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, 2016			September 30, 2017
IFRS
Fixed Charges:
Interest capitalized in fixed assets		2,937,578			2,552,978
Interest expense		78,980,462			87,676,245
Amortization premiums related to indebtedness		(876,030	)		(2,160,423	)
Estimate of the interest within rental expense		664,414			1,352,043
Total Fixed Charges		81,706,424			89,420,842
Net (loss) income		(263,802,006	)		18,908,022
Income Tax and Others		10,632,542			4,940,190
Profit sharing in subsidiaries and affiliates (income from equity investees)		(733,558	)		(112,068	)
Pretax income from continuing operations before income from equity investees		(253,903,022	)		23,736,144
Fixed Charges:		81,706,424			89,420,842
Amortization of interest capitalized		117,503			102,119
Distributed income of investment shares		128,051			171,451
Interest capitalized in fixed assets		(2,937,578	)		(2,552,978	)
Earnings		(174,888,622	)		110,877,579
Amount by which fixed charges exceed earnings		256,595,046			—
Ratio of earnings to fixed charges		—			1.24