Trump announces $300 bn Reliance partnership for new US oil refinery

US President Donald Trump has announced a proposed partnership worth $300 billion with India’s Reliance Industries to establish a major oil refinery in the United States, marking what would be the country's first large-scale refinery project in nearly five decades.

In a post on Truth Social, Trump described the initiative as a significant milestone for the US energy sector. The refinery, planned at the Port of Brownsville in Texas, is expected to be one of the largest private investments in the nation's history.

According to Trump, the project is expected to generate thousands of jobs and incorporate advanced technologies aimed at making it one of the world's most environmentally efficient refining facilities.

The announcement aligns with Trump's ‘America First’ energy strategy, which focuses on expanding domestic energy production through tax incentives and simplified regulatory approvals.

The proposed investment comes amid heightened tensions in West Asia, where attacks on energy infrastructure and disruptions to shipping routes through the Strait of Hormuz have raised concerns over global oil supplies. The new refinery is expected to strengthen US energy security and support stability in international energy markets.