- Mexico's heavily-indebted state oil company Pemex will seek to avoid pricy capital markets even as it faces billions in maturing debts this year and next.
- $108 billion financial debt at the close of last year, $8.2 billion expiring this year and another $9 billion more in 2024 in both bonds and long-term bank loans.
- Pemex issued 10-year bonds worth $2 billion at a 10.375% interest rate to refinance some debt.
- Pemex forecasts to boost crude and condensate output to 2.0 million barrels per day (bpd) by early 2024.
- Pemex made a meager profit of about $1.2 billion last year, despite the oil boom boosting its income by 60%.
Exclusive: Mexico's Pemex, 'punished' by markets, weighs how to pay heavy debt
Mexico's heavily-indebted state oil company Pemex will seek to avoid pricy capital markets even as it faces billions in maturing debts this year and next, its chief executive told Reuters, saying Pemex had been "punished" by ratings agencies despite measurable improvements in its operational numbers.
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