Good morning, ladies and gentlemen, and welcome to Pemex's Results as of December 31st, 2022 conference call, hosted by Carlos Cortez, Acting Chief Financial Officer, Ángel Cid, General Director at Pemex Exploración y Producción, and Reinaldo Wences, Deputy Director of Evaluation and Regulatory Compliance at Pemex Transformación Industrial. There is a support presentation for this conference. The link is available at Pemex webpage www.pemex.com/en in the Financial Information category within the Investors section. At this time, all participants have been placed on the listen only mode. The floor will be open for questions following this presentation. Questions may be asked by phone and webcast. It is now my pleasure to introduce Cristina Arjona, Head of Investor Relations Offices. You may begin. Thank you. Welcome to this call to present the financial and operational results for the quarter of 2022. Before we start, we would like to remind our listeners that whatever comments you in this conference call may include forward-looking statements. Listeners are cautioned not to place undue reliance on any forward-looking statements. To review the cautionary notes that appear in the finance pages of our earnings report. This is published in the investor relations section of the Pemex website. For this conference call, supporting documentation, quarterly variations are considered as compared to the same year. Cumulative variations are considered as compared to the same period of the previous year, unless it is otherwise specified. Thank you very much for your participation. Welcome on behalf of Petróleos Mexicanos. I give the floor to our Chief Financial Officer, Carlos Cortez. Good morning. Thank you, Cristina. Good morning, everyone. Hoping you are well. At Pemex, we appreciate the interest of the entire audience to know the progress in our operational and financial performance with regards to the fourth quarter of 2022. Over the next few minutes, we will present the results of our discipline and operational excellence efforts, which combined with a favorable oil price environment, are reflected in positive financial results. Without much further ado, I will begin by highlighting some aspects that explain our results. Here we have our liquid production. I will begin by commenting that because of our production strategy and operational excellence in the extraction of hydrocarbons, we have consolidated the improvement in our production profile. The total liquid expansion at the end of 2022 reached 1.28 million barrels per day on annual average, with punctual records towards the end of December exceeding 1.8 million barrels. Since the end of the year, the results of the efforts we have put into our new developments has kept the acquisition of the remainder, the remainder of the equity stake in Deer Park, in the Deer Park Refinery has been a wise, a wise decision and has represented an excellent business for Pemex from many points of view. At the end of 2022, 236,000 barrels per day were processed, of which 82% became high-value products such as gasoline, diesel, and jet fuel. In terms of results, the refinery reported a net profit of $956 million at the end of 2022. A solid generation of EBITDA is reported, which accumulated $1.3 billion this year. Remember that Pemex paid January 2022 for the rest of the participation in this refinery, a total amount of $596 billion. It has been a great business which undoubtedly contributes to the national strategy of self-sufficiency in fuels by increasing the crucial processing capacity and the supply of fuels for Pemex. Let me now turn to the domestic market issues. As of 2022, Pemex strengthened its commercial strategy by seeking to progressively serve more customers. Today, we can say that we have reached the leadership with solid increases in sales of transport fuels. In 2022, and compared to the previous year, Pemex has registered an increase in sales of gasoline, diesel and jet fuel by 17%, 48%, and 41%, respectively. We will continue to develop attractive commercial alternatives to meet market demands in Mexico, seeking to be a serious and a reliable supplier. All of the above translate into a good financial results. As of December the 31st, 2022, there was an accumulated net income of MXN 23 billion. This means an increase of MXN 318 billion compared to the result observed in the previous year, which was a net loss of MXN 285 billion. Another result that we have very pleased to share is that there is still a net deleveraging in Pemex finances. Since at the end of 2022, the trend of decreasing the balance of debt continues. Compared to the previous year, the amount decreased by $1.3 billion. Without taking into consideration the amount corresponding to our reporting of the, reporting operation that was structured with credit titles in favor of Pemex, the financial debt of the company is lower by $3.2 billion compared to the balance registered at the beginning of this administration. It is not subject to of this quarterly report because the operation was executed in January 2023. It is good to say that in close coordination with the federal government, Pemex returned to the international financial market through the issuance of a 10-year bond, which was placed at efficient conditions. Let's talk about our ESG agenda. Turning to other matters, it is necessary to reiterate that Pemex is very clear about the importance of environmental, social and corporate governance issues. To this end, last December, the board of directors made important decision in this regard, such as the approval of the 2023/2027 business plan with a sustainability perspective, as well as the creation of a specific committee for the attention of this agenda, which will be installed in the coming days. In addition to our medium term goal of reaching 98% in the use of our gas, in the short term, we are working on signing to the United Nations Global Compact in the integration of a sustainability plan and collaborating with the U.S. Environmental Protection Agency, EPA, on a methane emission mitigation plan. Let's dive a little deeper in certain aspects of our financial results. In isolation, during the fourth quarter of the year, 2022, there was a net income of negative MXN 172 billion, mainly because of lower prices compared to previous quarters and some considerations that impact the impairment account. As I've already mentioned, the annual result reports a positive net income of MXN 22 billion. In these ideas, to measure the impact of the fiscal benefits that the federal government has determined to support Pemex, here we show the implicit rate of contribution in relation to our total revenues in the income statement. As can be seen, the last four years have recorded the lowest rates in recent history. At the beginning of the energy reform, these proportions were contracted as a result of new consideration of, because of the determination of duties. With the downward adjustment made in the rate for the DUC that occurred from 2020, lowest depleting depletion rates of recent years are registered. This has allowed PEMEX to release significant flows of resources to strengthen its financial position and to meet its commitment. Even with these tax benefits, PEMEX remains the most important taxpayer in this country. With the public information from the main companies that report to market information in Mexico, PEMEX revenues are 20% higher than the sum of the three companies with the largest scale. The taxes paid by the later as a whole, are 5x lower than those paid by Pemex. Being a productive enterprise of the Mexican state, Pemex contribution to the federal government budget revenues is very important. At the end of 2022, this share amounts to 22%. This means that for every MXN 100 that the public treasury enters, MXN 22 comes from oil revenues. We remain a company with solid profitability. At the end of 2022, Pemex EBITDA margin was 31%. Despite the complex circumstances that have allowed the industry globally, Pemex has not stopped investing. In both 2022 and 2021, Pemex continued to develop productive activity, which explain the generation of value measured in terms of EBITDA margin. In a quarterly view, profitability generation slowed slightly during the fourth quarter of 2022, mainly reflecting lower prices in international markets. As a lower EBITDA was registered compared to the same quarter in 2021, the annual accumulator remains solid and places Pemex in an important position in the generation of flows compared to other companies in the sector. What about our CapEx evolution? Well, as already mentioned, the higher generation of flow has been a consequence mainly of the fact that we have not substantially interrupted our main activity. This is hydrocarbon exploration and extraction. Our CapEx continues to show a growing profile, and with preliminary information, it is estimated that in 2022, more than MXN 200 billion in capitalizable investment will be registered. Of this amount, 78% was channeled to hydrocarbon exploration and extraction activities, and the rest of... to other business lines. In a transversal way, we identified MXN 1.6 billion associated with environmental and investment. We are in the process of adapting our taxonomy to report in a more transparent way our expenses for sustainability issues. Going a little deeper into the operation of our refinery near port, I would like to elaborate on some aspects that support the good results from the operation of the four different facilities by Pemex. In terms of financial performance, we have already said that this business line obtained a net income of $956 million at the end of 2022 as a result. This result contrasts with the net loss of $308 million observed in 2021. With the recovery of prices and market condition, a margin of $18.8 per barrel was obtained, and an EBITDA of $1.3 million thus was generated. As already mentioned, in the operational aspect, the achieved results stand out compared to those registered in recent history. A greater volume of crude oil was processed compared to the previous year using the infrastructure with greater intensity, which resulted in a higher production of 35,000 barrels per day, of which the largest proportion corresponds to high value products. Regarding payments to our suppliers during the fourth quarter of 2022, as a complement to the dispersion with our own cash flows, factoring mechanisms were executed that allowed total payments to be more than MXN 445 billion. This is 20% higher than those registered in 2021. I will comment on some aspects on our ESG agenda. In the last quarter, we continued with the implementation of initiatives to reduce atmospheric emission and adapt to climate change. In relation to the emissions trading system, controls have been implemented to follow up on the processes that generate greenhouse gas emissions. We also continue to participate on the consultative committee of the emissions trading system with proposals applicable to the operational phase of this system. In order to fulfill the strategic objective of reducing environmental impact and improving energy management in industrial activity, we followed up on the implementation of infrastructure projects focused on reducing emission in intensity indexes of Pemex different productive activities. Pemex exploration continued with its strategy for human management and gas use. At the end of 2022, Pemex recorded a 13% reduction in greenhouse gas emissions compared to 2021. With respect to the progress of the climate risk analysis of the pipeline transportation system in the 14 Maltrata-Veracruz section, on-site workshops were held for the identification, prioritization, monitoring, and evaluation of climate change adaptation measures. What about our environmental protection KPIs? Well, in terms of our indicators, we can share good results with you. First, in 2022, sulfur oxide emissions were reduced by 10.2% due to the entry into operation of projects focused on gas use and the entry into operation of sulfur recovery system in refineries and gas processing complex. Second, carbon dioxide equivalent emissions decreased by 4.3% in 2022, mainly due to the greater use of associated and not associated gas in the exploration and production processes, implementation of hydrocarbon transportation projects and operational flexibility, and the improvements implemented in refining infrastructure and gas processes. Finally, the water reuse ratio increased by 3.1%, mainly as a result of the implementation to the effluent treatment system and sewage and wastewater treatment plants at the Tula, Salamanca, and Cadereyta. Here we have our gas emissions to the atmosphere. Among the actions implemented, the following stand out: the closure of wells with a high gas oil ratio in the north, northeastern offshore region, the construction of a sweetening plant at the Papantla measurement and console station, for management of gas from the Tachi field, and also the preventive maintenance to gas compression units. These actions have allowed a reduction in the gas in the gas sent to the atmosphere of 172 million cubic feet daily as compared to 2021, which is equivalent to a 91% gas use. Next, we have our safety KPIs. In 2022, the accumulated frequency index for Pemex personnel was 0.49 accidents per million man hours worked. This is 40% higher than the figure recorded in 2021. Business lines that contributed to the most of these indexes in 2022 were Pemex Logística with 36 injured workers and Pemex Transformation itself with 58 injured workers. The 2022 cumulative severity index for Pemex personnel stood at 29 lost days per million man hours working with exposure risk. This is 45% more as compared to 2021. In 2023, initiatives will continue to be implemented to strengthen the Pemex system, safety, health, and environmental protection in order to reverse the accident trend observed during 2022. Here we have our the action for fuel thefts and combat to illegal market of gasoline and liquid gas. Regarding the action to face this illicit, it is worth to say that at the end of 2022, the volumetric deviation decreased 89% compared to 2018. The formal entry into the market of these volumes represents additional revenues for Pemex and for the federal government that sums a total amount of MXN 175 billion. What about our social responsibility? Well, with the participation of communities and the local authorities, Pemex implements social responsibility actions. During 2022, Pemex social investment in oil communities amounted MXN 2.3 billion, this amount represents almost 50% more than in 2021. Of this, MXN 843 billion were in programs for education, sports, infrastructure, environmental protection, productive projects, health, and to strengthen public safety and civil protection services. MXN 1.4 billion were allocated in asphalt and fuels donations. Finally, as of December 31st, 2022, 18 environmental risks have been addressed for which budgetary resources of MXN 593 million were allocated. Of the total risks attended, seven correspond to priority 1 risk, for which MXN 483 million were allocated. We have addressed 552 non-tolerable risk and we have placed working programs with the aim of addressing the remaining 199 risks. In addition to the integration planning in course, will, while the risks are definitely addressed. At this point, I will ask José Alberto Jiménez, our finance manager, to elaborate on the focus areas. Thanks. No problem. Thank you, Carlos. Thank you, Carlos. Good day to everybody. As we can see here, the ten-year reference was impacted by geopolitical factors and the increase in rates. We observed an improvement by the end of 2022. In terms of our maturity profile, the refinancing efforts have guaranteed a solid financial position and access to markets. Bank financing and other financing alternatives have been guaranteed. In terms of public debt, our debt ceiling for 2022 was MXN 65 billion. Due to federal government support and an improvement in economic conditions, Pemex achieved a reduction in public debt for 68 billion MXN. That would be all from the financing side, I give the floor to our CFO, Carlos Cortez. Thank you so much. What have we said about the way in which the federal government support for Pemex materializes? We consider it relevant to highlight this support is defined by observing the following guidelines. The first is shield Pemex CapEx and take advantage of attractive investment opportunities. The second one is maintain fiscal support. This includes the 40% rate for the determination of the profit-sharing duty. The execution of strategies for debt reduction and liability management. The joint management of cash flow. Efforts to strengthen ESG agenda based on the agreement signed by the federal government. To strengthen the transmission of messages for the confirmation of support to Pemex by the federal government. Now, in order to deepen on particular issues of our business lines, I will leave the room to Mr. Jesús Rojas, who on behalf of Ángel Cid is going to elaborate on the operational issues of Pemex Exploración y Producción. Thank you. Thank you, Carlos. Good day to everyone. The presentation of Pemex Exploración y Producción operating results is divided into four sections. In the first part, I will talk about the performance in the annual production of liquid hydrocarbons. That is extraction and crude oil and condensate, including the production of our partners. In the second section, I will show the annual performance of natural gas production. In the third section, I will present the production progress in the new fields project. In the fourth section, I will show you the reducing of drilling times in two onshore fields. In line with the 2023-2027 business plan, Pemex Exploración y Producción focuses on areas with the highest productive and economic potential. The current strategy for precise exploration in onshore and shallow waters areas. In addition, the accelerated development of the new field continues. The early incorporation of production from exploratory wells is maintained. Likewise, the time for development and starting production has been reduced, and the focus continues to be on well maintained to sustain base production in operating fields and immediate attention to operational problems. Due to the action implemented, average and liquid production in 2022 totaled 1,754,000 barrels per day. That is to say, a growth of 28,000 barrels per day or 1.6% higher than the barrels extracted in 2021. Growth in liquids hydrocarbons production during 2022 maintains the upward trend observed since 2019. New fields and exploratory zones close to existing infrastructure explain these growth. Regarding the quality of hydrocarbons produced, the share of light crude oil has increased to 47%, mainly from the new fields which are producers of this type of hydrocarbons. Regarding production location, 73 comes from the shallow water fields and 27 from the onshore fields. This context is worth clarifying that on December 5th, the CNH approved the development plan for the Quesqui field. In the statistics published by Pemex, production was classified from the super light crude and associated gas to condensate and non-associated gas. As for the annual performance of hydrocarbon gas production, without including the production of partners, as shown in the graph, it increased by 174 million cubic feet per day. This is equivalent to a growth of 4.7% compared to the same period in 2021 from 3,692 million cubic feet per day to 3,866 million cubic feet per day. As in crude oil production, the downward trend in the total of free gas production has been reversed, mainly due to the contribution of wells with a high gas oil ratio from the Quesqui and Tupilco Profundo fields in the south region, the Ixachi field in the north region, and the Koban field in the southwest marine region. The production of liquids hydrocarbons extracted for the new field is an essential part of the strategy to maintain a production growth trend. In this regard, in the fourth quarter, we incorporated the production of 7,000 barrels per day from the completion of 11 wells, 4 wells of which are offshore and 7 wells onshore. The production of liquid hydrocarbons due to the total incorporation of the new development and early production as from December 31, 2022, reached 507,000 barrels per day through the contribution of 150 wells, 92 marine and 58 land wells. From 2021- 2022, liquid production in new fields increased by 165,000 barrels per day, a growth of 74%. In addition, it is worth noting that the average liquid production in the new fields during January 2023 reached 515,000 barrels per day. The production in the natural gas fields totaled 1,439,000 cubic feet per day. Strategy 6.2 of the business plan consists of reducing costs and increase efficiency of exploration and production operations. Pemex's exploration and production has implemented action for a systematic cost reduction in the substantive processes. The experience of our engineers with the available technology result in a significant reduction in drilling times. As the graph show, drilling times in Quesqui wells has been reduced by 122 days, while in Tupilco Profundo, the drilling time has been reduced by 54 days. The reduction in drilling times translate into significant savings in the investment budget. This concludes the presentation of Pemex's exploration and production results. I give the floor to Reinaldo Wences from Pemex Transformation. Thank you very much. Good morning, thank you all for participating in this call. Regarding crude oil processing, as shown in the graph, in 2022, the crude oil process at the national refining system averaged 816,000 barrels per day, a 15% increase as compared to 2021. This behavior is explained by a better operating performance of the refinery. At Tula Refinery, process average 180,000 barrels per day. At Salina Cruz, 178,000 barrels per day. Salamanca, 130,000 barrels per day. Cadereyta, 119,000 barrels per day. Minatitlán, 112,000 barrels per day. Madero, 98,000 barrels per day. I would like to highlight that in January 2023, we reached a crude oil processing level of 836,000 barrels per day, and in February is around 150,000 barrels per day as an average. Regarding the rehabilitation program of the national refining system, in 2022, repairs were completed in 58 processing plants, 49 corresponding to the 2022 Program and nine of programs from previous years. In 2023, the rehabilitation program will continue, focused on restoring the mechanical integrity of the processing units, main services, and storage tanks. Moving on to products production. In 2022, the production of oil products increased by 15% as compared to 2021, averaging 824,000 barrels per day, of which 261,000 barrels per day were gasoline, 146,000 barrels per day of diesel, 33,000 barrels per day of jet fuel, and 383,000 barrels per day of other oil products and LP gas. This positive performance outstands the 19% increase in distillate production, that is gasoline, diesel, and jet fuel. In refineries, Tula with 97,000 barrels per day, Salina Cruz with a production of 87,000 barrels per day, Cadereyta with 78,000 per day, Salamanca with 72,000 barrels per day, Minatitlán with 56,000 barrels per day, and Madero with 51,000 barrels per day. It is worth mentioning that a 54% distillate yield was recorded in 2022, a figure 1.8 percentage points higher than 2021. It is worth also mentioning that the refineries that recorded the distillate yield above the national refining system average were Cadereyta and Salamanca at 65.9% and 55.2% respectively. With respect to our variable refining margin, during 2022, the national refining system averaged a variable refining margin of $7.34 per barrel. A higher figure of $4.42 per barrel as compared to the margin recorded in 2021, mainly due to higher petroleum products prices in the north coast of the Gulf of Mexico and the improved operational performance at the national refining system due to higher distillate yields. Let's go to the next slide. With respect to gas operations in 2022, the wet gas process averaged 2,770 million cubic feet per day, 142 million cubic feet per day, higher as compared to 2021, as a result of higher gas availability due to the production increase in sour wet gas in the southeast region of Pemex Exploración y Producción, more than 185 million cubic feet per day. In this regard, we want to acknowledge the efforts of the Pemex Exploración y Producción team and its general director, Ángel Cid for the increase in wet gas availability. Since March 2022, an average production, 500 million cubic feet per day, has been maintained at the Chixchi field. In this sense, it should be noted that in December 2022, production averaged 638 million cubic feet per day, and in January 2023, it increased all the way up to 697 million cubic feet per day. Regarding gas production, as a result of this processing level, dry gas production recorded 2,258 million cubic feet per day, a 9% higher than the figure recorded in 2021. This behavior is mainly explained by a gas production increase at Cactus, Nuevo Pemex, and Arenque gas processing complexes. Finally, well, the gas liquids production averaged 161,000 barrels per day, a lower figure by 10,000 barrels per day as compared to 2021, mainly due to the production decrease in Ciudad Pemex gas processing complex. Let's go to petrochemicals production. Regarding petrochemicals production, in 2022, the total petrochemicals production recorded 1,305,000 tons. The best performing products are, one, was 295,000 tons, an amount, 85,000 tons higher as compared to previous year. This result was mainly due to higher sulfur production at the Ciudad Pemex gas processing complex and the national refineries. Production of other petrochemicals recorded 353,000 tons, 79,000 tons higher than in 2021, mainly explained by higher production of carbon dioxide at the Cosoleacaque Petrochemical Complex. Three, in the methane derivatives chain, ammonia production was 278,000 tons, that is 34,000 tons higher than in 2021. This improvement is mainly explained by the continuous and stable operation of the Ammonia VI plant in the Cosoleacaque Petrochemical Complex since February 2022. In contrast, the ethane derivatives production recorded 125,000 tons, a lower volume of 108,000 tons as compared to 2021, mainly due to maintenance works at the ethylene unit in La Cangrejera Petrochemical Complex, which was carried out from November 2021- August 2022, affecting the raw material availability for the derivatives units, coupled with problems in the operation and the supply of ancillary service. I would like to highlight that in order to improve results of the segment, Pemex will invest in the rehabilitation of the main process unit services in order to recover the operating capacity of the ethylene and fertilizer plant. Finally, I'd like to comment on three incidents that occurred at our facility. Maya combined plant at the Minatitlán refinery. On February 23rd, 2023, a fire broke out in the heat exchanger bank area of the combined Maya plant at the Minatitlán refinery, which was shut down by operating and firefighting personnel. In the incident, five workers were injured, three of whom are still being treated at the Hospital Central and Regional Hospital in Minatitlán. Pemex deeply regrets the death of two of our colleagues, employees, Leopoldo Sánchez Calixto, with 24 years of seniority, and Alan Oswaldo Domínguez Velázquez, with 21 years of seniority. Our prayers and support are with the families of our colleagues. There was no damage to the refinery's infrastructure since the affected equipment was out of operation and in the process of being delivered for maintenance. The second incident was in the Tuzandépetl Strategic Storage Plant. On February 23rd, 2023, a fire was recorded at the drilling rig which provided maintenance to the Tuzandépetl 331 cavity in the municipality of The Emergency Care and Management Group, GRAME, was immediately activated to control and extinguish the fire. Due to this event, two workers lost their lives, three workers were injured and are being treated at the Pemex hospital, exhaustive activities are being carried out to locate three more workers. Pemex deeply regrets these events and stands in solidarity with the families of the workers. The third incident was in the distillation unit at Deer Park Refinery. On the night of February 23rd, the fire was reported at one of the distillation units of the Deer Park Refinery, which was extinguished by the site's emergency response team after about an hour. Air monitoring activities were conducted inside and outside of this facility. Pemex made all required regulatory notifications. No injuries were reported, and there is no threat to the community or to the environment. Cleanup is concluded, and initial scope appears to be around 12 days worth of work. The rest of the complex is running well. Currently, no impact on the supply chain is expected. Pemex reaffirms its commitment to the safety of its workers and the communities where it operates, to act in a safe and timely manner in dealing with these risky events. The corresponding root cause analysis of these incidents will be carried out. This concludes my participation in this call. I'll now give the floor to Ernesto Baltazar to provide the financial final message. Thank you very much for your attention. Thank you very much, Reynaldo. Just in order to move to our QNA, Q&A session, a final message. We are very proud to report good results compared to the previous year. Higher production, higher revenues and lower debt. All these result of good industry conditions and of having managed the right decisions. In the coming months, we will continue working to face the enormous challenges that this 2023 year puts us in front to continue consolidating the results that we are presenting here today. Thank you very much again, and we can move on to the Q&A section. Thank you. As a reminder, if you have a question, please press star one one on your telephone and wait for your name to be announced. To withdraw your question, please press star one one again. Please stand by while we compile the Q&A roster. One moment for our first question. It comes from the line of Anne Milne with Bank of America. Please proceed. Thank you very much. It's nice to hear you on the call today. I have two questions. The first one is on your income statement. You recorded in the fourth quarter, an impairment, and you had substantially higher cost of sales, 29% higher. I was wondering if you could give us a little bit more detail on both of those items. The second question is on the national refining system. You've brought up capacity nicely, this year. Where do you expect to be at the end of 2023 on the Mexican national refining system? Thank you very much. Hi. Good morning, everyone. This is Ernesto Baltazar with the accounting team. In connection with your question on impairment, well, impairment was derived from the increase in our discount rates and also a decrease in the prices that we are forecasting for purposes of computing that, well, the impairment. That is the main cause. It's related also to the issue on the cost of sales. Cost of sales was very high in the fourth quarter because of the inclusion of the impairment. Okay. Thank you. One moment for our next question. We're missing one more answer to the Yes. Reinaldo Wences here. Yeah, we're looking at around $1 million. As for the 6 refineries that we have. That's not including. Okay, excellent. Thank you. The other one. Thank you. Okay, thank you very much. Thank you. One moment for our next question, please. It comes from the line of Alejandra Andrade with JP Morgan. Please go ahead. Hi. Thank you so much for taking my question. In the Spanish call, I'm sorry, you mentioned the possibility of coming back to the market and doing some liability management. I don't know if you can give us more color on what you're thinking in the coming months. Thank you. Yes. Thank you for your question. As we mentioned, we are addressing our upcoming maturities with a three-component strategy. One of them is, as you mentioned, an orderly return to the market to guarantee access to capital markets and possible liability management exercise on one side. On the other side, there's the bank financing. We are currently working with our main relationship banks to address the bilateral and syndicated loans that mature in the upcoming months. On the third side, we anticipate that there will be free cash flow for the rest of the maturities and of course, if it is needed, additional government support. Great. Thank you. One moment for our next question, please. It comes from the line of Declan Hanlon with Santander. Please go ahead. Your line is open. Please proceed. Declan Hanlon with Santander. Please stand by for our next question. All right, it comes from the line of Badr El Moutawakil with Barclays. Please proceed. Yeah. Thank you so much for taking my questions. I have three quick questions. The first one is related to the cash and cash in hand. Is it possible to get an update of the current cash and cash in hand? We're seeing that, you know, the credit, the available credit lines and the revolvers have been drawn to all-time tights. Just curious if you can get us an update after the issuance. My second question is related to downstream. Obviously, you know, we've seen on the slides that you are showing that margins on the upstream have turned positive. I still have them, or have Pemex burning a little bit of cash in 4Q 2022 on the downstream. If it's possible to get us, you know, how shall we think about the downstream business in 2023? My final question is related to the contribution from the federal government. We've seen an increase of $4 billion in Q4, and then you highlighted on the Spanish call that this increase was going for the refineries and potential investments. Just thinking out loud, you know, we're penciling something between, you know, $14 billion-$20 billion of CapEx for Pemex in 2023. How much of this CapEx would be potentially supported by the government? Thank you so much. Hello? Yes, please stand by for your answer. One moment, please. Well, yeah, going quick through your questions. On the first one, as we reported, as of Friday, 24th of February, we had $500 million in our RCF in dollars. I'm sorry, $250 million in our RCF in dollars and MXN 5,000 in our RCF in MXN. In terms of the second question about the margins, I'm gonna give the floor to Reinaldo Wences. We were talking about, looked at our first slide on the downstream part. The variable margin that we had from our refineries and from the other areas that do better was relatively. It was one of the records that we had, around $7 per barrel as an average. We did have a dip in the third quarter, even went down to $8, but we recovered that with another $7 at the year end. This has been in line with, you know, the whole industry, refining industry, worldwide has benefited from higher prices, but also due to the fact that we're pushing up our volumes that we have in our refineries. We're benefiting from that. Our... Once we get Dos Bocas on board, our refinery margins will even be better because we'll have a very high diesel yield. Thank you very much. For the last question, in terms of the additional support for CapEx, there's no specific in the budget for this CapEx. We will continue to receive it as it is needed for the rest of the year. Thank you so much. Thank you. One moment for our next question, please. All right, our next question comes from Sharmila vanderputten with Credit Suisse. Please proceed. Hi, thank you for taking my question. I have two questions. One is on the plans for potentially recapitalizing by the government. Before the bond issue, the president of Mexico made some statements that potentially Pemex's debt could be taken over by the government. I understand that there might be some concern with regards to then Mexico's rating by Fitch. My question is, has there been any discussions and are you expecting some kind of a formal plan from the government? The other question relates to the supplier finance, where you issued bonds to suppliers in lieu of payment. What is the amount of that? Is this all reported under debt, or where is it reported in the balance sheet? Thank you. We want to be really vocal on the guidelines for government support. As it was mentioned in the report, these guidelines are to shield Pemex CapEx, to maintain fiscal support, the execution of strategies for debt reduction and liability management, joint cash flow management, promote the ESG agenda based on the agreement signed by the federal government, and strengthen the communication of messages to confirm support for Pemex. That would be the answer to question number one. In terms of question number two, you can see this in the financial debt since a bond was issued to this operation. Thank you. Okay, thank you very much. One moment for our next question, please. Thank you. We're taking one more from the webcast. It comes from Declan Heala. Following the comments on refinancing and liability management, three euro denominated bonds are scheduled to be amortized this year. Following previous amortization since the last euro-denominated issue, we know the European markets focus on ESG. However, given the ESG plans you are mentioning, is this market a potential destination of near-term issuance, especially given the U.S. blackout through the end of May? Give the floor to Alberto Peón. Yes. As we mentioned, to address the maturities for this year, we have a three-component strategy. The first component is an orderly return to the capital markets. That of course includes the possibility of analyzing the euro market. Of course it's something that we will be considering analyzing in terms of the options that we have in capital markets. Thank you. One moment for our next question. Okay, ladies- Oh. Thank you so much for standing by. Thank you. This is Carlos Cortez again. I'm afraid we are out of time. I would like to thank you, your attention, in this call. Thank you very much. Please, any additional questions, feel free to place it by our investor relation office. Thank you very much again. Thank you so much. With that, we conclude today's conference call. Thank you for participating, and you may now disconnect.