CUSHING, Okla. (OBV) – A crude oil refinery that is expected to bring in over $5 billion in capital revenue will be built in Cushing, Okla.
Southern Rock Energy Partners, LLC selected Cushing as the location for its next generation, full conversion crude refinery, according to Oklahoma Department of Commerce officials.
The refinery is expected to generate $5.56 billion in capital revenue and create more than 420 full-time jobs.
“Commerce is excited about the decision of Southern Rock Energy Partners to pursue Oklahoma for their large-scale refinery,” said Brent Kisling, Executive Director, Department of Commerce. “As the ‘pipeline crossroads of the world,’ Cushing is the perfect location for this project. We look forward to working alongside the company and the community of Cushing to further strengthen Oklahoma’s ‘all of the above’ energy approach with the addition of this $5.5 billion facility.”
Southern Rock’s refinery will produce up to 250,000 barrels per day (BPD). It will reduce and eliminate 95 percent of greenhouse gas emissions while producing approximately 91.25 million barrels or 3.8325 billion gallons annually of cleaner transportation fuels including gasoline, diesel and jet fuel from crudes sourced domestically from the Anadarko, Permian, Denver and Julesburg and Bakken Basins, according to Commerce Department officials.
The refinery will be built over 36 months, starting in early 2024. Commercial operations will begin 2027.
The refinery’s first decade of operation is expected to have a more-than-$18 billion impact on Cushing and the state of Oklahoma.
“This is a huge potential investment for the community of Cushing-the long-standing epicenter of energy independence for the world,” Rep. Kevin Wallace said. “We’re excited to welcome this decision from Southern Rock Energy Partners.”
Speaker Pro Tempore Kyle Hilbert said state leaders stand behind the energy industry.
“We have passed legislation off of both the House and Senate floors this session that will support the construction and expansion of oil refinery infrastructure in Oklahoma,” Hilbert said. “As we work on finalizing language in Senate Bill 210, we are sending a message to the world that here in Oklahoma, we support the energy industry.”
Cushing has approximately 100 million barrels of storage in the area’s tank farms and is known as the “Pipeline Crossroads of the World” for crude oil. The city’s vast storage operations make it a critical part of the energy sector.
“Cushing is the bedrock for oil and gas not only for Oklahoma but for the world. I’m thankful to have been a part of this two-year process of working with Rock Energy Partners, the Cushing community and Commerce,” Rep. John Talley said. “I look forward to this monumental opportunity for our local community and state.”
