THIS is some seriously good news. I’m quite certain it would NOT have happened under the regime of the Hildebeeste.
I thought this was impossible.
The high price of refinery-company stocks is in part due to their having a monopoly, as it is very difficult to get the EPA permits to open a new refinery. This might impact the industry.
Great news. Refining capacity has been such a bottleneck for so long.
$50 million for a refinery???
When my former church did an expansion 17 years ago, it cost $100 million.
High schools today cost more than $50 million.
The BP Whiting modernization project cost $8 BILLION,
For essentially half the refinery.
Upon further research, MMEX seems to be a tiny company traded on the OTC market. It looks like they were formed by a reverse-shell merger in 2010. They have billions of shares of stock outstanding, but it is trading at 1.6 cents a share.
The latest SEC registration filing explains a lot about the corporate structure and financials:
https://www.sec.gov/Archives/edgar/data/1440799/000147793217005370/mmex_s1a.htm
The eco-nut cases will keep it tied up in court for so long the owners will simply quit.....................
Good news everything is going to become less expensive.
#Winning #covfefe
$450 mil project
What about the new refinery that opened in the Dakotas a couple years ago to process Bakken crude?
Awesome! Refineries have been a bottleneck for two long.
Move that oil south man move that oil south.
snip
MMEX opened an office in Fort Stockton, where it plans to hold a groundbreaking ceremony
on Nov. 17. Earlier this year, Hanks announced that the company would build the refinery
in two phases. The first phase is to build a crude distillation unit, which would undergo
a shorter review process for environmental permits, and the second phase is for a full-scale
refinery capable of exporting products to Mexico.
Meet a penny stock company with big plans in West Texas
https://www.bizjournals.com/sanantonio/news/2017/10/19/meet-a-penny-stock-company-with-plans-to-build-a.html
OK, but this refinery had to in design and approval stages for years, not months.
Opening a new refinery anywhere five years ago was a bureaucratic impossibility.
This is truly a watershed event, that a new refinery was built in the US.
Amazing.
Nice!
10,000 BPD?
That is a puny crude topping unit that will produce just enough gasoline, diesel and fuel oil for west Texas and NM and perhaps a fart of butane requiring a crew of operators of twelve, at the most.
There is over $40 BILLION in refinery expansions going on in Baytown, Texas alone.
This is going to be a huge shot in the arm of Pecos and all the small towns around there who will find employment at the new facility!
WIN!!
Bkmrk