MMEX Resources Corp., announced it plans to build a $450 million, 50,000 barrel/day (bbl/d) crude oil refinery located in the West Texas Permian Basin, called the Pecos County refinery. The company has allocated 250-acre northeast of Fort Stockton, TX to export diesel, gasoline, and jet fuels, liquefied petroleum gas, and oil to western Mexico and South America.
“The Permian Basin is the largest continuous oil discovery in the United States,” says Jack W. Hanks, president and CEO. “It has experienced exponential gains in daily production volumes and the existing facilities and pipelines are largely unequipped to handle this growth. By building a state-of-the-art refinery along the region’s existing railway infrastructure, we hope to bring a local and export market for crude oil and refined products which will add substantial job and economic growth to West Texas.”
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