MMEX Resources Corp (MMEX)

[I FAR I]

MMEX Resources proceeds with Pecos County, Texas, refinery!

https://www.bicmagazine.com/expansions/downstream/bic-november-2019-downstream/

MMEX Resources Corp. has selected debt and equity sources for $340 million in potential project financing to construct its Permian Basin refinery projects and terminals.

"We have now selected the financial entities to move forward with due diligence and final agreements to fund two crude distillation units and related infrastructure in Pecos County and terminals in the Texas Gulf Coast. As previously announced, we have entered into offtake agreements to market our refined products, including diesel, naphtha and residual fuel oil meeting the International Maritime Organization 2020 marine fuel regulations.

As we build out Phase 1 and Phase 2 and the related infrastructure, we expect to be processing about 20,000 bpd of crude oil in Pecos County in two separate crude distillation units. With this potential financial underpinning, we have asked our EPCs to start the detailed engineering, which will compress the construction period by several months." Jack Hanks, MMEX president and CEO

The company has entered into agreements to market the refined products coming out of the distillation unit, including diesel, naptha and residual fuel oil that will meet the International Maritime Organization’s 2020 marine fuel regulations.

“What’s significant is, we’re able to make marine fuel that meets ISO 2020 standards. That will be in great demand worldwide. All the fleets in the world will have to move to fuel with 0.5 percent or lower sulfur content.

We can move the naptha and residual fuel oil by rail to the Gulf Coast and then to markets designated by our buyer, an international oil and gas producer.

We understand the market and where to take the products. It’s been a learning process. We have great partners. And we’ve been cutting from whole cloth the whole time.

Once the project comes to fruition, it will be positive for Texas and the Permian Basin, because it will take the crude being produced locally and refining it into products.” Jack Hanks, MMEX president and CEO

MMEX is cutting checks on the Pecos Refinery project - Ignore the bloviators - Get Ya Some!!

"This is a great project. It has robust economics in it." - Jack Hanks

https://www.mmexresources.com/
MMEX RESOURCES
Leveraging Global Demand
for Energy Assets Located in the Americas.

Take care of the Pennies, Nickles & Dimes and the MMEX $$$$$$$$$$ will take care of THEMSELVE$!!!