Pemex pays off over US$5 billion in debt to contractors

Mexican state-owned oil company Pemex said on Monday it had paid off 92 billion pesos (US$5.08 billion) in debt outstanding to contractors and would continue to settle its obligations in the coming months.

"At the close of 2015, Pemex's total debt to providers and contractors rose to 147 billion pesos, so that having made this series of payments for 92 billion pesos, the remaining debt is 55 billion pesos," the company said in a statement.

Pemex noted it was "sufficiently solvent" to cover debts contracted in 2015 in the next few months.