Exhibit 12.2

PETRÓLEOS MEXICANOS, SUBSIDIARY ENTITIES AND SUBSIDIARY COMPANIES

Computation of ratio of earnings to fixed charges

(In thousands of Mexican pesos)

	September 30, 2015			September 30, 2014
IFRS
Fixed Charges:
Interest capitalized in fixed assets		4,328,772			2,871,889
Interest expense		74,572,168			46,357,527
Amortization premiums related to indebtedness		(2,100,571	)		121,631
Estimate of the interest within rental expense		332,720			178,691
Total Fixed Charges		77,133,089			49,529,738
Net (loss)		(352,810,246	)		(147,966,387	)
Hydrocarbon Income Tax (IRP)		—			2,927,770
Income tax and others		9,823,396			2,043,709
Profit sharing in subsidiaries and affiliates (income from equity investees)		(2,156,071	)		(1,094,929	)
Pretax income from continuing operations before income from equity investees		(345,142,921	)		(144,899,837	)
Fixed Charges:		77,133,089			49,529,738
Amortization of interest capitalized		173,151			114,876
Distributed income of equity investees		171,451			504,396
Interest capitalized in fixed assets		(4,328,772	)		(2,871,889	)
Earnings		(271,994,002	)		(97,622,716	)
Amount by which fixed charges exceed earnings		349,127,091			147,152,454
Ratio of earnings to fixed charges		—			—