Mera Oil Shortlists GCC Sites for $5 Billion Refinery Project

A US-Saudi consortium called Mera Oil has narrowed down its search for a site to build a $5 billion refinery and energy export corridor in the Gulf region. The project, which aims to provide an export platform with direct access to international shipping routes, is expected to feature a 200,000-barrel-per-day refinery, deepwater port connectivity, large-scale crude and refined product storage, and marine export facilities.

The consortium has shortlisted three locations in the Gulf Cooperation Council (GCC) region outside the Strait of Hormuz. The project's sponsor partnership and development concept are already defined, and the selection of a host location is expected to be finalized by 2026.

MWG Enterprises, one of the partners behind Mera Oil, said that the 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.

The project is expected to create up to 3,000 direct jobs and around 15,000 indirect and induced employment opportunities during construction and operations. The consortium plans to focus on producing high-specification middle distillates for selected international markets.