Construction Is Slated To start In Early 2018
“The current services and pipeline networks are petroleum equipment services inc largely unequipped to handle this growth and are limiting the place merchandise could be transported. Development is slated to begin in early 2018, following the permitting course of, and the power is projected to begin operations in 2019.
The corporate anticipates the 18-month development process will create roughly four hundred jobs in the area throughout peak construction, in addition to foster a major number of oblique jobs and revenue for companies in catering, workforce housing, building, equipment and different industries. AUSTIN, Texas -- MMEX Resources Corp., a global vitality company focusing on the acquisition, growth and financing of oil, gas, refining and infrastructure tasks in Texas and South America, introduced that it plans to construct a $450 million, 50,000-bpd capability crude oil refinery within the West Texas Permian Basin, subject to the receipt of required governmental permits and completion of required debt and fairness financing.
Situated 20 mi northeast of Fort Stockton, Texas, near the Sulfur Junction spur of the Texas Pacifico Railroad, the 250-acre facility intends to make the most of its connection to current railways to export diesel, gasoline and jet fuels; liquefied petroleum gas; and crude oil to western Mexico and South America. As soon as accomplished, the Pecos County refinery will probably be one in all the first oil refineries constructed in the United States in more than forty years.
“The Permian Basin is the most important continuous oil discovery in America and has skilled exponential positive factors in daily production quantity not too long ago,” mentioned Jack W. Hanks, President & CEO of MMEX Assets Corp. “The existing facilities and pipeline networks are largely unequipped to handle this development and are limiting the place products will be transported. AUSTIN, Texas -- MMEX Assets Corp., a global energy company focusing on the acquisition, growth and financing of oil, gasoline, refining and infrastructure initiatives in Texas and South America, introduced that it plans to build a $450 million, 50,000-bpd capability crude oil refinery within the West Texas Permian Basin, topic to the receipt of required governmental permits and completion of required debt and fairness financing.
Situated 20 mi northeast of Fort Stockton, Texas, near the Sulfur Junction spur of the Texas Pacifico Railroad, the 250-acre facility intends to utilize its connection to existing railways to export diesel, gasoline and jet fuels; liquefied petroleum gas; and crude oil to western Mexico and South America. Once completed, the Pecos County refinery shall be one in every of the primary oil refineries built in the United States in more than forty years.
“The Permian Basin is the biggest continuous oil discovery in America and has experienced exponential gains in daily manufacturing quantity lately,” said Jack W. Hanks, President & CEO of MMEX Resources Corp. “The existing facilities and pipeline networks are largely unequipped to handle this growth and are limiting the place merchandise will be transported. By building a state-of-the-artwork refinery alongside the region’s present railway infrastructure, we hope to bring a local and export marketplace for crude oil and refined products which can add substantial job and financial development to West Texas.”
It additionally expects to feature closed-in water and air-cooling methods, which will require very little native water assets. Construction is slated to start in early 2018, following the allowing process, and the power is projected to begin operations in 2019.
