UPDATE 1-Mexico studies downgrade impact on Pemex

(Adds quote from minister, details on debt)

MEXICO CITY Nov 23 (Reuters) - Energy Minister Georgina Kessel said on Monday that Mexico would study the impact of Fitch Ratings' sovereign rating cut on state-owned oil giant Petroleos Mexicanos' financing.

Fitch cut Mexico's sovereign credit ratings by one notch, saying the government's recently approved tax increases were not enough to address the fiscal deterioration in public accounts.

"We will be analyzing what the impact of this will be on the possibility of a Pemex debt issue," she told reporters.

Pemex [PEMX.UL] said last month it expects its net debt to increase by up to $4 billion in 2010 as it borrows more money to continue its investment program. Capital spending should come in between $18 billion and $20 billion next year.

Kessel also said she was confident Mexico could sustain oil production at 2.5 million barrels per day through 2012. (Reporting by Robert Campbell; Editing by Christian Wiessner) ((R.Campbell@thomsonreuters.com; +52 155 5068 5468; Reuters Messaging: robert.campbell.reuters.com@reuters.net)) ((For help: Click "Contact Us" in your desk top, click here [HELP] or call 1-800-738-8377 for Reuters Products and 1-888-463-3383 for Thomson products; For client training: training.americas@thomsonreuters.com; +1 646-223-5546))