Commodities & Energy

Reuters reveals Pemex planning debt refinancing

Reuters reveals Pemex planning debt refinancing

Reuters exclusively reported that embattled state oil company Pemex plans to refinance $2.5 billion in debt this year while trying to revive oil production to boost income, as pressure mounts from credit ratings agencies over its performance. The company’s chief financial officer Alberto Velazquez said the move would complement the renewal of some $5.5 billion in credit lines the ailing oil company has with banks.