Trump unveils $300B Texas refinery deal
Former President Trump announced a $300 billion oil refinery deal in Texas, calling it a win for "energy dominance." It's the first project of this scale in 50 years.
The refinery is planned for the Port of Brownsville, Texas, and will be operated by America First Refining. It's expected to process 100% American shale oil. Reliance Industries, an Indian company, is reportedly investing in the project. Trump thanked them for their investment, though Reliance has not yet officially confirmed the details. The refinery aims to process 60 million barrels of US light shale oil annually. The agreement includes the purchase of 1.2 billion barrels of US shale oil, valued at $125 billion, and production of 50 billion gallons of refined products, valued at $175 billion. The facility is designed to produce gasoline, diesel, and jet fuel for both domestic use and export. It's also touted as being the "cleanest refinery in the world". Construction is projected to begin in the second quarter of 2026. The project builds upon earlier development and permits secured by Element Fuels in 2024.
