MERA Oil Nears Site Decision for $5B Refinery, Energy Export Corridor
The project would add 200,000 barrels a day of capacity and could create 3,000 direct jobs, the consortium said.
- The US-Saudi consortium MERA Oil, led by Texas-based MWG Enterprises, is narrowing its search for a $5 billion refinery site to three Gulf Cooperation Council locations, with a preferred host expected by end of 2026.
- Following a Houthi strike at the Jazan refinery earlier this week that removed 400,000 barrels daily from global capacity, the consortium is positioning the new facility outside the Strait of Hormuz to mitigate regional energy disruptions.
- Spanning 1,200 to 1,500 acres of port-connected land, the 200,000-barrel-per-day facility will support up to 3,000 direct jobs and 15,000 indirect employment opportunities at peak operations.
- "Three years of evaluation across the region and two years of detailed engagement with three outstanding locations have brought us to a clear decision point," said MWG founder Marc Gunderson.
- Phase One mechanical completion is targeted for 2029, producing ultra-low sulphur diesel and jet fuel for international markets while incorporating future carbon-management and sustainable aviation fuel capabilities.
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U.S.-Saudi Consortium Plans $5 Billion Gulf Refinery Outside Hormuz
A consortium of U.S. and Saudi companies is set to build a new refinery in the Persian Gulf despite the current situation in the region. The facility will have a price tag of $5 billion and a capacity of 200,000 barrels of crude oil daily, Reuters has reported. The consortium, dubbed MERA Oil, includes Texas-based MWG Group, the Patel Family Office, and PWS, a company associated with Saudi AHQ Group. The partners are currently selecting the site…
US–Saudi Consortium Advances $5bn Gulf Refinery Beyond Hormuz
A U.S.–Saudi private consortium has advanced plans for a US$5 billion integrated refinery and export hub, underscoring the Gulf’s growing investment in energy infrastructure designed to strengthen export resilience while expanding higher-value petroleum product exports beyond traditional crude shipments. The project has entered the final stage of site selection, with a preferred host location expected […] The post US–Saudi Consortium Advances $5…
Mera Oil shortlists three sites for refinery outside Hormuz
New Saudi-US oil consortium 3 undisclosed sites being considered Announcement due by end of 2026 A Saudi-US consortium has shortlisted three locations in the Gulf, outside the Strait of Hormuz, for a planned $5 billion integrated refinery. Mera Oil, the new energy company, selected the sites after three years of evaluating locations across the Gulf region, it said in a statement. The locations were not disclosed. The resurgence of the US-Iran co…
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