An official from Mexico's state oil company Pemex said last week the company needs to spend $50 billion on refining from 2009-2017, face=+Italic; Business News Americasface=-Italic; reported.

About $6 billion of that will be needed to expand and reconfigure three existing refineries, which is more than four times what the company has spent on refining in the past three years, the report said.

Pemex would use the investment to construct 80 new refinery units.

Last month, it was reported that the expansion of Pemex's Minatitian refinery to 249,000 b/d, which had already been delayed until early next year, has been delayed again (face=+Italic; see OW 6/2/08face=-Italic; ...