Infrastructure Portfolio 2010

November 19, 2009

Forward-Looking Statements

Thi t ti t i f d l ki t t t W l k itt l f d l ki t t t This presentation contains forward-looking statements. We may also make written or oral forward-looking statements in our periodic reports to the Mexican National Banking and Securities Commission (CNBV) and the U.S. Securities and Exchange Commission (SEC), in our annual report, in our proxy statements, in our offering circulars and prospectuses, in press releases and other written materials and in oral statements made by our officers, directors or employees to third parties.

We may include forward-looking statements that address, among other things, our: We may include forward looking statements that address, among other things, our:

drilling and exploration activities,

import and export activities,

projected and targeted capital expenditures and other costs, commitments and revenues; and liquidity, etc.

Actual results could differ materially from those projected in such forward-looking statements as a result of various factors that may be beyond our control. These factors include, but are not limited to:

changes in international crude oil and natural gas prices,

effects on us from competition,

li it ti t f fi i titi tlimitations on our access to sources of financing on competitive terms,

significant economic or political developments in Mexico,

developments affecting the energy sector, and

changes in our regulatory environment.

A di l h ld t l d li th f d l ki t t t I t th t t t Accordingly, you should not place undue reliance on these forward-looking statements. In any event, these statements speak only as of their dates, and we undertake no obligation to update or revise any of them, whether as a result of new information, future events or otherwise.

These risks and uncertainties are more fully detailed in our most recent prospectus filed with the CNBV and available through the Mexican Stock Exchange (www.bmv.com.mx) and the Form 20-F filing, as amended, with the SEC (www.sec.gov). These factors could cause actual results to differ materially from those contained in any forward-(www.sec.gov). These factors could cause actual results to differ materially from those contained in any forwardlooking statement.

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Cautionary Note

The SEC permits oil and gas companies, in their filings with the SEC, to disclose only proved reserves that a company has demonstrated by actual production or conclusive formation tests to be economically and legally producible under existing economic and operating conditions. We use certain terms in this document, such as total reserves, probable reserves and possible reserves, that the SEC's guidelines strictly prohibit us from including in filings with the SEC. Investors are urged to consider closely the disclosure in our Form 20-F, “File No. 0-99” available from us at www.pemex.com or Marina Nacional 329 Floor 38 Col. Huasteca, Mexico City 11311 or at (52 55) 1944 9700. You can also obtain this Form from the SEC by calling 1-800-SEC-0330.

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Contents

1 Introduction1. Introduction

2. Main Infrastructure Portfolio 2010

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PEMEX Operates Through Four Subsidiary Entities and a Trading Division

Activities

Exploration and exploitation of crude oil and natural gas resources. The main objectives are to: 1) sustain current production levels; 2) increase the replacement rate of proved and total reserves and; 3) improve performance in terms of industrial

Exploration and Production

security and environmental protection in a socially responsible way.

Convert crude oil into refined products (gasoline, jet fuel, diesel, fuel oil, asphalts, lubricants, etc.).Distribute and commercialize these products throughout Mexico

Production

Refining Distribute and commercialize these products throughout Mexico.

Process wet gas onshore, in order to obtain dry natural gas, LPG and other natural gas liquids.Transport, distribute and commercialize natural gas and LPG throughout Mexico, as

Gas and Basic Petrochemicals

well as several petrochemical feedstocks.

Manufacture petrochemicals products including methane derivatives, ethane derivatives, aromatics, propylene and its derivatives, as ell as other products such as oxygen and nitrogen among others.

Petrochemicals

Manage import and export operations for crude oil, petroleum products and petrochemicals in world markets.Provide independent customers with international trading, distribution and related services.

International Trading

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Source: Petróleos Mexicanos 2008 Form 20-F.

Overall Investment

2003-2009, billions of pesos

263 4

170 1

201.9

251.2263.4

113.7122.9 127

150.4

170.1

Billions of dollars

10.7 10.9 10.8 13.8 15.6 18.1 18.1 18.2

2003 2004 2005 2006 2007 2008 2009 E 2010 E

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Average exchange rate January-December for 2003 to 2008, January-September for 2009.

Preliminary Investment Budget 2010

Billions of dollars PercentageInvestment Budget 2010 Billions of dollars PercentageExploration and Production (PEP)

15.2  84%Refining (REF)

2.2  12%

Investment Budget 2010

Gas and Basic Petrochemicals (PGBP)0.4  2%

Petrochemicals (PPQ)

0.3  2%Corporate (CORP)

0 1 0%

PEMEX has a variety of long-term investment projects across different business lines.

Th i t t j t 0.1  0%Total 18.2  100%

The investment projects are classified as follows:

Regulatory,Safety and environmental protection,

PEP REF PGBP PPQ CORP

p ,Maintenance,Efficiency and optimization,Growth,Supporting activities.84%

12%

2%2%0%

7

0%Note: Does not include third-party projects (private pipelines, co-generation).Source: Federal Budget Proposal.

As a result of the Energy Reform PEMEX has become stronger The key changes contemplated in the reform

Energy Reform

As a result of the Energy Reform PEMEX has become stronger. The key changes contemplated in the reform were:

PEMEX’s legal framework, Corporate governance, and Procurement and contracting regime.

Essentially, the energy reform strengthens execution capabilities through:

PEMEX Energy Reform

New Procurement and Contracting Financial Corporate New Procurement and Contracting Mechanism

PEMEX’s board to establish the guidelines for the contracting and acquisition of goods and services in

Financial Flexibility

PEMEX will have greater financial flexibility through:

The gradual increase of

PEMEX is able to make better decisions through the implementation of best

Corporate Governance

acquisition of goods and services in relation to its core business activities.PEMEX is able to offer contractors cash compensations, which provide benefits through technological ad ances fast e ec tion and/or

The gradual increase of budget-allocation autonomy.The strengthening of accountability by the issuance of citizen bonds and the release of ne reports

implementation of best practices in corporate governance:

Incorporation of four new professional members in th B d f Di tadvances, fast execution and/or

greater returns. It is possible to align contractors’ and PEMEX’s interests, reallocate resources currently used to manage

t t d t d i

the release of new reports. The decrease of the fiscal burden.

the Board of Directors.Creation of executive committees to support the Board.

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contracts, reduce costs and improve time frames for projects.

Contracting Scheme for Core Businesses

Core businesses contracting will have additional flexibility(1)

In accordance with best practices in the oil industry;M difi i ill b ll d f i i l

Flexible procurement and contracting

Modifications will be allowed for improving results;Prices can be negotiated and participants may be pre-qualified;Direct awards or restricted group biddings.

The Committee of Acquisitions, Lease and Services will implement policies and oversee the process.q p p p

Contracts with performance incentives

PEMEX can offer cash incentives to contractors that provide benefits from new technologies, faster execution or greater profit.greater profit.

No ownership rights over hydrocarbons will be granted.

Companies are to be penalized for not meeting targets or for committing environmental violations.

Schemes to support suppliers and contractors

PEMEX will design a program to increase national content by 25%.

NAFIN (Development Banking Institution) will create a program to fund, develop and promote PEMEX’s domestic contractors The resources (Ps 7 5 billion) will be provided by PEMEX and the Federal Government

(1) As compared to the current Acquisition, Leasing and Services of Public Sector Law and Public Works and Related Services Law.

contractors. The resources (Ps. 7.5 billion) will be provided by PEMEX and the Federal Government.

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Contents

1 Introduction1. Introduction

2. Main Infrastructure Portfolio 2010

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Exploration and ProductionInfrastructure Portfolio 2010

Lease Offshore Drilling Rigs (1,770 million dollars)

Pipeline Maintenance: Pol A - Nohoch A - Atasta - Cd. Pemex (1,170 million dollars)

Well Drilling Contracts South Division (1,019 million dollars)

Well Drilling Contracts North Division (842 million dollars)

Offshore Drilling Rigs (600 million dollars)

Heavy Crude Oil in Dos Bocas, Tabasco (378 million dollars)

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Exploration and ProductionInfrastructure Portfolio 2010

Pipeline Extension: Dos Bocas Marine Terminal -Tuzandepetl & Palomas (360 million dollars)

Lease Land Drilling Rigs South Division (274 million dollars)

Transportation to Offshore Facilities (5 Bids) (250 million dollars)

Building 35 Facilities in the South Region (237 million dollars)

Lease Land Drilling Rigs North Division (232 million dollars)

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RefiningInfrastructure Portfolio 2010

R fi i g C it E i (9 000 illi d ll )Refining Capacity Expansion (9,000 million dollars).

Diesel Phase of the Clean Fuel Project (4,900 million dollars).

Salamanca Refinery Reconfiguration (2,600 million dollars).y g ( , )

Refinery Maintenance Program (400 to 600 million dollars).

Reforming Unit in Minatitlán (135 million dollars).

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Gas and Basic PetrochemicalInfrastructure Portfolio 2010

Tamazunchale –San Luis de la Paz –San José Iturbide Natural Gas Pipeline Project (632 million dollars).

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Investor Relations(+52 55) 1944 - 9700( )ri@dcf.pemex.com

www.pemex.com