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 presentationposted 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.
Brazil Energy Insight 
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