Next-Gen Refinery Announced in Cushing, Oklahoma
Estimates are that 95% of greenhouse gas emissions will be eliminated compared to existing refineries when the new plant is operational.
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Photo Credit: Southern Rock Energy Partners
The Cushing Economic Development Foundation (CEDF) and the City of Cushing, Okla., announced that Southern Rock Energy Partners has selected their town for its new next-generation, full conversion crude refinery. The project is expected to take more than $5.5 billion capital investment, and when fully operations will add more than 400 jobs to the local economy.
Southern Rock Energy Partners (SREP) says the refinery complex will reduce and eliminate 95% of greenhouse gas emissions while producing more than 90 million barrels annually of cleaner transportation fuels including gasoline, diesel and jet fuel from crude sourced domestically from the Anadarko, Permian, Denver, Julesburg and Bakken Basins. The project is scheduled to begin construction in 2024 and be operational in 2027.
Cushing is already the site of approximately 100 million barrels of storage in tank farms in the surrounding communities, called the Pipeline Crossroads of the world for crude oil, and it’s the most significant trading hub for oil in North America according to the project press release.
Southern Rock Energy Partners was established in 2017 to develop assets in the midstream and downstream hydrocarbon industry. Assets include processing, storage, distribution facilities and pipelines. SREP participates in real estate development of truck, rail, and marine facilities, terminals, and services.
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