You are currently viewing: News



08-03-2017

MMEX Resources to build new refinery in West Texas

MMEX Resources Corp, a global energy company focusing on the acquisition, development and financing of oil, gas, refining and infrastructure projects in Texas and South America, announced today that it plans to build a $450 million, 50,000 barrels per day capacity crude oil refinery in the West Texas Permian Basin, subject to the receipt of required governmental permits and completion of required debt and equity financing.

Located 20 miles 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 will be one of the first oil refineries built in the United States in more than 40 years.

Jack W. Hanks, President & CEO of MMEX Resources Corp., commented: “The Permian Basin is the largest continuous oil discovery in America and has experienced exponential gains in daily production volume recently. The existing facilities and pipeline networks are largely unequipped to handle this growth and are limiting where products can be transported. 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.”

MMEX plans to surround the Pecos County refinery with an additional 250 acres of buffer property and leverage state-of-the-art emissions technologies to yield minimal environmental impact. It also expects to feature closedin water and air-cooling systems, which will require very little local water resources. Construction is slated to begin in early 2018, following the permitting process, and the facility is projected to begin operations in 2019.

The company anticipates the 18-month construction process will create approximately 400 jobs in the area during peak construction, as well as foster a significant number of indirect jobs and revenue for companies in catering, workforce housing, construction, equipment and other industries. Once operational, the facility is expected to provide an estimated 100 permanent jobs and generate substantial tax revenue for Pecos County.

The MMEX management team has more than 30 years of experience building and managing multi-million dollar gas processing, pipelines, power plants, refinery and oil and gas operations in Peru and the United States. MMEX purchased the rights to the project from Maple Resources Corporation. As with each of its previous projects, the management team will establish local offices and representatives to keep the surrounding communities informed throughout the construction phase and once the refinery is fully operational.

“MMEX Resources is eager to work alongside the Pecos County community to produce a state-of-the-art facility that opens up economic and job opportunities for the region. The safety of our employees, the neighboring community and the environment are our top priorities,” concluded Hanks.

Sponsor : 

Other News Items

OpenTAS certified for EMCS 2.3

Implico’s OpenTAS terminal management system has now been certified for use with the new EMCS Release 2.3 which becomes mandatory from November 2018. The software ...

25-04-2018

Buckeye Partners, Phillips 66 and Andeavor to construct South Texas gateway terminal

Buckeye Partners, today announced the formation of a joint venture with Phillips 66 Partners and Andeavor to develop a new deep-water, open access marine terminal in ...

24-04-2018

KROHNE at ACHEMA: Innovations in industrial process measurement

At ACHEMA 2018, KROHNE will be presenting innovations for the process industries. Visitors are welcome on booth A13 in hall 11.1 to learn about current and future developments ...

23-04-2018

Kaspersky Lab identifies infrastructure of Crouching Yeti

Kaspersky Lab has uncovered infrastructure used by the well-known Russian-speaking APT group Crouching Yeti, also known as Energetic Bear, which includes compromised ...

23-04-2018

McDermott and CB&I announce global name and brands for combined company

McDermott International, Inc.  and CB&I today announced that, following the closing of the combination, the combined company intends to retain the name McDermott. ...

23-04-2018

Hyundai Engineering awarded refinery project in Thailand

Hyundai Engineering Co., the construction unit under South Korea’s Hyundai Motor Group, won a $273.2 million refinery project from a major Thai energy company, ...

23-04-2018

Badger to provide technology for new ethylbenzene / styrene monomer plant

Badger Licensing LLC today announced that Fujian Gulei Petrochemical Co., Ltd. (GLPC) has selected Badger’s proprietary technologies for a 600 KTA grassroots ethylbenzene ...

23-04-2018

OMV Schwechat refinery turns 60

On April 22, 1958, the cornerstone was laid for the reconstruction of the OMV Schwechat Refinery after World War II. Since then the refinery has established itself as ...

22-04-2018

CNOOC’s new laboratory acquires high throughput technology from hte

hte – the high throughput experimentation company equips CNOOC Research Institute of Refining and Petrochemicals (a subsidiary of CNOOC) with a high throughput ...

19-04-2018

Lukoil commissions gas processing complex in Uzbekistan

Today LUKOIL has commissioned a Gas Processing Complex at the Kandym fields cluster in Uzbekistan. The official opening ceremony was attended by the President of the ...

19-04-2018