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.
13 Articles
13 Articles
U.S.-Saudi Consortium Plans $5 Billion Oil Refinery Away from Strait of Hormuz
A consortium of companies from the U.S. and Saudi Arabia plans a $5 billion oil refinery outside the Strait of Hormuz. The post U.S.-Saudi Consortium Plans $5 Billion Oil Refinery Away from Strait of Hormuz appeared first on Breitbart.
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…
MERA Oil enters final stage of site selection for planned US$5 billion refinery
MWG Enterprises, Patel Family Office, and PWS have together launched MERA Oil, a US-Saudi private consortium, and entered the final stage of selecting a host for their planned US$5 billion integrated refinery and energy export corridor.
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