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March 9, 2017 Comments Off on MMEX to Build $450M Refinery in Permian Basin Views: 384 Texas - Other, Texas News

MMEX to Build $450M Refinery in Permian Basin

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Global energy company MMEX Resources Corp., headquartered in Austin, TX, announced its intention to build a $450 million, 50,000 barrels per day capacity crude oil refinery in the Permian Basin of West Texas. The 250-acre facility will be situated 20 miles northeast of Fort Stockton, TX, near the Sulfur Junction spur of the Texas Pacifico Railroad. Construction is planned to begin in early 2018, with the facility projected to begin operations in 2019.

MMEX’s Jack W. Hanks indicated that existing facilities and pipeline networks aren’t equipped to handle the Permian Basin’s projected 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,” he said.

Read More at Globe Newswire

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