US-Saudi Alliance Invests $5 Billion in Strait-Bypassing Oil Refinery

A US-Saudi alliance has reached the final stage of selecting a host country for a $5 billion integrated refinery and energy export corridor project.

The project, called MERA Oil, aims to create a strategic energy export platform that bypasses the Strait of Hormuz, which accounts for approximately one-fifth of the world's oil trade.

The consortium has narrowed down its options to three countries located outside the Strait of Hormuz, but has not disclosed their names due to confidentiality agreements with participating governments.

According to Abdulmalik Al-Qahtani, CEO of AHQ Group, the site selection is based on standardized criteria including logistical efficiency, ease of access to the sea, and industrial infrastructure.