A first phase envisions refinery and storage capacity of 50,000b/d and 4Mb.
The northeastern Mexican state contains 32% of the country's non-conventional hydrocarbons reserves.
In its latest oil market report published on Tuesday, the Paris-based body predicted demand growth of 1.4Mb/d this year - up 7.7% on its previous projection - following an optimistic GDP outlook from the IMF.
Renewable energy is the future, but natural gas is the energy of the transition period from carbon to renewables. This period will last some 25 years, according to the Latin America business development director for renewables, power, and oil and gas at Spanish engineering firm Sener.
The CEO of the Brazilian state-run oil giant updates reporters on a wide range of strategic issues.