12JUL2019 - NEWS - MMEX completes deals to sell all products from Pecos Refinery project-TEXAS USA including IMO 2020 Fuel

MMEX Resources continues to advance its plans for a crude oil refinery complex near Fort Stockton in Pecos County.

The company has just announced the completion of agreements to sell all of the refined products that will come from the new refinery. MMEX has signed an agreement to sell its planned naphtha production to a supermajor international energy and trading company for delivery by rail to the Texas Gulf Coast refinery and petrochemical markets.

Earlier agreements were reached for the sale of the diesel and residual fuel oil to be produced at the refinery. Last year, Pilot Thomas Logistics agreed to purchase the diesel fuel production. In late May, MMEX announced an agreement with a supermajor international energy and trading company to purchase its IMO 2020-compliant marine fuel. The International Maritime Organization will begin implementing next year a new regulation sharply capping the sulphur in marine fuels. Also at the end of May, MMEX signed an agreement with an international firm to provide logistics to move its future production to the Gulf Coast by rail.