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, recently announced that it plans to build a USD $450 million 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.
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 US in more than 40 years.