PECOS COUNTY, TX (KWES) - An Austin based oil refinery company plans to build a $450 million refinery in Pecos County.
MMEX Resources says it still needs to get the permits and approval. It would be located about 20 miles northeast of Ft. Stockton, near a spur of the Texas Pacifico Railroad.
In a press release, the company says it would be able to process up to 50,000 barrels of crude oil per day. It would also be able to convert it into gas, diesel, jet fuel and liquified petroleum gas.
The company also says at the height of construction, it would create around 400 jobs. Once finished, they expect to hire around 100 people.
In the press release, President and CEO of MMEX Resources, Jack Hanks, calls the Permian Basin the largest continuous oil discovery in America, but points out that existing facilities can't handle the growth.
If the company gets the approval, they hope to start construction in early 2018. They say it will take about 18 months to complete.
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