The return of the refinery: after several decades without any new refineries, two plans are moving forward in Texas.
David Hunn reports on plans for a new refinery in Pecos County, Texas—if completed, it would be the first new refinery in decades.
"MMEX Resources Corp., a company that used to explore and produce oil and gas, closed on Friday on 126 acres in Pecos County near Fort Stockton for construction of a 15-acre, 10,000 barrel-per-day crude distillation plant," according to Hunn. "The distillation plant is just the first phase of MMEX’s plans to build a larger-scale, $450 million, 50,000-barrel-per-day refinery on the site. The company plans to buy 350 acres adjacent to the first 126 for the larger refinery."
The company hopes to file this week for environmental permits. MMEX isn't the only company looking to expand the oil industry's footprint in the state. Jordan Blum reported in December that Raven Petroleum has similar plans for a location east of Laredo.
FULL STORY: MMEX closes on acreage for new Texas refinery, first in decades
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