PEMEX LOAN $8 BLN

REUTERS - Mexican state oil company Pemex [PEMX.UL] signed an $8 billion syndicated loan with more than 20 banks to renew credit lines and refinance liabilities, President Andres Manuel Lopez Obrador said on Thursday.

Pemex, saddled with about $106 billion in debt and facing the prospect of a costly credit rating downgrade, announced in February the financial operation, which is aimed at reducing liabilities and providing funds for investment.

Lopez Obrador said 23 banks participated, both in Mexico and abroad.

"It's the most important operation of its kind in Mexico," he wrote on Twitter, adding that it would strengthen Pemex during his six-year term that began last December.

Pemex has said that its net debt will not increase between 2019 and 2022, and that crude production will increase beginning this year, primarily through the development of 20 recently discovered fields.

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Earlier:

2019, February, 25, 11:50:00 PEMEX PRODUCTION DOWN TO 1.62 MBD REUTERS - Mexico’s Pemex produced 1.62 million barrels of crude per day in January, less than any month in almost three decades, the state-owned oil company said on Friday, underscoring the challenges facing a government that vows to pump far more in a few years. English

2018, December, 27, 17:30:00 PEMEX PRODUCTION DOWN PLATTS - The downward trend in output from Mexico's state oil company Pemex continued in November as oil and gas production fell 2.7% and 2.3% respectively, from the previous month, company data showed Wednesday. English

2018, October, 29, 12:05:00 PEMEX NET INCOME 27 BLN PESOS PEMEX - Upon comparing the results of this quarter with the same quarter for the previous year, the following items stand out: (i) total sales increased by 33%; (ii) operation yield recorded a significant improvement of 83% and currently at 54 billion pesos; and (iii) the company recorded a net income of 27 billion pesos, compared to losses of 102 billion pesos recorded the previous year. English