July 12, 2014 10:46 PM ET

Oil, Gas and Consumable Fuels

Company Overview of Petroleos Mexicanos

Company Overview

Petróleos Mexicanos, together with its subsidiaries, is engaged in the exploration, exploitation, refining, transportation, storage, distribution, and sale of crude oil, natural gas, and derivatives of petroleum and natural gas in Mexico. It operates through Exploration and Production, Refining, Gas and Basic Petrochemicals, Petrochemicals, and International Trading segments. The Exploration and Production segment explores for and produces crude oil and natural gas, primarily in the northeastern and southeastern regions of Mexico and offshore in the Gulf of Mexico. The Refining segment converts crude oil into gasoline, jet fuel, diesel, fuel oil, asphalts, and lubricants; and distributes and...

Avenida Marina Nacional No. 329

Colonia Petróleos Mexicanos

Mexico, DF 11311

Mexico

Founded in 1938

153,048 Employees

Phone:

52 55 1944 9700

Key Executives for Petroleos Mexicanos

Chief Executive Officer
Age: 40
Chief Financial Officer and Corporate Director of Finance
Age: 50
Corporate Director of Operations
Age: 49
Chief Executive Officer of Pemex Refinacion
Director General of Pemex-Gas and Basic Petrochemicals
Age: 58
Compensation as of Fiscal Year 2014.

Petroleos Mexicanos Key Developments

Petroleos Mexicanos Announces Successful Results of Consent Solicitations

Petroleos Mexicanos announced the successful completion of its consent solicitations for debt securities with an aggregate principal amount outstanding of approximately $40.3 billion. Consents were obtained from holders of the requisite aggregate principal amount of each series of the outstanding debt securities for which consents were solicited pursuant to Petróleos Mexicanos consent solicitation statement dated as of June 3, 2014 and Pemex Finance Ltd.'s consent solicitation statement dated as of June 3, 2014 Each of Petroleos Mexicanos and Pemex Finance solicited consents to amend each instrument governing the debt securities described above to align it with proposed changes in Mexican law resulting from reforms to the Mexican energy sector that are expected to be implemented in the near future. The consent solicitations expired at 5:00 p.m. (New York City time) on June 18, 2014. Because the requisite consents have been received for the debt securities described above, holders of these securities may not revoke their consents. Any holder of these securities whose validly delivered consent was accepted prior to the Expiration Time will receive a consent fee equal to 0.15% of the principal amount of the series of securities held by such holder, which each of Petroleos Mexicanos and Pemex Finance expects to be paid on June 24, 2014. Petroleos Mexicanos' separate consent solicitation in respect of its 6.375% Guaranteed Notes due 2016, which are governed by an English-law trust deed, will remain open until the meeting to be held in respect thereof on June 25, 2014, as described in Petroleos Mexicanos' consent solicitation memorandum dated as of June 3, 2014 (the Pemex consent solicitation memorandum). Voting instructions by proxy in respect of that consent solicitation must be delivered not later than 24 hours before the meeting. Each of the consent solicitations is conditioned, among other things, on receipt by Petroleos Mexicanos or Pemex Finance, as the case may be, at or prior to the applicable expiration time, of the requisite majority in aggregate principal amount of each other series of debt securities for which Petróleos Mexicanos and Pemex Finance, respectively, have solicited consents (cross-consents condition). Petróleos Mexicanos and Pemex Finance are each waiving the cross-consents condition with respect to each of the consent solicitations. Promptly following the expiration time, Petroleos Mexicanos and the trustee or the fiscal agent, as the case may be, under the instruments governing each series of debt securities for which consents were solicited pursuant to the Pemex consent solicitation statement will execute supplements to the instruments governing such securities and Pemex Finance and the other parties to the transaction documents (as defined in Pemex Finance's consent solicitation statement) will execute amendments thereto, in each case in order to effect the proposed amendment with respect to each consent solicitation.

Petroleos Mexicanos Reports Unaudited Consolidated Earnings Results for the First Quarter Ended March 31, 2014

Petroleos Mexicanos reported unaudited consolidated earnings results for the first quarter ended March 31, 2014. For the period, the company reported total sales of MXN 406,934 million against MXN 396,254 million a year ago. Operating income was MXN 181,169 million against MXN 201,517 million a year ago. Income before taxes, duties and other was MXN 174,152 million against MXN 219,786 million a year ago. Net loss for the period was MXN 35,953 million against MXN 4,388 million a year ago. Domestic sales increased by 7.9% primarily due to increases in the sales prices of gasoline, diesel and propylene, and an increase in demand from the electricity generation sector. This increase in net loss during the first three months of 2014 is primarily explained by: the foreign exchange loss caused by the depreciation of the peso against the U.S. dollar during this period as compared to the exchange gain recorded in the first three months of 2013; a decrease in other revenues and expenses, net, due primarily to a lower credit attributable to the negative IEPS tax rate; a decrease in export sales mainly due to a 10.3% decrease in the price of the Mexican crude oil basket; and an increase in cost of sales and general expenses. These decreases were only partially offset by the increase in domestic sales. Net cash used in operating activities was MXN 18,923,491,000 against net cash generated from operating activities of MXN 48,816,288,000 a year ago. Acquisition of wells, pipelines, properties, plant and equipment was MXN 36,070,110,000 against MXN 47,622,025,000 a year ago.

Petroleos Mexicanos Presents at UBS Global Oil and Gas Conference, May-22-2014 11:20 AM

Petroleos Mexicanos Presents at UBS Global Oil and Gas Conference, May-22-2014 11:20 AM. Venue: Four Seasons Hotel Austin, 98 San Jacinto Boulevard, Austin, Texas, United States. Speakers: Celina Torres, Deputy Manager of Investor Relations, David Ocanas, Deputy Manager of Investor Relations.

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