MMEX Resources Corp (MMEX)

[jmjjw]

It helps to both read the article, and to have facts:

Another possible source of fuel in the region could be the proposed 10,000 b/d MMEX Resources refinery at Fort Stockton, Texas, in the Delaware basin region. Developers say the project, which is not yet under construction, could be producing up to 4,000 b/d of high-sulfur diesel usable by upstream equipment by the end of next year.
Plans eventually call for a 100,000 b/d refinery with an eye toward exporting products to Mexico by rail.

First, note the weasel-words "possible," "proposed," not yet under construction," "could be," and "plans eventually."

Setting that raft of weasel-words aside, note that MMEX could never produce a drop of usable fuel from the proposed Phase I system - there is no combustion application, including fuel, which can use high-sulphur "diesel" (really AGO). The only possible "upstream" use would be as make-up for HOBM, which is a declining niche market at best.

Phase II is a fantasy - MMEX has been unable to fund Phase I, let alone scrape together nearly $1-billion for Phase II, which by design could not produce transportation fuels for the U.S. market - no blending capability is planned, and no RIN credit investment is planned. Rail to Mexico is also a fantasy.

https://www.hellenicshippingnews.com/fuel-finds-its-way-back-to-the-well-analysis/

Aaaa, What’s up Doc?

MMEX