$5 Billion US-Saudi Refinery Project Eyes Final Site Selection

A US-Saudi consortium, Mera Oil, is advancing its final site selection for a $5 billion refinery project in the Gulf region. The consortium, comprising MWG Enterprises, Patel Family Office, and PWS (an associate company of Saudi Arabia's AHQ Group), has shortlisted three locations outside the Strait of Hormuz after evaluating sites across the Gulf over the past three years.

The preferred host location is expected to be selected by the end of 2026. The project will feature a 200,000-barrel-per-day refinery, deepwater port connectivity, large-scale crude and refined product storage, and marine export facilities. It aims to strengthen regional manufacturing, logistics, technical expertise, and energy security.

Mera Oil plans to produce high-specification middle distillates, including ultra-low sulphur diesel and jet fuel, for selected international markets. The project is expected to occupy approximately 1,200 to 1,500 acres of port-connected industrial land and could create up to 3,000 direct jobs and around 15,000 indirect and induced employment opportunities during construction and operations.

Marc Gunderson, Founder of MWG Enterprises, stated that the consortium has reached a 'clear decision point' after three years of evaluation. The project's Phase One investment will incorporate energy-efficient refining technologies, emissions-control systems, and potential future capabilities including sustainable aviation fuel co-processing and carbon management.