Newest Texas refineries plan to turn shale into fuel for Mexico

New York

THE newest oil refineries in Texas are looking to join the hottest two plays in the North American oil industry.

Raven Petroleum LLC and MMEX Resources Inc are building refineries in the Eagle Ford and Permian Basin that will process ample local supplies of light crude into petrol and diesel. The fuel will be shipped on existing rail lines across the border to Mexico, where the government has opened the market to foreign competition, attracting companies including BP Plc and Glencore Plc.