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Historic Oil petroleum products global demand 2017 Refinery In Pecos County To Create ‘Important Financial Influence’ & Jobs

The first oil refinery within the state of Texas to open in forty years broke ground in Pecos County Friday.

The 126-acre refinery will be able to course of 10,000 barrels of crude oil each day. MMEX petroleum products global demand 2017 Resources Corporation poured $50 million into the primary phase of the project.

The project is predicted to require approximately 12 months of construction time and create significant economic impact in Pecos County during construction as well as result in full-time positions as soon Orifice ripple as operational. These initiatives will even speed up the potential for cash movement to the corporate.

“It’s important to our community and petroleum products global demand 2017 our county. We now have an awesome must diversify our economic system,” Fort Stockton Mayor Chris Alexander said.

MMEX Assets Company chose the Trans Pecos area because of the crude oil provide, the land availability and the railroad entry.

“This railroad goes into the japanese Dallas, Fort Value area and you can get to the Texas Gulf Coast refineries,” Hanks mentioned.

The primary part of the undertaking must be up and operating by the top of 2018. MMEX Sources Corp. plans to file permits for another unit, which shall be a large scale refinery ready to provide one hundred,000 barrels of crude oil.

MMEX Sources Company (MMEX) is a improvement stage company formed to interact within the exploration, extraction, refining and distribution of oil, gas, petroleum products and electric energy. MMEX focuses on the acquisition, development and financing of oil, gas, refining and electric power tasks in Texas, Peru, and other countries in Latin America. For more information about MMEX, go to www.mmexresources.com.