Mexico’s national oil company Petróleos Mexicanos, or Pemex, announced a $4.6 billion reconfiguration of its Tula refinery on Wednesday, saying the project was a better deal than moving forward on a new refinery nearby that had a price tag of at least $10 billion when it was proposed in 2008. Pemex CEO Emilio Lozoya said the Tula upgrades are part of a $20 billion package of refinery projects that include reconfigurations of the Salamanca and Salina Cruz refineries and previously announced work to upgrade all of the firm’s six refineries to produce cleaner diesel. The Tula project will increase gasoline and diesel production at the refinery to 300,000 barrels a day from the current 160,000 barrels, Pemex said in a statement. Separately, construction firm Empresas ICA said its ICA Flour joint-venture had signed a $1.3 billion contract to build a coker plant at the Tula refinery as part […]