A Fort Worth energy development company is helping assemble a $5 billion refinery proposal in the Persian Gulf, with plans to process 200,000 barrels of crude each day. The project is still searching for a host country and site, but its pitch is built around energy security in one of the world’s most volatile oil corridors.
Fort Worth-based MWG Group is a key partner in MERA Oil, the consortium behind the proposed facility, according to the Fort Worth Report. The partnership also includes the Patel Family Office and PWS, a company associated with Saudi AHQ Group, with three possible locations under consideration across Gulf Cooperation Council countries.
MERA Oil says the refinery would combine energy-efficient refining technology with advanced emissions-control systems. The proposed complex would also include crude storage, export facilities and a deepwater port, and would be built outside the Strait of Hormuz, the narrow maritime gateway that handles a major share of global oil trade.
Three Gulf Locations Are Still In The Running
The consortium plans to select a host site by the end of 2026. Until then, the project remains a development proposal rather than a refinery under construction, with its sponsors describing the capital strategy and development concept as defined but the final location still unsettled…