Mera Oil Shortlists Three GCC Sites for $5 Billion Refinery

The Mera Oil consortium, a US-Saudi private partnership, has entered the final selection stage for a $5 billion integrated refinery and energy export corridor. The project will establish a 200,000-barrel-per-day refinery featuring deepwater port connectivity and large-scale storage for crude and refined products, with a focus on high-specification middle distillates such as jet fuel and ultra-low sulphur diesel.

The consortium, consisting of MWG Enterprises, Patel Family Office, and PWS—an associate of Saudi Arabia's AHQ Group—has shortlisted three locations within the Gulf Cooperation Council that sit outside the Strait of Hormuz. This design aims to create a route-resilient hub to improve regional energy security and industrial growth. The project is expected to generate 3,000 direct and 15,000 indirect jobs.

Funding will be sourced through sponsor equity, project finance, and sovereign and institutional investments. The consortium expects to select the final host jurisdiction by the end of 2026, with a target for mechanical completion in late 2029.