Reliance to Back First New U.S. Oil Refinery in 50 Years as Trump Announces Historic $300 Billion Texas Project

U.S. President Donald Trump has announced plans to build the first new oil refinery in the United States in nearly 50 years, with investment support from Reliance Industries. The proposed project will be developed in Brownsville, Texas, and is estimated to be worth around $300 billion, making it one of the largest energy investments in U.S. history. The refinery project will be led by America First Refining and aims to strengthen American energy production, increase exports, and create thousands of jobs in South Texas. Trump described the project as a “historic deal” that could significantly boost the U.S. energy sector and reduce dependence on foreign fuel supplies. The facility is expected to process large volumes of American shale oil and supply refined petroleum products for both domestic use and international markets. If completed, it would be the first brand-new oil refinery built in the U.S. since the late 1970s. The announcement has also put the spotlight on Reliance Industries in the stock market, as investors watch how the Indian energy giant could participate in the project and expand its global refining presence.