | (1,324,519) |
Pemex Industrial Transformation | Morelos Petrochemical Complex | ||
Disclosure of information for impairment loss recognised or reversed for individual asset or cash-generating unit [line items] | ||
Reversal of impairment | 151,737 | 2,815,281 |
(Impairment) | (7,580,085) | (767,243) |
Pemex Industrial Transformation | New Pemex Gas Processing Complex | ||
Disclosure of information for impairment loss recognised or reversed for individual asset or cash-generating unit [line items] | ||
Reversal of impairment | 137,669 | 0 |
Pemex Industrial Transformation | Pajaritos Ethylene Processor Complex | ||
Disclosure of information for impairment loss recognised or reversed for individual asset or cash-generating unit [line items] | ||
Reversal of impairment | 31,595 | 0 |
Pemex Industrial Transformation | Cangrejera Ethylene Processor Complex | ||
Disclosure of information for impairment loss recognised or reversed for individual asset or cash-generating unit [line items] | ||
(Impairment) | (5,683,409) | 0 |
Pemex Industrial Transformation | Poza Rica Gas Processing Complex | ||
Disclosure of information for impairment loss recognised or reversed for individual asset or cash-generating unit [line items] | ||
(Impairment) | (3,200,227) | 0 |
Pemex Industrial Transformation | Cangrejera Petrochemical Complex | ||
Disclosure of information for impairment loss recognised or reversed for individual asset or cash-generating unit [line items] | ||
(Impairment) | (251,035) | 0 |
Pemex Industrial Transformation | Minatitlán Refinery | ||
Disclosure of information for impairment loss recognised or reversed for individual asset or cash-generating unit [line items] | ||
(Impairment) | $ (159,273) | $ (6,566,231) |
Wells, Pipelines, Properties_11
Wells, Pipelines, Properties, Plant and Equipment, Net - Summary of Value in Use of Long Lived Assets Associated with Cash Generating Units, Net Present Value Cash Flow (Details) - Pemex Industrial Transformation | 3 Months Ended | 9 Months Ended | ||||
Mar. 31, 2022 Exchange_Rate | Mar. 31, 2021 Exchange_Rate | Sep. 30, 2022 MXN ($) Exchange_Rate Agreement | Sep. 30, 2021 MXN ($) Agreement Exchange_Rate | Sep. 30, 2022 USD ($) | Sep. 30, 2021 USD ($) | |
Disclosure of detailed information about property, plant and equipment [line items] | ||||||
Rate of U.S. dollar | 20.5835 | 19.9487 | 20.3058 | 20.3060 | ||
Discount rate | 7.21% | 5.90% | ||||
Average crude oil price | $ | $ 58,640 | $ 54,990 | ||||
Refining | ||||||
Disclosure of detailed information about property, plant and equipment [line items] | ||||||
Rate of U.S. dollar | 20.3058 | 20.3060 | ||||
Estimated useful lives | 12 years | 11 years | ||||
Discount rate | 10.85% | 9.34% | ||||
Processed volume | 889 | 906 | 889 | 906 | ||
Average crude oil price | $ | $ 72.98 | $ 59.10 | ||||
Gas | ||||||
Disclosure of detailed information about property, plant and equipment [line items] | ||||||
Rate of U.S. dollar | 20.3058 | 20.3060 | ||||
Estimated useful lives | 7 years | 7 years | ||||
Discount rate | 10.36% | 10.66% | ||||
Processed volume | 2,061 | 2,161 | 2,061 | 2,161 | ||
Petrochemicals | ||||||
Disclosure of detailed information about property, plant and equipment [line items] | ||||||
Rate of U.S. dollar | 20.3058 | 20.3060 | ||||
Estimated useful lives | 5 years | 6 years | ||||
Discount rate | 8.22% | 8.57% | ||||
Ethylene | ||||||
Disclosure of detailed information about property, plant and equipment [line items] | ||||||
Rate of U.S. dollar | Agreement | 20.3058 | 20.3060 | ||||
Estimated useful lives | 5 years | 5 years | ||||
Discount rate | 8.22% | 8.57% | ||||
Fertilizers | ||||||
Disclosure of detailed information about property, plant and equipment [line items] | ||||||
Rate of U.S. dollar | Agreement | 20.3058 | 20.306 | ||||
Estimated useful lives | 5 years | 5 years | ||||
Discount rate | 10.25% | 10.01% |
Wells, Pipelines, Properties_12
Wells, Pipelines, Properties, Plant and Equipment, Net - Summary of Impairment of Fixed Assets (Detail) - MXN ($) $ in Thousands | 9 Months Ended | |
Sep. 30, 2022 | Sep. 30, 2021 | |
Disclosure of information for impairment loss recognised or reversed for individual asset or cash-generating unit [line items] | ||
Total | $ 274,517,820 | $ 143,179,778 |
Salina Cruz Refinery | ||
Disclosure of information for impairment loss recognised or reversed for individual asset or cash-generating unit [line items] | ||
Total | 88,243,043 | 50,208,309 |
Tula Refinery | ||
Disclosure of information for impairment loss recognised or reversed for individual asset or cash-generating unit [line items] | ||
Total | 73,301,942 | 55,499,327 |
Minatitlán Refinery | ||
Disclosure of information for impairment loss recognised or reversed for individual asset or cash-generating unit [line items] | ||
Total | 52,761,544 | 15,396,795 |
New Pemex Gas Processing Complex | ||
Disclosure of information for impairment loss recognised or reversed for individual asset or cash-generating unit [line items] | ||
Total | 27,668,082 | 0 |
Madero Refinery | ||
Disclosure of information for impairment loss recognised or reversed for individual asset or cash-generating unit [line items] | ||
Total | 21,476,184 | 1,635,845 |
Cangrejera Petrochemical Complex | ||
Disclosure of information for impairment loss recognised or reversed for individual asset or cash-generating unit [line items] | ||
Total | 10,207,253 | 9,335,695 |
Poza Rica Gas Processor Complex | ||
Disclosure of information for impairment loss recognised or reversed for individual asset or cash-generating unit [line items] | ||
Total | 559,754 | 0 |
Cosoleacaque Complex | ||
Disclosure of information for impairment loss recognised or reversed for individual asset or cash-generating unit [line items] | ||
Total | 300,018 | 0 |
Morelos Petrochemical Complex | ||
Disclosure of information for impairment loss recognised or reversed for individual asset or cash-generating unit [line items] | ||
Total | $ 0 | $ 11,103,807 |
Wells, Pipelines, Properties_13
Wells, Pipelines, Properties, Plant and Equipment, Net - Summary of Reversal of Impairment for Cash Generating Units (Detail) - MXN ($) $ in Thousands | 9 Months Ended | |
Sep. 30, 2022 | Sep. 30, 2021 | |
Disclosure of information for impairment loss recognised or reversed for individual asset or cash-generating unit [line items] | ||
Reversal of impairment | $ 105,668,799 | $ 89,191,280 |
Pemex Logistics | ||
Disclosure of information for impairment loss recognised or reversed for individual asset or cash-generating unit [line items] | ||
Reversal of impairment | 1,542,908 | 328,174 |
Pemex Logistics | Construction in progress | ||
Disclosure of information for impairment loss recognised or reversed for individual asset or cash-generating unit [line items] | ||
Reversal of impairment | 1,542,908 | 0 |
Pemex Logistics | Transport (white pipelines) | ||
Disclosure of information for impairment loss recognised or reversed for individual asset or cash-generating unit [line items] | ||
Reversal of impairment | $ 0 | $ 328,174 |
Intangible Assets, Net - Additi
Intangible Assets, Net - Additional Information (Detail) - MXN ($) $ in Thousands | Sep. 30, 2022 | Dec. 31, 2021 |
Disclosure of detailed information about intangible assets [abstract] | ||
Intangible assets | $ 31,466,484 | $ 20,016,146 |
Intangible Assets, Net - Schedu
Intangible Assets, Net - Schedule of Intangible Assets, Net are Wells Unassigned to a Reserve (Detail) - MXN ($) $ in Thousands | 9 Months Ended | 12 Months Ended | |
Sep. 30, 2022 | Sep. 30, 2021 | Dec. 31, 2021 | |
Wells unassigned to a reserve: | |||
Balance at the beginning of the period | $ 20,016,146 | ||
Balances at the end of the period | 31,466,484 | $ 20,016,146 | |
Wells unassigned to a reserve: | |||
Wells unassigned to a reserve: | |||
Balance at the beginning of the period | 18,639,136 | $ 21,435,160 | 21,435,160 |
Additions to construction in progress | 22,076,678 | 15,622,899 | 25,377,983 |
Transfers against expenses | (6,004,297) | (11,663,560) | (12,565,711) |
Transfers against fixed assets | (8,128,832) | (8,423,843) | (15,608,296) |
Balances at the end of the period | $ 26,582,685 | $ 16,970,656 | $ 18,639,136 |
Intangible Assets, Net - Sche_2
Intangible Assets, Net - Schedule of Other Components of Intangible Assets (Detail) - MXN ($) $ in Thousands | 9 Months Ended | 12 Months Ended | |
Sep. 30, 2022 | Sep. 30, 2021 | Dec. 31, 2021 | |
Disclosure of detailed information about intangible assets [line items] | |||
Balance at the beginning of the period | $ 20,016,146 | ||
Amortization accumulated | (253,119) | $ (113,020) | |
Balances at the end of the period | 31,466,484 | $ 20,016,146 | |
Other intangible assets | |||
Disclosure of detailed information about intangible assets [line items] | |||
Balance at the beginning of the period | 1,377,010 | ||
Balances at the end of the period | 4,883,799 | 1,377,010 | |
Other intangible assets | Amortization accumulated | |||
Disclosure of detailed information about intangible assets [line items] | |||
Amortization accumulated | 6,272,560 | 5,727,661 | |
Licenses | Other intangible assets | |||
Disclosure of detailed information about intangible assets [line items] | |||
Balance at the beginning of the period | 5,243,953 | ||
Balances at the end of the period | 9,322,974 | 5,243,953 | |
Exploration expenses, evaluation of assets and concessions | Other intangible assets | |||
Disclosure of detailed information about intangible assets [line items] | |||
Balance at the beginning of the period | 1,860,718 | ||
Balances at the end of the period | $ 1,833,385 | $ 1,860,718 |
Government Bonds, Long-Term N_3
Government Bonds, Long-Term Notes Receivable And Other Assets - Summary of Balance of Government Bonds (Detail) - Government Bonds - MXN ($) $ in Thousands | Sep. 30, 2022 | Dec. 31, 2021 |
Disclosure of notes receivable government bonds and other long term assets [line items] | ||
Government bonds | $ 111,722,004 | $ 110,855,356 |
Less: current portion of Government bonds, net of expected credit losses | 32,126,173 | 1,253,451 |
Total long-term notes receivable | $ 79,595,831 | $ 109,601,905 |
Government Bonds, Long-Term N_4
Government Bonds, Long-Term Notes Receivable And Other Assets - Summary of Balance of Government Bonds (Parenthetical) (Detail) - MXN ($) $ in Thousands | Sep. 30, 2022 | Dec. 31, 2021 |
Government Bonds | ||
Disclosure of notes receivable government bonds and other long term assets [line items] | ||
Expected credit losses | $ 9,688 | $ 13,038 |
Government Bonds, Long-Term N_5
Government Bonds, Long-Term Notes Receivable And Other Assets - Additional Information (Detail) - MXN ($) $ in Thousands | 9 Months Ended | 12 Months Ended | ||
Nov. 20, 2020 | Sep. 30, 2022 | Dec. 31, 2021 | Nov. 19, 2020 | |
Disclosure of notes receivable government bonds and other long term assets [line items] | ||||
Long-term debt, net of current portion | $ 1,712,490,364 | $ 1,757,412,281 | ||
Fair value of the transferred assets | 106,303,973 | 109,124,514 | ||
Non-current loans and receivables | 1,414,291 | 1,646,290 | ||
Value added tax payables | 796,176 | 833,473 | ||
Government Bonds | ||||
Disclosure of notes receivable government bonds and other long term assets [line items] | ||||
Principal amount of debt | 100,362,848 | 83,401,120 | $ 128,786,611 | |
Long-term debt, net of current portion | 101,758,788 | 84,189,749 | $ 95,597,610 | |
Notional amount | 913,482 | |||
Fair value of the transferred assets | 106,303,973 | 109,124,514 | ||
Fair value of associated financial liabilities | 81,655,585 | 83,869,441 | ||
Fair value of transferred financial assets and associated financial liabilities, net | 24,648,388 | 25,255,073 | ||
Interest | 1,395,940 | 788,629 | ||
Government Bonds | Seventeen Series of Development Bonds | ||||
Disclosure of notes receivable government bonds and other long term assets [line items] | ||||
Notional amount | $ 102,492,032 | |||
Maturity | 2023 and 2026 | |||
Government Bonds | Three Year Financing Arrangement | ||||
Disclosure of notes receivable government bonds and other long term assets [line items] | ||||
Notional amount | $ 95,597,610 | |||
Interest rate | 8.56275% | |||
Maturity | November 24, 2023. | |||
Mexican Government | ||||
Disclosure of notes receivable government bonds and other long term assets [line items] | ||||
Interest income | $ 6,215,759 | 7,126,559 | ||
Financing income | Government Bonds | ||||
Disclosure of notes receivable government bonds and other long term assets [line items] | ||||
Interest income | $ 5,425,943 | $ 7,094,180 |
Government Bonds, Long-Term N_6
Government Bonds, Long-Term Notes Receivable And Other Assets - Summary of Roll forward of the Government Bonds (Detail) - Mexican Bonds - Mexican Government - MXN ($) $ in Thousands | 9 Months Ended | 12 Months Ended |
Sep. 30, 2022 | Dec. 31, 2021 | |
Disclosure of Roll Forward Related to the Mexican Bonds [Line Items] | ||
Balance as of the beginning of the period | $ 110,855,356 | $ 129,549,519 |
Government bonds collected | 0 | (15,788,696) |
Accrued interests | 5,425,943 | 7,094,180 |
Interests received from bonds | (6,215,759) | (7,126,559) |
Impact of the valuation of bonds in UDIS | 384,530 | 459,149 |
Amortized cost | 1,268,584 | (3,336,781) |
Reversal (Impairment) of bonds | 3,350 | 4,544 |
Balance at the end of the period | $ 111,722,004 | $ 110,855,356 |
Government Bonds, Long-Term N_7
Government Bonds, Long-Term Notes Receivable And Other Assets - Summary of Other Assets (Detail) - MXN ($) $ in Thousands | Sep. 30, 2022 | Dec. 31, 2021 |
Disclosure Of Notes Receivable And Other Long Term Assets [abstract] | ||
Payments in advance | $ 40,753,991 | $ 35,931,167 |
Other | 2,709,030 | 2,327,872 |
Insurance | 923,696 | 853,891 |
Total other assets | $ 44,386,717 | $ 39,112,930 |
Debt - Additional Information (
Debt - Additional Information (Detail) $ in Thousands | 9 Months Ended | |||||||||||||||||||||||||
Sep. 30, 2022 MXN ($) | Sep. 13, 2022 MXN ($) | Sep. 12, 2022 MXN ($) | Aug. 23, 2022 USD ($) | Aug. 19, 2022 MXN ($) | Jun. 30, 2022 USD ($) | Jun. 17, 2022 USD ($) | Jun. 15, 2022 MXN ($) | May 31, 2022 MXN ($) | May 18, 2022 MXN ($) | Apr. 29, 2022 USD ($) | Apr. 26, 2022 MXN ($) | Apr. 21, 2022 USD ($) | Apr. 18, 2022 MXN ($) | Mar. 31, 2022 USD ($) | Feb. 25, 2022 MXN ($) | Jan. 14, 2022 USD ($) | Sep. 30, 2022 USD ($) | Dec. 07, 2022 USD ($) | Sep. 30, 2022 USD ($) | May 31, 2022 USD ($) | Dec. 31, 2021 MXN ($) | Dec. 31, 2021 USD ($) | Dec. 30, 2021 USD ($) | Nov. 12, 2021 MXN ($) | Nov. 12, 2021 USD ($) | |
Disclosure of debt [line items] | ||||||||||||||||||||||||||
Domestic net debt | $ 27,242,000 | |||||||||||||||||||||||||
External net debt | $ 1,860,000,000 | |||||||||||||||||||||||||
New size of the medium term notes program | $ 112,000,000,000 | |||||||||||||||||||||||||
Prior size of the medium term notes program | $ 125,000,000,000 | |||||||||||||||||||||||||
Principal amount outstanding | $ 1,708,838,766 | $ 1,984,689,000 | $ 2,211,701,630 | |||||||||||||||||||||||
Security | 42.826 | |||||||||||||||||||||||||
Line of credit | $ 7,664,000,000 | |||||||||||||||||||||||||
Outstanding of revolving credit lines | $ 137,737,000 | 151,571,000 | ||||||||||||||||||||||||
Revolving credit facility amount | 1,369,492,000 | |||||||||||||||||||||||||
Repayment of revolving credit lines | $ 1,420,468,000 | |||||||||||||||||||||||||
P.M.I. Holdings, B.V. [member] | ||||||||||||||||||||||||||
Disclosure of debt [line items] | ||||||||||||||||||||||||||
Outstanding of revolving credit lines | $ 202,547,000 | |||||||||||||||||||||||||
Revolving credit facility amount available | $ 87,263,000 | 73,429,000 | ||||||||||||||||||||||||
P.M.I. SUS | ||||||||||||||||||||||||||
Disclosure of debt [line items] | ||||||||||||||||||||||||||
Principal amount outstanding | $ 500,000 | |||||||||||||||||||||||||
Maturity | 2023 | |||||||||||||||||||||||||
P.M.I. SUS | Bottom of range | ||||||||||||||||||||||||||
Disclosure of debt [line items] | ||||||||||||||||||||||||||
Security | 275 | |||||||||||||||||||||||||
P.M.I. SUS | Top of range | ||||||||||||||||||||||||||
Disclosure of debt [line items] | ||||||||||||||||||||||||||
Security | 425 | |||||||||||||||||||||||||
Government Bonds Monetization | ||||||||||||||||||||||||||
Disclosure of debt [line items] | ||||||||||||||||||||||||||
Maturity | February 29, 2024 | |||||||||||||||||||||||||
Revolving credit maximum borrowing capacity | $ 10,000,000 | |||||||||||||||||||||||||
Eight Point Seven Five Zero Percentage Note Due 2029 | ||||||||||||||||||||||||||
Disclosure of debt [line items] | ||||||||||||||||||||||||||
Interest rate | 8.75% | 8.75% | ||||||||||||||||||||||||
Lines Of Credit | ||||||||||||||||||||||||||
Disclosure of debt [line items] | ||||||||||||||||||||||||||
Line of credit | 37,000,000 | |||||||||||||||||||||||||
Available credit lines | $ 26,000,000 | $ 1,150,000,000 | ||||||||||||||||||||||||
Twenty Eighty TLLE Plus 235 Basis Points | Promissory Note | ||||||||||||||||||||||||||
Disclosure of debt [line items] | ||||||||||||||||||||||||||
Maturity | 28 | |||||||||||||||||||||||||
Interest rate basis description | TIIE plus 235 basis points | |||||||||||||||||||||||||
Revolving credit maximum borrowing capacity | $ 250,000 | |||||||||||||||||||||||||
SOFR Floating Rate Plus 245 Basis Points | Credit Line | ||||||||||||||||||||||||||
Disclosure of debt [line items] | ||||||||||||||||||||||||||
Maturity | January 2023 | |||||||||||||||||||||||||
Interest rate basis description | SOFR plus 245 basis points | |||||||||||||||||||||||||
Revolving credit maximum borrowing capacity | $ 75,000,000 | |||||||||||||||||||||||||
Twenty Eight TIIE Plus 315 Basis Points | Renewed Promissory Note | ||||||||||||||||||||||||||
Disclosure of debt [line items] | ||||||||||||||||||||||||||
Maturity | 28 | |||||||||||||||||||||||||
Notes issued | $ 4,000,000 | |||||||||||||||||||||||||
Interest rate basis description | TIIE plus 315 basis points | |||||||||||||||||||||||||
Six Month SOFR Plus 208 Basis Points | Renewed Promissory Note | ||||||||||||||||||||||||||
Disclosure of debt [line items] | ||||||||||||||||||||||||||
Maturity | January 2022 | |||||||||||||||||||||||||
Notes issued | $ 100,000,000 | |||||||||||||||||||||||||
Interest rate basis description | SOFR plus 208 basis points | |||||||||||||||||||||||||
Three Month SOFR Plus 220 Basis Points | Credit Line | ||||||||||||||||||||||||||
Disclosure of debt [line items] | ||||||||||||||||||||||||||
Maturity | 3 | |||||||||||||||||||||||||
Interest rate basis description | SOFR plus 220 basis points | |||||||||||||||||||||||||
Revolving credit maximum borrowing capacity | $ 150,000,000 | |||||||||||||||||||||||||
Three Month SOFR Plus 220 Basis Points | Credit Line | Tranche one | ||||||||||||||||||||||||||
Disclosure of debt [line items] | ||||||||||||||||||||||||||
Notes issued | $ 300,000,000 | |||||||||||||||||||||||||
Twenty Eight TIIE Plus 250 Basis Points | Promissory Note | ||||||||||||||||||||||||||
Disclosure of debt [line items] | ||||||||||||||||||||||||||
Maturity | 28 | |||||||||||||||||||||||||
Interest rate basis description | TIIE plus 250 basis points | |||||||||||||||||||||||||
Revolving credit maximum borrowing capacity | $ 500,000 | |||||||||||||||||||||||||
Twenty Eight TIIE Plus 330 Basis Points | Promissory Note | ||||||||||||||||||||||||||
Disclosure of debt [line items] | ||||||||||||||||||||||||||
Principal amount outstanding | $ 2,000,000 | |||||||||||||||||||||||||
Notes issued | $ 3,000,000 | |||||||||||||||||||||||||
Interest rate basis description | TIIE plus 330 basis points | TIIE plus 330 basis points | ||||||||||||||||||||||||
Twenty Eight TIIE Plus 330 Basis Points | Renewed Promissory Note | ||||||||||||||||||||||||||
Disclosure of debt [line items] | ||||||||||||||||||||||||||
Maturity | 28 | 28 | ||||||||||||||||||||||||
Two Hundred Seventeen SOFR Plus 210 Basis Points | Renewed Short-term Credit | ||||||||||||||||||||||||||
Disclosure of debt [line items] | ||||||||||||||||||||||||||
Principal amount outstanding | $ 500,000,000 | |||||||||||||||||||||||||
Maturity | 217 | |||||||||||||||||||||||||
Interest rate basis description | SOFR plus 210 basis points | |||||||||||||||||||||||||
One Hundred Eighty SOFR Plus 250.826 Basis Points | Renewed Promissory Note | ||||||||||||||||||||||||||
Disclosure of debt [line items] | ||||||||||||||||||||||||||
Principal amount outstanding | $ 150,000,000 | |||||||||||||||||||||||||
Maturity | 180 | |||||||||||||||||||||||||
Interest rate basis description | SOFR plus 250.826 basis points | |||||||||||||||||||||||||
Twenty Eight TIIE Plus 365 Basis Points | Promissory Note | ||||||||||||||||||||||||||
Disclosure of debt [line items] | ||||||||||||||||||||||||||
Principal amount outstanding | $ 5,000,000 | |||||||||||||||||||||||||
Maturity | 28 | |||||||||||||||||||||||||
Interest rate basis description | TIIE plus 365 basis points | |||||||||||||||||||||||||
Borrowings renewal term | 365 days | |||||||||||||||||||||||||
Twenty Eight TIIE Plus 365 Basis Points | Renewed Promissory Note | ||||||||||||||||||||||||||
Disclosure of debt [line items] | ||||||||||||||||||||||||||
Principal amount outstanding | $ 4,000,000 | |||||||||||||||||||||||||
Maturity | 28 | |||||||||||||||||||||||||
Interest rate basis description | TIIE plus 365 basis points | |||||||||||||||||||||||||
One Month SOFR Plus 175 Basis Points | Promissory Note | ||||||||||||||||||||||||||
Disclosure of debt [line items] | ||||||||||||||||||||||||||
Principal amount outstanding | $ 11,362,000 | |||||||||||||||||||||||||
Maturity | one month | |||||||||||||||||||||||||
Interest rate basis description | SOFR plus 175 basis points | |||||||||||||||||||||||||
Borrowings renewal term | 178 days | |||||||||||||||||||||||||
Twenty Eight TIIE Plus 220 Basis Points | Renewed Promissory Note | ||||||||||||||||||||||||||
Disclosure of debt [line items] | ||||||||||||||||||||||||||
Principal amount outstanding | $ 4,000,000 | |||||||||||||||||||||||||
Maturity | 28 | |||||||||||||||||||||||||
Interest rate basis description | TIIE plus 220 basis points | |||||||||||||||||||||||||
Ninety One TIIE Plus 280 Basis Points | Promissory Note | ||||||||||||||||||||||||||
Disclosure of debt [line items] | ||||||||||||||||||||||||||
Borrowings renewal term | 90 days | |||||||||||||||||||||||||
Ninety One TIIE Plus 280 Basis Points | Renewed Promissory Note | ||||||||||||||||||||||||||
Disclosure of debt [line items] | ||||||||||||||||||||||||||
Principal amount outstanding | $ 2,000,000 | |||||||||||||||||||||||||
Maturity | 91 | |||||||||||||||||||||||||
Interest rate basis description | TIIE plus 280 basis points |
Debt - Summary of Detailed Info
Debt - Summary of Detailed Information About Borrowings (Detail) $ in Thousands, $ in Thousands | 9 Months Ended | ||||
Apr. 21, 2022 | Sep. 30, 2022 MXN ($) | Sep. 30, 2022 USD ($) | May 31, 2022 USD ($) | Dec. 31, 2021 MXN ($) | |
Disclosure of debt [line items] | |||||
Security | 42.826 | ||||
Principal amount outstanding | $ 1,708,838,766 | $ 1,984,689 | $ 2,211,701,630 | ||
6.875% Notes due 2025 | |||||
Disclosure of debt [line items] | |||||
Security | 6.875% Notes due 2025 | ||||
Issuer | Petróleos Mexicanos | ||||
Guarantors | Pemex Exploration and Production, Pemex Industrial Transformation and Pemex Logistics | ||||
Principal amount outstanding | $ 901,836 | ||||
6.700% Notes due 2032 | |||||
Disclosure of debt [line items] | |||||
Security | 6.700% Notes due 2032 | ||||
Issuer | Petróleos Mexicanos | ||||
Guarantors | Pemex Exploration and Production, Pemex Industrial Transformation and Pemex Logistics | ||||
Principal amount outstanding | $ 6,779,842 |
Debt - Summary of Changes in Co
Debt - Summary of Changes in Consolidated Debt (Detail) - Financed public works contracts - MXN ($) $ in Thousands | 9 Months Ended | 12 Months Ended | ||
Sep. 30, 2022 | Sep. 30, 2021 | Dec. 31, 2021 | Dec. 31, 2020 | |
Disclosure of debt [line items] | ||||
At the beginning of the period | $ 2,249,695,894 | $ 2,258,727,317 | ||
Loans obtained - financing institutions | $ 760,249,760 | $ 1,058,854,764 | 1,652,151,747 | |
Debt payments | (799,148,919) | (1,027,818,098) | (1,707,581,580) | |
Accrued interest | 110,204,259 | 109,254,054 | 162,903,771 | |
Interest paid | (123,300,926) | (123,430,793) | (157,256,625) | |
Foreign exchange | (64,886,681) | 19,895,393 | 40,751,264 | |
At the end of the period | $ 2,132,813,387 | $ 2,295,482,637 | $ 2,249,695,894 |
Debt - Summary of Changes in _2
Debt - Summary of Changes in Consolidated Debt (Parenthetical) (Detail) - MXN ($) $ in Thousands | 9 Months Ended | 12 Months Ended | |
Sep. 30, 2022 | Sep. 30, 2021 | Dec. 31, 2021 | |
Disclosure of debt [line items] | |||
Debt issue related costs | $ 297,604 | $ 208,088 | $ 3,290,673 |
ExpenseRelatedToDebtIssuanceCost | (355,978) | (337,691) | (2,835,359) |
Amortized cost | $ 4,500,734 | $ 428,452 | 6,226,947 |
Factoring scheme for suppliers | |||
Disclosure of debt [line items] | |||
Estimated financial effect of contingent liabilities | $ 15,934,904 |
Debt - Summary of Foreign Curre
Debt - Summary of Foreign Currency Translation (Detail) - MXN ($) | Sep. 30, 2022 | Dec. 31, 2021 |
U.S. dollar | ||
Disclosure of debt [line items] | ||
Closing foreign exchange rate | $ 20.3058 | $ 20.5835 |
Japanese yen | ||
Disclosure of debt [line items] | ||
Closing foreign exchange rate | 0.1410 | 0.1789 |
Pounds sterling | ||
Disclosure of debt [line items] | ||
Closing foreign exchange rate | 22.1617 | 27.8834 |
Euro | ||
Disclosure of debt [line items] | ||
Closing foreign exchange rate | 19.7839 | 23.4086 |
Swiss francs | ||
Disclosure of debt [line items] | ||
Closing foreign exchange rate | $ 20.8072 | $ 22.5924 |
Provisions for Sundry Credito_3
Provisions for Sundry Creditors - Summary of Provisions for Sundry Creditors and Others (Detail) - MXN ($) $ in Thousands | Sep. 30, 2022 | Dec. 31, 2021 |
Disclosure of other provisions [abstract] | ||
Provision for plugging of wells (see Note 13-C) | $ 73,003,139 | $ 70,144,756 |
Provision for trails in process (see Note 19) | 9,444,409 | 11,114,006 |
Provision for environmental costs | 15,711,986 | 11,138,904 |
Provisions | $ 98,159,534 | $ 92,397,666 |
Equity (Deficit) - Additional I
Equity (Deficit) - Additional Information (Detail) $ in Thousands, $ in Thousands | 1 Months Ended | 3 Months Ended | 9 Months Ended | 12 Months Ended | ||
Jan. 31, 2022 MXN ($) | Mar. 31, 2022 MXN ($) | Sep. 30, 2022 MXN ($) | Sep. 30, 2021 MXN ($) | Dec. 31, 2021 MXN ($) | Sep. 30, 2022 USD ($) | |
Disclosure of equity [line items] | ||||||
Proceeds from FONADIN grants | $ 23,000,000 | $ 23,000,000 | ||||
Net actuarial losses in other comprehensive income (loss) net of deferred income tax | 259,774,823 | $ 241,528,141 | ||||
Post-employment benefit expense, defined benefit plans | $ 17,431,751 | $ (10,468,424) | ||||
Percentage of discount and return on plan asset | 9.98% | 8.46% | 9.98% | |||
Recognized net income | $ 195,615,759 | |||||
Recognized net losses | $ 294,532,168 | |||||
Negative equity amount | 1,598,615,254 | $ 2,170,000,783 | ||||
Negative working capital | $ 464,254,286 | 321,451,205 | ||||
Short- term debt principal maturities | $ 420,323,023 | |||||
Percentage of share profit duty | 40% | 54% | ||||
Total Approved financing for 2022 | $ 65,000,000 | |||||
Approved financing for 2022 | 27,242,000 | $ 1,860,000 | ||||
Gain (loss) on non-controlling interest | (170,624) | $ 128,502 | ||||
Certificates of Contribution “A” | ||||||
Disclosure of equity [line items] | ||||||
Capital contributions received from government towards construction of refinery and payment of debt | 107,990,006 | |||||
Federal budget | ||||||
Disclosure of equity [line items] | ||||||
Negative budget financial balance | 62,750,000 | |||||
Non adjusting event reporting period | ||||||
Disclosure of equity [line items] | ||||||
Mexican government contributions for payment of short term maturities borrowings | 45,437,539 | |||||
Non adjusting event | Deer Park Refining Limited | ||||||
Disclosure of equity [line items] | ||||||
Acquired percentage | 50.005% | |||||
Contributions A | ||||||
Disclosure of equity [line items] | ||||||
Increase in certificates of contribution during period | $ 107,990,006 | $ 316,354,129 |
Equity (Deficit) - Summary of C
Equity (Deficit) - Summary of Certificate of Contribution "A" (Detail) - Contributions A - MXN ($) $ in Thousands | 9 Months Ended | 12 Months Ended |
Sep. 30, 2022 | Dec. 31, 2021 | |
Disclosure of equity [line items] | ||
Certificates of contribution, beginning balance | $ 841,285,576 | $ 524,931,447 |
Increase in certificates of contribution during period | 107,990,006 | 316,354,129 |
Certificates of contribution, ending balance | $ 949,275,582 | $ 841,285,576 |
Equity (Deficit) - Summary of G
Equity (Deficit) - Summary of Government Contributions to Petróleos Mexicanos through the Ministry of Energy (Detail) $ in Thousands | 9 Months Ended |
Sep. 30, 2022 MXN ($) | |
Disclosure of equity [line items] | |
Payment of debt | $ 45,437,539 |
Construction of the Dos Bocas Refinery | 60,900,000 |
Rehabilitation Plan of the refineries | 1,652,467 |
January 21 | |
Disclosure of equity [line items] | |
Payment of debt | 19,321,641 |
Construction of the Dos Bocas Refinery | 7,500,000 |
February 14 | |
Disclosure of equity [line items] | |
Construction of the Dos Bocas Refinery | 7,500,000 |
March 8 | |
Disclosure of equity [line items] | |
Payment of debt | 26,115,898 |
Construction of the Dos Bocas Refinery | 7,500,000 |
April 28 | |
Disclosure of equity [line items] | |
Construction of the Dos Bocas Refinery | 762,100 |
May 26 | |
Disclosure of equity [line items] | |
Construction of the Dos Bocas Refinery | 21,737,900 |
July 29 | |
Disclosure of equity [line items] | |
Rehabilitation Plan of the refineries | 969,342 |
August 19 | |
Disclosure of equity [line items] | |
Construction of the Dos Bocas Refinery | 4,000,000 |
August 30 | |
Disclosure of equity [line items] | |
Construction of the Dos Bocas Refinery | 2,000,000 |
September 6 | |
Disclosure of equity [line items] | |
Rehabilitation Plan of the refineries | 683,125 |
September 8 | |
Disclosure of equity [line items] | |
Construction of the Dos Bocas Refinery | 2,500,000 |
September 14 | |
Disclosure of equity [line items] | |
Construction of the Dos Bocas Refinery | 2,500,000 |
September 22 | |
Disclosure of equity [line items] | |
Construction of the Dos Bocas Refinery | 2,500,000 |
September 28 | |
Disclosure of equity [line items] | |
Construction of the Dos Bocas Refinery | $ 2,400,000 |
Contingencies - Additional Info
Contingencies - Additional Information (Detail) | 9 Months Ended | ||||||||||||
Dec. 17, 2021 MXN ($) | Nov. 24, 2021 USD ($) | Aug. 24, 2021 MXN ($) | Oct. 01, 2020 MXN ($) | Oct. 18, 2019 USD ($) | Apr. 04, 2011 USD ($) | Sep. 30, 2022 MXN ($) | Sep. 30, 2022 USD ($) | Nov. 09, 2022 MXN ($) | Sep. 30, 2022 USD ($) | Dec. 31, 2021 MXN ($) | Dec. 15, 2021 MXN ($) | Nov. 24, 2021 MXN ($) | |
Disclosure of contingent liabilities [line items] | |||||||||||||
Accrued reserve on contingent liabilities | $ 9,444,409 | $ 11,114,006 | |||||||||||
Legal proceedings damage sought by plaintiffs | $ 240,448 | $ 193,713 | |||||||||||
Gains losses on litigation | $ 0 | ||||||||||||
Litigation settlement amount awarded to other party towards accrued default Interests | $ 5,802 | ||||||||||||
Termination Resolution January 14 2019 [Member] | |||||||||||||
Disclosure of contingent liabilities [line items] | |||||||||||||
Accrued reserve on contingent liabilities | $ 51,454 | ||||||||||||
Contingent liability for public works contract | |||||||||||||
Disclosure of contingent liabilities [line items] | |||||||||||||
Legal proceedings damage sought by plaintiffs | $ 137,300 | ||||||||||||
Administrative claim | |||||||||||||
Disclosure of contingent liabilities [line items] | |||||||||||||
Legal proceedings damage sought by plaintiffs | 2,009,598 | ||||||||||||
Administrative claim | Pemex Industrial Transformation | |||||||||||||
Disclosure of contingent liabilities [line items] | |||||||||||||
Legal proceedings damage sought by plaintiffs | $ 14,607 | $ 113,582 | |||||||||||
Tax contingent liability | Pemex Industrial Transformation | |||||||||||||
Disclosure of contingent liabilities [line items] | |||||||||||||
Accrued reserve on contingent liabilities | $ 3,084,975 | ||||||||||||
Tax credit filed for revocation | $ 5,852,222 | ||||||||||||
Tax Credit Imposed | $ 5,852,222 | ||||||||||||
Legal proceedings contingent liability | Against pemex exploration and production | |||||||||||||
Disclosure of contingent liabilities [line items] | |||||||||||||
Legal proceedings damage sought by plaintiffs | 146,000 | ||||||||||||
Legal proceeding claim initial damages sought value | 70,000 | ||||||||||||
Litigation settlement amount awarded to other party towards fixed changes due | 146,114 | ||||||||||||
Litigation settlement amount awarded to other party towards Fees and Expenses of the Arbitration Court | 393 | ||||||||||||
Litigation settlement amount awarded to other party towards Value Added Tax for Legal Fees and Expenses | $ 1,500 | ||||||||||||
Litigation settlement, Amount awarded to other party, Amount of expenses accepted to be reduced | $ 9,000 | ||||||||||||
Notional amount | $ 156,237 |
Subsequent Events - Recent Fina
Subsequent Events - Recent Financing Activities - Additional Information (Detail) $ in Thousands, $ in Thousands | 2 Months Ended | 9 Months Ended | |||||||||||||||||
Nov. 15, 2022 MXN ($) | Nov. 14, 2022 USD ($) | Nov. 09, 2022 USD ($) | Nov. 07, 2022 | Oct. 28, 2022 MXN ($) | Oct. 18, 2022 USD ($) | Oct. 17, 2022 MXN ($) | Oct. 07, 2022 MXN ($) | Sep. 30, 2022 MXN ($) | Aug. 23, 2022 USD ($) | Jun. 30, 2022 USD ($) | Dec. 07, 2022 USD ($) | Sep. 30, 2022 USD ($) | Dec. 07, 2022 MXN ($) | Dec. 07, 2022 USD ($) | Sep. 30, 2022 USD ($) | May 31, 2022 USD ($) | Dec. 31, 2021 MXN ($) | Dec. 31, 2021 USD ($) | |
Disclosure of non-adjusting events after reporting period [line items] | |||||||||||||||||||
Principal amount outstanding | $ 1,708,838,766 | $ 1,984,689 | $ 2,211,701,630 | ||||||||||||||||
Outstanding of revolving credit lines | $ 137,737 | $ 151,571 | |||||||||||||||||
Revolving credit facility amount | 1,369,492 | ||||||||||||||||||
Repayment of revolving credit lines | $ 1,420,468 | ||||||||||||||||||
P.M.I. Holdings, B.V. [member] | |||||||||||||||||||
Disclosure of non-adjusting events after reporting period [line items] | |||||||||||||||||||
Outstanding of revolving credit lines | $ 202,547 | ||||||||||||||||||
Revolving credit facility amount available | 87,263 | 73,429 | |||||||||||||||||
Lines Of Credit | |||||||||||||||||||
Disclosure of non-adjusting events after reporting period [line items] | |||||||||||||||||||
Available credit lines | $ 26,000,000 | 1,150,000 | |||||||||||||||||
Subsequent event | |||||||||||||||||||
Disclosure of non-adjusting events after reporting period [line items] | |||||||||||||||||||
Revolving credit facility amount | 321,059 | ||||||||||||||||||
Repayment of revolving credit lines | $ 334,893 | ||||||||||||||||||
Subsequent event | P.M.I. Holdings, B.V. [member] | |||||||||||||||||||
Disclosure of non-adjusting events after reporting period [line items] | |||||||||||||||||||
Outstanding of revolving credit lines | $ 29,500,000 | 7,664,000 | $ 151,571 | ||||||||||||||||
Subsequent event | Lines Of Credit | |||||||||||||||||||
Disclosure of non-adjusting events after reporting period [line items] | |||||||||||||||||||
Available credit lines | $ 10,500,000 | $ 185,000 | |||||||||||||||||
Twenty Eight Days TIIE Plus 195 Basis Point | Subsequent event | Promissory Note | |||||||||||||||||||
Disclosure of non-adjusting events after reporting period [line items] | |||||||||||||||||||
Maturity | 180 | 180 | |||||||||||||||||
Interest rate basis description | TIIE plus 195 basis points | TIIE plus 195 basis points | |||||||||||||||||
Revolving credit maximum borrowing capacity | $ 1,000 | $ 1,500,000 | |||||||||||||||||
Borrowings, basis spread on variable rate | 2,800% | 2,800% | |||||||||||||||||
One Month SOFR Plus 175 Basis Points | Promissory Note | |||||||||||||||||||
Disclosure of non-adjusting events after reporting period [line items] | |||||||||||||||||||
Maturity | one month | ||||||||||||||||||
Interest rate basis description | SOFR plus 175 basis points | ||||||||||||||||||
Principal amount outstanding | $ 11,362 | ||||||||||||||||||
Borrowings renewal term | 178 days | ||||||||||||||||||
One Month SOFR Plus 175 Basis Points | Subsequent event | Promissory Note | |||||||||||||||||||
Disclosure of non-adjusting events after reporting period [line items] | |||||||||||||||||||
Principal amount outstanding | $ 75 | ||||||||||||||||||
Ninety One TIIE Plus 280 Basis Points | Promissory Note | |||||||||||||||||||
Disclosure of non-adjusting events after reporting period [line items] | |||||||||||||||||||
Borrowings renewal term | 90 days | ||||||||||||||||||
Ninety One TIIE Plus 280 Basis Points | Renewed Promissory Note | |||||||||||||||||||
Disclosure of non-adjusting events after reporting period [line items] | |||||||||||||||||||
Maturity | 91 | ||||||||||||||||||
Interest rate basis description | TIIE plus 280 basis points | ||||||||||||||||||
Principal amount outstanding | $ 2,000,000 | ||||||||||||||||||
Ninety One TIIE Plus 280 Basis Points | Subsequent event | Promissory Note | |||||||||||||||||||
Disclosure of non-adjusting events after reporting period [line items] | |||||||||||||||||||
Maturity | 70 | ||||||||||||||||||
One Hundred Eighty SOFR Plus 250.826 Basis Points | Renewed Promissory Note | |||||||||||||||||||
Disclosure of non-adjusting events after reporting period [line items] | |||||||||||||||||||
Maturity | 180 | ||||||||||||||||||
Interest rate basis description | SOFR plus 250.826 basis points | ||||||||||||||||||
Principal amount outstanding | $ 150,000 | ||||||||||||||||||
One Hundred Eighty SOFR Plus 250.826 Basis Points | Subsequent event | Promissory Note | |||||||||||||||||||
Disclosure of non-adjusting events after reporting period [line items] | |||||||||||||||||||
Interest rate basis description | SOFR plus 251 basis points | ||||||||||||||||||
Borrowings, basis spread on variable rate | 300% | ||||||||||||||||||
Twenty Eight Days TIIE Plus 225 Basis Point | Subsequent event | Promissory Note | |||||||||||||||||||
Disclosure of non-adjusting events after reporting period [line items] | |||||||||||||||||||
Interest rate basis description | TIIE plus 225 basis points | ||||||||||||||||||
Revolving credit maximum borrowing capacity | $ 500 | ||||||||||||||||||
Borrowings, basis spread on variable rate | 2,800% | ||||||||||||||||||
Twenty Eight Days TIIE Plus 235 Basis Point | Subsequent event | Promissory Note | |||||||||||||||||||
Disclosure of non-adjusting events after reporting period [line items] | |||||||||||||||||||
Interest rate basis description | TIIE plus 235 basis points | ||||||||||||||||||
Revolving credit maximum borrowing capacity | $ 5,000 | ||||||||||||||||||
Borrowings, basis spread on variable rate | 2,800% | ||||||||||||||||||
Twenty Eight Days TIIE Plus 280 Basis Point | Subsequent event | Promissory Note | |||||||||||||||||||
Disclosure of non-adjusting events after reporting period [line items] | |||||||||||||||||||
Interest rate basis description | TIIE plus 280 basis points | ||||||||||||||||||
Revolving credit maximum borrowing capacity | $ 1,300 | ||||||||||||||||||
Borrowings, basis spread on variable rate | 9,100% | ||||||||||||||||||
Twenty Eight Days TIIE Plus 350 Basis Points | Subsequent event | Credit Line | |||||||||||||||||||
Disclosure of non-adjusting events after reporting period [line items] | |||||||||||||||||||
Interest rate basis description | TIIE plus 350 basis points | ||||||||||||||||||
Revolving credit maximum borrowing capacity | $ 20,500 | ||||||||||||||||||
Borrowings, basis spread on variable rate | 2,800% |
Subsequent Events - Additional
Subsequent Events - Additional Information (Detail) $ in Thousands, $ in Thousands | 9 Months Ended | |||||
Aug. 31, 2022 MXN ($) Exchange_Rate $ / bbl | Sep. 30, 2022 MXN ($) Exchange_Rate $ / bbl | Dec. 07, 2022 USD ($) | Sep. 30, 2022 USD ($) Exchange_Rate | May 31, 2022 USD ($) | Dec. 31, 2021 MXN ($) | |
Disclosure of non-adjusting events after reporting period [line items] | ||||||
Principal amount outstanding | $ 1,708,838,766 | $ 1,984,689 | $ 2,211,701,630 | |||
Outstanding of revolving credit lines | $ 137,737 | $ 151,571 | ||||
Closing foreign exchange rate | Exchange_Rate | 19.7567 | 20.3058 | 20.3058 | |||
Appreciation of the value of the peso in U.S. dollars terms | 2.70% | |||||
U.S | ||||||
Disclosure of non-adjusting events after reporting period [line items] | ||||||
Foreign currency exchange rate loss | $ 48,510,062 | |||||
Crude oil price movement | ||||||
Disclosure of non-adjusting events after reporting period [line items] | ||||||
Average prices of crude oil exports | $ / bbl | 61.86 | 77.16 | ||||
Percetnage of increase in crude oil price | 19.80% | |||||
Advance payments received for the Future sale of turbosine | ||||||
Disclosure of non-adjusting events after reporting period [line items] | ||||||
Advances received | $ 17,590,055 | $ 306,570 |
Subsequent Events - Summary of
Subsequent Events - Summary of Government Contributions to Petróleos Mexicanos through the Ministry of Energy (Details) - MXN ($) $ in Thousands | 1 Months Ended | 9 Months Ended |
Oct. 21, 2022 | Sep. 30, 2022 | |
Disclosure of non-adjusting events after reporting period [line items] | ||
Rehabilitation Plan of the refineries | $ 1,652,467 | |
Subsequent event | Petroleos Mexicanos | ||
Disclosure of non-adjusting events after reporting period [line items] | ||
Contributions for the construction of the Dos Bocas Refinery | $ 24,800 | |
Rehabilitation Plan of the refineries | 4,316,712 | |
Subsequent event | Petroleos Mexicanos | October 4 | ||
Disclosure of non-adjusting events after reporting period [line items] | ||
Rehabilitation Plan of the refineries | 1,618,523 | |
Subsequent event | Petroleos Mexicanos | October 6 | ||
Disclosure of non-adjusting events after reporting period [line items] | ||
Contributions for the construction of the Dos Bocas Refinery | 2,500 | |
Subsequent event | Petroleos Mexicanos | October 13 | ||
Disclosure of non-adjusting events after reporting period [line items] | ||
Contributions for the construction of the Dos Bocas Refinery | 2,500 | |
Subsequent event | Petroleos Mexicanos | October 20 | ||
Disclosure of non-adjusting events after reporting period [line items] | ||
Contributions for the construction of the Dos Bocas Refinery | 2,500 | |
Subsequent event | Petroleos Mexicanos | October 28 | ||
Disclosure of non-adjusting events after reporting period [line items] | ||
Contributions for the construction of the Dos Bocas Refinery | 2,500 | |
Subsequent event | Petroleos Mexicanos | November 4 | ||
Disclosure of non-adjusting events after reporting period [line items] | ||
Contributions for the construction of the Dos Bocas Refinery | 2,500 | |
Subsequent event | Petroleos Mexicanos | November 7 | ||
Disclosure of non-adjusting events after reporting period [line items] | ||
Rehabilitation Plan of the refineries | 1,805,296 | |
Subsequent event | Petroleos Mexicanos | November 10 | ||
Disclosure of non-adjusting events after reporting period [line items] | ||
Contributions for the construction of the Dos Bocas Refinery | 2,500 | |
Subsequent event | Petroleos Mexicanos | November 17 | ||
Disclosure of non-adjusting events after reporting period [line items] | ||
Contributions for the construction of the Dos Bocas Refinery | 2,500 | |
Subsequent event | Petroleos Mexicanos | November 25 | ||
Disclosure of non-adjusting events after reporting period [line items] | ||
Contributions for the construction of the Dos Bocas Refinery | 2,500 | |
Rehabilitation Plan of the refineries | 892,893 | |
Subsequent event | Petroleos Mexicanos | December 1 | ||
Disclosure of non-adjusting events after reporting period [line items] | ||
Contributions for the construction of the Dos Bocas Refinery | 4,000 | |
Subsequent event | Petroleos Mexicanos | December 2 | ||
Disclosure of non-adjusting events after reporting period [line items] | ||
Contributions for the construction of the Dos Bocas Refinery | $ 800 |
Uncategorized Items - ck0000932
Label | Element | Value |
Pemex Industrial Transformation [member] | ||
Disclosure of significant unobservable inputs used in fair value measurement of assets [text block] | ifrs-full_DisclosureOfSignificantUnobservableInputsUsedInFairValueMeasurementOfAssetsExplanatory | 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 September 30, 2022 2021 2022 2021 2022 2021 2022 2021 2022 2021 Refining Gas Petrochemicals Ethylene ** Fertilizers Average crude oil Price US$72.98 US$59.10 N.A. N.A. N.A. N.A. Processed volume (i) 889 Mbd 906 Mbd 2,061 mmpcd 2,161 mmpcd 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. dollar 20.3058 20.3060 20.3058 20.3060 20.3058 20.3060 20.3058 20.3060 20.3058 20.306 Useful lives of the cash-generating units (year average) 12 11 7 7 5 6 5 5 5 5 Discount rate 10.85% 9.34% 10.36% 10.66% 8.22% 8.57% 8.22% 8.57% 10.25% 10.01% Period * 2022-2033 2022-2028 2022-2026 2022-2026 2022-2026 * The first 5 years are projected and stabilize at year 6. ** This entity was merged into Pemex Industrial Transformation on July 1, 2019. (i) Average of the first 4 years. N.A. Non-applicable |
Pemex Exploration And Production [member] | ||
Disclosure Of Impairment Loss And Reversal Of Impairment Loss For CGUs [Text Block] | ck0000932782_DisclosureOfImpairmentLossAndReversalOfImpairmentLossForCGUsTextBlock | As of September 30, 2022 and 2021, values in use for CGU with impairment or reversal of impairment are: 2022 2021 Ku-Maloob-Zaap Ps. 675,642,095 Ps. 646,140,977 Cuenca de Veracruz 132,777,887 169,460,571 Cantarell 67,092,681 142,433,061 Chuc 73,209,192 54,633,917 Aceite Terciario del golfo 78,617,964 54,019,442 Ogarrio Magallanes 19,056,945 29,327,987 Antonio J. Bermudez 22,211,983 28,193,558 Cactus Sitio Grande 33,414,483 25,684,671 Crudo Ligero Marino 29,084,553 21,536,136 Tsimin Xux 25,080,469 20,681,792 Ixtal - Manik 19,693,120 13,902,514 Burgos 10,303,986 9,686,548 Poza Rica 6,767,035 8,597,852 Tamaulipas constituciones 6,242,425 7,070,363 Arenque 5,931,445 5,937,235 Cuenca de Macuspana 744,643 843,489 Total Ps. 1,205,870,906 Ps. 1,238,150,113 |
Deer Park [Member] | ||
Disclosure of detailed information about business combination [text block] | ifrs-full_DisclosureOfDetailedInformationAboutBusinessCombinationsExplanatory | PEMEX’s purchase of control of Deer Park, through the 50.005% interest owned by Shell, included the following: Cash paid to Shell Ps. 8,597,743 U.S.$ 421,396 Payment of debt to third parties 18,289,066 896,391 Payment of DPRLP’s debt to company partners 3,496,054 171,350 Total consideration paid in cash Ps. 30,382,863 U.S.$ 1,489,137 Settlement of pre-existing relationship 6,663,803 326,609 Total consideration paid in cash and settlement of pre-existing relationship Ps. 37,046,666 U.S.$ 1,815,746 At the acquisition date, considering the amount of the value of the net assets and the consideration transferred, a gain at a bargain purchase was determined as follows: Total consideration transferred Ps. 37,046,666 U.S.$ 1,815,746 Fair value of the identifiable net assets acquired (38,317,854) (1,878,050) Gain on bargain purchase Ps. (1,271,188) U.S.$ (62,304) |