New oil refinery in South Texas, U.S. plans to run on geothermal power
A new planned oil refinery in South Texas is planning to utilise a new technology that will utilise carbon dioxide to derive geothermal energy to power operations.
Earlier this month, Raven Petroleum, a newly formed development company planning to take advantage of opportunities in the current gas and oil marketplace. Raven buys, sells, develops energy related properties. Projects include petroleum refineries, ethanol plants and natural gas operations.
The company now has chosen a contractor to build a new refinery, as well as a contract on tapping into geothermal power to operate it.
Having signed a memorandum of understanding last month, the company is planning to “go the extra mile, the extra effort and expense to crate a model refinery with the latest technology available to accomplish our goal of being the cleanest refinery … period.”, so Christopher Moore, Managing Director of Raven Petroleum.
The planned $500 million refinery project in South Texas is planning to utilise a technology developed by Texas-based Thermal Energy Partners to utilise geothermal energy for its power needs.
Written by Alexander Richter, Think GeoEnergy