Anyone conducting thorough due diligence will immediately note that the proposed MMEX Phase I rudimentary topping unit could not produce any product either known as, or salable as "#2 Diesel," or "naphtha."
There are numerous references on this matter - including the process flow diagrams MMEX filed with TCEQ in its AQP permit application.
The proposed Phase I system has no de-sulphuring capability, no cetane boost or blend capability, and could only produce AGO (atmospheric gas-oil), an intermediate stream product that is a precursor to marketable products, like ULSD, kerosene, or related medium fractionates. The unit lacks a depropanizer, debutanizer, reforming capability, and could only produce LGO, (light gas-oil) - both streams require significant additional refining to turn into marketable products.
ATB is problematic - it is heavy, flow-resistant, requires heating to transfer via pumps, etc. It also requires vacuum distillation, and cracking - MMEX has none of these capabilities in its Phase I system.
Unsophisticated MMEX retail investors, lacking sector, technical, and market expertise are easily duped by MMEX's claims, and don't understand that the proposed Phase I system is not in any way useful, could not produce directly marketable products, and would never operate at break-even.
Additionally, please provide a direct source, independent of MMEX's self-generated, self-referential PR on the Pilot Thomas "agreement." Oddly, no such PR was ever issued by Pilot Thomas, or any independent, corroborating source.
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