Exhibit 12.2

PETRÓLEOS MEXICANOS, SUBSIDIARY ENTITIES AND SUBSIDIARY COMPANIES

Computation of ratio of earnings to fixed charges

(In thousands of Mexican pesos)

	June 30, 2016			June 30, 2017
IFRS
Fixed Charges:
Interest capitalized in fixed assets		2,094,222			1,890,312
Interest expense		54,056,779			57,029,082
Amortization premiums related to indebtedness		(1,362,242	)		(1,915,681	)
Estimate of the interest within rental expense		302,208			929,266
Total Fixed Charges		55,090,967			57,932,979
Net income (loss)		(145,478,673	)		120,715,749
Income Tax and Others		5,078,873			6,853,632
Profit sharing in subsidiaries and affiliates (income from equity investees)		711,162			(874,954	)
Pretax income from continuing operations before income from equity investees		(139,688,638	)		126,694,427
Fixed Charges:		55,090,967			57,932,979
Amortization of interest capitalized		83,769			75,612
Distributed income of investment shares		128,051			193,731
Interest capitalized in fixed assets		(2,094,222	)		(1,890,312	)
Earnings		(86,480,073	)		183,006,437
Amount by which fixed charges exceed earnings		141,571,040			(125,073,459	)
Ratio of earnings to fixed charges		(1.57	)		3.16