Mexican national oil company Pemex plans to refinance $2.5 billion in debt this year while trying to revive oil production to boost income, the state-owned company’s chief financial officer said, as pressure mounts from credit ratings agencies over its performance. Alberto Velazquez said in an interview that the $2.5 billion mostly includes outstanding bonds. He said the operation would complement the renewal of some $5.5 billion in credit lines the ailing oil company has with banks, already announced by Pemex but not yet completed. The executive said that, besides the domestic and international capital markets, Pemex will explore “bilateral contracts with banks” to refinance the $2.5 billion. “It is not what you would want in terms of interest rates, but […]