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A consortium of U.S. and Saudi companies is set to build a new refinery in the Persian Gulf despite the current situation in the region. The facility will have a price tag of $5 billion and a capacity of 200,000 barrels of crude oil daily, Reuters has reported. The consortium, dubbed MERA Oil, includes Texas-based MWG Group, the Patel Family Office, and PWS, a company associated with Saudi AHQ Group. The partners are currently selecting the site of the new facility, with a short list of three possible locations from the Gulf Cooperation Council.…
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AIPROPX has consolidated 1 report from 1 outlet into a single canonical entry on “U.S.-Saudi Consortium Plans $5 Billion Gulf Refinery Outside Hormuz.” Every covered outlet is based in Other.
The only timestamped report came from OilPrice (Jul 29, 2026, 08:30 UTC).
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AIPROPX — “U.S.-Saudi Consortium Plans $5 Billion Gulf Refinery Outside Hormuz” · https://www.aipropx.com/story/7fec7d0f6b9a8dfd05749c28babe2d97
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