Trump Announces Proposed USD 300 Bn Texas Oil Refinery, Thanks Reliance

US President Donald Trump on Tuesday announced plans for a proposed USD 300 billion oil refinery in Texas, calling it a “historic” investment for the country’s energy sector and thanking partners in India, including Reliance Industries, for supporting the project.

Trump shared the announcement on his social media platform Truth Social, describing the refinery as a major step toward strengthening domestic energy production and industrial investment in the United States.

“This is a historic USD 300 billion deal, the biggest in US history and a massive win for American Workers, Energy, and the GREAT People of South Texas!” Trump wrote.

According to Trump, a company called America First Refining will develop the facility at the Port of Brownsville on the Texas Gulf Coast. He said it would be the first new oil refinery built in the United States in five decades.

“I am proud to announce that America First Refining is opening the FIRST new US Oil Refinery in 50 YEARS in Brownsville, Texas,” he said.

Trump also thanked India’s largest private sector energy company, Reliance Industries, led by Mukesh Ambani, for its role in the investment.

“Thank you to our partners in India, and their largest privately held Energy Company, Reliance, for this tremendous investment,” Trump wrote.

The announcement comes as the White House faces concerns about rising energy prices and instability in global oil markets linked to tensions involving Iran.

Officials are considering steps to stabilise supply, including the possible release of crude from the US strategic petroleum reserve and security measures for tankers moving through the Strait of Hormuz.

Industry analysts say the refinery project appears linked to an earlier plan by Element Fuels, which had been preparing a similar facility at the same location.

In June 2024, the company said it had completed site preparation and obtained permits for a refinery capable of processing about 160,000 barrels of crude oil per day.

The Element Fuels website now redirects to the online presence of America First Refining, the firm Trump identified as leading the Brownsville development.

Neither Reliance Industries nor America First Refining has yet issued an official statement confirming their role in the project or providing financial details.

Trump said the refinery would boost US energy production, support exports and create thousands of jobs in South Texas, describing it as an example of what he called “American energy dominance”. He did not provide a detailed funding breakdown for the proposed project.