US-Saudi Consortium Launches $5 Billion Refinery and Energy Export Corridor
A consortium consisting of MWG Enterprises, Patel Family Office, and AHQ Group has launched MERA Oil, a US-Saudi private company, to develop a $5 billion integrated refinery and energy export corridor. The project is in its final stage of site selection.
The consortium consists of Fort Worth-based energy development company MWG Enterprises, the third-generation global family office Patel Family Office, and AHQ Group, an associate company of one of Saudi Arabia's longest-established industrial groups.
MERA Oil aims to create a large-scale refining and export facility that will process crude oil from various sources. The exact location for the project has not been announced yet, but it is expected to generate significant revenue through energy exports.