Texas lands first new oil refinery in 50 yrs
Reliance Industries is backing the first new U.S. oil refinery in 50 years, to be built in Texas with Trump's support. It's pitched as a boost to energy security.
The refinery will be located at the Port of Brownsville, Texas, near the U.S.-Mexico border. It's designed to process 168,000 barrels of crude oil per day. Reliance Industries is supporting the project with a nine-figure investment, which ties into a ten-figure valuation. They've also signed a 20-year agreement to purchase the refined products. The facility will exclusively refine American-produced shale oil. It's designed for cleaner and more efficient refining compared to heavier imported crude. Trump has described the deal as a historic $300 billion investment. He claims it will boost energy production and create thousands of jobs. Construction is expected to begin in the second quarter of 2026. The project was initially pursued by Element Fuels, which secured permits in 2024.
