The MERA Oil consortium of U.S. and Saudi Arabian companies is advancing plans for a $5 billion integrated refinery and export corridor in the Gulf aimed at boosting regional energy infrastructure, its partners said on Wednesday, as the Iran war continues to disrupt energy flows.
* Texas-based energy development company MWG Group, the Patel Family Office and PWS, an associate company of Saudi industrial conglomerate AHQ Group, have entered the final stage of site selection for the refinery, which will have capacity of 200,000 barrels per day.
* The consortium has narrowed the site selection process to three locations in the Gulf Cooperation Council six-nation bloc.
* The preferred host is expected to be confirmed by the end of 2026, the companies said, without providing specific locations.
* The integrated refinery will be linked to deepwater port infrastructure, large-scale storage of crude and refined products, and marine export facilities.
* MERA Oil said the planned project is located outside the Strait of Hormuz and aims to provide an export platform with direct access to international shipping routes.
* The energy complex will incorporate energy-efficient refining technologies and advanced emissions-control systems.
* Sustainable aviation fuel co-processing and carbon-management capabilities are also being evaluated as potential future components.
* The consortium is engaged in talks with feedstock providers, with definitive arrangements expected to progress alongside the final site decision.
(Reporting by Federico Maccioni. Editing by Mark Potter)