Skip to content
Subscriber Only

Pemex Sees Total Debt Rising Above $100 Billion Next Year

  • Company forecasts $21 billion financing plan next year
  • Pemex sees joint ventures, pension changes to improve finances

Total debt at Petroleos Mexicanos may rise to more than $100 billion in 2016 as the state-run oil producer plans to issue more debt amid a slump oil prices and continued production declines.

Pemex, as the world’s eighth-largest oil producer is known, estimates it will borrow $21 billion in 2016, with as much as $20 billion budgeted for national and international debt issuance and a reduction in bank loans, according to an investor presentation posted on the company’s website. The company plans debt payments of $5.3 billion next year, meaning the existing $87 billion in debt would be increased by an estimated $15.7 billion.