Trump announces major US oil refinery deal with India’s Reliance Industries

Washington: Former US President Donald Trump on Tuesday revealed that Indian conglomerate Reliance Industries is supporting a significant agreement to construct what he described as the first new major oil refinery in the United States in nearly fifty years.

Trump made the announcement through his Truth Social platform, stating that America First Refining would be responsible for building the new facility at the Port of Brownsville, Texas. In his post, Trump called the initiative a “historic $300 billion dollar deal — the biggest in US history,” and positioned the project as a key element of his energy policy. However, he did not provide further details regarding the specifics of the plan or the nature of Reliance’s involvement.

“Thank you to our partners in India, and their largest privately held Energy Company, Reliance, for this tremendous Investment,” Trump wrote, without elaborating on the company’s exact commitment to the project.

Reliance Industries is India’s largest privately owned conglomerate and operates the world’s largest oil refinery in Jamnagar, Gujarat. The company has a significant presence in the global energy sector.

According to information available on the America First Refining website, the company is a project of Element Fuels. Element Fuels had previously announced plans in 2024 to develop a refinery in Brownsville, Texas, with an estimated cost ranging between $3 billion and $4 billion.

While Trump highlighted the scale of the deal and Reliance’s involvement, further details regarding the agreement, including financial terms and timelines, were not disclosed in his statement.