Trump Announces Landmark $300 Billion Reliance Investment for New U.S. Oil Refinery

President Donald Trump said the US will receive its first new oil refinery in 50 years. It will be started with the help of investment from India's Reliance Industries Ltd. Trump Reliance refinery deal is soon going to start.

Trump declared on Tuesday in a post on Truth Social, "I am proud to announce that America First Refining is opening the FIRST new US Oil Refinery in 50 YEARS in Brownsville, Texas".

The announcement came as the White House required quelling concerns about increasing energy prices due to the war in Iran. Trump is weighing numerous possible choices to lower the cost of oil and gasoline. It is about to release the inventories from emergency reserves and military escorts for tankers through the Strait of Hormuz.

The Texas refinery project was basically initiated by Element Fuels, which announced in June 2024 that site groundwork had been completed.

The Reliance investment in US refinery had even secured the necessary permits to build a refinery capable of processing about 160,000 barrels of oil per day. The Element Fuels' web address now redirects to the web portal for America First Refining, the company Trump said will open the new refinery.

The company even plans to break ground on the new plant in the second quarter of this year. It has previously signed a 20-year agreement to sell the fuels it creates as per the Tuesday statement from America First Refining. The sales deal was earlier made with Reliance.

The Trump administration is working on a policy of US energy dominance. It directly endorses the higher oil production, natural gas and coal. However, the US oil output has increased in the last few years and a half on the back of the shale rebellion, the nation focuses on an aging selection of refineries.