Pemex expected to refinance bonds by next year

FILE PHOTO: The logo of Petroleos Mexicanos (Pemex) is pictured at the company's headquarters in Mexico City, Mexico July 26, 2023. REUTERS/Raquel Cunha//File Photo

Mexico City: Mexico’s leading presidential candidate Claudia Sheinbaum said she expects Petroleos Mexicanos (Pemex), the world’s most indebted oil producer, to refinance its bonds ahead of upcoming maturities in 2025.

“By necessity it has to be in 2025, because there is a maturity of part of the debt coming up in the next year, and we have to work on that,” she said in an interview on the sidelines of Mexico’s annual banking convention in Acapulco. “Most likely the current Pemex chief executive and the president are going to leave us with a long-term plan.”