Exhibit 12.2

PETRÓLEOS MEXICANOS, SUBSIDIARY ENTITIES AND SUBSIDIARY COMPANIES

Computation of ratio of earnings to fixed charges

(In thousands of Mexican pesos)

	March 2015			March 2014
IFRS
Fixed Charges:
Interest capitalized in fixed assets		1,647,838			882,872
Interest expense		33,624,115			13,088,132
Amortization premiums related to indebtedness		(828,889	)		(813,770	)
Estimate of the interest within rental expense		60,239			62,274
Total Fixed Charges		34,503,303			13,219,507
Net (loss)		(100,546,286	)		(35,953,423	)
Hydrocarbon Income Tax (IRP)		—			2,056,368
Income tax and others		1,950,098			371,235
Profit sharing in subsidiaries and affiliates (income from equity investees)		(39,299	)		(1,135,183	)
Pretax income from continuing operations before income from equity investees		(98,635,487	)		(34,661,003	)
Fixed Charges:		34,503,303			13,219,507
Amortization of interest capitalized		65,914			35,315
Distributed income of equity investees		—			—
Interest capitalized in fixed assets		(1,647,838	)		(882,872	)
Earnings		(65,714,108	)		(22,289,053	)
Amount by which fixed charges exceed earnings		100,217,411			35,508,560
Ratio of earnings to fixed charges		—			—