PECOS COUNTY, Texas (Local 2/Fox 24) - A global energy company is planning to establish more roots in West Texas.
MMEX Resources announced Tuesday planes to build a $450 million crude oil refinery about 20 miles northeast of Fort Stockton near the Sulfur Junction spur of the Texas Pacifico Railroad, according to a release from the company.
In the release, company officials say the 250 acre facility intends to utilize the nearby railways in order to export diesel, petroleum gas, and crude oil, among other products, to Western Mexico and South America.
Officials also say once the refinery is completed, it will be one of the first built in the US in more than 40 years.
“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," President and CEO Jack W. Hanks said. "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.”
Officials also discussed the economic boosts to Pecos County saying, at peak construction, it could bring as many as 400 jobs and 100 permanent jobs once fully operational.
Construction is set for early 2018.
REHOBOTH, Del. (AP) - Low-numbered Delaware license plates are in…
JAKARTA, Indonesia (AP) - Liu Xiang of China swam a world-record time…
JAKARTA, Indonesia (AP) - Indonesian officials have defended a street…