A consortium of companies from the United States and Saudi Arabia is planning to build a $5 billion oil refinery and export terminal that could ship 200,000 barrels per day without passing through the Strait of Hormuz, which Iran is attempting to control through terrorism.
The consortium, known as MERA Oil, includes Saudi corporation PWS, the Texas-based MWG Group, and the Patel Family Office, a privately-held investment firm that began three generations ago in the United Kingdom, but is now based in the United States.
The refinery project is a long-term investment in building an oil supply line that is not quite so vulnerable to predators. Saudi Arabia shifted much...
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